Politics, Legal & Regulation

June 8, 2022 @ 11:17 am By JD Alois  |  

The Securities and Exchange Commission (SEC) is investigating the BNB token, issued by the world’s largest crypto exchange Binance. This is according to a report by Bloomberg and should come as no surprise to anyone as the SEC has long messaged their view that just… Read More

June 7, 2022 @ 4:12 pm By JD Alois  |  

John Berlau, a securities and regulatory expert at the Competitive Enterprise Institute (CEI) has shared his initial thoughts on the bi-partisan legislation posted today by Senators Kirsten Gillibrand and Cynthia Lummis. Berlau, long a supporter of beneficial Fintech innovation believes the legislation is a solid… Read More

June 7, 2022 @ 3:41 pm By JD Alois  |  

Earlier today, Senators Cynthia Lummis and Kirsten Gillibrand revealed their bi-partisan legislation to apply regulatory clarity to the growing digital asset ecosystem in the US. For years now, the crypto industry has desired bright-line rules to provide compliant offerings and regulated platforms, yet regulators have… Read More

June 7, 2022 @ 11:49 am By JD Alois  |  

Senator Kirsten Gillibrand and Senator Cynthia Lummis have officially revealed legislation aiming to create a regulatory framework for the burgeoning digital asset industry. The two Senators have worked for many months on the language of the bill. The legislation has long been rumored with a… Read More

June 6, 2022 @ 9:34 pm By JD Alois  |  

The European Parliament has posted regulations pertaining to tokenization and digital securities leveraging blockchain or distributed ledger technology. The DLT pilot plan aims to enable innovators to advance their platforms while providing a safe environment for users. To quote the document: It is important to… Read More

June 6, 2022 @ 6:44 am By Omar Faridi  |  

Copper.co, the provider of institutional digital asset custody and trading solutions, recently announced that it has been approved for membership of the Swiss Financial Services Standard Association (VQF) via Copper’s Swiss entity based in Zug. Copper’s VQF membership “provides assurance to its clients regarding the… Read More

June 5, 2022 @ 6:47 pm By Omar Faridi  |  

On May 23, 2022, the Consumer Financial Protection Bureau (CFPB), in partnership with the New York Attorney General, filed a proposed judgment “against a debt collection enterprise with a history of deception and harassment to pay $4 million and be permanently banned from the debt… Read More

June 5, 2022 @ 6:42 pm By JD Alois  |  

According to Coinmarketcap, the global aggregate crypto value stands at $1.24 trillion. Sounds like a lot, except when you recall that the total market cap stood at over $3 trillion last November. Crypto, including the most popular tokens like Bitcoin and Ether, have collapsed in… Read More

June 5, 2022 @ 6:16 pm By JD Alois  |  

A group of “technologists” has published an open letter addressed to Congressional leaders asking them to push back on the narrative that crypto and Web3 are good for financial services. The “26 computer scientists, software engineers, and technologists” state in the “Letter in Support of… Read More

June 5, 2022 @ 5:24 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has received final judgments against crowdfunding issuer, 420 Real Estate, LLC, and its CEO, Willard Jackson. The court case, SEC v. Shumake, has previously obtained judgments against Defendants TruCrowd, Vicent Petrescu, and Nicole Birch. According to FINRA, TruCrowd is… Read More

June 5, 2022 @ 4:54 pm By Omar Faridi  |  

The team at Alloy, which specializes in identity verification APIs that make KYC/AML “effective and simple,” has looked into how DeFi has evolved into a “major” sector of crypto without running KYC or AML checks on users. The Alloy team members have looked at “Permissioned… Read More

June 4, 2022 @ 2:53 pm By JD Alois  |  

This past week it was reported that the US Department of Justice had arrested and charged a former OpenSea employee with insider trading of NFTs or non-fungible tokens. The individual in question, Nathanial Chastain,  has been charged with wire fraud, and money laundering as he… Read More

June 4, 2022 @ 2:39 pm By JD Alois  |  

The US Federal Trade Commission (FTC) says that more than $1 billion has been lost to crypto scams since the beginning of 2021 impacting over 46,000 individuals. According to the FTC, the median individual reported loss stood at $2,600. The top cryptos involved in the… Read More

June 3, 2022 @ 4:13 pm By JD Alois  |  

The New York state legislature has approved a bill that would commence a moratorium on crypto mining operations. The bill was designed as an attempt to mitigate emissions caused by crypto mining which tends to be an energy-intensive process as servers compete to create and… Read More

June 3, 2022 @ 2:46 pm By JD Alois  |  

  The state legislature of New York has approved legislation that establishes a moratorium on cryptocurrency mining operations that use proof-of-work to validate blockchain transactions. The aim is to mitigate the utilization of of electricity that can drive carbon emissions. According to the language of… Read More

June 2, 2022 @ 3:39 pm By JD Alois  |  

It was reported earlier that the US Department of Justice had announced its first arrest and pending case against an individual that utilized insider information to trade digital assets. A former OpenSea manager has been charged with leveraging his position and insider knowledge at the… Read More

June 2, 2022 @ 2:34 pm By JD Alois  |  

Gemini Trust Company is the target of an enforcement action filed by the Commodity Futures Trading Commission (CFTC). The complaint was filed in the U.S. District Court for the Southern District of New York against Gemini for making false or misleading statements of material facts… Read More

June 2, 2022 @ 12:07 pm By JD Alois  |  

FourUsAll, a “tech-Enabled 401(k) advisor,” has sued the US Department of Labor over guidance issued regarding firms allowing savers to include crypto in their retirement savings accounts. FourUsAll aims to be the first enabler to offer secure access to cryptocurrency. ForUsAll touts its intent to… Read More

June 2, 2022 @ 10:55 am By JD Alois  |  

A former employee of OpenSea (Ozone Networks, Inc.) has been arrested and charged with the first-ever digital asset insider trading scheme, according to the US Department of Justice (DOJ). Nathanial Chastain a former Product Manager at OpenSea has been charged with wire fraud, and money… Read More

June 1, 2022 @ 11:06 pm By Omar Faridi  |  

Regtech firm Tintra PLC has revealed plans to acquire banking licenses across four continents, in order to enable it to operate to the “highest” regulatory standards as it aims to enhance the global financial market. Focused on building a socially and “fiscally inclusive” banking platform… Read More