Weekly Focus:

  • The OCC Announces New Acting Comptroller and Includes FinTech Charters Among Focuses
  • The OCC Requests Comments to Update Outdated Regulatory Requirements and New Digital Technology and Innovation
  • SEC Commissioner Hester Peirce Nominated for Second Term
  • SEC Freezes Assets in a Multi-Level Marketing Cryptocurrency Scheme
  • Financial Services Committee Discusses Digital Dollar for Stimulus Payments
  • Russia Continues to Embrace Blockchain, Moscow Citizens to Cast Blockchain Secured E-Votes on Constitutional Amendments and Russian Supreme Court Uses Blockchain Technology to Vote for First Time
  • Ontario Securities Commission Blames Fraud Following Investigation of QuadrigaCX Downfall

Continue Reading Blockchain Week in Review: Week of June 12, 2020

Weekly Focus:

  • OCC Announces a New Acting Comptroller of the Currency
  • House Bill Would Require a Study on the Regulation and Use of Blockchain Technology in the United States
  • IRS Reportedly Seeking Private Contractors in Connection with Virtual Currency-Related Tax Returns
  • US Senate Subcommittee Raises Blockchain as Option for Senate Voting During Times of Crisis
  • Private Party Brings Suit against Crypto-Products Trading Platform for Alleged Violations of RICO and the CEA
  • Bank of France Provides Update on Central Bank Digital Currency Experimentation
  • FATF Issues Report on COVID-19-Related Money Laundering and Terrorist Financing Risks and Policy Responses
  • Brazilian Agency Re-opens Investigation into Banks’ Treatment of Virtual Currency Firms
  • Reports: Iran Takes Several Actions Related to the Regulation of Virtual Currencies

Continue Reading Blockchain Week in Review: Week of May 22, 2020

Part 3: An Overview of the Guidance

In the final part of our three-part update series covering the U.S. Commodity Futures Trading Commission (CFTC) guidance on what constitutes the “actual delivery” of a digital asset in the context of a retail commodity transaction, we offer a detailed overview of the Guidance with our analysis.

Part

Please note that the Digital Asset SEC Timeline has since been updated.  To find the most recent version, updated April 2021, please click here.

Perkins Coie LLP is pleased to bring you this updated Digital Asset SEC Timeline. This update includes the newest edition posted on March 24, 2020 which highlights the Second

Weekly Focus:

  • Money Laundering in Bitcoin . . . is Still Money Laundering
  • CFTC Designates Sixth Bitcoin Contract Market
  • Terminating Sanctions Ordered Against Blockvest LLC Founder
  • China’s Central Bank Starts CBDC Pilot Program
  • Dutch National Bank Wants to Test CBDCs for the Eurosystem
  • Coinbase Launches Price Oracle for DeFi
  • Ant Financial Launches SME Consortium Blockchain

Continue Reading Blockchain Week in Review: Week of April 24, 2020

Weekly Focus:

  • Libra Association updates white paper with plans to release multiple stablecoins
  • New Wyoming law allows insurance companies to invest in crypto
  • CFTC proposes updates to Part 190
  • Andreessen Horowitz to raise $450 million for second crypto fund
  • ATBCoin settles class action lawsuit for $250k
  • Financial Stability Board releases document on global stablecoins
  • Chinese tech companies file most blockchain patents in 2019
  • China to launch blockchain platform this week

Continue Reading Blockchain Week in Review: Week of April 17, 2020

Weekly Focus

  • Congress Circulates Draft Legislations Calling For a “Digital Dollar” Payment System
  • CFTC Issues a Final Interpretive Guidance on Actual Delivery of Digital Assets
  • Digital Dollar Foundation Adds Several Former Government Officials to its Board
  • DHS and Several States Deem Certain Blockchain Managers as Essential
  • CFTC issues an Advisory Warning of Increased Fraudulent Schemes During COVID-19
  • SEC Obtains Injunctive Relief Against Telegram, Telegram Appeals
  • SEC Charges Former State Senator with Fraudulent Digital Asset Offering
  • KIK and SEC Seek Summary Judgement in SEC v. Kik Interactive Inc.
  • IOSCO Issues its Public Report on Global Stablecoin Initiatives

Continue Reading Blockchain Week in Review: Week of March 27, 2020

In the midst of the COVID-19 pandemic, the financial markets have experienced significant volatility. During the course of this volatility, exchanges have halted trading multiple times after declines in trading trigged circuit breakers. In addition, trading floors are transitioning to electronic trading in efforts to prevent the transmission of COVID-19 on physical trading floors. With the recent turmoil, this post provides a high-level summary of the various types of circuit breakers and what can be expected.
Continue Reading Understanding Circuit Breakers, Our New Reality, in the Time of COVID-19

Weekly Focus:

  • ICO Issuer Settles SEC Registration Charges
  • IRS and Cryptocurrency Industry Groups to Meet Amid Agency Enforcement Push
  • Washington Blockchain Work Group Bill Passes State Senate
  • Brazilian Central Bank to Launch Payment System to Compete With Cryptocurrencies
  • Financial Intelligence Units Meet to Discuss Global Issues Surrounding Virtual Assets
  • Bank of Korea to Leverage Blockchain Technology in Bond Market
  • DeFi Project, bZx, Loses $630,000 in Ether in Second “Flash Loan” Exploit in a Week
  • Coinbase Given Principal Status With Visa

Continue Reading Blockchain Week in Review: Week of February 21, 2020

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