On May 21st, Alan Cohn hosted the 217th episode of The Cyberlaw Podcast. We took a deep dive into all things blockchain and cryptocurrency discussing recent regulatory developments and the current state of play of the industry. Jack Hayes discusses the status of regulation surrounding cryptocurrencies including anti-money laundering and sanctions compliance, the Department of
The Federal Communications Commission (FCC or Commission) last week added itself to the list of regulators that have issued guidance or raised warnings about crytpocurrency when it sent a notification about interference with wireless broadband signals from a Bitcoin mining device.
The FCC is the independent agency that regulates communications in the United States, and it has responsibility for regulating spectrum and radio waves in the United States to ensure, among other things, that licensed users of spectrum do not suffer from interference. While seemingly a remote concern from Bitcoin, the mission of the FCC collided with a miner in New York City. …
Continue Reading Bitcoin Captures the Attention of Yet Another Regulator
Government regulators are increasingly focused on blockchain and cryptocurrency activity, a development that some, such as IMF head Christine Lagarde have called inevitable. In the US, the Financial Crimes Enforcement Network (FinCEN), the Commodity Futures Trading Commission (CFTC), and the Securities and Exchange Commission (SEC) have issued statements, enforcement actions, and penalties involving blockchain and cryptocurrency activities, and they are not the only agencies monitoring these activities. As a result, it is important for industry participants to be prepared to respond to potential regulatory inquiries.
This is why Steptoe has partnered with Thomson Reuters to publish a “one-stop” guide to the regulatory landscape and best practices for responding to blockchain and cryptocurrency-related investigations.
Continue Reading A “One-Stop” Guide to Blockchain Regulation and Best Practices for Responding to Investigations