Politics, Legal & Regulation

October 15, 2022 @ 3:28 pm By JD Alois  |  

This past week, the SEC’s Small Business Capital Formation Advisory Committee met to discuss several key topics regarding access to capital and smaller firms. One of the topics revolved around initial public offerings (IPOs), a sector of finance that tanked in 2022. In fact, according… Read More

October 15, 2022 @ 2:49 pm By Omar Faridi  |  

Crypto.com, which claims to be the world’s fastest growing cryptocurrency platform, announced it will “invest €150 million in France to support the establishment of its market operations, including a regional headquarters in Paris.” This investment “follows Crypto.com being registered as a Digital Asset Service Provider… Read More

October 15, 2022 @ 2:34 pm By Omar Faridi  |  

Blockchain.com, a leading crypto wallet provider, digital asset trading platform, and block explorer service provider, recently revealed that it has “secured an in-principle approval for the Major Payment Institution License offering Digital Payment Token services from the Monetary Authority of Singapore (MAS).” With this preliminary… Read More

October 13, 2022 @ 4:18 pm By JD Alois  |  

Today the SEC’s Small Business Capital Formation Advisory Committee (SBCFAC) held a meeting to address two important topics. The sagging initial public offering (IPO) market and access to capital for vital entrepreneurial markets. Both, are key policy ambitions – more so during a time of… Read More

October 12, 2022 @ 11:57 am By JD Alois  |  

Grayscale Investments, a large digital asset manager with listed products trading on OTC Markets, has sued the Securities and Exchange Commission (SEC) due to the agency’s refusal to approve a Bitcoin-based Exchange Traded Product (ETP) or spot Bitcoin ETF. According to a release, Grayscale filed… Read More

October 11, 2022 @ 11:29 pm By Omar Faridi  |  

The OECD delivered a new global tax transparency framework “to provide for the reporting and exchange of information with respect to crypto-assets.” The Crypto-Asset Reporting Framework (CARF) “responds to a G20 request that the OECD develop a framework for the automatic exchange of information between… Read More

October 11, 2022 @ 3:54 pm By JD Alois  |  

Bored Ape, or Bored Ape Yacht Club, creator Yuga Labs is being investigated by the Securities and Exchange Commission (SEC), according to a report. Bored App became emblematic of the rapid rise in non-fungible tokens (NFTs). Sales of the collectibles began in the Spring of… Read More

October 11, 2022 @ 2:56 pm By JD Alois  |  

All financial services will eventually be Fintech services, but some traditional financial firms struggle to become digitally native. Traditional banks, typically smaller ones, fall into this category. Most of these smaller banks have purchased services from Fintechs, thus providing modern platforms – others have partnered… Read More

October 11, 2022 @ 11:52 am By JD Alois  |  

The Financial Stability Board (FSB) has published a proposed framework for global regulation of crypto assets. The FSB stated in a release that “crypto-assets and markets must be subject to effective regulation and oversight commensurate with the risks they pose.” While acknowledging there is currently… Read More

October 11, 2022 @ 11:23 am By JD Alois  |  

The US Department of Treasury has revealed two enforcement actions against the crypto exchange Bittrex. According to a statement issued by Treasury, Bittrex has settled for $24 million with the Office of Foreign Assets Control (OFAC) and for $29 million with Financial Crimes Enforcement Network… Read More

October 10, 2022 @ 11:07 pm By Barry James  |  

‘Going for Growth’ Liz Truss’ Style Has Led the UK to A Precipice – Can MPs Pull it Back In Time?   Dear MPs, As Liz Truss launches her pincer movement in parliament this week – a ‘charm offensive’ coupled no doubt with a touch… Read More

October 9, 2022 @ 3:33 pm By JD Alois  |  

This past week, Singapore MP Yip Hon Weng queried public officials about the risk of money laundering and fraud in the cryptocurrency markets. Singapore has emerged as a top hub for digital asset innovation with some firms moving to the country due to its Fintech-friendly… Read More

October 7, 2022 @ 4:15 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has re-opened the commenting period due to a “technological error,” according to a statement by the regulator. Historically, when the Commission proposes new rules, there is a period of time where individuals and entities may comment as to how… Read More

October 7, 2022 @ 12:24 pm By JD Alois  |  

Sanctions continue to tighten on Russia as the war drags on with the Ukrainians rapidly regaining their territory. Russia recently held sham elections in several provinces in an attempt to show that inhabitants want to be a part of Russia. While President Putin said he… Read More

October 7, 2022 @ 8:26 am By JD Alois  |  

As initial public offerings (IPO) sink due to a one-two punch of a challenging market and the never-ending onslaught of additional regulations foisted upon issuers, the SEC’s Small Business Capital Formation Committee has scheduled a meeting to discuss IPOs as well as entrepreneurship hubs. The… Read More

October 6, 2022 @ 11:42 am By JD Alois  |  

In a letter sent to the Chair of the Committee on Economic and Monetary Affairs of the European Parliament, the European Council said it approved of the Parliament’s position on the Markets in Crypto Assets (MiCA) directive as it stands and it will be adopted… Read More

October 5, 2022 @ 9:21 pm By Omar Faridi  |  

The Federal Reserve Board announced that it has finalized updates to the Board’s rule concerning debit card transactions. Pursuant to statute, the updates “specify that debit card issuers should enable at least two payment card networks to process all debit card transactions, including ‘card-not-present’ transactions,… Read More

October 5, 2022 @ 5:06 pm By JD Alois  |  

Last week, the Association of Online Investment Platforms (AOIP), a young group aiming to advocate on behalf of online capital formation including securities crowdfunding, visited Congressional staff as well as individuals at the Securities and Exchange Commission. The AOIP members discussed possible legislation and regulations… Read More

October 5, 2022 @ 12:30 pm By JD Alois  |  

Representative Patrick McHenry, ranking Republican on the House Financial Services Committee, along with Representative French Hill and members of the Republican Digital Asset Working Group, have sent a letter to the US Department of Justice requesting an assessment on whether or not legislation is needed… Read More

October 5, 2022 @ 9:47 am By JD Alois  |  

June 2021 Promotion by Kardashian has the potential of being viewed by 328 million followers in what many think may have been the “financial promotion with the single biggest audience reach in history.” There has been plenty of chatter about the US Securities and Exchange… Read More