Charlie B. McKenna, partner in the Firm's White Collar Criminal Defense and Investigations Group, and Hunt S. Ricker, partner in the Firm's Securities Litigation, Arbitration, Regulation and Investigations Group, recently authored an article for Westlaw Today, a part of Thomson Reuters, titled, "Cryptocurrency Finds Itself in the Sights of Robust Regulation." The article notes the increasing governmental regulations involved with cryptocurrency as well as specific examples of fraud or illegal actions related to cryptocurrency. "Governments, too, are worried, not only about losing power to cryptocurrencies in the long term, but in the short term as well. This is especially true in areas such as tax avoidance, money laundering and other illicit transactions, and the skirting of regulatory requirements."

The authors conclude, "As governments confront the many threats, perceived or otherwise, that cryptocurrency poses to their power and ability to maintain fiscal control, more laws, regulations and stringent enforcement will follow. If you are in or thinking about entering the crypto space, do so with the knowledge that government scrutiny will become more and more invasive and enforcement more robust."

See Cryptocurrency Regulations for a PDF of the article.

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