Politics, Legal & Regulation

June 21, 2024 @ 12:25 pm By Michael Wong  |  

The Securities and Exchange Commission of Ghana (SEC) and the United Nations Capital Development Fund (UNCDF) unveiled comprehensive guidelines for equity and investment-based crowdfunding. This landmark initiative, crafted in partnership with key stakeholders and with substantial technical support from Lelapa African FinTech Advisory, represents a… Read More

June 21, 2024 @ 8:00 am By JD Alois  |  

Tyler Winklevoss, founder of crypto platform Gemini, stated on X this week that he was supporting former President Donald Trump in his run for the White House. Winklevoss donated $1 million in Bitcoin to the Trump campaign as the “Biden Administration has openly declared war… Read More

June 19, 2024 @ 9:35 pm By Omar Faridi  |  

The Monetary Authority of Singapore (MAS) and the National Bank of Cambodia (NBC) announced the start of the Financial Transparency Corridor (FTC) initiative between Singapore and Cambodia. The FTC commemoration event was “held at Istana, Singapore, and was presided over by Lawrence WONG, Prime Minister… Read More

June 19, 2024 @ 10:51 am By Omar Faridi  |  

Blockchain and smart contract development firm Consensys has shared an important update via social media, noting that Ethereum (ETH) has “survived” the SEC. ConenSys confirmed that they are announcing a major win for Ethereum developers, technology providers, and industry participants. ETHEREUM SURVIVES THE SEC. Today… Read More

June 18, 2024 @ 11:08 pm By Omar Faridi  |  

The ACPR and AMF Joint Unit for Insurance, Banking and Retail Investment has released its 2023 Annual Report. Over the last two years, rising interest rates and inflation have “changed retail investors’ expectations of financial products, leading the authorities to adapt their supervision of commercial… Read More

June 18, 2024 @ 5:40 pm By JD Alois  |  

Boxabl’s former Investor Relations executive, Yanni Tassev, has been charged with fraud by the Securities and Exchange Commission (SEC). The complaint states that Tassev was hired in July 2021 and became VP of Investor Relations in November 2022. Boxabl is an early-stage firm in the… Read More

June 17, 2024 @ 2:50 pm By JD Alois  |  

The head of the Crypto Assets and Cyber Unit within the SEC’s Division of Enforcement has exited the agency. David Hirsch posted on LinkedIn earlier today (June 17, 2024) that last Friday was his last day at the SEC after 9 years at the securities… Read More

June 17, 2024 @ 2:06 pm By JD Alois  |  

Last month, the Tokenization Report  Act of 2024 (HR 8464) was introduced into Congress. The House legislation is sponsored by Representative William Timmons, a Republican from South Carolina. The bill, as it stands today, compels multiple federal authorities to review the potential of taking traditional… Read More

June 15, 2024 @ 7:11 pm By Omar Faridi  |  

The Central Bank of Kuwait (CBK) has added 2 new companies to e-payment services providers, e-Money services providers and e-payment systems operators register. Continuing its efforts to encourage innovation in financial services, enhance electronic payment services and regulate these activities, ensure providing high-quality, efficient and… Read More

June 15, 2024 @ 3:13 pm By Omar Faridi  |  

Over 25% of the 474 investigations carried out by the MFSA in 2023, were related to persons or entities which were suspected of undertaking licensable activities without having obtained the necessary authorizations, or scams. These investigations include suspicious activity or dubious schemes which “appeared to… Read More

June 14, 2024 @ 7:33 am By JD Alois  |  

The Securities and Exchange Commission (SEC) reports that Terraform Labs PTE, Ltd. and founder Do Kwon will pay a $4.5 billion penalty as they have been found guilty of a “years-long fraud.”  It was previously reported that the SEC was seeking a $5.3 billion settlement…. Read More

June 13, 2024 @ 5:00 pm By JD Alois  |  

Earlier today, the White House announced that Christy Goldsmith Romero has been appointed to lead the Federal Deposit Insurance Corporation (FDIC). It was reported earlier this week that President Joe Biden would select Goldsmith Romero to take over leadership of the financial regulator following several… Read More

June 12, 2024 @ 10:50 pm By Omar Faridi  |  

Crypto.com, which claims to be “trusted” by more than 100 million customers worldwide and the firm focused on regulatory compliance, security and privacy, announced that it has received approval as a Virtual Asset Service Provider (VASP) from the Central Bank of Ireland. This approval follows… Read More

June 12, 2024 @ 10:46 pm By Omar Faridi  |  

The Financial Services Regulatory Authority (FSRA) of ADGM and the Bermuda Monetary Authority (BMA) have recently announced the signing of a joint Digital Assets Memorandum of Understanding (MoU). The MoU creates a framework “enabling the collaboration between the BMA and the FSRA to support the… Read More

June 12, 2024 @ 12:40 pm By JD Alois  |  

While it should be obvious to everyone, high individual taxes hinder investment and innovation and diminish wealth creation – which can create benefits for all. The flipside to high taxes is a central authority that provides more social services, or entitlements, to the population while… Read More

June 11, 2024 @ 10:13 am By JD Alois  |  

Martin Gruenberg, the FDIC Chairman, announced that he was resigning from the agency last month. The news was not unexpected, as egregious reports of sexual harassment and a toxic work environment have challenged the FDIC under his leadership for some time now. The final straw… Read More

June 10, 2024 @ 11:23 pm By Omar Faridi  |  

The Government in Australia reportedly introduced new consumer protection legislation for Buy Now Pay Later (BNPL) that will see BNPL operators “regulated as consumer credit.” Most BNPL products are “not currently covered by the National Consumer Credit Act (Credit Act) meaning these providers are not… Read More

June 10, 2024 @ 7:45 pm By Omar Faridi  |  

The FDIC has recently released a consent order made against a Tennessee banking institution as part of its publication of January 2024 Enforcement Decisions and Orders. The FDIC said that within 60 days of the effective date of the consent order, the banking institution needs… Read More

June 10, 2024 @ 4:02 pm By Omar Faridi  |  

The Consumer Financial Protection Bureau (CFPB) finalized a rule outlining the qualifications to become a recognized industry standard setting body, which can issue standards that companies can use “to help them comply with the CFPB’s upcoming Personal Financial Data Rights Rule.” The rule identifies the… Read More

June 10, 2024 @ 10:13 am By JD Alois  |  

Last week, Chris Hemsley announced his exit as Managing Director of the Payment Systems Regulator (PSR). Replacing Hemsley is Interim Managing Director David Geale, who takes over today (June 10th). The PSR said that Hemsley was leaving the agency to become a director with Fingleton,… Read More