Crypto Monthly Update – August 25, 2022

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Course Duration: 14 minutes
Course Points: 10

This month’s Crypto Update by Calvin Koo, Cross-Border Disputes and Investigations Lawyer, Kobre & Kim LLP is focused on regulations and sanctions on cryptocurrencies. The update discusses the unprecedented sanction of Tornado Cash, despite its decentralized nature, the impact on individuals who receive unsolicited funds from sanctioned crypto exchanges, and views on crypto’s legal status.

The key topics covered in this update are:

  • US Department of Treasury’s OFAC added Tornado Cash to sanctions list
  • BitMex’s former head of business development pleaded guilty in the US for failure to put in place AML program
  • US SEC’s Chairman argued that crypto market should be treated the same as other capital markets
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