11.9.2019

SEC Commissioner Hester Peirce (Crypto Mom) recently gave some remarks before the 51st Annual Institute on Securities Regulation. She called it Broken Windows.

To summarize her eloquent speech, she gave three recommendations on how the SEC can improve its enforcement ef...

9.15.2019

How to deal with a breach of contract when the breaching party lives in another country?

I’ve seen this a number of times when an American company contracts with a foreign company for  services in the cryptocurrency industry -- and then the foreign company fails to foll...

7.24.2019

WILL BITFINEX AND TETHER PROVE THEY DID NOT DO BUSINESS IN NEW YORK?

By Sasha Hodder on July 24, 2019

Today Bitfinex and Tether, replied to the OAG with two documents, an affidavit by their attorney, Stuart Hoegner, and a Reply Memo supporting their Motion to Dismiss....

7.9.2019

On July 8, 2019, the Securities & Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) put out a joint statement discussing broker-dealer custody of digital asset securities.

These organizations aspire to address compliance issues faced by c...

5.17.2019

“This guidance does not establish any new regulatory expectations or requirements.”

https://www.fincen.gov/sites/default/files/2019-05/FinCEN%20Guidance%20CVC%20FINAL%20508.pdf

TL;DR

An MSB needs to register with FinCEN, (it’s free, you file Form 107), get an anti-money l...

5.17.2019

The saga continues — NYAG v. Bitfinex/Tether

Quick Summary of the recent NYAG Decision and Order:

IN THE MATTER OF THE INQUIRY BY LETITIA JAMES, ATTORNEY GENERAL OF THE STATE OF NEW YORK, v. IFINEX INC., BFXNA INC., BFXWW INC., TETHER HOLDINGS LIMITED, TETHER OPERATIONS...

5.10.2019

FinCEN's recent guidance begins with the caveat, “This guidance does not establish any new regulatory expectations or requirements.” 

https://www.fincen.gov/sites/default/files/2019-05/FinCEN%20Guidance%20CVC%20FINAL%20508.pdf

TL;DR

An MSB needs to register with FinC...

5.1.2019

I came across a new (to me) aspect of the Bank Secrecy Act recently — rule [31 CFR 103.33(g)] (the “Travel Rule”) which requires all financial institutions to pass on certain information to the next financial institution, in certain funds transmittals involving more th...

2.13.2019

In today’s article, we will explore whether a Bitcoin hedge fund requires Securities and Exchange Commission (SEC) or Commodities and Futures Trading Commission (CFTC) registration.

What is a Bitcoin Hedge Fund?

A Hedge Fund (or Private Fund) is when you put two LLCs tog...

2.5.2019

On January 30, 2019, the State of Florida appealed forcing Mr. Espinoza to relive the trial for his 2013 and 2014 localbitcoins.com sales to undercover cops. See http://www.3dca.flcourts.org/Opinions/3D16-1860.pdf.

The counts against Mr. Espinoza include: Count 1 —...

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