Below is a summary of some of the significant legal and regulatory actions that occurred over the past week. This alert is not intended to be a comprehensive list of all such developments, but rather a selection of publicly-reported news that may be of particular interest.

U.S. Developments

SEC Commissioner Kara Stein Sees Potential in Blockchain Technology
The SEC’s highest ranking official spoke publicly about blockchain technology, acknowledging its potential for increasing trust and quality in the financial sector and for monitoring systemic risk in financial markets. She cautioned, however, that the technology is “still in its infancy” and should be watched closely by regulators so they can be “in a position to lead, harnessing its benefits and responding quickly to potential weaknesses.” This is the first statement made by the SEC regarding bitcoin or blockchain technology.

Additional Charges Filed Against Anthony Murgio of Linking Him to the JP Morgan Cyberattack
New conspiracy charges were filed against Anthony Murgio of bitcoin exchange service in connection with recent charges brought against owner Gery Shalon and co-conspirators Joshua Aaron and Ziv Orenstein. The three are believed responsible for the JPMorgan Chase cyberattack in 2014. Murgio and Yuri Lebedev, operators of, were arrested in July for conspiracy, money laundering and the unlawful operation of a virtual currency exchange without a money transmission license. The new charges filed against Murgio this month contain similar allegations involving Murgio’s role in the global criminal hacking operation allegedly led by Shalon, Aaron and Orenstein. Murgio has pled not-guilty.