Cryptocurrency

With Crypto Scams on the Rise, Legislators Debate Regulations

Cryptocurrency scams are on the rise, and will become even more prevalent in 2022 according to security firm Lookout. That prediction is supported by data from the U.S. Federal Trade Commission, which found that from October 200 to May 2021, consumers reported losing more than $80 million to cryptocurrency scams—an increase of nearly 12 times…
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Fintech

Fintech Cybersecurity: A Plan for Innovation with Risk Mitigation

As the fintech industry rushes ahead to integrate new technologies, it’s leaving the door open for cyber attackers. The financial technology (fintech) industry is evolving at breakneck speed, driven in large part by its rapid adoption of innovative new technologies like artificial intelligence and blockchain-powered assets. By 2026, the current global fintech market is projected to…
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Data Protection

Opinion: How the U.S. Government’s Efforts Can Improve Data Privacy and Protection in 2021

This year, cybersecurity incidents, such as data breaches, have led to the proliferation of identity theft and fraud, facilitated by a lack of digital identity verification credentials. Additionally, data privacy legislation has gained momentum at the state level and become a key area of concern for lawmakers and citizens alike. Meanwhile, artificial intelligence and blockchain…
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Cryptocurrency

DOJ Announces National Cryptocurrency Enforcement Team

On October 6, the Department of Justice (“DOJ”) announced the creation of a National Cryptocurrency Enforcement Team (“NCET”).  The DOJ press release is set forth in part below, without further commentary, other than to observe that the NCET’s stated goals are to address issues on which we repeatedly have blogged:  crypto exchangers and their AML obligations; the…
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