Financial regulators are beginning to work together to counter what they perceive as cross-border threats posed by blockchain — including money laundering, terrorist financing, fraud, tax avoidance, and evasion of capital controls.… Continue Reading
All posts by Selva Ozelli
At the federal level in the United States, cryptocurrencies have a lot of regulators — FinCEN, OFAC, the IRS, the Commodity Futures Trading Commission (CFTC), and the SEC among them.
These regulators characterize cryptocurrencies respectively as money, property, commodities, and a security. … Continue Reading
Malta’s Prime Minister Joseph Muscat has described his country as the global trailblazer in the regulation of blockchain-based businesses and the jurisdiction of quality and choice for world class fintech companies.… Continue Reading
Canada has emerged as one of the cryptocurrency and blockchain centers of the world. Canada’s dominance in blockchain innovation stems in part from Toronto being home to Vitalik Buterin, the inventor of Ethereum Blockchain, which is the globally most adopted platform that supports ether (ETH), the second highest cryptocurrency valued at $63 billion. … Continue Reading
On March 12, President Trump issued an executive order blocking the biggest tech merger in history for fear that Broadcom Ltd “might take action that threatens to impair the national security of the United States.”… Continue Reading
During the first calendar quarter of 2018, there was a dramatic increase in enforcement actions globally involving allegations of bribery against heads of state. What’s behind the increase?
A report from TRACE International last month showed that 30 countries conducted 266 bribery investigations of foreign officials, while 82 countries conducted 218 bribery investigations of domestic officials.… Continue Reading
At a recent cryptocurrency workshop, financial investigators from the Interpol and Europol organizations from over 30 nations discussed measures to combat the misuse of cryptocurrencies by criminals.
This meeting was in response to the report released by Europol (with headquarters in the Hague, Netherlands) which stated (pdf) that more than 40 percent of online transactions for illegal ends used Bitcoin, crypto mixers, and tumblers. … Continue Reading
With Vitalik Buterin, Ethereum Blockchain’s principal inventor residing in Toronto, Canada it is no wonder that Canada ranks third in the world behind the United States and the United Kingdom when it comes to blockchain technology adaptation.… Continue Reading
The U.S. government and several of its agencies have been evaluating blockchain technology as a preventative measure against corruption that may distort the fair awarding of public procurement contracts, reduce the quality of basic public services, limit opportunities to develop a competitive private sector and undermine trust in public institutions.… Continue Reading
It’s ironic that Saudi Prince Al-Waleed bin Talal, the richest tech investor in the Middle East, criticized block chain technology and Bitcoin by calling it a “fraud.”
The Gulf Cooperation Council countries, including Saudi Arabia, have been working since 2014 to weave sharia compliant Blockchain technology and Bitcoin into their existing financial and legal infrastructure, while transforming them all at the same time.… Continue Reading
Bill Steinman recently wrote a post for the FCPA Blog about compliance risks in offset obligations. I’d like to continue that discussion, this time with some information about international cooperation to clean up offset transactions, and how the U.S.… Continue Reading