Insights

With the Russian invasion of Ukraine, many in both countries have turned to crypto and digital currencies – Ukrainians received almost US $100 million in crypto donations, and ordinary Russians used crypto as a haven against the falling ruble and capital controls. But there is a concern that cryptocurrency can be used to facilitate wrongdoing, including to evade sanctions. Kobre & Kim’s Benjamin Sauter, who focuses on government enforcement and asset recovery in the crypto space, analyzed this issue when he spoke with the magazine Raconteur of The Times.

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The landscape of blockchain technology and cryptocurrency has long seemed like a Wild West. But as Kobre & Kim’s Andrew Stafford KC, Timothy de Swardt, Melisa Ortes González and Calvin Koo detail in Commercial Dispute Resolution, in jurisdictions like the United Kingdom, the British Virgin Islands, Hong Kong and the United States, the sheriff is very much in town.

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The U.S. Department of Treasury launched a new whistleblower program for information leading to the seizure of stolen assets linked to foreign government corruption, just in time to join global sanctions efforts against Russian oligarchs. Kobre & Kim’s Jason Short, who represents high-net-worth individuals in asset forfeiture proceedings and sanctions enforcement, spoke to USA Today on the program’s scope – as well as its risks and limitations.

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The Russian invasion of Ukraine has led the United States and its allies to sanction Russian oligarchs and seize their yachts, condos and other assets. Kobre & Kim’s Evelyn Sheehan, a former U.S. federal prosecutor who led asset forfeiture efforts from South Florida, sat down with NPR’s “Planet Money” to explain the difference between sanctions and asset seizures, and to offer a word of caution against ensnaring innocent third parties.

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Even as the cryptocurrency and digital asset industry continues to grow, a vast regulatory gulf persists even in the U.S., and the uncertainty this creates is only set to intensify. Kobre & Kim’s David McGill, who represents clients in the finance and crypto industries against government enforcement, explains when he spoke with Orbit TRC.

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A recent landmark UK Supreme Court ruling confirms a reasonable expectation of privacy for individuals who are under criminal investigation but have not been charged. Kobre & Kim’s Miranda Ching, Robin Rathmell, Edward Smith and Polly Wilkins – part of the International Private Client team in London – write in WealthBriefing what the implications of this ruling are for high-net-worth individuals (HNWIs) sensitive to press intrusion.

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With the country’s strength in technology and pop culture, South Korea is seeing a rise in popularity of non-fungible tokens (NFTs). From tech and financial companies to K-pop agencies and Korean drama and video game producers, more industries are laying the groundwork for an NFT boom. However, as Michael Kim, Daniel Lee and Nathan Park explained in an article for Asia Business Law Review, the legal status of NFTs in Korea remains ambiguous.

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In a Portuguese TV interview with Brazilian news program Domingo Espetacular, Kobre & Kim’s Martin De Luca – the only former U.S. prosecutor in Brazil – introduced the U.S. criminal investigation and prosecution process to the show, which airs Sunday evenings.

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In her eponymous Monaco Memo, U.S. Deputy Attorney General Lisa Monaco announced a number of changes to DOJ policies, including how the Biden administration will weigh the costs and benefits of imposing a corporate monitor. Speaking with the Anti-Corruption Report, Kobre & Kim’s Wade Weems outlined expectations for an increase in the use of monitorships. 

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Microsoft has escaped scrutiny from U.S. legislators and antitrust regulators in recent years, even as pressure builds for other Big Tech companies, but the firm’s bid to acquire video game giant Activision Blizzard may put it back on the radar. Kobre & Kim’s Benjamin Sirota, a former U.S. federal antitrust prosecutor, previews what regulators might look for when he spoke with Quartz.

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The U.S. Securities and Exchange Commission (SEC) is ramping up scrutiny of private funds as it proposes new rules increasing disclosures to the agency. Kobre & Kim’s David McGill, who regularly represents hedge funds and traders against government enforcement actions, looked at the potential consequences of the rule change when he spoke with Reuters.

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Recent U.S. Department of Justice (DOJ) policy changes announced by Deputy Attorney General Lisa Monaco in the “Monaco Memo” indicate a redoubled focus on investigating and prosecuting individuals for white-collar crime and corporate corruption. But corporations should not expect a free pass, former U.S. federal prosecutor Scott Hulsey told the Anti-Corruption Report.

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From the firm’s goals and unique business model to the firm’s strategy and his end game, Kobre & Kim co-founder Michael Kim shared his experiences in founding and building a law firm from scratch when he sat down with CM Murray Managing Partner Clare Murray on their podcast series, Law Firm Founder Conversations.

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Even as the U.S. Commodity Futures Trading Commission (CFTC) has relentlessly (and successfully) pursued enforcement actions in cryptocurrency markets, its jurisdictional authority is actually on shaky grounds. Kobre & Kim’s Benjamin Sauter and David McGill explain in an article for Forkast News. 

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As part of U.S. law enforcement’s focus on fighting money laundering and corruption in Latin America, sanctions have become a “powerful, rapid-fire tool” in the arsenal, Kobre & Kim’s Evelyn Sheehan told Aguilar Castillo Love’s Natalia Callejas in the second part of a Q&A on new enforcement trends in the region.

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