Congress will be “starting from scratch” in attempting to establish a regulatory framework for stablecoins — an issue that many believe is the top digital asset legislative priority.
By Arthur S. Long, Parag Patel, Yvette Valdez, Pia Naib, and Deric Behar
On April 15, 2023, the US House Financial Services Committee
This is the first decision by the Hong Kong Court on whether clients of a crypto exchange have proprietary claims to cryptocurrencies held on the platform. It confirms that cryptocurrency constitutes property under Hong Kong law.
By Dominic Geiser, Simon Hawkins, Howard K. H. Lam, Adrian Hei-Yin Fong, Flora F. W.
In this issue:
• European Bank Launches Stablecoin; Financial Firms Expand Crypto Products• Ethereum ‘Unstaking’ Data Published; New DeFi Products Launch• SEC Charges U.S. Crypto Exchange with Multiple Securities Law Violations• States Bring Crypto Enforcement Actions, Assess Supervisory Costs• OFAC Adds New Bitcoin Public Key to SDN List• DeFi Protocol
The Department of the Treasury’s recently issued Illicit Finance Risk Assessment of Decentralized Finance is principally intended to provide insight on how illicit actors are abusing decentralized finance (DeFi) services, as well as anti-money laundering (AML) and countering the financing of terrorism (CFT) vulnerabilities unique to DeFi. However, the report also contains critical insight on
Background and Scope
The Assessment was drafted by Treasury’s Office of Terrorist Financing and Financial Crimes (“TFFC”), in consultation with multiple U.S. agencies, including the Departments of Homeland Security, Justice, and State; the Commodity Futures Trading Commission (“CFTC”); Office of the Comptroller of the Currency; and the Securities and Exchange Commission (“SEC”). The TFFC also
The report, which includes contributions from Latham, provides an in-depth look at Mexico’s fintech ecosystem.
On April 18, 2023, the Asociación Fintech México released its Fintech Mexico 2023 Annual Report. Along with a detailed discussion of Mexico’s booming fintech industry, the white paper presents a comparative analysis of the regulatory framework encompassing
• Montenegro Announces CBDC Pilot, BIS Compares CBDCs to Stablecoins• Ethereum Network Completes ‘Shanghai’ Upgrade• U.S. Treasury Publishes DeFi Risk Assessment; Banque De France Analyzes DeFi• Study Analyzes 2022 Crypto Tax Compliance Across Various Countries• EU Report Analyzes Cryptocurrency Use on Darknet Markets• Hackers Drain Millions from
As reported on the Hunton Insurance Recovery Blog, blockchain technology has been touted as inherently reliable for years. More recently, collectors of NFTs have explored expanded uses for that novel technology. Some courts have bought in and, in doing so, recently authorized a use that perhaps no one had imagined when NFTs first entered the
In this issue:• Crypto Exchange Ends U.S. Operations, Swiss Bank to Expand Crypto Offerings• National Futures Association Rule Addresses Digital Asset Commodity Activities• DOJ, Courts and State Securities Regulators Cripple Cryptocurrency Frauds• Cryptocurrency Crime and Anti-Money Laundering Report Published
Crypto Exchange Ends U.S. Operations, Swiss Bank to Expand Crypto Offerings
By Joanna
In this issue:• “Z” Doors Are Open: Rival Zero Knowledge EVMs Launched by Matter, Polygon• U.S. Central Bank Publishes Order Denying Custodia Bank Application• CFTC Charges Binance Alleging Numerous Commodity Exchange Act Violations• SEC Charges Crypto Exchange; DOJ Charges Crypto ATM; Do Kwon Arrested
“Z” Doors Are Open: Rival Zero Knowledge EVMs