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‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInSEC seeks sanctions against VW in emissions cheating case | Reuters
In its filing on Friday, the SEC alleged VW had violated a U.S. federal magistrate’s February 10 order requiring the company to make Duesterdiek available for a deposition. “Thorsten Duesterdiek is likely the most important witness in this case, and he is a big problem for VW. He had cradle-to-grave involvement in VW’s long-running defeat […]
U.S. Crypto Exchange Kraken Settles With Treasury Dept. – The New York Times
Kraken, a U.S. cryptocurrency exchange, agreed on Monday to pay more than $360,000 to the Treasury Department to settle accusations of sanctions violations involving virtual currency transactions by users in Iran. The Treasury Department’s Office of Foreign Assets Control said Kraken, the second-largest crypto exchange by volume in the United States, had agreed to a […]
Crypto Advocacy Group Sues U.S. Treasury Over Tornado Cash Sanctions – WSJ
A cryptocurrency research and advocacy group has filed a lawsuit challenging the U.S. Treasury Department’s sanctions against cryptocurrency mixer Tornado Cash. Coin Center, a Washington, D.C.-based crypto-focused think-tank, along with three individuals, filed suit against the Treasury Department Wednesday in federal court in the Northern District of Florida, asking it to remove Tornado Cash from […]
Bittrex Fined $24 Million for Breaking U.S. Sanctions – The New York Times
The cryptocurrency exchange Bittrex was fined $24 million for breaking U.S. sanctions, the Treasury Department announced on Tuesday, the largest penalty the government has imposed on a crypto business for violating sanctions. Between 2014 and 2017, Bittrex allowed customers in Cuba, Iran, Sudan, Syria and the Crimea region of Ukraine to make virtual currency transactions […]
U.S. issues criminal charges in first cryptocurrency sanctions case – The Washington Post
In the ruling, the judge called cryptocurrency’s reputation for providing anonymity to users a myth. He added that while some legal experts argue that virtual moneys such as bitcoin, ethereum or Tether are not subject to U.S. sanctions laws because they are created and move outside the traditional financial system, recent action taken by the […]
Counsel’s Misreading of Article May Prove Very Costly
Court awards full attorneys’ fees unless unless plaintiffs’ counsel can demonstrate “unreasonable burden.”