PLAY RECORDING

Broadcast Date: Friday, June 24, 2022
from 12:00 pm to 1:30 pm (ET)

Overview:

As digital assets and distributed ledger technologies continue to develop, cybercrimes involving cryptocurrencies also worsen. From email phishing to ransomware, hackers have shifted their attacks into more pervasive and malicious forms breaking even the most sophisticated security systems. Thus, the DOJ, together with the National Cryptocurrency Enforcement Team (NCET) headed by Eun Young Choi, further expands its efforts to scrutinize and regulate the cryptocurrency market.

Businesses involved in the cryptocurrency space should be well-versed with all the emerging developments and scrutiny efforts that apply within the industry to avoid legal pitfalls.

Join a panel of key thought leaders and distinguished professionals organized by The Knowledge Group as they provide a comprehensive discussion of the recent trends and developments surrounding cryptocurrency enforcement. Speakers, among other things, will offer practical tips and strategies to avoid non-compliance.

Key issues that will be covered in this course are:

  • Latest Enforcement Trends and Regulatory Developments in Cryptocurrency
  • The National Cryptocurrency Enforcement Team (NCET)
  • Forms of Cryptocurrency-Related Cybercrimes
  • Emphasis on Interagency Cooperation
  • Practical Tips and Strategies to Avoid Non-Compliance
  • What Lies Ahead

Credit:

Course Level:

Intermediate

 

Advance Preparation:

Print and review course materials

 

Method of Presentation:

Live Webcast

 

Prerequisite:

General knowledge of cryptocurrency laws

 

Course Code:

149950

 

NY Category of CLE Credit:

Areas of Professional Practice

 

Total Credit:

1.5 CLE

Speaker Panel:

M. Ridgway Barker, Partner
Withersworldwide

Ridge Barker is a partner in Withersworldwide’s US corporate division. His practice focuses on a full range of business and corporate transactional matters including IPOs and other registered offerings, SPACs, Rule 144A / Regulation S / Regulation A offerings, private placements, asset securitizations, token analysis and structuring, token distribution, credit facilities, and debt financings, stock and asset M&A transactions, divestitures and spin-offs, recapitalizations, joint ventures, partnership transactions, forward purchase and sale transactions, corporate and family office governance, private equity, and venture capital formation and investment, equity and executive compensation, broker-dealer and investment adviser registration and regulation, public disclosure and reporting, corporate and regulatory compliance, internal and regulatory investigations, and corporate control litigation, among other areas.

Simona Mola, Senior Manager
Cornerstone Research

Simona Mola has two decades of experience in consulting, government, and academia. At Cornerstone Research, Dr. Mola conducts financial and economic analyses in complex commercial litigation and regulatory proceedings. Prior to joining the private sector, Dr. Mola was assistant professor at Arizona State University and also served as assistant director and senior policy advisor at the U.S. Securities and Exchange Commission. At the SEC, she led and developed numerous economic analyses for high-profile rulemakings and policy projects related to corporate finance, disclosure requirements, capital formation, corporate governance, and executive compensation. Dr. Mola has expertise with economic issues involving cryptocurrency, blockchain use cases, and token economies. She regularly publishes in the space and has presented in numerous conferences.

E. Patrick Gilman, Partner
Brown Rudnick LLP

Patrick Gilman is a partner in Brown Rudnick’s White Collar Defense, Investigations & Compliance Practice Group. Patrick is a former federal prosecutor in the United States Army and a seasoned trial lawyer with extensive experience before both federal and state trial and appellate courts. Patrick represents corporate and individual clients on all aspects of complex civil and criminal matters, corporate governance including internal investigations, cybersecurity and privacy, FCPA, Anti-Bribery, Anti-Corruption Due Diligence Investigations, OFAC Sanctions programs, developing and implementing corporate compliance programs, and representing companies and CEOs before both the DOJ and SEC. Patrick is a decorated combat veteran with more than 16 years of experience in investigations and litigation, national security law, and disrupting illicit financial criminal networks.

Agenda:

Segment 1

M. Ridgway BarkerPartner

Withersworldwide

  1. What is the NCET or National Cryptocurrency Enforcement Team?
    The DOJ recently created the National Cryptocurrency Enforcement Team or NCET, to add the structure and coordination to prosecution the illegal uses of cryptocurrency. That said, how can DOJ Task Force possibly coordinate investigations involving almost 10 different agencies?
  1. Lingering confusion created by lack of action.
    Congress and regulators continue to draw criticism from the industry and government officials for failing to provide clear guidance to those wishing to engage in lawful cryptocurrency transactions.  At best, it's regulation by enforcement.
  1. Businesses need to add digital assets compliance and monitoring teams.
    Anyone involved in the cryptocurrency markets needs to bolster their compliance teams and invest in training and monitoring tools for employees, market surveillance programs, compliance strategies, and “Know Your Customer” practices.  In a regulation by enforcement environment, be proactive.
  1. Will anticipated oversight bolster or derail momentum of digital assets?
     At once revered and reviled, digital assets balance undeniable promise of improving our financial marketplace as well as quality of life technologies like artificial intelligence and the internet of things against demonstrated potential for misuse and abuse. We need to ensure that manifest concern over its transactional value and regulatory future in an era of aggressive legislation does not negatively affect the progress that can be achieved with mature digital assets.

 

Segment 2

Simona MolaSenior Manager

Cornerstone Research

  1. Latest enforcement and regulatory developments in cryptocurrency
  2. DOJ’s Cryptocurrency Enforcement Framework and interagency cooperation
  3. Recent trends in interagency cooperation: focus on SEC, CFTC, and DOJ cryptocurrency enforcement
  4. National Cryptocurrency Enforcement Team (NCET) and future trends

 

Segment 3

E. Patrick GilmanPartner

Brown Rudnick LLP

  1. How companies can and should view cryptocurrency/dispelling the notion that crypto = criminal enterprise.
  2. Developing a robust compliance program that includes and considers cryptocurrency assets.
  3. Understanding that books, records, and accounting requirements will not be satisfied by DLT and their immutability.  Exchanges and crypto lending institutions need to remain cognizant of their compliance responsibilities as cryptocurrency as an asset moves generally unregulated and fringe to highly regulated, investigated, and mainstream.
  4. Companies who operate on a blockchain or accept cryptocurrency as payment must ensure their cybersecurity apparatus is mature and robust.  Hacking attempts, ransomware, theft and extortion is not simply possible, it is inevitable.  Failure to recognize that and develop detection and prevention tools sufficient to protect companies and their customers’ information will result in fines, litigation, and possibly criminal liability.

Date & Time:

Friday, June 24, 2022

12:00 pm to 1:30 pm (ET)

Materials:

Download Course Materials

Who Should Attend:

  • Cryptocurrency Companies Executives
  • Financial Executives
  • Finance Risk Management Officers
  • Banking & Finance Lawyers
  • Financial Crime Attorneys
  • Financial Crime Compliance Officers
  • Financial Crime Analysts
  • Finance Compliance Officers
  • Chief Compliance Officers
  • Fraud Monitoring Officers
  • Digital Finance Professionals
  • In-House Counsel
  • General Counsel

SPEAKERS

M. Ridgway BarkerPartner
Withersworldwide
Simona MolaSenior Manager
Cornerstone Research
E. Patrick GilmanPartner
Brown Rudnick LLP

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