Tag: Cryptocurrencies & ICOs
CFTC Files Complaint Against Voyager’s Former CEO Stephen Ehrlich Alleging Fraud and Registration Failures
By Cliff Histed, Cheryl Isaac, Eden Rohrer, and Josh Durham On 12 October, the Commodity Futures Trading Commission (CFTC) filed a complaint against Stephen Ehrlich, the former [more…]
Australia: Expanding AML requirements for digital currency exchanges
By Daniel Knight and Grace Hall The Australian Government has committed to reforming Australia’s AML/CTF regime, with proposed reforms set to impact digital currency exchange (DCE) providers. The [more…]
Australia: ASIC revises its IDR reporting framework – are you ready?
By Daniel Knight and Hugo Chow All holders of an Australian Financial Services License (AFSL) with a retail client authorisation will need to comply with ASIC’s internal dispute resolution [more…]
Central Bank of Ireland Issues Important Clarification Regarding Investments in Digital Assets including certain Cryptocurrencies
By Judie Rinearson and Richard Kerr On 4 April 2023, the Central Bank of Ireland (the Central Bank) published the 47th edition of its Alternative Investment Fund [more…]
UK Regulation of Cryptoassets – Another Glimpse but Still None the Wiser
By Judie Rinearson and Kai Zhang On 1 February, UK Government commenced another consultation on regulating cryptoassets (other initiatives consulted earlier remain being considered/legislated) which will close [more…]
Federal Reserve Issues Policy Statement Limiting Crypto-Activities of State Member Banks
By Grant F. Butler, Carly E. Howard, Andrew M. Hinkes The Board of Governors of the Federal Reserve (the “FRB”) issued a policy statement that interprets Section [more…]
“Joint Statement on Crypto-Asset Risks to Banking Organizations” Will Significantly Impact Cryptocurrency Companies and Their Banking Relationships
By Grant F. Butler, Andrew M. Hinkes, Jeremy McLaughlin, Judie Rinearson The US Board of Governors of the Federal Reserve System (FRB), Office of the Comptroller of [more…]
Alaska Will Require Licensing for Crypto Money Transmitters
By Jeremy M. McLaughlin and Brenden R. Chainey On November 30, Alaska amended its money transmitter regulations to, among other things, include virtual currency transactions within the [more…]
Renewed Era of Crypto Assets Growth in Hong Kong
By Jay Lee Recently, Hong Kong, through its Financial Services and the Treasury Bureau, pronounced a Policy Statement on Development of Virtual Assets (“VA”) in Hong Kong [more…]
Federal Reserve Doubles Down on Oversight of Crypto Activities for Banks
By Grant F. Butler, Jeremy McLaughlin, Anthony R.G. Nolan, and Judie Rinearson The Federal Reserve Board (the “FRB”) issued Supervision and Regulation Letter 22-6 (“SR 22-6”), providing [more…]
FDIC Warns Banks on Crypto-Related Deposit Insurance Customer Confusion
By Grant F. Butler On July 29, the FDIC issued an advisory to FDIC-insured financial institutions regarding deposit insurance and dealings with cryptocurrency companies. The FDIC also [more…]
SEC v. Wahi: An Enforcement Action That Could Impact the Broader Crypto / Digital Assets Industry
By Andrew M. Hinkes and Josh Durham The SEC has made a new crypto move. On July 21, the SEC filed a complaint in the U.S. District [more…]
