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ICO Tokens & the SEC: You Can’t Even Give Them Away …. No, Seriously

Summary:    The SEC has issued a Cease & Desist Order and sanctions against a token issuer and its founder.  Among several findings, the SEC determined that the “Bounty Program” run by the issuer constituted a securities offering.  The Order states “a ‘gift’ of a… Read More

Liechtenstein Cryptoassets Exchange: Binance LCX Announces Fiat-to-Crypto Exchange for Both Retail & Institutional Investors

The Liechtenstein Cryptoassets Exchange (LCX) has announced its intent to launch a portfolio of services for digital assets. The new exchange will be built in partnership with Binance to provide a fiat to crypto exchange. The new exchange, entitled Binance LCX, will also include crypto custody…. Read More

Banking for the Cryptocurrency Age: Palladium to Purchase European Bank, Predicted to Become a “New Global Leader in Fintech”

At the beginning of July, a new blockchain startup in Malta was announced. Malta, being one of the most crypto friendly countries around, has become host to multiple exchanges and blockchain startups. In an industry not known for being humble, Palladium was revealed as the… Read More

Tomahawkcoin: SEC Bans Alleged ICO Fraud Perp with Previous Criminal Conviction

The Securities and Exchange Commission has received a permanent ban on David T. Laurance and his Tomahawk Exploration LLC. Laurence attempted to raise money issuing a “Tomahawkcoin” (TOM) in an initial coin offering (ICO). While the ICO was not successful it tripped the fraud triggers… Read More

PeerIQ CEO Ram Ahluwalia on OCC Fintech Charter: Consumers Win if it is Implemented Correctly

At the end of July, the US Department of Treasury published a wide-sweeping document on Fintech innovation in the US and what must be done to boost innovation in financial services. While much of the document addressed much needed regulatory reform and overlapping state and… Read More

Funding Societies Tops S$ 200 Million in SME Crowdfunded Loans

Singapore based Funding Societies, a leading peer-to-peer (P2P) lending platform in Southeast Asia, has topped S$ 200 million mark in total crowdfunded SME loans. Funding Societies notes that this accomplishment arrives just 6 months after crossing S$ 100 million in January of this year. The… Read More

Cambridge Centre for Alternative Finance Publishes Document on Distributed Ledger Technology, Seeks to Provide Common Framework for Fast Emerging Blockchain Industry

Defining Distributed Ledger Technology Distributed Ledger Technology (DLT), also frequently referenced as blockchain, is a fast emerging sector of finance but also has the capacity to extend into other sectors of industry. Yet DLT is frequently misunderstood and regularly terminology is at odds across sector… Read More

China: WeiyangX Fintech Review

China Issues its First Blockchain-based Electronic Invoice in Shenzhen This week, a restaurant in Shenzhen issued a blockchain-based electronic invoice, making it the first case in China. This invoice innovation is led by Shenzhen Municipal Taxation Bureau, technically supported by Tencent, and approved by the… Read More

FinCEN Director Kenneth Blanco Addresses Tough Topic of Cryptocurrency, Attorney Joshua Klayman Adds Insight to Topics Discussed

This week, at an event in Chicago that focused on legal questions swirling around the emerging cryptocurrency industry, FinCEN Director Kenneth Blanco delivered a much anticipated speech regarding his agency’s thoughts on digital assets and virtual currencies. FinCEN is part of the US Department of… Read More

Overstock Reports Q2 Earnings, Provides Update on Blockchain Initiatives including tZero: “Security Tokens are an Innovation of Historic Proportions”

Overstock (NASDAQ:OSTK) reported financial results for the quarter ended June 30, 2018 today. Top line numbers included $483.1 million in revenue a 12% increase versus same quarter last year. Gross profit increased by 9% to $91.7. Overall, performance came in as follows: Gross margin: 19.0% vs…. Read More

Research: Marketplace Lending DOES Benefit Borrowers but Improving Credit Scores May Mean More Debt

There has been an ongoing debate regarding the benefits of marketplace lending when it comes to consumer loans.  A Federal Reserve study hammered peer to peer lending (ie marketplace lending) in late 2017 only to see the study pulled as industry advocates highlighted shortcomings in… Read More

Fintech: UK Financial Conduct Authority Initiates Consultation on Global Financial Innovation, Partners with 12 International Regulators

The UK Financial Conduct Authority (FCA) has initiated a new consultation that is going beyond the UK borders when it comes to Fintech innovation. Announced today, the FCA has created the Global Financial Innovation Network (GFIN). The multinational group includes regulatory agencies from the US,… Read More

Petition the SEC: Raise the Crowdfunding Limit to $20 Million

“small businesses are still shut out from equity crowdfunding due to the current regulatory constraints.” Recently, a group of prominent small business advocates and crowdfunding industry insiders sent a letter to Securities and Exchange Commission (SEC) Chairman Jay Clayton. The group, which included representatives of… Read More

Darren Marble: Bullish on the Emerging Security Token Offering Market in the US

Darren Marble, CEO and founder of CrowdfundX, a firm that provides a modern spin on financial marketing for the new world of Fintech and online capital formation,  recently commented on the trends and observations in the U.S. security token market. In the write up, Marble made various… Read More

KPMG Report on Fintech: 2018 Started with a Bang as Fintech Investment Gained Momentum

KPMG has published their Pulse of Fintech report highlighting global Fintech activity for the first half of 2018. According to KPMG, global investment in Fintech is going gangbusters as “Fintech market activity worldwide gained momentum during the first half of the year as the geographic… Read More

Why Real Estate Deals, Not Startups are the Big Success Story of Equity Crowdfunding

Equity crowdfunding for startups was supposed to be a game-changer. The excitement began in 2013 when Title II of the JOBS Act gave individuals who met certain requirements for income or net worth—called accredited investors—the ability to invest in some types of assets that had… Read More

Attorney Brian Korn: Fintech Charters Will NOT be Effective Unless Federal Preemption is Available to Holders

After years of discussion, and multiple attempts by traditional finance to block a Fintech Charter offered by the Office of the Comptroller of the Currency (OCC), in a surprise move the OCC announced this week it would begin accepting applications from Fintechs to gain a… Read More

The Stuttgart Stock Exchange Pushes into Digital Assets, will Support Initial Coin Offerings & Trading in Cryptocurrency

The Stuttgart Stock Exchange (Gruppe Börse Stuttgart) has announced it is launching infrastructure necessary to trade and manage digital assets including the trading in cryptocurrencies, an initial coin offering platform, custody and wallet. Following the launch of cryptocurrency trading via BISON, a platform for ICOs,… Read More

$6 Billion Valuation: Hedera Hashgraph Raises $100 Million, Opens Public Crowdsale to Back Next Gen, Super Fast DLT

Hedera Hashgraph, a super fast iteration of distributed ledger technology (DLT or blockchain) has raised $100 million from both institutions and high net worth individuals. The new funding round is said to have delivered a whopping $6 billion valuation to the emerging Fintech firm. Management, and… Read More

Here is the Licensing Manual Supplement from the OCC Pertaining to Applications for Fintech Charters

The Office of the Comptroller of the Currency (OCC) announced its intent to move forward with Fintech Charters following a policy document on Fintech published by the US Department of Treasury. The announcement was accompanied by an update to the OCC’s licensing manual. The document… Read More