• Cryptocurrency Exchange Backs Lawsuit Against the U.S. Department of the Treasury
  • U.S. Securities and Exchange Commission Chair Gives Speech on Crypto
  • SEC Announces Formation of New Office for Crypto Disclosures

Continue Reading Blockchain Week in Review: Week of September 9, 2022

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC), on August 8, 2022, sanctioned virtual currency mixer Tornado Cash. OFAC alleged that it had been “used to launder more than $7 billion worth of virtual currency since its creation in 2019 [, including] over $455 million stolen by the Lazarus Group[,]” a Democratic People’s Republic of Korea (DPRK) state-sponsored hacking group that OFAC identified for sanctions in 2019, in what the agency characterized as the largest known virtual currency heist to date.[1]Continue Reading OFAC Takes Action Against Virtual Currency Tornado Cash in Novel Application of Sanctions Authorities

Weekly Blockchain Focus

  • Zelenskyy Signs Virtual Assets Bill Into Law, Legalizing Crypto in Ukraine
  • Japan Sets Penalties on Crypto Exchanges in Case of Violations of Sanctions on Russia
  • SEC Rejects Spot Bitcoin ETF Proposals From NYDIG, Global X
  • Bipartisan Praise for Biden’s Executive Order on Crypto
  • Crypto Apps break 100M Downloads in Fourth Quarter
  • EU Parliament Committee Votes Against Proof-of-Work Ban and Supports Alternative Amendment on Crypto Assets

Further Reading

  • Andreessen Horowitz Hires Michele Korver, Former FinCEN Chief Currency Advisor
  • CNBC: Senate Banking Committee holds hearing on crypto and illicit finance
  • The Block: ConsenSys raises $450 million Series D at $7 billion valuation
  • The Washington Post: Sarah Bloom Raskin withdraws nomination for Fed vice chair for supervision

Continue Reading Blockchain Week in Review: Week of March 28, 2022

Weekly Blockchain Focus

  • Senate Holds Hearing on Stablecoins
  • Senate Confirms New Commodities Futures Trading Commission Chair
  • U.S. National Credit Union Administration Clarifies Ability of Federally Insured Credit Unions to Partner With Third-Party Digital Asset Service Providers
  • IRS Revises Language on Form 1040
  • Ninety Percent of Bitcoin’s Total Supply Mined
  • Chinese Court Declares Mining Contract Void

Continue Reading Blockchain Legal Report: Week of December 17, 2021

Weekly Focus

  • U.S. Treasury Foreshadows “Significant New Requirements”
  • Enforcement Actions Brought Against Allegedly Fraudulent Digital Asset Investment Scheme
  • Department of Justice Charges Darknet-Based “Mixer” With Laundering Over $300 Million, Operating an Unlicensed Money Transmitting Business, and Money Transmission Without a License
  • Report Finds Crypto Crime Losses Double to $4.5 Billion in 2019
  • J.P. Morgan Discusses Merger With ConsenSys
  • Aragon Court Launches Precedence Campaign
  • IBM Claims Blockchain Expenditures Yield 15x for Cloud
  • IOSCO Releases Updated Report on Issues, Risks and Regulatory Considerations Relating to Crypto-Asset Trading Platforms
  • German Bank Develops Special-Purpose Euro Stablecoin
  • Blockchain-Based Financial Instruments Utilized in Wake of Coronavirus
  • Fed Reserve Governor Discusses the Digitalization of Payments and Currency

Continue Reading Blockchain Week in Review: Week of February 14, 2020