The first cryptocurrency transactions occurred almost nine years ago. Over that period, the value of such currency has exhibited great volatility, ranging from 1 cent per coin to USD 17,900. Nevertheless, governments around the world have been slow to respond and implement regulatory regimes. Not only are buyers of coins vulnerable to this astonishing variability but they have been left very susceptible to criminals hacking crypto exchanges, draining crypto wallets and infecting computers with cryptocurrency-stealing malware. In addition, while cryptocurrency transactions are being utilized for legitimate business purposes, they have also lent themselves to money laundering and terrorist financing.
This session will explore what regulators in the United States and South Korea are doing to take control of this wild west atmosphere, including promulgating formal regulations, conducting enforcement actions, and issuing subpoenas, document requests and cease-and-desist orders. The session will also explore the potential civil and criminal penalties that could soon become a core focus of regulatory enforcement in the cryptocurrency world, particularly in the area of anticorruption, anti-money laundering and economic sanctions violations. Finally, the session will touch on what remedies, including arbitration, may be available to buyers to recover stolen cryptocurrency.
Read the program brochure for more information.