Category: Cryptocurrency

Crypto regulation during 2022

Effective regulations are one of the key gateways to cryptocurrency’s mainstream adoption. Due to greater compliance, crypto businesses saw broader acceptance from regulators worldwide. While the ecosystem was awarded countless operational licenses and exposure to new markets, the fall of Terraform Labs, FTX and Celsius, among others, had a negative impact on the industry’s reputation with investors and regulators alike.

Florida Woman Indicted in Cryptocurrency Money Laundering Scheme

A 37-year-old Florida woman has been indicted in a cryptocurrency money laundering scheme in the Eastern District of Texas, announced U.S. Attorney Brit Featherston. Sharena Seay, of Jacksonville, FL, was named in an indictment returned by a federal grand jury, charging her with money laundering.  She was arraigned in federal court by U.S. Magistrate Judge John D. Love.

Cryptocurrency: In The Face Of Increased Enforcement

In August alone, the New York Department of Financial Services (“DFS”) brought its first enforcement action against a DFS-licensed “virtual currency business” – resulting in a $30 million settlement with cryptocurrency investing platform Robinhood Crypto, LLC – and the U.S. Securities and Exchange Commission charged 11 people in an alleged crypto pyramid and Ponzi scheme called Forsage. The U.S. Department of the Treasury’s Office of Foreign Assets Control sanctioned and banned currency mixer Tornado Cash, alleging that the platform laundered more than $7 billion in virtual currency since launching in 2019.