August 17, 2018 @ 11:55 am By JD Alois  |  

The UK Competition and Markets Authority (CMA), in collaboration with the Financial Conduct Authority (FCA), published a report this week that chastised banks for their poor service and lack of transparency. As part of an ongoing initiative to improve financial services for both consumers and… Read More

August 17, 2018 @ 10:01 am By JD Alois  |  

Unikrn, a blockchain based gaming platform that is associated with some big name backers like Mark Cuban, has been hit with a lawsuit filed in the Superior Court of Washington for King County this week. The allegation that the Unikrn initial coin offering (ICO) constituted… Read More

August 17, 2018 @ 7:57 am By JD Alois  |  

The Competition and Markets Authority (CMA), in conjunction with the Financial Conduct Authority (FCA), have demanded that traditional banks improve their services. The admonition comes following an independent survey of both personal and small business accounts that indicates banks are falling short when it comes… Read More

August 17, 2018 @ 1:34 am By Cali Haan  |  

Playboy Enterprises, the company that publishes the famous nude magazine, is suing a Vancouver-based crypto tech and investment company for fraud and breach of contract, The Los Angeles Times reports. Playboy claims that Global Blockchain Technologies (GBT) has failed to follow through on an agreement to,… Read More

August 16, 2018 @ 6:13 pm By Dror Futter  |  

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

August 15, 2018 @ 6:05 pm By Cali Haan  |  

The Venezuelan government plans to issue a new paper currency called ‘the sovereign’ next Monday, August 20th, and the new currency will be pegged to that nation’s new cryptocurrency, ‘el petro.’ The latest news comes on the heels of a story CI reported yesterday about… Read More

August 15, 2018 @ 5:27 pm By JD Alois  |  

Michael Terpin, an investor, crypto advisor and founder of Marketwire, has thrown down the gauntlet with AT&T over a massive cryptocurrency threat. In a tweet, Terpin states; “Somebody needed to sue AT&T for fraud and gross negligence in letting criminals SIM swap. I just did.”… Read More

August 14, 2018 @ 10:38 pm By Cali Haan  |  

A motion by plaintiffs in a class action suit against Ripple Labs to keep the case in California courts was denied this week by a judge. The case will now move to federal court. Lawyers for class action plaintiff Ryan Coffey filed the suit against… Read More

August 14, 2018 @ 6:23 pm By JD Alois  |  

Sagewise, a legal dispute layer for blockchain based smart contracts, has created a directory of all existing and pending legislation that may impact smart contracts and blockchain around the United States. Even if you are engaged in the distributed ledger tech-sector, you will be surprised… Read More

August 14, 2018 @ 1:55 pm By JD Alois  |  

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

August 14, 2018 @ 10:03 am By JD Alois  |  

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

August 14, 2018 @ 7:47 am By Chris Hancock  |  

The Financial Conduct Authority will Update Rules for Loan Based Crowdfunding. Crowd2Fund CEO Chris Hancock Shares His Perspective. The growth and success of P2P lending, and its positive effect on the UK economy, cannot be disputed. Initially starting out as curiosity during the depths of… Read More

August 13, 2018 @ 6:52 pm By JD Alois  |  

Last week, the Securities and Exchange Commission issued an investor alert on Self Directed IRAs. As one would expect, the individual investor manages these retirement accounts without the assistance of an investment advisor. A self-directed IRA is held by a custodian that allows investment in a broader… Read More

August 13, 2018 @ 3:57 pm By Cali Haan  |  

Citing “negative consequences,” “high risks,” and a lack of “government supervision,” the Saudi Standing Committee for Awareness on Dealing in Unauthorized Securities Activities in FOREX Markets has officially declared, “Unauthorized virtual currencies…illegal inside the Kingdom of Saudi Arabia.” The announcement came August 12th in the… Read More

August 13, 2018 @ 11:00 am By Cali Haan  |  

Onsite inspections of 16 licensed cryptocurrency exchanges and 7 with licenses pending in Japan has revealed generally loose business practices and controls, according to a report released last Friday by the Japanese Financial Services Agency (FSA). The inspections were conducted by the FSA in cooperation with… Read More

August 13, 2018 @ 9:53 am By JD Alois  |  

Aarni Otava Saarimaa, a 22 year old crypto investor based in Finland, used to be crypto rich. Today, perhaps he is less so after following afoul of a scam apparently hatched in Thailand. In a sordid saga shared by the Bangkok Post, a crypto investor… Read More

August 13, 2018 @ 1:05 am By Cali Haan  |  

A new report from Togo-based Ecobank says that, like regulators elsewhere, African regulators are confused about technical, political, and economic ramifications of cryptocurrencies and are largely taking a “wait-and-see” approach to regulating crypto sectors and activity there. The report, “Cryptocurrency Regulation in Africa,” published August… Read More

August 12, 2018 @ 9:50 pm By JD Alois  |  

The Bureau of Consumer Financial Protection (previously known as the CFPB) has reported that a federal district court in the Western District of Missouri has entered an Order effectuating a settlement between the Bureau  and Richard Moseley, Sr., Richard Moseley, Jr., and 20 interrelated corporate… Read More

August 10, 2018 @ 6:55 pm By JD Alois  |  

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

August 9, 2018 @ 12:46 pm By Cali Haan  |  

Russian independent news publication Interfax has reported that the owner of a small newspaper in Tatarstan, a state in the Russian southwest, has been fined for carrying a cryptocurrency mining and investment advertisement. The Eleventh Arbitration Court of Appeal confirmed a prior decision to fine Unity Nizhnekamsk… Read More