Cryptocurrency is on the rise...and so are enforcement actions.
In less than a decade, cryptocurrencies have grown from a novelty reserved for those dealing in the illicit into a robust platform embraced by financial institutions and businesses alike. Wall Street and strategic investors have increasingly taken note, working to adapt their technology, streamline market trading and integrate cryptocurrency into everyday financial transactions. The rapid adoption of cryptocurrencies has also led to increased government enforcement activity. These actions evidence US regulators’ appetite to investigate fraud and other violations linked to cryptocurrency — often using traditional laws and regulations. Given this increased government scrutiny, financial institutions and traders should understand how regulators have policed the virtual world in the past in order to be prepared for the future. Read the full Client Alert.
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