Politics, Legal & Regulation

Cryptocurrency Laws Winding Through Russian Assembly Now – Terms Clarified

Russian Prime Minister Dmitry Medvedev has spoken publicly about how draft laws winding their way now through the Russian parliament will define cryptocurrencies and tokens. Bitcoin.com reports that Medvedev recently told an audience at a plenary session of the St. Petersburg International Legal Forum: “We need… Read More

Head of French Regulator AMF Comments on Crytpo Asset Losses, Throws Shade at Madrid Football Team Due to Crypto Sponsor

The Autorité des Marchés Financiers (AMF) released its annual report this past week. As part of the release, Chairman of the AMF Robert Ophèle delivered a speech highlighting important issues and challenges within the financial markets. During his speech, Ophèle commented on “toxic investments.” While first addressing binary… Read More

European Parliament Committee Passes Blockchain Resolution

The European Parliament, Committee on Research, Industry and Energy, passed a blockchain resolution yesterday (May 16th) capturing solid support with 56 in favor and 3 opposed.. The resolution included a section on initial coin offerings. European Parliament resolution on Distributed ledger technologies and blockchains: building… Read More

SEC Office of Investor Education Creates Mock Initial Coin Offering “HoweyCoins.com”

The Securities and Exchange Commission (SEC) Office of Investor Education and Advocacy has created a bogus website to highlight the scam riddled initial coin offering (ICO) industry. The mock site, HoweyCoins.com, touts a “too good to be true” investment opportunity seeking to mimic a fraudulent… Read More

US Regulators on Consensus Panel Claim Their Doors Open and Rules Clear Regarding ICOs (Initial Coin Offerings)

Representatives from the three bodies policing securities in the US and the Chief Strategy Officer from the Bittrex cryptocurrency exchange spoke on an “Enforcement” panel May 15 at the Consensus conference in New York. Citing an “open door” policy, the regulators- James McDonald, Director of… Read More

John Berlau to SEC Commissioner Jackson: Companies Going Private and Delisting to Escape Regulatory Costs Have Contributed to a Massive Decline in the Total Number of Public Companies

Towards the end of April, SEC Commissioner Robert J. Jackson Jr. delivered a heartfelt speech in Cleveland about the decline of initial public offerings (IPOs) in the US. While there has been much debate regarding the cause of this decline (with some questioning whether it even… Read More

CoinList is Holding Office Hours for FREE Legal Advice on ICOs

CoinList, an offshoot of AngelList, is positioning its platform to list a few, promising initial coin offerings (ICO) on an ongoing basis. The very first ICO listed became a blockbuster offering raising over $200 million in a blink of the eye. Filecoin listed the token… Read More

New York Judge Presiding Over Crypto Fraud Case Decries Lack of Clear Regulation

A Brooklyn judge sitting a case of accused cryptocurrency fraud has expressed frustration over regulatory lag affecting his ability to judge the case. The accused, Maksim Zaslavskiy, was charged with fraud last November after SEC and FBI investigators alleged that he and REcoin Group Foundation,… Read More

CFTC Chair Giancarlo Joins Chorus of Positive Comments on SEC Commissioner Peirce’s Speech on Cryptocurrency Innovation

Last week, SEC Commissioner Hester Peirce delivered a powerful speech that shared her views on the mission of regulators broadly, and cryptocurrency innovation specifically. The speech has been widely lauded in the crypto space as it has been viewed as supportive of the potential for… Read More

Colorado Pro-Crypto ICO Bill Fails

A bill (HB 1426) that would have made Colorado a haven for ICO’s (Initial Coin Offerings) failed to pass a third reading Wednesday in the Colorado Legislature by a narrow margin of 18-17, the Denver Post reports. ICO’s are a type of tradable “digital asset”… Read More

Prominent Cryptocurrency Attorneys Lewis Cohen and Angela Angelovska-Wilson Launch New Law Firm DLx Law

In a report today, it was announced that Lewis Cohen, formerly of white shoe law firm Hogen Lovells, and Angela Angelovska-Wilson, recently the GC of Digital Asset, have formed their own law firm targeting the blockchain industry. The new firm, DLx Law, is designed to “align… Read More

Enigma Blockchain: Anguilla Will Become World’s First and Only Government-Regulated Cryptocurrency Offering Registrant

On May 4th, the government of Anguilla announced the “world’s first” blockchain token offering registration process for “utility tokens.” The Anguilla Utility Token Act or “AUTO Act,” is designed to facilitate clearly defined utility tokens that do not have a feature of a security. Anguilla… Read More

NASAA Tackles Cryptocurrency Regulation in Policy Roundtable

The North American Securities Administrators Association (NASAA) held a public policy roundtable this week in Washington, DC. One of the big topics of the gathering was “What the Rise of Cryptocurrency Means for Investor Protection.”  NASAA is the group that represents state and provincial regulators. These… Read More

Proposed Brand-Overlap Lawsuit Against Bitcoin Cash Dropped

A proposed lawsuit by (standard) Bitcoin users against the Bitcoin Cash-controlled website Bitcoin.com and it’s CEO Roger Ver has been dropped. Ver, one of the most dedicated and high profile early adopters of Bitcoin, and several partners (including Jihan Wu, owner of the world’s largest… Read More

SEC Commissioner Hester Peirce Says Change is Hard for Regulators, Cryptocurrency Innovation May be Good

“The regulator should be careful not to try to control the development of new technologies.” – Hester Peirce, SEC Commissioner SEC Commissioner Hester Peirce delivered a fascinating speech in LA today, addressing the challenges of innovation in the financial services sector while providing insight into… Read More

New York State Bill Would Add Another Compliance Hurdle with “Limited Charter” for Online Lenders

The State of New York is may create a new regulatory hurdle, and associated cost, for online lenders. A bill (Senate Bill S8340) sitting in the New York State Senate now, will create a limited state charter for internet lending. Sponsored by New York State… Read More

CFTC Chair Giancarlo Calls for Cross Border Regulatory Cooperation, Revisits Regulatory Reform 2.0 White Paper that Advocates Blockchain Utilization

Speaking in Berlin this week, Commodity Futures Trading Commission Chair J. Christoper Giancarlo addressed the Association of German Banks. His theme was the pressing need for regulatory harmonization. Today, across developed markets, varying financial regulations adds a significant cost to the financial services industry. Same… Read More

Cryptocurrency Ripple Facing Class Action Lawsuit Alleging Violation of US Securities Law

Ripple Labs, the company behind the cryptocurrency Ripple (XRP), are facing a class action lawsuit filed by an investor, Ryan Coffey, who alleges the company sold it’s cryptocurrency tokens to the public in violation of US securities laws. The filing also claims the company has… Read More

Recent Speech by UK Regulator on Crypto says Approach Needs to be “Not Inhibiting the Benefits, nor Overlooking the Risks”

In a speech delivered by UK FCA Competition Director Mary Starks, the public official addressed the topics of blockchain technology and cryptocurrencies. Regarding blockchain or distributed ledger technology (DLT), Starks was more optimistic. Regarding cryptocurrencies, or “cryptoassets” as she labeled them, she was more circumspect…. Read More

More Fintech Please: FCA Says Mortgage Industry in Need of Innovation

The Financial Conduct Authority (FCA) has published an interim report on UK mortgage market. According to the FCA, Mortgage debt accounts for over 80% of total UK household liabilities – so this is a significant sector of finance that has a profound impact on individuals. While… Read More