U. S. Law Enforcement Actions Against Cryptocurrency Businesses: A Review And Suggested Guidance
The rapid growth of cryptocurrencies in recent years has resulted in a number of law enforcement actions by several U. S. government agencies. These actions demonstrate U. S. regulators' interest in investigating fraud and other activities, according to Latham & Watkins, a Los Angeles-based, U. S. law firm. To give the cryptocurrency industry an overview of what agencies are taking action and provide insight into how to meet the various regulations, the law firm has released a report, "Enforcement Trends in Cryptocurrency." "No doubt, in the coming years, cyptocurrencies will face....
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The U.S. Securities and Exchange Commission (SEC) has brought 97 cryptocurrency enforcement actions so far. Furthermore, the securities regulator has imposed approximately $2.35 billion in total monetary penalties against digital asset market participants. 97 Crypto Enforcement Actions Cornerstone Research published a report titled “SEC Cryptocurrency Enforcement: 2021 Update” last week. The report analyzes SEC enforcement activities from July 2013 to December 2021, the company detailed, elaborating: Since the first action in July 2013, the SEC has brought a total of 97....
The U.S. Securities and Exchange Commission (SEC) has brought 75 enforcement actions against companies and individuals in the crypto industry so far, according to a new report by Cornerstone Research. The agency also brought 19 trading suspension orders against digital asset market participants, and 43 were litigated in U.S. district courts. 75 Crypto Enforcement Actions by SEC Cornerstone Research published a report entitled “SEC Cryptocurrency Enforcement” on Tuesday. The report analyzes 75 crypto-related enforcement actions brought by the SEC starting with the first one in....
During a crowded session at the Bitcoin 2013 show in San Jose today, a panel of businesspeople and attorneys addressed the knotty challenges faced by bitcoin businesses trying to comply with regulatory guidance. It's an issue that was lent new urgency this past week with the US government's seizure of assets connected with a subsidiary of Mt. Gox, the world's largest bitcoin exchange. Bitcoin businesses have also been treading carefully in the wake of new guidance recently issued by the US Financial Crimes Enforcement Network (FinCEN), which spells out registration and reporting....
US Financial Crimes Enforcement Network (FinCEN) director Jennifer Shasky Calvery said during a speech today that her agency is in the process of investigating businesses in the digital currency ecosystem. Calvery gave the keynote address during the first day of the 2015 West Coast Anti-Money Laundering Forum in San Francisco. FinCEN later published the text of her speech, which acknowledged that "a series of supervisory examinations of businesses in the virtual currency industry" had begun. The announcement comes a day after FinCEN, in conjunction with the US Attorney's Office in the....
Of the 75 enforcement actions on crypto brought by the commission from 2013 to 2020, the majority involved allegations of fraud or unregistered securities offerings. The United States Securities and Exchange Commission was one of the top regulatory enforcers for cryptocurrency projects in the last seven years, resulting in $1.77 billion in penalties.According to a report released yesterday by Cornerstone Research, the Securities and Exchange Commission, or SEC, brought 75 enforcement actions against crypto firms and individuals from July 1, 2013 to Dec. 31, 2020, mainly involving....