Politics, Legal & Regulation

April 20, 2023 @ 11:26 am By JD Alois  |  

The European Parliament has adopted MiCA or Markets in Crypto-Assets regulation. This legislative development means the European digital asset (crypto-asset) will now have a bespoke regulatory framework, allowing all EU member states to provide services under a harmonized environment. After several delays, MiCA was approved… Read More

April 19, 2023 @ 9:55 am By JD Alois  |  

While the Securities and Exchange Commission (SEC) has aggressively pursued enforcement actions against digital asset platforms and issuers, the industry has complained the rules are unclear, making compliance a challenge. At the same time, the SEC has asked crypto trading platforms to come in and… Read More

April 19, 2023 @ 8:46 am By Omar Faridi  |  

Coinbase (NASDAQ:COIN) is reportedly getting ready for an anticipated “years-long” court case with the US Securities and Exchange Commission (SEC). This, according to a report from CNBC, which is citing comments from Coinbase CEO Brian Armstrong. It appears that this update has come after the… Read More

April 18, 2023 @ 11:15 pm By JD Alois  |  

Tomorrow (April 19, 2023), the Subcommittee on Capital Markets will hold a hearing entitled A Roadmap for Growth: Reforms to Encourage Capital Formation and Investment Opportunities for All Americans. The hearing memo notes that there are two ways to access capital – a public offering… Read More

April 18, 2023 @ 4:37 pm By JD Alois  |  

Robo-advisor Betterment has been hit by charges from the Securities and Exchange Commission regarding material misstatements and omissions pertaining to a tax loss harvesting service (TLH). Betterment has settled the charges with the SEC without admitting or denying the claims, paying a $9 million penalty…. Read More

April 18, 2023 @ 4:29 pm By JD Alois  |  

SEC Chair Gary Gensler spent most of the day on Capitol Hill testifying in front of the House Financial Services Committee. As the Committee is currently controlled by the Republicans – which tend to be more innovation-friendly and more supportive of small businesses, some of… Read More

April 18, 2023 @ 12:00 pm By Barry James  |  

As the USA House Subcommittee on Digital Assets, Fintech, and Inclusion, hold a hearing on stablecoins Wednesday, April 19, 2023, in the USA, in the UK, and around the world, attempts to shoe-horn digital money from central and private banks (CBDCs and Stablecoins) into existing… Read More

April 18, 2023 @ 9:37 am By JD Alois  |  

The Joint Regulatory Oversight Committee (JROC) has posted the recommendations for the next stage of Open Banking in the United Kingdom. JROC is made up of HM Treasury, the Competition and Markets Authority (CMA), the Financial Conduct Authority (FCA), and the Payment Systems Regulator (PSR)…. Read More

April 18, 2023 @ 9:32 am By JD Alois  |  

Later today, the House Financial Services Committee will hold an oversight hearing regarding the Securities and Exchange Commission with Chair Gary Gensler testifying on his leadership of the Commission. In the hours before the scheduled start of the hearing, Committee Republicans have posted a letter… Read More

April 18, 2023 @ 8:28 am By Omar Faridi  |  

Blockchain Association published a letter sent to Senator Laura Ellman and Representative Mark Walker of the Illinois Assembly stating industry opposition to HB 3479. The following statement is attributed to Kristin Smith, Blockchain Association CEO: “Illinois Assembly Bill HB 3479 would effectively outlaw crypto in… Read More

April 18, 2023 @ 7:45 am By Omar Faridi  |  

Coinbase (NASDAQ:COIN) notes that we should never doubt the importance of the UK and Europe to their business operations. Coinbase writes in a blog post that they may be a US-listed company but they know that “to succeed in their mission of increasing economic freedom,… Read More

April 17, 2023 @ 10:00 pm By JD Alois  |  

Tomorrow (April 18, 20223), SEC Chairman Gary Gensler will testify in front of the House Financial Services Committee. The oversight hearing will “examine the regulatory developments, rulemakings, and activities that the SEC has undertaken in the period since the last hearing on October 5, 2021.”… Read More

April 17, 2023 @ 4:17 pm By Omar Faridi  |  

Cynthia Del Pozo Garcia, Director, Strategy & Corporate Development at Gemini, notes that as one of the most important and developed markets in the Americas, Canada has “played an essential role in Gemini’s international expansion.” The team at Gemini are glad to show their continued… Read More

April 17, 2023 @ 2:46 pm By JD Alois  |  

  Multiple reports indicate that Shaquille O’Neal, a former NBA superstar, has finally been served after being hunted for weeks, at least according to the Moskowitz Law Firm. Shaq was one of a handful of celebrities that got caught up in the promotion of FTX… Read More

April 17, 2023 @ 12:42 pm By JD Alois  |  

Bittrex, a crypto exchange that announced it was ceasing operations at the end of last month, has been hit with an enforcement action by the Securities and Exchange Commission (SEC). The SEC has charged Bittrex and its former CEO William Shihara for operating an unregistered… Read More

April 17, 2023 @ 11:27 am By JD Alois  |  

The mention of terms in 10-K filings associated with public policy risk, IE regulation has increased by 27% in the last decade, according to a report by the US Chamber of Commerce. The Chamber states that changes in taxes, regulations, and enforcement have increased dramatically… Read More

April 17, 2023 @ 10:25 am By JD Alois  |  

At the end of March, US-based crypto exchange Bittrex announced that it was shuttering its operations. Bittrex stated that it would cease operations on April 30, 2023, while providing a series of timelines for its users, recommending that accounts are closed as soon as possible…. Read More

April 17, 2023 @ 9:49 am By JD Alois  |  

On Wednesday, April 19, 2023, the House Subcommittee on Digital Assets, Fintech, and Inclusion, will hold a hearing on stablecoins. The hearing is being joined by draft legislation that may end up providing a viable path to regulate this new form of payments and transfers…. Read More

April 17, 2023 @ 8:32 am By Omar Faridi  |  

Thunes, a global cross-border payments company, has been granted a new Payments Institution license by the Autorité de Contrôle Prudentiel et de Résolution (ACPR) in France, which will enable the company “to send payments worldwide on behalf of its French or EU customers and partners.”… Read More

April 17, 2023 @ 8:30 am By Omar Faridi  |  

The European Investment Bank (EIB) is granting a €100 million loan to illimity which, in turn, “undertakes to invest an additional €100 million for small businesses through b-ilty, the illimity Group’s digital bank.” As noted in the update, 30% of the resources will be “channeled to… Read More