Politics, Legal & Regulation

December 5, 2023 @ 4:55 pm By JD Alois  |  

Congressman Patrick McHenry, a Republican from North Carolina and current Chairman of the House Financial Services Committee, has announced his intent not to seek re-election to the seat in Congress he has held for 20 years. In a statement posted on the Congressman’s website, he… Read More

December 4, 2023 @ 1:26 pm By JD Alois  |  

The SEC Small Business Capital Formation Advisory Committee (SBCFAC) returned to meet this past week with the definition of an Accredited Investor at the top of the list for discussion. The SBCFAC provides guidance to the Commission on issues that impact smaller firms, which frequently… Read More

December 4, 2023 @ 8:24 am By Omar Faridi  |  

The UK’s Financial Conduct Authority (FCA) announced that it is setting out forbearance measures for investment company cost disclosure. The FCA says it has now set out temporary measures “to give investment companies greater ability to explain their costs and charges to help consumers make… Read More

December 4, 2023 @ 7:50 am By Omar Faridi  |  

Crypto.com, which claims to be “trusted” by more than 80 million customers worldwide, announced that it has been authorized as an Electronic Money Institution (EMI) by the UK’s Financial Conduct Authority (FCA). This approval follows Crypto.com’s registration “as a cryptoasset business with the FCA in… Read More

December 3, 2023 @ 3:00 pm By Michael Wong  |  

U.S. Republican presidential candidate Vivek Ramaswamy has voiced strong opposition to Central Bank Digital Currencies (CBDCs), emphasizing the risks they pose to individual freedoms and privacy. In a recent social media post, Ramaswamy firmly rejected the idea of CBDCs, suggesting they pave the way for… Read More

December 2, 2023 @ 3:52 pm By Omar Faridi  |  

The CME report highlights some interesting facts about “trader positioning,” according to an update shared by NYDIG Research. Updates to Bitcoin/crypto ETFs in the application process “indicate the final decision will likely come down to the final few days,” NYDIG noted. And hash rate surges… Read More

December 1, 2023 @ 5:18 pm By JD Alois  |  

The House Financial Services Committee has announced a “field hearing” scheduled to take place in Little Rock, Arkansas. The hearing is entitled “Connecting Communities: Building Innovation Ecosystems Across America,” led by the Digital Assets, Financial Technology and Inclusion Subcommittee. The hearing will commence at 10… Read More

December 1, 2023 @ 10:02 am By JD Alois  |  

Yesterday, the UK government announced a “world’s first” agreement with big tech to help battle online fraud, the most common type of crime in the country. The UK government is partnering with the likes of Amazon, eBay, Facebook, Google, Instagram, LinkedIn, Match Group, Microsoft, Snapchat,… Read More

November 30, 2023 @ 4:51 pm By Omar Faridi  |  

Paxos, the regulated blockchain & tokenization infrastructure platform, secured the in-principle approvals (IPAs) of the Financial Services Regulatory Authority (FSRA) in the Abu Dhabi Global Market (ADGM) for “the necessary Financial Services Permissions to issue US dollar and other currency-backed stablecoins, as well as to… Read More

November 30, 2023 @ 8:47 am By Omar Faridi  |  

The UK’s Financial Conduct Authority (FCA) has announced proposals to require personal investment firms to set aside capital so that they can “cover compensation costs and ensuring the polluter pays when consumers are harmed.” The proposals from the FCA would “require personal investment firms –… Read More

November 29, 2023 @ 6:48 pm By Omar Faridi  |  

The US Securities and Exchange Commission (SEC) is requesting the public for additional feedback regarding the proposed spot Bitcoin (BTC) exchange-traded-funds (ETFs) from Franklin Templeton and Hashdex. The SEC stated on Tuesday (November 28, 2023) that it is seeking more feedback from the public regarding… Read More

November 29, 2023 @ 4:24 pm By Omar Faridi  |  

The Philippines Securities and Exchange Commission (SEC) has reportedly issued an advisory against Binance for allegedly carrying out unauthorized business operations. This latest announcement from the Philippines comes shortly after the nation’s SEC stated that it would begin calling out unlicensed exchanges as part of… Read More

November 29, 2023 @ 11:41 am By Omar Faridi  |  

Football star and legend Cristiano Ronaldo is reportedly being sued for promoting Binance and its line of crypto-focused products. Superstar Cristiano Ronaldo is now dealing with a lawsuit that has been filed in a Florida District Court on November 27, 2023. The suit alleges that… Read More

November 29, 2023 @ 11:34 am By JD Alois  |  

Mixers, or platforms that seek to cover the tracks of crypto movement, are making news again as the US Department of Treasury, Office of Foreign Assets Control (OFAC), has sanctioned Sinbad.io (Sinbad) for helping North Korea (the Democratic People’s Republic of Korea (DPRK)) in its… Read More

November 29, 2023 @ 10:25 am By JD Alois  |  

HM Revenues and Customs (HMRC) has posted guidance on how to pay taxes on the income or gains created by crypto investments. HMRC states: “You must pay the full amount you owe within 30 days of making your disclosure. If you do not, HMRC will… Read More

November 28, 2023 @ 4:14 pm By JD Alois  |  

The Subcommittee on Digital Assets, Financial Technology, and Inclusion, part of the House Financial Services Committee, has announced a hearing addressing innovation in financial services. The hearing is entitled: “Fostering Financial Innovation: How Agencies Can Leverage Technology to Shape the Future of Financial Services” The hearing… Read More

November 28, 2023 @ 12:07 pm By JD Alois  |  

FINRA (Financial Industry Regulatory Authority) has launched a new section of its website to cover its work on crypto or digital assets. FINRA is the entity that oversees all of the broker-dealers in the US. As there are over  624,000 brokers across the country, the… Read More

November 28, 2023 @ 9:40 am By JD Alois  |  

Tokenization or turning an asset into a “digital asset” or digital security makes a lot of sense. By leveraging technology, an asset can be managed more effectively, comply with regulations and be programmed to automatically perform certain services. Today, most investible assets are heavy on… Read More

November 27, 2023 @ 12:23 pm By JD Alois  |  

Singapore is well-recognized as the top Fintech hub in Asia. Receiving solid support from the government of Singapore, the small country has hosted an annual Fintech event and according to a public statement, participation in the annual Singapore Fintech Festival topped 66,000 participants this year,… Read More

November 27, 2023 @ 12:13 pm By JD Alois  |  

The Financial Crimes Enforcement Network (FinCEN), part of the US Department of Treasury, has partnered with 12 other global regulatory agencies to form the Counter Terrorist Financing Taskforce – Israel (CTFTI). The members include, Australia, Canada, Estonia, France, Germany, Israel, Liechtenstein, Luxembourg, the Netherlands, New… Read More