Cryptocurrency finds itself in the crosshairs of robust regulation – Criminal Law
United States: Cryptocurrency finds itself in the crosshairs of robust regulation
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Charlie B. McKenna, a partner in the firm’s White Collar Criminal Defense and Investigations Group, and Hunt S. Ricker, a partner in the firm’s Securities Litigation, Arbitration, Regulation and Investigations Group, recently wrote an article for westlaw today, part of Thomson Reuters, titled “Cryptocurrency in the crosshairs of robust regulation.” The article notes the increase in government regulations involved with cryptocurrency as well as specific examples of cryptocurrency-related fraud or illegal actions. “Governments are also concerned, not only about the loss of power of cryptocurrencies in the long term, but also in the short term. This is especially true in areas such as tax evasion, money laundering and ‘other illicit transactions, and circumvention of regulatory requirements.’
The authors conclude, “As governments grapple with the many threats, perceived or not, that cryptocurrency poses to their power and ability to maintain fiscal control, more laws, regulations, and tough enforcement will follow. you are or are planning to enter the crypto space, do so knowing that government control will become increasingly pervasive and law enforcement will become increasingly robust.”
See Cryptocurrency regulations for a PDF of the article.
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