Commentary by James Treanor
In its guidance, OFAC stated that "it is vital that the virtual currency industry prioritize cybersecurity and implement effective sanctions compliance controls to mitigate the risk of sanctioned persons and other actors exploiting virtual currencies to undermine U.S. foreign policy interests and national security."
The CFTC fined a crypto company for falsely claiming that its coins were backed by U.S. dollars and a second crypto company for executing illegal, off-exchange retail transactions in digital assets commodities.
The Investment Company Institute Board of Governors unanimously adopted a statement detailing steps that funds can take to facilitate a transition toward a lower-carbon economy, "consistent with a fund’s investment objectives and strategies, investors’ interests, and a fund manager’s fiduciary obligations."
A subcommittee of the CFTC Market Risk Advisory Committee recommended that interdealer brokers switch trading conventions from LIBOR to SOFR for USD non-linear derivatives beginning on November 8, 2021.
The Cabinet Regulatory Tracker is a list of effective dates and comment deadlines.