The LEad Block
News Node
A curated selection of headlines and news from around this multiverse—including deals, developments and other disruptions in DeFi.
The US Treasury Department published new regulations taking effect March 1 that bar crypto exchanges from facilitating transactions for individuals and entities newly added to its Russian sanctions list.
In related news, a letter sent by four US senators to US Treasury Secretary Yellen sought information about the Treasury Department’s monitoring and enforcing of sanctions compliance by the cryptocurrency industry and the use of digital assets and alternative payment platforms as a method of hiding cross-border transactions for “nefarious purposes.”
Are cryptocurrencies sanction-proof? In the view of one crypto company CEO, there may be greater traceability of crypto and blockchain transactions than one might initially expect.
Commentators have noted that the current geopolitical climate will likely create a renewed push for investment in decentralized ways to store and transfer capital. In particular, entrepreneurs working to build decentralized, permissonless systems will likely see increased attention on – and investments in – these types of projects.
Venture capital firm Electric Capital’s new $1 billion fund – focused on investments in web3 infrastructure, DeFi protocols and platforms powered by NFTs and DAOs – joins several recent multibillion-dollar funds focused on these areas that have launched in recent months.
Always wanted to own an NFL team but never had quite enough cash to do it? Now you – and thousands (or more) of your closest friends – may have the chance with BuyTheBroncos DAO. Formed by a former Cisco employee, BuyTheBroncos DAO was recently launched to raise money to purchase the Denver Broncos for roughly $4 billion.
Select Events
Selected upcoming events for deeper dives into different parts of the digital assets and DeFi world.
March-June 2022
Surge Protection: Preparing for the Coming Wave of Enforcement Webinar Series. With the change in administration, the US Department of Justice (DOJ) announced in 2021 that a significant increase in corporate enforcement is coming. This policy shift is expected to add substantially to the burdens companies and executives under investigation may face, especially when coupled with additional announcements that the DOJ will surge resources dedicated to corporate enforcement. Mayer Brown has prepared a series of webinars which will include leading practitioners, in-house counsel and former government officials across practices to provide practical guidance and insight into how companies can prepare for these changes. The series will cover a wide range of topics including cryptocurrency; the Foreign Corrupt Practices Act; securities; anti-money laundering; sanctions and export control; cybersecurity; and antitrust issues.
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