Financial Regulatory & Compliance

On Dec. 14, 2022, the SEC announced charges against eight social media influencers in a $100 million securities fraud scheme in which they allegedly used social media platforms to tout

Continue Reading 8 Influencers Charged in $100 Million Securities Fraud Scheme

On Oct. 3, the Financial Stability Oversight Council (FSOC) took another step in identifying, assessing, and responding to the risks various types of digital assets pose to the financial system

Continue Reading Digital Assets: Financial Stability Oversight Council Risk Report Assesses Regulatory Gaps; Offers Recommendations

House Stablecoin Legislation

In late July the House Financial Services Committee made tentative plans to consider legislation to regulate stablecoins and require the Federal Reserve to study development of a
Continue Reading Will Cryptocurrency Legislation Gain Momentum in September?

On June 30, 2022, the U.S. Department of Justice (DOJ) announced criminal charges against six defendants in four separate criminal cases involving alleged fraud in the offering of cryptocurrency investment
Continue Reading DOJ Signals Concerted Effort to Prosecute Alleged Cryptocurrency Fraud

On June 8, 2022, the New York State Department of Financial Services (DFS) issued a new Regulatory Guidance, setting foundational criterial for USD-backed stablecoins used by DFS-regulated entities. This
Continue Reading NYDFS Becomes First US Financial Regulator to Issue Stablecoin Expectations to Virtual Currency Industry