Politics, Legal & Regulation

Policy and regulations impacting innovations in Finance.

Former President Trump Advisor Jason Greenblatt Joins OurCrowd as a Partner, Aims to Build Ties in Middle East Region

Following a well-received presentation at the OurCrowd Global Investor Summit held earlier this month, Jason Greenblatt, a former advisor to President Donald Trump, is joining the crowdfunding platform as a Partner building ties in the Middle East region. Greenblatt was previously an Assistant to the… Read More

Michael Terpin’s SIM Swap Lawsuit Against AT&T Moves Forward

According to a release, Michael Terpin’s lawsuit targeting mobile service provider AT&T will move forward. The case involves a SIM Swap fraud that Terpin believes AT&T could have easily halted. This week, Judge Otis Wright II ruled that plaintiff Michael Terpin can proceed with statutory,… Read More

Regtech: Taiwan’s CoolBitX, a Blockchain Security Firm, Secures $16.75 Million in Funding via Round Led By SBI Holdings

Asia-based CoolBitX, a leading blockchain or distributed ledger tech (DLT) security firm, has acquired $16.75 million in capital through a Series B investment round from several large investors. CoolBitX’s funding round was led by Japan-based financial services company SBI Holdings. Monex Group, South Korean crypto-asset… Read More

Former Chainalysis Chief Technical Counsel Joins FinCEN as Deputy Director

Michael Mosier has joined the Financial Crimes Enforcement Network (FinCEN) as its new Deputy Director and Digital Innovation Officer. FinCEN is part of the US Department of Treasury. Mosier will be FinCEN’s first Digital Innovation Officer helping the agency to adapt to the fast-changing world… Read More

Crypto Powwow: FinCEN and Others Meet to Discuss Virtual Assets

Last week, 50 senior officials convened in Paris to discuss “global issues surrounding virtual assets.” Participants included FinCEN, part of the US Department of Treasury, as well as the Financial Intelligence Unit Germany, France’s Tracfin, and other FATF countries. Virtual asset experts from the Financial… Read More

G20 Issues Joint Statement, Questions Big Tech in Fintech, Urges Implementation of FATF Rules for Virtual Assets

Yesterday, the G20 issued a joint communique outlining shared goals for the group of the larget 20 economies in the world. The actual event is being hosted by Saudi Arabia with meetings ongoing. The document, embedded below, recognized the value of “digitalization of the economy”… Read More

Fake Regulators and Bogus Offerings: SEC Updates List Naming Fraudulent Websites

The Securities and Exchange Commission (SEC) has updated its “PAUSE” list or Public Alert: Unregistered Soliciting Entities. The list highlights bogus offering sites and fictitious regulators. In the internet era, both are rampant as anyone, anywhere can cobble together a pretty slick looking website making… Read More

CBDC: Bank of Japan and Nation’s Financial Service Agency Held Talks to Determine Whether to Issue Central Bank Digital Currency

Central bank heads and finance ministers recently held discussions regarding crypto-asset regulations at the G-20 summit.  Japanese officials working at the Bank of Japan (BOJ), the nation’s Ministry of Finance (MOF), and Financial Services Agency (FSA) have held talks in order to determine whether the… Read More

CFTC Tech Committee to Discuss Cryptocurrency, Stablecoins and More

The Commodity Futures Trading Commission will be holding a public meeting this week that will address several Fintech focused issues. The Technology Advisory Committee (TAC) meeting will take place on February 26, 2020, at the CFTC’s headquarters in Washington, D.C. The event, scheduled to start… Read More

Black Eye: Estonia Hit by Shuttered P2P Investment Platforms, Impacted Investors Look for Answers

Last month, Crowdfund Insider reported on two debt-based investment platforms based in Estonia closing their doors leaving investors with many questions and apparently no money. Envestio tweeted that the problem had to do with a “well-planned set of actions aimed to cause significant financial and… Read More

Sold! Last Week the US Marshals Auctioned Off Over 4000 Bitcoin

Last week, the US Marshals Service auctioned off 4,041.58424932 Bitcoin. The world’s most popular crypto arrived in the hands of the federal government due to a bevy of legal actions due to various federal criminal, civil and administrative cases. The auction was a cash-only affair… Read More

Morocco Pursues Crowdfunding Legislation: Report

Morocco has adopted a bill to create a legal framework for crowdfunding according to a report on Media24. The legislation is designed to: “… contribute to the mobilization of new sources of funding for the benefit of very small, small and medium-sized enterprises and young people… Read More

New Jersey Lawmaker Proposes New Crypto Bill Requiring Digital Asset Firms to Acquire Operational License

A New Jersey lawmaker has proposed a new bill that, if approved and made part of the state’s law, could require digital currency companies to acquire an operational license before offering their products and services. The new bill, called the “Digital Asset and Blockchain Technology… Read More

London-based Meniga, a White-Label Digital Banking Solution Developer, Registers as Account Service Provider with the FCA

London-based Meniga, an established white-label digital banking solution provider, recently confirmed that it had managed to register as an Account Information Service Provider with the UK’s financial regulator, the Financial Conduct Authority (FCA). Meniga has considerable experience working in the Nordic region with non-traditional financial… Read More

CBDC: Sweden Begins Testing the Electronic Version of its National Currency, the E-Krona

Sweden has reportedly begun piloting an electronic version of its national currency, the krona. The European nation’s government says that the e-krona is a step closer to its official launch as a central bank digital currency (CBDC). The testing of the country’s CBDC will go… Read More

Telegram ICO: A Two-Phase Offering Does Not Inoculate an ICO from Federal Securities Law

As we have previously reported, Telegram is engaged in a legal battle with the Securities and Exchange Commission (SEC) in what may be the biggest SEC cryptocurrency case yet.  One the one side, you have Telegram that raised over a billion dollars from a digital… Read More

OurCrowd Plans Retail Funds with Private Securities in Partnership with Stifel

In October 2019, OurCrowd, one of the leading securities crowdfunding platforms in the world, announced a new partnership with Stifel Financial Corp. (NYSE: SF). Simultaneously, it was announced that Stifel was taking a minority stake in the global investment platform. In its brief history, OurCrowd… Read More

Israeli Banks Must Not Deny Financial Services to Firms Dealing in Crypto-Asssets, Says Israeli Attorney General

Israeli banks and other financial institutions in the country must not deny banking services to companies dealing in crypto-assets, Avichai Mandelblit, Israel’s attorney general, recently stated. Instead of denying banking services to crypto and blockchain startups, traditional financial service providers must carefully look into each… Read More

ICO Issuer Enigma MPC Settles with the SEC, Will Return Money to Investors,

Enigma MPC, formerly known as Newton Security Labs, has settled charges leveled by the Enforcement Division of the Securities and Exchange Commission regarding an initial coin offering (ICO). The SEC had accused Enigma of conducting an unregistered securities offering. Enigma raised $45 million by selling… Read More

Perspective: Don’t Blame the SEC, the Definition of “Accredited Investor” Was Never the Problem

Recently, the Securities and Exchange Commission (SEC) proposed changes to the definition of “accredited investor.” Many issuers and intermediaries hoped the SEC would expand the definition of “accredited investor,” to include qualitative conditions, such as education, or by lowering quantitative thresholds, such as income and… Read More

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