Politics, Legal & Regulation

April 18, 2024 @ 8:20 am By Omar Faridi  |  

With the UK rethinking its approach to AI legislation, Scott Dawson, Head of Strategic Partnerships at DECTA, an end-to-end payments solutions provider, has shared insights focused on examining what a divergence in the UK and the EU’s legislative approach in AI could mean. Scott Dawson,… Read More

April 17, 2024 @ 1:40 pm By JD Alois  |  

Recently, CI reported on the requirement to file a Form C-AR (annual report) for firms that raised money using the Reg CF securities exemption. While Reg CF is a notice filing there are still legal requirements to remain compliant on an ongoing basis for firms… Read More

April 17, 2024 @ 11:33 am By JD Alois  |  

The Canadian Securities Administrators (CSA), the entity that represents all of Canada’s provincial and territorial securities regulators, has posted a note on “crypto asset trading platforms” (CTPs) and the previously adopted “interim approach to value-referenced crypto assets (VRCAs).” In common terms, a VRCA is a… Read More

April 17, 2024 @ 8:08 am By JD Alois  |  

Senators Cynthia Lummis and Kirsten Gillibrand are taking another swing at regulating digital assets – specifically with stablecoin legislation. The bipartisan bill was revealed today and it attempts to provide a federal path to regulated privately issued stablecoins in a market that is largely overseen… Read More

April 15, 2024 @ 7:52 pm By Omar Faridi  |  

Following the launch of the Anti-Scam Consumer Protection Charter last year, the Hong Kong Monetary Authority (HKMA) announced (10 April), in collaboration with the Hong Kong Association of Banks (HKAB), the launch of the Anti-Scam Consumer Protection Charter 2.0. With the participation of more institutions… Read More

April 15, 2024 @ 10:38 am By Omar Faridi  |  

Damian Williams, the United States Attorney for the Southern District of New York, announced that Shakeeb Ahmed was sentenced recently to three years in prison by U.S. District Judge Victor Marrero for “hacking two separate decentralized cryptocurrency exchanges and stealing cryptocurrency worth over $12 million…. Read More

April 13, 2024 @ 8:14 pm By Omar Faridi  |  

The CMA has outlined 3 key risks to effective competition on AI Foundation Models and has set out plans for further action in the market. The move from the Competition and Markets Authority (CMA) follows its initial report on AI Foundation Models (FMs) last year…. Read More

April 13, 2024 @ 2:30 pm By Michael Wong  |  

The UK’s Financial Conduct Authority (FCA) has called for the establishment of a new industry body to enhance the functioning of Britain’s “highly concentrated” consumer credit ratings market, which it says is currently not serving consumers well, Reuters has reported. The consumer credit ratings market,… Read More

April 12, 2024 @ 12:31 pm By JD Alois  |  

The Securities and Exchange Commission, Small Business Capital Formation Advisory Committee (SBCFAC), has scheduled its next meeting for May 6, 2024. As of today, the agenda has not been released. At the last meeting in February, the SBCFAC discussed multiple topics of interest, including a… Read More

April 12, 2024 @ 12:20 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has penalized five individual investment advisors for allegations of violating marketing rules. According to the SEC, each entity has settled the charges and agreed to pay $200,000 in combined penalties. The five firms are as follows: GeaSphere LLC Bradesco… Read More

April 11, 2024 @ 9:51 am By Omar Faridi  |  

Hayden Adams, founder of Uniswap, confirmed on April 10, 2024 that Uniswap Labs received a Wells notice from the US Securities and Exchange Commission (SEC). Hayden says he is not surprised but just “annoyed, disappointed, and ready to fight.” Today @Uniswap Labs received a Wells… Read More

April 10, 2024 @ 12:07 pm By JD Alois  |  

The Securities and Exchange Commission’s (SEC), Office of the Advocate for Small Business Capital Formation has scheduled the 43rd Annual Government-Business Forum on Small Business Capital Formation. This gathering will occur with three virtual sessions April 16-18 from 1-2:30 p.m. ET. Several years ago, these… Read More

April 10, 2024 @ 8:44 am By JD Alois  |  

Yesterday, Deputy Secretary of the Treasury Wally Adeyemo testified before the Senate Banking Committee. In prepared testimony, Adeyemo called out digital assets—or crypto—and stated that bad actors are using these assets for nefarious activities. Adeymo said: “As we take steps to cut terrorist groups and… Read More

April 9, 2024 @ 10:22 pm By Omar Faridi  |  

Crypto.com, which claims to be “trusted” by more than 80 million customers worldwide and the industry leader in regulatory compliance, security and privacy, announced that its Dubai entity, CRO DAX Middle East FZE, has “received full operational approval from Dubai’s Virtual Assets Regulatory Authority (VARA)… Read More

April 8, 2024 @ 8:09 am By Omar Faridi  |  

Ripple CEO Brad Garlinghouse recently stated that he thinks the combined value of the crypto-assets market may double this year. As reported by CNBC, the Ripple Chief Executive has cited the approval of the US spot bitcoin (BTC) exchange-traded fund (ETFs) as well as the… Read More

April 6, 2024 @ 12:12 pm By Michael Wong  |  

Following a nine-day trial, a jury in the United States District Court for the Southern District of New York has found Terraform Labs PTE Ltd. and its former CEO, Do Kwon, guilty of defrauding investors in crypto asset securities. The verdict comes after the Court’s… Read More

April 4, 2024 @ 11:17 am By JD Alois  |  

The Consumer Financial Protection Bureau (CFPB) says the increase in financial transactions in the gaming world is putting users’ information at risk. The agency claims that gaming platforms are not benefitting from the protections of federal law. The CFPB states that it has received consumer… Read More

April 4, 2024 @ 10:09 am By Omar Faridi  |  

Wyoming-based digital asset bank Custodia will continue its efforts to obtain access to a Federal Reserve master account. Wyoming is a digital asset-friendly jurisdiction. A Federal Reserve master account is an account in which a Reserve Bank allows banks or credit unions to use the… Read More

April 3, 2024 @ 6:18 pm By JD Alois  |  

The House Financial Services Committee has scheduled a hearing on the Securities and Exchange Commission’s (SEC) recent rule change that requires public firms to disclose climate impact. The new ESG-type rules have been controversial at best, with some lambasting the Commission as becoming the Securities… Read More

April 3, 2024 @ 5:00 pm By JD Alois  |  

While everyone understands that securities will inevitably become digital, policymakers have been slow to provide an ecosystem to support the nuances intrinsic to the transition from analog. Eventually, digital securities will become the dominant sector of digital assets, and clear-cut rules are needed. Today, the… Read More