Cryptocurrency

STATE REGULATORY ACTION AGAINST BLOCKFI

Recently a ‘Cease and Desist Order’ was issued against BlockFi by the securities bureau of New Jersey prohibiting any further business activity in that state for the illegal sale of unregistered securities which included its high interest paying crypto savings…

MAIL IN BALLOTS ON THE BLOCKCHAIN

The conclusion seems obvious: if there is a threat to the mail-in voting system then a public system of tracking should be implemented to allow voters to track their ballots directly to the election authorities. This would provide an immeasurable…

MONEY TRANSMITTER LICENSE FOR CRYPTO BUSINESSES

The process of obtaining an MTL begins with FinCen registration, then registration with NMLS, which is a national database where over 30 states participate to approve a MTL in their respective states. So, the NMLS system is national, but each MTL is reviewed and approved by each individual state’s regulators.

NEW BANK SECRECY ACT CRYPTO GUIDANCE FROM US REGULATORS

The Securities & Exchange Commission (SEC), Financial Crimes Enforcement Network (FinCEN) and Commodity Futures Trading Commission (CFTC) have issued a joint statement that reminds certain parties of their continuing obligations under the Bank Secrecy Act (BSA) with respect to crypto…