THE ENVIRONMENT More developments in legislation to watch. Senators from leading states – NY and Wyoming – team up to propose allegedly reasonable new oversight over blockchain projects. Projected “Robust Enforcement” of Bank Secrecy Act. Cryptocurrency Companies to remain a focus of CFTC and Justice Dept. enforcement. SEC and Other Enforcement Actions SEC settles the […]
THE ENVIRONMENT In this edition, we highlight class action law suits as well as regulatory developments. In the blockchain space, the class action attorneys seem as active as the regulators. Remember to prepare for litigation as you run your compliance and governance programs. This month, in the case against Uniswap, plaintiffs claim users would have […]
Regulatory focus across the digital asset market is increasing in a bid to fight and prevent financial fraud, but nothing substantial has been achieved thus far. As an advocate for behavioral incentives over regulation by enforcement, I’m also focused on efficient, effective, and sustainable compliance and governance programs. I spend much of my time eliminating […]
THE ENVIRONMENT Developments to watch. Senator Warren and others introduced new legislation to meet a purported need to close the gap in sanctions compliance. Digital Asset Sanctions Compliance Enhancement Act of 2022 A great summary on the debate about whether digital assets are a material conduit for economic sanctions. The EU passed a proposal to […]
Another month of extraordinary developments. We hope you find these summaries helpful for setting priorities & educating your colleagues about risks. THE ENVIRONMENT This recent SEC Release gives a sense of the SEC’s concerns about digital assets as an underlying asset in securities products such as ETFs/ ETPs. The SEC asks for comment about whether […]
THE ENVIRONMENT Fraud Prevention & Cybersecurity OpenSea UI vulnerability allowed hackers to get NFTs below market with an inadvertent acceptance of a buy offer. State Securities Regulators Warn of Top Risks in 2022 – fraud is in the top 4 – crypto is #1. A measured approach to preventing fraud in DeFi – A Florida […]
We are excited for 2022! We believe innovation in blockchain and fintech will not replace but improve traditional finance allowing for strides in sustainable governance with Increased stakeholder participation Increased operational efficiencies Smart tech to increase ROI on compliance & risk programs We hope you continue to find the Warburton Report a helpful resource. Feedback […]
Investor protection continues to be a common theme and strategy for regulatory compliance and enforcement pressure points. As you consider year-end efforts, think about your compliance scorecard for transparency and duties to investors. COMPLIANCE NEWS Conflicts and Insider Trading with NFTs- OpenSea’s Nate Chastain is at the center of an insider trading scandal involving its NFT marketplace. Chastain has resigned […]
We are reminded that sustainable governance can be simple as tracking regulatory developments so the compliance program covers basic regulatory priorities. This edition is full of developments which are great reminders for training and policy discussions. What’s a recent example of why an effective compliance program protects founders and companies? DOJ investigations into Tether show, why regardless of regulatory […]
This edition is a round-up of anti-fraud and data protection developments. Please let us know if you have questions or comments. FINTECH Interesting diverse opinions from U.S. regulators regarding blockchain and cryptocurrency In what some call a landmark speech, the Federal Reserve’s vice chair for Supervision Randal Quarles argues that stablecoins “could encourage [international] use of the […]