August 28, 2023 @ 12:52 pm By JD Alois  |  

Representative Patrick McHenry, Chairman of the House Financial Services Committee, along with the Chairman of the Digital Assets, Fintech Subcommittee, French Hill, and the Chairman of the Oversight and Investigations Subcommittee, Bill Huizenga, have sent a letter to US Federal Reserve Chair Jerome Powell, criticizing… Read More

August 28, 2023 @ 12:31 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has filed charges against Impact Theory and the issuance of an NFT or non-fungible token that was deemed to be an unregistered offering of crypto asset securities. This is the first NFT offering that the SEC has targeted for… Read More

August 25, 2023 @ 12:06 pm By JD Alois  |  

The US Department of Treasury and the Internal Revenue Service (IRS) have announced proposed rules for the handling of digital assets and the sale and exchange of crypto. In a public statement, the two federal entities said the move was an effort to “crackdown on… Read More

August 25, 2023 @ 9:57 am By JD Alois  |  

Earlier this month, PayPal (NASDAQ:PYPL), a top publicly traded Fintech, announced the launch of a dollar-based stablecoin PayPal USD or PYUSD. The stablecoin is being issued in partnership with Paxos, a top, regulated digital asset firm. Stablecoins are one of the most promising sectors of crypto…. Read More

August 24, 2023 @ 6:33 pm By JD Alois  |  

Bank replacement platform Honeycomb has emerged as a top FINRA-regulated funding portal in regard to the number of Reg CF filings hitting the Securities and Exchange Commission. While this is not a deep dive into funding activity for the industry, HoneyComb has entered the mix… Read More

August 24, 2023 @ 11:35 am By JD Alois  |  

The founders of crypto mixer Tornado Cash have been hit with criminal charges from the US Department of Justice. The US Attorney for the Southern District of New York has filed charges of money laundering and sanction violations. Yesterday, an indictment was unsealed, charging Roman… Read More

August 24, 2023 @ 10:17 am By JD Alois  |  

Circle has announced that its dollar-based stablecoin, USDC, will be added to six new blockchains including; Base, Cosmos via Noble, NEAR, Optimism and Polkadot, and Polygon PoS. The first five will be added in September, with Polygon joining in October. By adding USDC to these… Read More

August 24, 2023 @ 9:29 am By JD Alois  |  

Yesterday, the Securities and Exchange Commission (SEC) adopted a new set of regulations for Private Fund Advisers. The new rules will require private fund advisers to provide investors with more information and sets a higher bar on compliance. Below, are several perspectives on the new rules… Read More

August 24, 2023 @ 8:44 am By JD Alois  |  

The Securities and Exchange Commission (SEC) has charged former New Jersey State Correctional Police Officer John A. DeSalvo with fraud in relation to the offering of the “Blazer Token,” which the SEC believes is a “crypto asset security.” At the same time, the US Attorney’s… Read More

August 23, 2023 @ 5:49 pm By JD Alois  |  

The Bank for International Settlements (BIS) has published a paper entitled Financial Stability Risks from Cryptoassets in Emerging Market Economies (EME). As one may surmise, the report addresses the risk of crypto and the impact on traditional financial services, including bank disintermediation. The research was… Read More

August 23, 2023 @ 3:00 pm By JD Alois  |  

A couple of years ago, a new online lending platform – Steward, was launched as the “world’s first CrowdFarming platform.” Steward was founded by Dan Miller, the co-founder of Fundrise, a prominent real estate investment platform. Miller had exited his leadership role at Fundrise and… Read More

August 23, 2023 @ 2:08 pm By JD Alois  |  

In an open meeting of the Commission today, the SEC approved new rules to regulate private fund advisors. The SEC said that the new rules are designed to “protect private fund investors by increasing transparency, competition, and efficiency in the private funds market.” SEC Chairman… Read More

August 23, 2023 @ 10:30 am By JD Alois  |  

LendInvest (LSE:LINV), a real estate financing platform, has launched a residential mortgage product. According to a statement from LendInvest, the product is now available to Legal and General Mortgage Club members. LendInvest states that Legal & General Mortgage Club is the largest and longest-running mortgage club… Read More

August 23, 2023 @ 9:09 am By JD Alois  |  

The European Investment Fund (EIF) and SME Finance in Lithuania have joined to provide €40 million in financing for businesses in the Baltics and elsewhere, according to a statement by the EIF. The EIF will be providing a guarantee to SME finance to provide investments… Read More

August 23, 2023 @ 7:24 am By JD Alois  |  

Zorrz, a UK-based Fintech that has created an AI-powered tool for credit analysis, has partnered with BNPL Sileon. Sileon is based in Sweden and specializes in “card-based Buy Now Pay Later” offerings. Sileon is listed on the Nasdaq First North Growth Market and has approximately… Read More

August 22, 2023 @ 5:29 pm By JD Alois  |  

Institutional trading platform DMALINK has surpassed its funding target of £425,000 on Seedrs. UK-based DMALINK aims to service institutions trading in FX and crypto globally. According to the offering page, DMALINK is raising equity capital at a pre-money valuation of £17.3 million. The investment is… Read More

August 22, 2023 @ 4:41 pm By JD Alois  |  

Digital asset bank Anchorage will soon power EDX Markets custody service. According to a release by the firm, the institutional crypto exchange EDX will utilize Anchorage for its clearinghouse service or EDX Clearing. EDX is a new digital asset marketplace aiming to provide services to… Read More

August 22, 2023 @ 2:35 pm By JD Alois  |  

EchoPay and Token.io have partnered to offer “account to account” (A2A) payments for wholesale merchants in the UK. Token.io is an open banking provider for the payments industry. The company reports that it processes payments for millions of merchants worldwide, including HSBC, Mastercard, BNP Paribas,… Read More

August 22, 2023 @ 7:36 am By JD Alois  |  

Property finance platform LendInvest has added automatic decisions in principle (DiP) in its latest platform update, according to a note from the firm. The goal is to streamline the financing process for residential mortgages further. LendInvest says that the DiP process is applicable for applications… Read More

August 21, 2023 @ 8:35 pm By JD Alois  |  

One of the ongoing themes of the Fintech sector is the fact that agile early-stage firms can do better with less. This is especially the case with old financial services firms, like lumbering banks. While Fintechs tend to combine industry knowledge with a vision of… Read More