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Regulatory Scrutiny on the Rise of Bank and Crypto Company Dealings

USA - August 21 2022 Federal regulatory agencies are closely monitoring crypto-asset developments and banking organizations’ participation in the crypto-asset industry…

John B. Hutton III, Barbara A. Jones, William B. Mack, Benjamin M. Saul

OFAC Sanctions Cryptocurrency Mixing Service for Allegedly Facilitating Money Laundering

USA - August 15 2022 On Aug. 8, 2022, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) imposed economic sanctions on Tornado Cash, a popular…

Kara M. Bombach, Kyle R. Freeny, David I. Miller, Jena M. Valdetero

OFAC sanctions cryptocurrency mixing service for allegedly facilitating money laundering

USA - August 12 2022 On Aug. 8, 2022, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) imposed economic sanctions on Tornado Cash, a popular…

Kara M. Bombach, Kyle R. Freeny, David I. Miller, Jena M. Valdetero

FinCEN and BIS Warn Financial Institutions About Potential Evasion of Russian and Belarusian Export Controls

Belarus, Russia, USA - July 18 2022 On June 28, 2022, the Financial Crimes Enforcement Network (FinCEN) and the U.S. Department of Commerce’s Bureau of Industry and Security (BIS)…

Kara M. Bombach, Kyle R. Freeny

New York’s proposed moratorium on cryptocurrency mining operations

USA - June 23 2022 On June 2, 2022, the New York Senate passed Senate Bill S6486D (the Bill), which would amend the State’s environmental conservation law and set forth…

Claudio J. Arruda, William B. Mack, Sam NeJame, Steven C. Russo