Tagged: bitcoin

Episode 181 — Cryptocurrency Review: Matt Stankiewicz Discusses the SEC’s Case against Ripple, Predictions under the Biden Administration, and Bitcoin’s Corporate Surge

Matt Stankiewicz, Managing Counsel, The Volkov Law Group, and Michael Volkov discuss the latest events and trends within the cryptocurrency industry. Several major enforcement actions have hit the news recently, such as the CFTC’s case against BitMEX and the SEC’s high-profile action against Ripple and its XRP cryptocurrency.  We also discuss potential regulatory movement under the Biden Administration and what may be coming in the...

BitMEX Trading Exchange Earns Criminal and Civil Prosecution for AML Violations

We all have been following the rapid growth of cryptocurrency and the creation of lucrative trading platforms.  Cryptocurrency has earned the scrutiny of regulators and criminal prosecutors – not for run-of-the-mill fraud schemes, but for compliance with applicable anti-money laundering laws and regulations. Late in 2020, the Justice Department and the Commodities Futures Trade Commission (“CFTC”) slammed BitMEx and its principals with a coordinated criminal...

Drawing Legal Lines in Cryptocurrency Regulation: The Importance of Decentralization

The cryptocurrency market is exciting to watch.  Based on the revolutionary blockchain distributed ledger system, cryptocurrencies have exploded on the marketplace.  As with any new “gold rush” to hit a market, cryptocurrency has attracted scammers and common fraudsters, as well as sophisticated hackers who attack the cryptocurrency markets to steal valuable coins or other tokens. For the law-abiding investors and exchange operators, the CFTC, SEC...

Episode 33 — Bitcoin, Cryptocurrencies and Compliance — Interview of Matt Stankiewicz

Cryptocurrencies, including Bitcoin, are exploding on the marketplace.  Cryptocurrencies are promising huge technological advances in our economy by relying on the new blockchain technology. Initial coin offerings raised $7 billion in capital last year, and this year ICOs are expected to raise over $20 billion in capital. Bitcoin and other established cryptocurrencies have increased in value.  Bitcoin reached a high of nearly $20,000 and is now trading just...

Who’s on First, What’s on Second – Who is Regulating ICOs, Cryptocurrencies and Exchange Platforms?

Abbott and Costello’s famous routine — Who’s on First, What’s on Second — puts cryptocurrency regulation and enforcement risks in perspective.  Here is the classic comedy routine. When new technologies appear on the scene, Washington regulation is sure to follow.  The exact configuration can take years to sort out, especially when it comes to financial products, given the labyrinth of regulatory bodies seeking to lay...

Congress and the Blockchain: The 2018 Joint Economic Report’s Discussion on Cryptocurrency

Matt Stankiewicz, an Associate at The Volkov Law Group, rejoins us as a guest contributor for another posting on cryptocurrencies.  Matt can be reached at mstankiewicz@volkovlaw.com. A few days ago, Congress released its 2018 Joint Economic Report.  As many of you know, the Joint Economic Committee prepares this report as a national assessment of the country’s economic status.  The report often assesses the implications of a...