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Regulator Seeks Comments on DeFi; Crypto Firms Announce Products, Licenses, DAO Application Updates; NFT Boom Continues; OFAC Adds Bitcoin Address | BakerHostetler

Regulator Seeks Comments on DeFi; Crypto Firms Announce Products, Licenses, DAO Application Updates; NFT Boom Continues; OFAC Adds Bitcoin Address | BakerHostetler
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US sanctions seven Chinese officials over Hong Kong democracy crackdowns

July 17, 2021 01:26:04 pm The US Department of Treasury imposed Friday sanctions on seven Chinese government officials over the crackdown on democracy in Hong Kong. The seven individuals added to Treasury’s “Specially Designated Nationals and Blocked Persons List” list were Chen Dong, He Jing, Lu Xinning, Qiu Hong, Tan Tienui, Yang Jianping, and Yin Zonghua. All of these individuals were deputy directors at China’s Hong Kong liaison office. Secretary of State Antony Blinken remarked that China has “has chipped away at Hong Kong’s reputation of accountable, transparent governance and respect for individual freedoms, and has broken its promise to leave Hong Kong’s high degree of autonomy unchanged for 50 years.” Secretary Blinken further stated that Chinese officials have “systematically undermined Hong Kong’s democratic institutions, delayed elections, disqualified elected lawmakers from office, and forced officials to take loyalty oaths to keep their jobs” ove

U S to Warn American Businesses on Dangers of Operating in Hong Kong

U S to Warn American Businesses on Dangers of Operating in Hong Kong
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SCOTUS TransUnion & PennEast Pipeline Decisions

“No concrete harm, no standing.” For the majority in  TransUnion v. Ramirez (No. 20-297), it was that simple. The case involved a key class action issue: whether members of a class who may have been subjected to the same violation of law but who suffered no concrete injury could properly take part in a class-action lawsuit. The Ninth Circuit held that they could, but, in a 5-4 decision penned by Justice Kavanaugh, the Court disagreed. In the wake of the September 11th attacks, TransUnion developed a new and more expensive type of credit report that flagged whether an individual’s name matched a name on a list of “Specially Designated Nationals,” prepared by the U.S. Department of Treasury Department’s Office of Foreign Assets Control (the OFAC list). The OFAC list included terrorists, drug-traffickers, and other serious criminals. In general, U.S. businesses are prohibited from doing business with those on the list, which obviously would create issues for anyone falsel

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