Politics, Legal & Regulation

Policy and regulations impacting innovations in Finance.

Russia’s Planned Introduction of its Cryptocurrency Bill has Been Postponed Again, Due to Coronavirus Outbreak

The planned introduction of Russia’s cryptocurrency laws and regulations have been delayed again, due to the Coronavirus (COVID-19) outbreak. Anatoly Aksakov, chairman at the Russian State Duma committee on financial markets, claims that the nation’s virtual currency law, the bill “On Digital Financial Assets,” has… Read More

Once an Advocate of Reg A+, Tripoint Global Equities Shutters Broker Dealer

Tripoint Global Equities, an early advocate of issuing securities under updated rules for Reg A+, has filed with the Securities and Exchange Commission to shut down its broker-dealer . The information was part of a recently filed Focus report. To quote the document: “On March 13,… Read More

BOX Exchange Requested Rule Change Denied Again by SEC

The Securities and Exchange Commission (SEC) has denied a requested rule change by the BOX Exchange to amend the fee schedule affiliated with entities that connect to the BOX network. On March 29, 2019, the Division of Trading and Markets at the SEC issued an… Read More

SEC: Small Business Capital Formation Advisory Committee & Investor Advisory Committee Schedule Meetings to Discuss COVID-19 Impact

The Securities and Exchange Commission has announced two meetings of Committees that provide recommendations to the Commission. The Small Business Capital Formation Advisory Committee on Small and Emerging Companies Meeting and the Investor Advisory Committee will both be holding meetings on Thursday, April 2, 2020…. Read More

Seedrs Founder Comments on COVID-19 and UK Government Support

Seedrs founder and Chairman Jeff Lynn has distributed his thoughts on the ongoing impact of the COVID-19 pandemic and the UK government’s approach to aid the struggling economy – more specifically for early-stage firms. Lynn dices the issue up between the Good, the Bad and… Read More

CipherTrace Enlisted to Advise Japanese Regulators on FATF Crypto Travel Rules

CipherTrace, a cryptocurrency research and tracking platform that provides services to both the public and private sector, has distributed a note that it is meeting with Japanese financial regulators to review the relatively new FATF travel rules and its impact on “virtual asset service providers… Read More

Parliament of Australia: Select Committee on Fintech & Regtech Re-Opens Comments on Sector in Light of COVID-19 Pandemic

The Australian Select Committee on Financial Technology and Regulatory Technology (ie Fintech and Regtech) has re-opened a consultation in light of the ongoing Coronavirus or COVID-19 pandemic. According to the Australian Parliament: “Since the committee finished its last round of public hearings in February, Australia’s… Read More

Global Banking Authorities Postpone Release of Basel III Banking Rules Reform from Jan 2022 to Jan 2023 Due to COVID-19

Global banking regulators released a statement on March 27, 2020 in which they noted that elements of the Basel III banking rules reform that have not yet been finalized will be delayed for at least a year, because of the coronavirus (COVID-19) outbreak. The release… Read More

US Department of Justice Alleges that President Nicolas Maduro and other Venezuelan Leaders Used Cryptocurrencies to Bypass Political and Economic Sanctions

The US Department of Justice (DOJ) is alleging that several Venezuelan leaders and politicians, including President Nicolas Maduro, took advantage of their positions, financial systems, and virtual currencies to conceal and carry out criminal activity for more than two decades. An indictment released on March… Read More

UK: Why we MUST be Outraged & Why Those Banks, Who Would Steal the Bailout, Mustn’t be Allowed to Kill the Fintech Competition

Why we may not be surprised but we must be outraged! The banks are a danger to our society – and, according to the BIS (the Centralbank’s Central Bank)  an unnecessary one at that. The UK government has over the last two weeks taken unprecedented… Read More

FCA: Short Term Lender Uncle Buck Enters Administration

Uncle Buck, a short term or payday lender, has gone into administration due to an action taken by the Financial Conduct Authority (FCA). The FCA posted a notice today that Uncle Buck was “failing to meet the adequate resources Threshold Condition.” The severity of the… Read More

Online Capital Formation: Reg A+ and Reg CF Issuers Receive Some COVID-19 Induced Relief from SEC

Yesterday, the Securities and Exchange Commission (SEC) announced that it is providing temporary regulatory relief to market participants in response to the effects of COVID-19. The actions involve filings on the EDGAR system as well as certain company filing obligations under Regulation A (Reg A+)… Read More

European Authorities to Temporarily Relax MiFID II Financial Regulations for Recording Customer Phone Conversations

The coronavirus (COVID-19) pandemic has forced large numbers of professionals to work from home. Europe’s regulatory authorities have decided to temporarily relax MiFID II rules, which may apply when recording telephone conversations. MiFID II (Markets in Financial Instruments Directive) is a legislative framework introduced by… Read More

The Association of Online Investment Platforms Responds to SEC’s Proposed Changes to the Exempt Offering Framework

On March 4th the Securities and Exchange Commission (SEC) published a proposal to amend multiple securities exemptions. If enacted, the proposed amendments would be the largest changes to securities law since the passage of the JOBS Act, and will strengthen the small business and startup… Read More

Judge Castel: Telegram Fails to Establish Exemption from Registration

The Citizens Jury Wheel Legal Court Trial Justice Judge Law

Yesterday, in an Opinion and Order from Judge P. Kevin Castel, it was decided that Telegram has failed to establish an exemption from the registration requirement under existing securities law. Telegram is an app that is a highly popular messaging service utilized by more than… Read More

CFTC Announces Final Guidance on Delivery of Digital Assets

The Commodity Futures Trading Commission (CFTC) has “unanimously” approved final interpretive guidance concerning retail commodity transactions involving certain digital assets. Specifically, the guidance clarifies the CFTC’s views regarding the “actual delivery” exception to Section 2(c)(2)(D) of the Commodity Exchange Act (CEA) in the context of… Read More

Bitclub Fraud Suspects Look for Early Release Due to Coronavirus Fears

The alleged fraudsters involved in the BitClub $722 million crypto fraud are looking to be released from the county jail over fears of the COVID-19 pandemic. In December of 2019, the US Justice Department announced the indictment of three individuals. Matthew Brent Goettsche, 37, of… Read More

Everything but the Kitchen Sink: Buried within the Democrats Proposal for COVID-19 Response is a Digital Dollar Requirement

This probably should come as no surprise. As the economy dives and the Coronavirus spreads across the US, elected officials in Washington, DC struggle to agree on a relief package. It has been reported that Republicans and Democrats had come to terms on a bailout… Read More

Conjurers not Magicians – Who’ll Get The Bailout?

It is we, the crowd, who will rebuild the economy after Covid-19. We need the means to do it. The last couple of weeks has revealed who it is that runs the real economy, beyond the glass towers that loom over everything else, imposing their… Read More

Send this to a friend