Cryptocurrency Regulatory Framework and Regulatory Reporting

Jason Scharfman
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Jason Scharfman: Corgentum Consulting, LLC

Chapter Chapter 6 in Cryptocurrency Compliance and Operations, 2022, pp 115-135 from Springer

Abstract: Abstract This chapter provides an overview of the cryptocurrency regulatory framework and associated regulatory reporting considerations. The chapter begins by discussing reasons for the increased regulatory focus on cryptocurrencies. Next, the chapter proceeds to discuss the regulatory definition of cryptocurrencies. We then discuss the United Kingdom’s Temporary Registration Regime (TRR) to facilitate compliance with Financial Action Task Force (FATF) guidance and the EU’s 5th Anti-Money Laundering Directive. The chapter then proceeds to discuss the New York State Department of Financial Services (NYDFS) BitLicense. Next, regulatory case studies related to the Africrypt case and alleged violations related to Suspicious Activity Reporting (SAR) violations are discussed. The chapter concludes with a discussion of the regulatory oversight of ICOs.

Keywords: Crypto Regulation; Initial Coin Offerings (ICOs); New York State Department of Financial Services (NYDFS); BitLicense; 23 NYCRR Part 200; Africrypt; Securities and Exchange Commission (SEC) (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-030-88000-2_6

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DOI: 10.1007/978-3-030-88000-2_6

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