Weekly Updates

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Weekly Focus:

  • Jay Clayton to step down as Chairman of the Securities and Exchange Commission
  • Brian Brooks nominated to five-year term as Comptroller of Currency
  • Origin Protocol attacked, resulting in estimated loss of $7 million
  • SEC issues no-action letter for IMVU
  • Mitsubishi UFJ Financial Group plans launch of blockchain payments network in 2021
  • Texas State Securities Board files emergency cease-and-desist orders against ten digital asset investment platforms

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Continue Reading Blockchain Week in Review: Week of November 20, 2020

Weekly Focus:

  • DOJ Seizes More Than $1 Billion in Cryptocurrency from Silk Road Hacker
  • CFTC Announces Charges Against Digital Asset Ponzi Scheme
  • SEC’s Enforcement Division Collected $4.68 Billion in 2020
  • Vortex Blockchain Technologies Settles with the SEC
  • Blockchain Industry Speculates on Regulation in a Biden Administration
  • LabCFTC Announces Agenda for Empower Innovation 2020
  • Cred Inc. Files for Chapter 11 in Delaware
  • Deutsche Bank Publishes Report on CBDC
  • Reserve Bank of Australia Partners with Blockchain Company on CBDC Project
  • Lebanon’s Central Bank Progresses on Plans for CBDC
  • Russian Central Bank Issues CBDC Consultation Paper
  • Bank of Canada Is Working with G7 on Global Approach to Digital Currencies
  • The U.K. Treasury Announces Plans to Regulate Stablecoins
  • Germany Drafts Bill for Blockchain-Based Securities

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Continue Reading Blockchain Week in Review: Week of November 13, 2020

Weekly Focus:

  • Kik & SEC Agree to $5M Judgment
  • CFTC Releases Advisory on Futures Commission Merchants
  • New York “Techsprint” Focuses on Virtual Currency Companies
  • Powell Considers U.S. Digital Dollar at IMF Virtual Panel
  • Ripple Considers Leaving U.S. over Lack of Regulatory Clarity
  • New Jersey “Digital Asset and Blockchain Technology Act” Moves Forward in State Legislature
  • IMF Issues New Report on CBDCs and GSCs
  • The Bahamas Rolls Out First CBDC, the “Sand Dollar”
  • Bank of Spain Releases CBDC Research Plan

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Continue Reading Blockchain Week in Review: Week of October 23, 2020

Weekly Focus

  • CFTC and DOJ Actions Involving BitMEX
  • SEC Settlement with Salt Lending
  • CFTC Action Against PaxForex
  • Summary Judgment Granted in SEC Action Against Kik
  • FinCEN and OFAC Issue Advisories on Ransomware
  • FinCEN Director Blanco Speech at ACAMS AML Conference
  • French Authorities Investigate Use of Virtual Currency to Fund Terrorism

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Continue Reading Blockchain Week in Review: Week of October 2, 2020

Weekly Focus

  • S. Department of Homeland Security Issues Challenge for Development of Trusted User Interface for Digital Wallets
  • Kraken Announces Approval From Wyoming Division of Banking for a Special Purpose Depository Institution Charter
  • CFTC Provides Temporary No-Action Relief to Tassat From SEF Reinstatement Requirements
  • FinCEN Seeks Public Comments on AML Program Requirements
  • CSBS Announces “One Company, One Exam” for Licensed Payment Firms
  • CFTC Files Complaint in Alleged Fraudulent Digital Asset Scheme
  • SEC Brings Charges against T.I. for Violations of Securities Laws
  • SEC Brings a Complaint Against Individuals and Two Companies Relating to Token Offerings
  • FAFT Issues Report on Virtual Assets Red Flag Indicators of Money Laundering and Terrorist Financing
  • Gibraltar Issues Updated Guidance Notes for DLT
  • Report: New Zealand Updates Tax Guidance for Crypto Assets
  • Report: Bahamas Planning to Formally Launch Its CBDC as Soon as October 2020
  • Report: India Considering a New Law Banning Cryptocurrency Trading
  • Nigeria Issues Statement on Digital Assets and Their Classification and Treatment
  • EU Committee Legislative Proposal on the Regulation of Crypto-Assets

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Continue Reading Blockchain Week in Review: Week of September 18, 2020

Weekly Focus

  • CFTC approves LedgerX to clear fully-collateralized futures and options.
  • Square launches the Cryptocurrency Open Patent Alliance to spur cryptocurrency adoption and protect against trolls.
  • Mastercard launches testing platform for central bank digital currencies.
  • California’s Consumer Financial Regulator to get a new name and new powers.
  • Blockpit and CryptoTax complete merger.

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Continue Reading Blockchain Week in Review: Week of September 11, 2020

Weekly Focus

  • Federal Reserve Publishes Observations From “FooWire” Project
  • Federal Reserve Governor Lael Brainard Announces Collaboration With MIT
  • SEC Appoints New Director of Enforcement
  • Companies Accepted to Hawaii Regulatory Sandbox Begin Providing Services
  • Prosecutors Unseal Charges Against Crypto Mining Ponzi Scheme
  • Monetary Authority of Singapore and Industry Groups Roll Out “Code of Practice” for Payment Service Provider Licensing
  • China Expanding its Digital Currency Testing Program

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

Weekly Focus

  • California Appellate Court Upholds Coinbase Summary Judgement
  • California Issues Opinion on Crypto Escrow Services under the Money Transmission Act
  • The Federal Reserve Is Testing a Digital Dollar and Distributed Ledgers
  • New York Updates Cryptocurrency Greenlist
  • SEC Charges Issuer with Fraudulent ICO
  • Wealthsimple Receives Approval for Canadian Regulatory Sandbox
  • Russian Monitoring Service Planning to Create Cryptocurrency Tracking System
  • MicroStrategy Adopts Bitcoin as Treasury Reserve Asset
  • Coinbase Announces Crypto-Backed Loans
  • Grayscale Ethereum Trust Files Registration Statement

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

Weekly Focus

  • U.S. Senate Confirms SEC Commissioner Hester Peirce for Second Term
  • U.S. Attorney Files Complaint to Forfeit $6.5M in Cryptocurrency Stolen in Ponzi Scheme
  • Russian Cryptocurrency Law Signed
  • Tel Aviv Stock Exchange Announces Blockchain Securities Platform
  • Swiss Bank to Launch Crypto Services

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Continue Reading Blockchain Week in Review: Week of August 7, 2020

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