Blockchain Law Center
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Blockchain technology utilizes a distributed digital ledger to record and track information and can be leveraged to gain transparency and certainty in transactions ranging from cryptocurrency to supply chain tracking. This blog provides information on the legal developments surrounding implementation of blockchain technology, with an initial focus on the financial services sector.
Blockchain Law Center
2y ago
In a complaint filed on June 7, 2022, Wyoming-based Custodia Bank accused the Federal Reserve of illegally delaying a decision on Custodia’s October 2020 application for access to critical payment systems offered to other banks ..read more
Blockchain Law Center
2y ago
On June 7, 2022, Senators Kirsten Gillibrand (D-NY) and Cynthia Lummis (R-WY) unveiled their long-awaited bipartisan framework to overhaul the regulation of cryptocurrencies, including by defining most digital assets as commodities and granting the CFTC significant authority to regulate digital assets that do not qualify as securities under the Howey test ..read more
Blockchain Law Center
2y ago
The SEC has announced fraud charges stemming from unregistered offerings and sales of investment plans called mining packages, which promised investors signficant returns. ..read more
Blockchain Law Center
2y ago
The SEC announces an additional 20 positions dedicated to the unit responsible for bringing enforcement actions related to crypto markets and cyber-related threats. ..read more
Blockchain Law Center
2y ago
On April 27, 2022 the Acting Comptroller of the Currency, Michael Hsu issued a statement suggesting that the government should work together with the cryptocurrency industry and academics to develop uniform standards for stablecoins ..read more
Blockchain Law Center
2y ago
IOSCO, an international association of securities regulators which and includes the SEC and CFTC in its membership, just issued a Report about DeFi which may impact future legislation and regulation ..read more
Blockchain Law Center
2y ago
On February 9, 2022, CFTC Chair Rostin Behnam made a fresh appeal to Congress to grant his agency expanded authority to oversee crypto markets and provide $100 million in additional funds ..read more
Blockchain Law Center
2y ago
U.S. Treasury Under Secretary for Domestic Finance Nellie Liang testified before the House Financial Services Committee on February 8, 2022 and urged lawmakers to pass legislation to oversee stablecoin issuers ..read more
Blockchain Law Center
2y ago
On February 4, 2022, the U.S. Treasury released a report on money laundering in the art market stating that NFT platforms may be considered virtual asset service providers by the Financial Action Task Force and may come under FinCEN’s regulations ..read more
SEC Commissioner Does Not Anticipate Formally Introducing Direct Cryptocurrency Regulation This Year
Blockchain Law Center
2y ago
In recent remarks, SEC Commissioner Hester Peirce forecasted that the SEC will regulate cryptocurrency through enforcement in 2022 rather than creating new rules or adjusting existing rules to accommodate digital assets ..read more