Politics, Legal & Regulation

Former CFTC Enforcement Lawyer Joins Perkins Coie to Boost Blockchain Cred

Perkins Coie has hired a former US Commodity Futures Trading Commission (CFTC) Division of Enforcement counsel Kari Larsen. She has joined the law firm’s Blockchain Technology & Digital Currency industry group and Investment Management practice in New York. Larsen began her career as International Operations Counsel… Read More

Ontario Securities Commission Releases Colourful New “Cryptoasset” Educational Website

The Ontario Securities Commission, regulator of capital markets in Canada’s most populous economic-powerhouse province, have created a colourful new website to educate investors about cryptocurrencies: GetSmarterAboutCrypto.ca According to a release announcing the initiative, 5% of adult Ontarians, or around 500 000 individuals, now own “crypto assets,”… Read More

France is Ready to Lead the Crypto Revolution: French Treasury Department Shares Perspective on PACTE Law, Initial Coin Offerings

France is positioning itself as a jurisdiction of preference for initial coin offerings (ICOs) in Europe. The government is in the midst of finalizing legislation, under the PACTE Law,  that will regulate ICOs. While several other European countries have moved forward with specific legislation designed… Read More

Top Bulgarian Immigration Officials Detained for Selling EU Passports for Bitcoins

The Chief Secretary and the Head of the State Agency for Bulgarians Abroad  (SABA) along with an accused Serbian co-conspirator, have been detained by Bulgarian police and charged with selling EU passports for Bitcoins, Nova and The Times report. According to the Times, SABA Head Petar Haralampiev has been arrested on… Read More

China Flags Crypto “Airdrops”

As part of ongoing government efforts to quash initial coin offerings (ICOs) in China, the People’s Bank of China (PBoC) has extended prohibitions to cover “airdrops” -the promotional distribution of free cryptographic tokens- which may possibly be being used now in China to circumvent the… Read More

Report: SEC Director of CorpFin Says Cryptocurrency Guidance Coming

According to a report today, the Director of Corporate Finance, Securities and Exchange Commission (SEC), Bill Hinman, told an audience at DC Fintech Week that guidance will be forthcoming for cryptocurrency issuers. The report first picked up by CoinTelegraph, quoted Hinman: “We also will be… Read More

China – Singapore Connectivity Initiative Financial Summit Establishes More Fintech Collaboration

Last week, more than 500 government officials, financial sector professionals and corporate leaders from China and Southeast Asia attended the inaugural China (Chongqing)-Singapore Connectivity Initiative Financial Summit in Chongqing. According to the Monetary Authority of Singapore (MAS), the Summit presented collaboration opportunities on cross-border financial… Read More

Taiwan Bans Anonymous Crypto Trades

Trading cryptocurrencies anonymously is no longer legal in Taiwan, Focus Taiwan reports. The change was made Friday, November 2nd as Taiwan prepares to be evaluated by the Asia/Pacific Group on Money Laundering (APG), which will take place between Nov. 5th and the 16th. Although Taiwan also… Read More

SEC Annual Enforcement Report Sees “Diverse Mix” of Enforcement Actions, Comments on Crypto: Many Ongoing Investigations

On Friday, the Securities and Exchange Commission (SEC), Division of Enforcement, issued their annual report updating on fiscal 2018 enforcement actions. According to the report, 2018 was a busy year as more than 821 enforcement actions occurred, representing a “diverse mix” of securities law transgressions…. Read More

CEO of Hong Kong Securities and Futures Commission: “The Pace of Change and Innovation in Financial Services is Unprecedented”

Hong Kong City

During Hong Kong Fintech Week, the CEO of the Hong Kong Securities and Futures Commission (SFC), Ashley Alder, spoke about the benefits and challenges of Fintech. According to Alder: “It is obvious that the pace of change and innovation in financial services is unprecedented. We… Read More

Hong Kong Securities and Futures Commission Updates on Regulatory Approach for Digital Assets

Announced during Hong Kong Fintech Week, the Securities and Futures Commission of Hong Kong issued a statement on their approach which seeks to bring both digital asset portfolio managers and distributors of these “virtual asset funds” under its regulatory purview. Additionally, SFC has released a… Read More

Saskatchewan Markets Regulator Cautions Public Around Investing in Cryptocurrencies

The Financial and Consumer Affairs Authority (FCAA) in the Canadian province of Saskatchewan has issued a warning to investors cautioning them around investing or trading in cryptocurrencies. In its “Using Or Investing In Cryptocurrency? Know The Risks” release issued October 31st, the last day of Investor… Read More

Winklevoss Twins Suing Charlie Shrem, Say He Owes 5000 Bitcoins

The Citizens Jury Wheel Legal Court Trial Justice Judge Law

Lawyers for the Winklevoss twins want to know where “Bitcoin’s first felon” Charlie Shrem’s money is coming from, and are suing him for 5000 bitcoins they say he owes their clients, the New York Times (NYT) reports. Shrem and a partner from England started Bitinstant in… Read More

Bank of England Hosts Future Forum with Theme of “the Future of Money”

The Governor of the Bank of England, Mark Carney, shared details of the Bank’s annual Future Forum today. The “Future Forum 2018” will have the theme of “Let’s Decide the Future of Money”. Carney, typically a vocal proponent of Fintech innovation, said: “… this is a chance… Read More

Divest from Dark Money: OpenInvest Utilizes CPA-Zicklin Index to Advise Politically Transparent Investments

OpenInvest, a digital investment advisor for socially responsible investing, launched Divest from Dark Money, a one-click way to invest in companies that prioritize political transparency. The Divest from Dark Money screen allows investors to divest from companies that fail to publicly disclose whether corporate funds… Read More

Indian Finance Leaders Reportedly “Devising…Ban on Use of Private Cryptocurrencies”

Politicians and regulators attending a recent meeting of the Indian Financial Stability and Development Council (FSDC) were briefed  that a dedicated “High-level Committee” chaired by the country’s Secretary of Economic affairs is, “deliberat(ing)…to devise an appropriate legal framework to ban use of private cryptocurrencies in India…”… Read More

Blockchain and Security Tokens (a/k/a Digital Securities): A Securities Lawyer’s View from the 2018 Los Angeles Crypto Invest Summit

As a securities attorney, when I attend a conference in a rapidly developing area, I come with my own prejudices and beliefs, but with an open mind and open ears – to hear,  digest and discuss the latest developments and thinking.  The 2018 Crypto Invest… Read More

San Diego LocalBitcoins Dealer Pleads Guilty to Money Laundering, Forfeits “Ill-Gotten Gains”

Jacob Burrell Campos, 21, plead guilty in San Diego yesterday to operating an unlicensed money business and agreed to forfeit $823,357.00, according to a news release from the US Attorney’s Office-Southern District of California. Mr Campos admitted he traded hundreds of thousands of dollars of… Read More

Perkins Coie Boosts Fintech Bench with Former SEC Branch Chief Valerie Dahiya

Law firm Perkins Coie has added former Securities and Exchange Commission (SEC) Branch Chief Valerie Dahiya to the firms DC office. Dahiya is joining Perkins Coie’s corporate practice as a partner. Importantly, Dahiya will join the firms Blockchain Technology & Digital Currency industry group and the… Read More

Autumn Budget: What’s in it for Fintech?

As one would expect, yesterday’s Autumn Budget announcement delivered something for everyone. With Brexit getting closer, the UK Government is in “all-hands” mode seeking to boost the economy in preparation for the European divorce. Chancellor of the Exchequer Philip Hammond stated: “We are at a… Read More

Send this to a friend