General Developments/Background

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Weekly Focus

  • The OCC clarifies that banks can provide crypto custody services.
  • The FDIC seeks comments on developing a certification process for new technologies to be used by banks.
  • The UK looks at restricting crypto promotions.
  • A group of crypto exchanges is working together to comply with FATF travel rule standards.

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

Weekly Focus:

  • CFTC and SEC Settle Charges with Abra
  • Louisiana Enacts Virtual Currency Company Law
  • Twitter ‘Hack’ of Prominent Accounts Requests Bitcoin
  • New York Department of Financial Services Superintendent Addresses Initial Feedback on proposed BitLicense Changes
  • New York Man Charged with Wire Fraud Relating to a Cryptocurrency-Related Investment Scheme
  • China to Test Digital Yuan on Food Delivery Platform; Beijing Local Government Releases Blockchain Plan
  • Japan Considering Issuance of a Digital Yen

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

Weekly Focus:

  • Fifth Circuit Limits Privacy on Digital Asset Transactions
  • SEC Approves Digital Shares for Treasury Fund
  • CFTC to Develop Holistic Framework for Digital Asset Innovation
  • FATF Issues New Report on Stablecoins

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Continue Reading Blockchain Week in Review: Week of July 10, 2020

Weekly Focus:

  • New York’s Financial Services Regulator Announces New Virtual Currency Initiatives
  • Proposed Consent Judgment Filed in Telegram Lawsuit
  • SEC Charges Offerors of AML BitCoin with Fraud
  • Judgment Entered in Shopin Lawsuit
  • Singapore Begins to Enforce Prohibition on Unlicensed Bitcoin Sales
  • Lawmakers in Spain Propose Amendment to the Country’s AML/CFT Laws

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Continue Reading Blockchain Week in Review: Week of June 26, 2020

In today’s expanding global economy businesses increasingly generate value through the exploitation of intangible assets. Effective procurement, management and enforcement of intellectual property rights (IPR) can be crucial to maintaining a competitive advantage. Those that stand to benefit from a comprehensive IP strategy include the IP owners themselves, content producers, distribution partners, end consumers, and…

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

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

Weekly Focus:

  • BitClave Settles with SEC
  • Telegram Withdrawals Appeal
  • First Meeting of Wyoming Select Committee on Blockchain
  • Louisiana Takes a Step Towards Establishing a Crypto License Regime
  • India Permits Banking for Cryptocurrency Related Businesses
  • Antigua and Barbuda Cryptocurrency Regulation
  • Switzerland Denies Crypto Valley Bailout

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Continue Reading Blockchain Week in Review: Week of May 29, 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

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

Weekly Focus:

  • Ripple Faces New Litigation Related to XRP Token Sale
  • In Wake of Injunction, Telegram Discontinues Involvement with TON Blockchain
  • Blockvest Founder Seeks to Challenge Sanctions Granted in SEC Suit Related to ICO
  • Ohio State Lawmakers Contemplate Using Blockchain for Future Election Cycles
  • Square’s CashApp Q1 Earnings Show Surge in Bitcoin-Related Earnings
  • Turkey-Based Company iMiner Successfully Attains License to Operate in Iran
  • Dutch Central Bank Imposes Registration Requirement for Crypto Service Providers Under Newest Iteration of AML Legislation

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Continue Reading Blockchain Week in Review: Week of May 8, 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…