The Evolving Crypto Regulatory Climate

The U.S. government’s tepid response to cryptocurrency’s many risks has all the makings of a showdown between the tortoise and the hare. But with crypto’s seemingly unfettered potential for wrongdoing – and vast sums at play – enforcement is making major strides in the race to regulate emerging currencies. “This is, not to be crass, a moneymaker for DOJ. There is a lot of money to be had, a lot of money to be seized. Colossal sums,” said Gil M. Soffer, a partner at Katten, during a panel discussion at the ABA’s 37th National Institute on White Collar Crime. Soffer and fellow panelists – from Akin Gump, Skadden and Greenberg Traurig – agreed that regulators and investigators alike will be very busy, but likely to be focused more on future prevention than past prosecution as crypto expands and diversifies. See “Implications of DOJ’s Pursuit of the Crypto-Laundering Couple” (Mar. 16, 2022).

To read the full article

Continue reading your article with an ACR subscription.