All posts by cfinertystelzner

Leading cryptocurrency exchange Binance Holdings, Ltd. (“Binance”) has agreed to pay a $4.3 billion fine as part of a proposed plea deal with federal law enforcement to resolve allegations that it engaged in money laundering, bank fraud, and sanctions violations.  As part of the agreement, the company’s CEO, Changpeng Zhao, will plead guilty to violations of the Bank Secrecy Act, resign from the company, and pay a $50 million fine.  The company has also agreed to appoint an independent compliance monitor for three years to ensure compliance with the plea agreement. The deal struck between the government and Binance represents... read more

Getnick Law has been ranked in Chambers USA Regional Spotlight Guide and recognized as a leading small to medium-sized law firm offering a credible alternative to Big Law. Getnick Law was selected based on an independent and in-depth market analysis, coupled with an assessment of our experience, expertise, and calibre of talent. Chambers Regional Spotlight: New York 2024 rankings were awarded to only 105 firms across 8 practice areas in 6 regions within New York. The ranked firms were recognized for their strengths in a specific area of the law. Getnick Law was recognized for the strength of its work... read more

At a recent Federal Bar Association webinar, Michael Granston, Deputy Assistant Attorney General in the Department of Justice, observed that the False Claims Act qui tam whistleblower law is more than a highly effective anti-fraud tool – it is also a tool against anti-competitive conduct. The concept is simple: honest companies trying to compete in a marketplace that is corrupted by fraud can be whistleblowers too.  Often, they are best-positioned to understand the detail and complexities of fraud by competitors that is causing a loss of business.  Using the False Claims Act qui tam law could not only achieve stability in... read more

On October 19, 2023, FinCEN issued a groundbreaking Notice of Proposed Rulemaking (“NPRM”) that “identifies international Convertible Virtual Currency Mixing (CVC mixing) as a class of transactions of primary money laundering concern.”  The NPRM marks the first time that FinCEN has used its authority under Section 311 of the USA PATRIOT Act to target a class of transactions as a money laundering concern.  If implemented, the regulation will impose heightened recordkeeping and reporting requirements on domestic financial institutions that engage in transactions involving CVC mixing. On October 24, three cryptocurrency experts – Claiborne (“Clay”) Porter, Jane Khodarkovsky, and Kevin Mosely... read more