Politics, Legal & Regulation

France: Are ICOs a New Method of Finance? French Regulator AMF Publishes Report on Crypto

The Autorité des Marches Financiers (AMF) the regulator that has oversight of securities in France, has published a report on initial coin offerings. Entitled ICO Françaises: Un Nouveau Mode de Financement? – the document is a follow up to a year ago launch to the… Read More

CFTC Enforcement Director Addresses Crypto Fraud in Speech

The Commodities Futures Trading Commission (CFTC) Enforcement Director James M. McDonald delivered a speech yesterday addressing current trends regarding enforcement actions and, of course, crypto and virtual currencies were on the list. Speaking at the NYU School of Law, McDonald said the Commission is adapting… Read More

Malaysian MP: Sector Regulations Needed Before Government Approves “World’s First Crypto-Politic ICO”

Fahmi Fadzil, a Malaysian MP and the Communications Director for the Malaysian centre-left coalition party PKR, has urged the government of Malaysia to establish proper regulation of cryptocurrencies before it approves “Harapan Coin- the world’s first crypto-politic ICO,”  The Star Online reports. Fahmi reportedly told reporters… Read More

Lame Duck Congress: Still Time for JOBS Act 3.0

After the first of the year, control of the House of Representatives will move over to the Democrat party following mid-term elections. While the Senate will remain in Republican control, the split Congress means agenda items will frequently be at odds. But in the final… Read More

Pro-Crypto President of Marshall Islands Survives No-Confidence Vote

By a margin of one vote, President Hilda Heine of the Marshall Islands retained her job on Monday following a no-confidence vote initiated by the opposition, Nikkei Asian Review reports. A tie of 16 for and 16 against deprived the opposition of the 17 votes… Read More

How (Not) to Market Your Regulation A+ Mini-IPO Offering

SEC Regulation A (commonly referred to as Regulation A+) was implemented by the SEC in 2015 pursuant to major Congressional legislation, the Jumpstart Our Business Startups Act of 2012 (the JOBS Act). It allows companies to raise up to $50 million in a 12 month… Read More

Isle of Man Raises Standards for Crypto Businesses Registered There

After “throw(ing) its arms wide open” to the burgeoning crypto sector last year, the Isle of Man is now imposing stricter requirements on “convertible virtual currency” (CVC) businesses registered there. Namely, crypto businesses on the island will now be obliged to have two local “resident directors”… Read More

Singapore: MAS Looks to Speed Up the Regulation Process with a Fintech “Sandbox Express”

The Monetary Authority of Singapore (MAS) has proposed an expedited process for aspiring Fintechs participating in their regulatory Sandbox. First launched in 2016, the Singapore Fintech Sandbox seeks to foster a mutually beneficial relationship between innovator and regulator.  In an industry with profound compliance requirements, the regulator is exposed to entrepreneurs seeking to… Read More

Fake Halal Crypto Ponzi Falls Apart in India

A fake halal cryptocurrency pyramid scheme targeting Muslim investors in India has fallen apart in the Bitcoin bear market, in part due to scrutiny from regulators, Deccan Chronicle (DC) reports. Father-and-son team Syed Fareed and Syed Afaq Ahmed reportedly tapped a network of “ulemas” (Muslim… Read More

Michigan Will Not Allow Crypto Campaign Contributions

Because cryptocurrencies are volatile, are not accepted as legal tender anywhere in the world, are not handled by banks and can be transmitted anonymously, without new legislation, the State of Michigan will not be allowing candidates there to accept cryptocurrency campaign donations. These points were… Read More

Citing Low Taxes & Government Support, UK Says 100s of Jobs Created by Overseas Investment Including Fintech

The UK Department for International Trade (DIT) is out with a note this morning saying £109 million of foreign investment will create 359 new jobs as money goes into the high tech sector, including the important Fintech industry. DIT states that 11 different investments will… Read More

Thailand to Approve First ICO Portal this Month, Others to Follow

The Thailand Securities and Exchange Commission (SEC) is expected to approve the first initial coin offering (ICO) portal at some point this month, according to a report in the Bangkok Post. The approval follows a royal decree from last May that stipulated that the Thai… Read More

Swedish Man Accused of Sending Bomb to London Cryptopay Exchange Jailed for 6 Years

A Swedish man has been sentenced to 6 years in prison for sending a “viable” mail bomb to the Lond0n-based cryptocurrency exchange Cryptopay after an exchange employee refused to change the man’s password. Jermu Michael Salonen, 43, received an additional six months detention for mailing… Read More

Singapore Exchange & Monetary Authority of Singapore Move Forward on Tokenized Assets Across Different Blockchains

Singapore Exchange (SGX) and the Monetary Authority of Singapore (MAS) have announced a successful blockchain pilot of “Payment (DvP) capabilities for the settlement of tokenized assets across different blockchain platforms.” The two entities have a goal of simplifying back-office operations, post-trade processes while shortening trade settlement… Read More

Four More ICOs Sanctioned in Colorado

Colorado Securities Commissioner Gerald Rome has ordered four more issuers of initial coin offerings to stop selling unregistered securities in the Western American state. The latest round of cease and desist orders brings the total number of ICOs now sanctioned by Colorado to 12. Bitcoin… Read More

Marshall Islands President Hilda Heine Points Finger at China as Opponents Attempt to Oust Her Along with Her Sovereign Crypto Plan

Dr. Hilda Cathy Heine, President of the Marshall Islands, is taking some heat from her plan to convert the Marshall Island’s currency from the US dollar to their own cryptocurrency. The Blockchain based “SOV” currency was approved and signed into law back in February. The… Read More

Germany: Blockchain Industry Representatives Meet with Bundestag to Work on Common Sense Regulation

It has been a few choppy weeks in Germany for the blockchain / digital asset industry. Last month, a German court ruled that Bitcoin was not a financial instrument. The case centered around an enterprising teenager who launched a Bitcoin exchange five years ago. He was… Read More

Congressman Patrick McHenry Seeks Ranking Republican Spot on House Financial Services Committee

Chief Deputy Whip Patrick McHenry, an ardent supporter of small business and Fintech innovation, has announced his intent to become the ranking Republican on the House Financial Services Committee. Following the loss of the US House of Representatives to the Democrats, all Committee Chairs migrate to… Read More

Attorney on SEC Crypto Exchange Enforcement Action: “Settlement May Be Only the First”

Today, the first enforcement action was taken by the Securities and Exchange Commission (SEC) against a cryptocurrency exchange; EtherDelta. Prior to this, the SEC had only targeted issuers and promoters of crypto – largely for fraud and selling unregistered securities.  While the action against EtherData is… Read More

Venezuela Promises Stability or Returns on El Petro Cryptocurrency to Holders of New All-Seeing Digital IDs

The Venezuelan government has initiated a savings plan based on the country’s controversial new cryptocurrency, El Petro, and is somehow promising that investors will see their money appreciate or at least stay stable, Telesur reports. The scheme, however, will require interested parties to obtain one… Read More

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