Tag Archives: Virtual Currencies

Leaders of the SEC, CFTC, and FinCEN Issue Joint Statement Emphasizing AML Obligations for Digital Asset Activities

On Friday, the leaders of the Securities and Exchange Commission (“SEC”), Commodity Futures Trading Commission (“CFTC”), and Financial Crimes Enforcement Network (“FinCEN”) (collectively, the “Agencies”) issued a “Joint Statement on Activities Involving Digital Assets” (the “Joint Statement”).  The Joint Statement serves as a reminder that businesses engaged in activities involving digital assets – or, as … Continue Reading

New York DFS Announces New Division Overseeing Fintech

On July 23, the New York State Department of Financial Services (“DFS”) announced a new Research and Innovation Division.  The Division will assume responsibility for licensing and supervising virtual currencies.  It will also “assess efforts to use technology to address financial exclusion; identify and protect consumer data rights; and encourage innovations in the financial services … Continue Reading

FinCEN Extends Regulations to Initial Coin Offerings

On March 6, 2018, the Department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”) released its response to Senator Ron Wyden’s (D-OR) request for information relating to FinCEN’s oversight and enforcement of virtual currency activities.  In the letter, FinCEN outlined its intent to regulate certain operators of initial coin offerings (“ICOs”) as money transmitters subject … Continue Reading
LexBlog