consistent with their mandates, to aggressively pursue investigations and enforcement actions against unlawful practices in the digital assets space.The reports encourage Consumer Financial Protection Bureau (CFPB) and Federal Trade ...
engaged in regular public-private dialogue, used its enforcement tools, and led in setting international AML/CFT standards. While our efforts have strengthened the U.S. financial system
Mr. Cohen also noted that while the Cyber Unit’s work is mostly reflected through enforcement actions, it has also been able to induce approximately twelve ICOs to be voluntarily put on hold pending review of whether the underlying token is a security such that the offering of the token must...
Made accurate disclosures regarding AI capabilities and implemented controls, policies and procedures to monitor uses of AI; and Made accurate risk disclosures and have adequate controls regarding crypto asset-related services and comply with relevant laws (e.g., custody, BSA/AML, valuation). 1SEC,...
“certain practices, products, and services that it believes present potentially heightened risks to investors or the integrity of the U.S. capital markets.” EXAMS prioritizes certain areas after a thorough risk-based assessment of information gathered from prior year examinations, en...
The enforcement pattern is clear: actions targeting institutions of all sizes have resulted in billions in penalties, with particular focus on senior executives' unauthorized communication channels. This demonstrates the SEC's unwavering stance on communications compliance. The path forward for 2025 is ma...
Direct costs, lost sales and reputational damage associated with product recalls, government enforcement actions, or product liability lawsuits, individually or in the aggregate, could have a negative impact on future revenues and results of operations. Our international operations are also subject to ...
The tone in 2021 has not changed for the SEC when it comes to noncompliance. The regulators will continue to penalize firms for failing to meet regulatory requirements, including fines and other enforcement actions. Firms should consider reviewing their controls, policies and procedures regarding the...
AML and counter-terrorist financing (“CTF”) laws and regulations, enforced by FinCEN, and economic sanctions enforced by the U.S. Department of Treasury’s Office of Foreign Assets Control (“OFAC”) in connection with our digital asset products and services. U.S. sanctions laws and ...
The SEC has brought dozens of enforcement actions against actors in the crypto space, leading its chair to conclude the industry is "rife with abuse." Advantages of Cryptocurrency One reason for cryptocurrency's enduring popularity is its promise to decentralize money and trade. According to propone...