Politics, Legal & Regulation

July 27, 2022 @ 3:48 pm By JD Alois  |  

The Securities and Exchange Commission (SEC), Small Business Capital Formation Advisory Committee (SBCFAC) has scheduled a meeting to discuss the topic of crowdfunded securities, under Reg CF and Reg +, and liquidity. The SBCFAC is a group of industry leaders that advise the Commission on… Read More

July 26, 2022 @ 12:28 pm By JD Alois  |  

Monzo, a leading digital bank, has been ordered by the UK Competition and Markets Authority (CMA) to manage its departing customers better. According to a statement by the CMA, Monzo must review how it communicates with exiting customers regarding historic financial transactions. Apparently, Monzo informed… Read More

July 26, 2022 @ 10:12 am By JD Alois  |  

The Italian Ministry of Economy and Finance (Ministero dell’Economia e delle Finanze) has issued a statement denying a data breach at the Italian Revenue Agency (Agenzia delle Entrate). Astatement posted by the Ministry via Sogei states: “No hacker attacks on the Revenue Agency With regard… Read More

July 26, 2022 @ 8:57 am By JD Alois  |  

Coinbase (NASDAQ:COIN) recently worked with the Securities and Exchange Commission (SEC) to pursue an insider action investigation that ended up with three individuals, including a former Coinbase manager, being hit with a lawsuit by the SEC as well as parallel criminal charges from the US… Read More

July 25, 2022 @ 6:48 pm By JD Alois  |  

As part of a virtual presentation today hosted by the Brookings Institution, CFTC Chairman Rostin Behnam delivered a speech addressing crypto regulation. As any follower of the digital asset sector will understand, regulation of crypto remains a bit opaque After a round-up of the developing… Read More

July 25, 2022 @ 4:02 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has revealed multiple enforcement actions involving allegations of insider trading. The charges are also being joined by parallel criminal charges filed in the Southern District of New York. According to the SEC, three actions emanated from the SEC Enforcement… Read More

July 24, 2022 @ 11:47 pm By JD Alois  |  

Recently, new European Crowdfunding Service Provider Regulation (ECSPR) compliance was extended for another year. Actionable as of November 2021, the move to harmonize European regulation was greated as an enormous leap for online capital formation. For the first time, platforms would be able to help… Read More

July 24, 2022 @ 10:41 pm By Omar Faridi  |  

Crypto.com, which claims to be one of the world’s “fastest -growing” cryptocurrency platforms, recently announced that it has received registration and regulatory approval from the Organismo Agenti e Mediatori (OAM) in Italy as “a provider of virtual currency and digital wallet services.” This approval will… Read More

July 24, 2022 @ 9:26 pm By JD Alois  |  

Later this month, the US government will release GDP numbers which may or may not indicate the economy is in a recession. The White House is already taking steps to prepare for a potentially negative report. A recession is typically defined as two-quarters of negative… Read More

July 24, 2022 @ 8:53 pm By JD Alois  |  

Last week, the  Securities and Exchange Commission filed a lawsuit against the perpetrators of an alleged insider trading scam utilizing privileged information from Coinbase. A former Coinbase manager, along with two co-conspirators, have been charged as well. The former Coinbase manager, Ishan Wahi, his brother… Read More

July 24, 2022 @ 8:40 pm By Omar Faridi  |  

Huobi Group, which claims to be one of the world’s leading financial services providers specializing in cryptocurrencies and related products, recently announced that it has been granted MVP provisional approval by the Dubai Virtual Assets Regulatory Authority (VARA) on July 15, 2022, while it “undertakes… Read More

July 22, 2022 @ 9:48 am By JD Alois  |  

In recent days, the Securities and Exchange Commission (SEC) filed an enforcement action alleging insider trading involving a former Coinbase (NASDAQ:COIN) manager and two other partners. Simultaneously, criminal charges were filed by the US Department of Justice. Buried within the SEC complaint was the statement… Read More

July 21, 2022 @ 8:32 pm By JD Alois  |  

As was reported earlier today, the Securities and Exchange Commission (SEC) has filed charges in regards to a former Coinbase manager and allegations of insider trading that involved two other perpetrators. The SEC noted that criminal charges have been simultaneously filed in the Southern District… Read More

July 21, 2022 @ 2:53 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has filed insider trading charges against a former Coinbase (NASDAQ:COIN) manager Ishan Wahi along with his brother Nikhil Wahi, and his friend, Sameer Ramani. In a parallel action, the U.S. Attorney’s Office for the Southern District of New York… Read More

July 21, 2022 @ 11:19 am By JD Alois  |  

The Autorité des Marchés Financiers (AMF) and the Autorité de Régulation Professionnelle de la Publicité (ARPP) will partner on promotions and communications in the financial sector especially in light of the changing environment for offerings. The agreement notes specifically the need to partner on “the… Read More

July 20, 2022 @ 9:34 pm By JD Alois  |  

Last week in Brussels, the EU – U.S. Joint Financial Regulatory Forum took place where policy makers tackled various aspects of global financial services. EU participants included representatives of the European Commission, the European Banking Authority (EBA), the European Securities and Markets Authority (ESMA), the… Read More

July 20, 2022 @ 4:22 pm By JD Alois  |  

Today, the Financial Services and Markets Bill was introduced to Parliament in the UK. The legislation will replace “hundreds of pieces of EU retained law” as the UK moves beyond the oversight in Brussels. The aim of the bill is to establish a “coherent, agile… Read More

July 20, 2022 @ 9:04 am By JD Alois  |  

Today, the UK government has announced that the Recovery Loan Scheme (RLS), launched in April 2021 to help businesses counter the COVID crippled economy, will be extended for a further two years. Originally set to end last December, during the Autumn Budget the government extended… Read More

July 20, 2022 @ 7:40 am By Omar Faridi  |  

Digital asset firm Gemini  recently revealed that they’ve become the first company to be registered as a Virtual Asset Service Provider (VASP) by the Central Bank of Ireland. Their VASP registration comes on “the heels of [their] Electronic Money Institution (EMI) authorization in February of… Read More

July 19, 2022 @ 10:54 pm By Omar Faridi  |  

The UK Government is currently dealing with a political crisis with over 50 parliament members resigned from the government “in protest” of Prime Minister Boris Johnson’s leadership, the Robo.cash team recently noted. Many events, like the Chris Pincher affair, raising taxes amid inflation, the “partygate”… Read More