Weekly Updates

Virtual Currency Legal Report: Week of January 7, 2022

Weekly Fintech Focus

U.S. Congress to Hold Oversight Hearing on the Mining of Cryptocurrency
NY DFS to Hire New Deputy Superintendent
Recent Federal Regulator Announcements Signal Changes in Senior Leadership at the SEC, CFTC, and FDIC
CFTC Fines Crypto Betting Service Polymarket $1.4M for Unregistered Swaps
Australian Open Offers NFT Sales Alongside 2022 Tournament
ESMA Releases Request for Evidence Regarding Regulation on Distributed Ledger Technology

By Will Conley & Andrew Lucas on December 17, 2021

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

By Caylyn Perry & Kendra Haar on December 10, 2021

Weekly Blockchain Focus

Securities and Exchange Commission announces judgments entered against BitConnect’s lead national promoter
Commissioner Stump calls for clarity before bringing any more enforcement actions
Cryptocurrency CEOs speak to the House Committee on Financial Services
Gibraltar to use blockchain for digital identification
India to ban cryptocurrencies as a form of payment
Bank for International Settlements discusses decentralized finance in its quarterly report

By Roderick O'Dorisio on November 5, 2021

Week in Review

By Zeeve Rose on September 2, 2021

Unamended Infrastructure Bill with “Broker” Reporting Requirements Set for Vote in September
CFTC Provides Clarification on Its Regulatory and Enforcement Authority
Despite El Salvador’s Strongly Worded Bitcoin Law, Bitcoin Usage Remains “Totally Optional”
China’s Shandong Supreme Court Holds Crypto Assets Not Legally Protected
Thailand Releases Crypto Custodian Regulations
Bitcoin Stability Leveraged in Afghanistan Amid Taliban Takeover

Weekly Fintech Focus

Congress Members Reintroduce Bill to Define Digital Assets
President’s Working Group on Financial Markets Meets to Discuss Stablecoins
Chairman Gensler Remarks Signal SEC Future Focus on Potential Crypto Regulation Through Security-Based Swaps Authority
DraftKings Announces Launch NFT Digital Marketplace
Mastercard Announces Enhancements to Digital Currency Card Program
European Commission Proposes to Expand Regulations on Cryptocurrency Service Providers
Russian Central Bank Urges Stock Exchanges to Avoid Listing Crypto Companies

By Andrew Lucas on July 26, 2021

Weekly Blockchain Focus

European Central Bank announces the investigation phase of a digital Euro project.
SEC charges Coinschedule.com with unlawfully touting digital asset securities.
Federal court order permanently bans PaxForex and imposes a $300,000 penalty for offering illegal leveraged transactions in Bitcoin, Ether, Litecoin, and precious metals.
Shapeshift announces “largest airdrop in history” as it attempts to become a fully decentralized exchange.
Saquon Barkley announces plan to accept all endorsement money in Bitcoin.
Tom Brady and Gisele Bündchen take a stake in cryptocurrency exchange FTX.

By Zeeve Rose on July 2, 2021

Weekly Blockchain Focus

U.S. House Financial Services Committee Hearing
New Jersey Attorney General Gurbir Grewal to join SEC as head of enforcement
FBI Bolstering Tactics Against Illicit Cryptocurrency Transactions and Cybercrimes
TP ICAP To Launch Cryptoasset Trading Platform
Proposed Regulatory Framework – Cryptoassets in South Africa