May 16, 2023 @ 10:31 pm By JD Alois  |  

A UK Parliament Treasury Committee is calling for crypto to be regulated like gambling. This is due to significant risks to consumers as well as the heightened volatility of digital assets. Currently, around 10% of the UK population holds crypto. The Committee, which includes members… Read More

May 16, 2023 @ 4:03 pm By JD Alois  |  

Going Public, a series focused on entrepreneurship and capital formation has signed an agreement to stream the series on a dedicated partner page on MarketWatch later this year. MarketWatch is part of Dow Jones, the company that publishes WJS.com, Barrons, and more. While hosted on… Read More

May 16, 2023 @ 11:57 am By JD Alois  |  

A digital campaign is ongoing targeting Senator Sherrod Brown, Chairman of the Senate Banking Committee, on the issue of digital assets. On Twitter, the promotion states: “Ohio, it’s time for Sen. Brown to support digital assets. Digital assets help sustain job growth for the American… Read More

May 16, 2023 @ 11:12 am By JD Alois  |  

Today the Senate Banking Committee is holding a hearing on the failure of several banks that helped to drive fear and concern within the entire banking system. The hearing includes the testimony of Gregory Becker, former CEO of Silicon Valley Bank; Scott A. Shay, former… Read More

May 16, 2023 @ 10:07 am By JD Alois  |  

While the Jobs Act of 2012 was signed into law that year, towards the end of the Obama Administration, it took a few more years to complete the rules. The Securities and Exchange Commission eventually completed “Title III” of the JOBS Act, and Reg CF… Read More

May 16, 2023 @ 9:28 am By JD Alois  |  

The Securities and Exchange Commission (SEC) has filed charges against ten firms that raised money using the Reg A+ (Regulation A) securities exemptions. Each firm has agreed to pay a civil penalty ranging from $5000 to $90,000. Under the JOBS Act of 2012, Regulation A… Read More

May 15, 2023 @ 9:54 pm By JD Alois  |  

Last week a hearing took place that joined the House Subcommittee on Digital Assets, Financial Technology & Inclusion with the House Agriculture Committee’s Subcommittee on Commodity Markets, Digital Assets, and Rural Development entitled “The Future of Digital Assets: Measuring the Regulatory Gaps in the Digital Asset… Read More

May 15, 2023 @ 3:41 pm By JD Alois  |  

At one point, China was the top Fintech jurisdiction in the world, dominating online lending and other Fintech verticals along with a robust digital asset sector. That was then, and this is now – Fintech has been siloed into specific, approved businesses, and cryptocurrencies are… Read More

May 15, 2023 @ 3:28 pm By JD Alois  |  

Fintech ZestMoney appears to be falling apart after its founders announced they were departing the firm. ZestMoney, is a digital EMI/  BNPL platform that has announced multiple partnerships with some pretty big firms during its brief existence. A deal with PhoneRE was in the works… Read More

May 15, 2023 @ 12:10 pm By JD Alois  |  

Last week, EY Canada posted a status report on Quadriga – a Canada-based crypto exchange that fell into chaos after the founder died, leaving keys to accounts missing and many questions. It was eventually determined that over CAD $300 million in assets were claimed by… Read More

May 15, 2023 @ 11:42 am By JD Alois  |  

In 2021, WiGL became the first issuer to raise the maximum $5 million in a Reg CF (Regulation Crowdfunding) on StartEngine. In 2021, the Securities and Exchange Commission increased the amount a company could raise using Reg CF from $1.07 million to $5 million –… Read More

May 15, 2023 @ 11:21 am By JD Alois  |  

Creditshelf, an online lender service SMEs, is reporting high loan demand during the first three months of 2023. Creditshelf says it is the largest digital SME lender in Germany. Creditshelf said the requested loan volume increased by 15% to €490 million in the first three… Read More

May 15, 2023 @ 9:15 am By JD Alois  |  

Global private equity investments hit a 12-month low, according to a report. S&P Global Market Intelligence says in April 2023, private equity “plunged,” with deal value sinking by a whopping 66.8% year over year to $27.05 billion from $81.57 billion a year ago. Private equity… Read More

May 13, 2023 @ 4:32 pm By JD Alois  |  

After a bit of a struggle to gain access to the Canadian market, Binance has decided to exit the country. In an extended Tweet, Binance announced its decision. Unfortunately, today we are announcing that Binance will be joining other prominent crypto businesses in proactively withdrawing… Read More

May 12, 2023 @ 5:11 pm By JD Alois  |  

Earlier this week, during its earnings call, OTC Markets (OTC:OTCM) revealed that on May 5th, it had received FINRA approval to provide services for digital assets which are securities. In the May 9th earnings report, R. Cromwell Coulson, President and CEO of OTC Markets, stated:… Read More

May 12, 2023 @ 3:13 pm By JD Alois  |  

The French crowdfunding association, Financement Participatif France (FPF), has issued a statement regarding the potential for securities crowdfunding providers to enable local bond offerings. According to the FPF, the ability of platforms to provide a market for community bonds is “doomed to failure” following the… Read More

May 12, 2023 @ 10:36 am By JD Alois  |  

The Chairman of the House Financial Services Committee, Patrick McHenry, has announced another hearing on stablecoins. Scheduled by the Subcommittee on Digital Assets, Financial Technology, and Inclusion, the hearing is entitled: “Putting the ‘Stable’ in ‘Stablecoins:’ How Legislation Will Help Stablecoins Achieve Their Promise.” The… Read More

May 12, 2023 @ 10:25 am By JD Alois  |  

Seedrs has been a bit quieter following its acquisition by Republic but in recent days, the company has posted a comment on platform activity without providing and metrics. Published by Seedrs CEO and Republic EVP Jeff Kelisky, he noted the challenging economic environment that is… Read More

May 12, 2023 @ 8:55 am By JD Alois  |  

The Securities and Exchange Commission (SEC) has filed charges against GA Investors as well as anonymous operators or “John Does 1-4” alleging fraudulent offerings of securities that includes crypto. The SEC said the bogus offerings were made available through “dozens of websites.” The SEC is… Read More

May 11, 2023 @ 8:44 pm By JD Alois  |  

Mikko Salovaara has quit Revolut. Salovaara, who was the Chief Financial Officer (CFO), has exited the digital bank after just two years in the leadership post, according to multiple reports. While Salovaara has attributed his exit from the Fintech due to personal reasons, Revolut has… Read More