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Crypto exchange civil asset forfeiture and the long tail of the law

Quick Take

  • The federal government has broad authority to seize assets involved in transactions that violate The Bank Secrecy Act
  • New case involves alleged violations by a small exchange that date back to 2014 and which was shut down by the federal government in 2017
  • Slow public-facing pace of enforcement and seizure activity in the space involving violations of BSA and OFAC may pick up in the next 12 months, as statutes of limitations on older violations begin to run out
Link to case Before we get to The Bank Secrecy Act and in rem asset forfeiture proceedings, let’s talk about bread. In particular, there’s nothing like a good piece of sourdough bread. Still warm from the oven and with a nice bit of sweet butter and a couple sprinkles of sea salt, it’s one of […]

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