Politics, Legal & Regulation

October 17, 2022 @ 6:18 pm By JD Alois  |  

The Australian Securities and Investment Commission (ASIC) has placed an interim stop order blocking Holon Investments Australia Limited from offering or distributing three funds to retail investors due to “non-compliant target market determinations (TMDs).” The order is for 21 days unless it is revoked. ASIC expects… Read More

October 17, 2022 @ 3:54 pm By JD Alois  |  

Last week, it was reported that Bittrex was the target of an enforcement action emanating from the US Department of Treasury. Two divisions at Treasury, the Office of Foreign Assets Control (OFAC) and The Financial Crimes Enforcement Network (FinCEN) announced enforcement actions. The crypto trading… Read More

October 16, 2022 @ 11:35 pm By JD Alois  |  

There has been much discussion as to the benefits of Central Bank Digital Currencies (CBDCs). Many developed countries are researching the pros and cons, and China has been testing with consumers a digital yuan for some time now. The flip side to a CBDC is… Read More

October 15, 2022 @ 4:32 pm By JD Alois  |  

Last week, Senator John Hickenlooper sent a letter to SEC Chairman Gary Gensler criticizing the SEC’s inability to provide bright-line rules on digital assets. One of the most interesting aspects of the letter is that it came from a Democrat Senator who is chastizing an… Read More

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