The crypto-financing landscape, still barely in its infancy, is caught up in the perfect storm. Initial coin offerings (ICOs), a term meant to describe the offer and sale of digital assets issued and distributed on a blockchain, as well as crypto-trading platforms, where ICO tokens and coins trade like common stock, are under greater scrutiny than ever before – and with good reason.
•Congress has held hearings about crypto-related frauds, expressing grave concerns and demanding regulatory and law enforcement action ASAP;
•The U.S. Securities and Exchange Commission (SEC) is on a crypto-enforcement rampage filing new cases every week and remains poised to bring many, many more;
•The U.S. Department of Justice is arresting crypto-related lawbreakers, locking up crypto-promotors and affiliates for a variety of felonious conduct;
•Several U.S. States have initiated crypto-related round-ups and prosecutions, including the New York State Attorney General, who has issued a comprehensive and sweeping first round of inquiry to a broad range of crypto-trading platforms;
•The U.S. Treasury Department and the Financial Crimes Enforcement Network (FinCEN) have begun a slew of regulatory and enforcement actions pertaining to the litany of anti-money laundering (AML) responsibilities and requirements of crypto-related businesses; and
•The Internal Revenue Service has announced its intention to make sure all crypto-associated taxable events are fully paid and properly recorded.
This webcast explores, in plain English, the various U.S. statutes, rules and regulations which apply to the crypto-marketplace – and how the application of both old and new laws should ultimately shut down all ICOs and crypto-trading platforms involving U.S. investors. Discussion during this one-hour session will focus primarily on the extensive catalogue of applicable SEC and AML regulations.