On April 18, 2019, the Financial Crimes Enforcement Network of the U.S. Department of the Treasury announced the assessment of a civil money penalty against Eric Powers for willfully violating the registration, program and reporting requirements of the Bank Secrecy Act and its implementing regulations. Between December 2012 and September 2014, Mr. Powers acted as
On April 3, 2019, the U.S. Securities and Exchange Commission published a framework aimed at assisting in determining whether a digital asset is a security. Alongside the Framework, the SEC also published a no-action letter for TurnKey Jet, Inc., the first ever no-action letter for a digital asset enterprise.
This is an important development for…
Partner Marc Elovitz outlines the key considerations for managers investing in cryptocurrencies in this SRZ Insights video.