Politics, Legal & Regulation

March 21, 2022 @ 8:06 am By Omar Faridi  |  

Townsend Lansing, Head of Product at CoinShares and Nick du Cros, the Head of Compliance and Regulatory affairs at CoinShares, have noted that there appears to have been “quite a bit of confusion” in the digital assets community recently regarding the proposals in the EU… Read More

March 21, 2022 @ 8:04 am By Omar Faridi  |  

Lithuania’s borderless financing platform Debitum confirms that the ongoing war in Ukraine is affecting everyone. Debitum is “strongly against” the Russian aggression and they are supporting their partners and their employees based in Ukraine. For investors, “who purchased claim rights related to borrowers from Ukraine,… Read More

March 20, 2022 @ 8:58 pm By Omar Faridi  |  

PeerBerry notes that their business partners have assessed the changes in interest rates in international markets and have “made appropriate changes in the interest rates on loans offered to invest in on the PeerBerry platform – the interest rates are slightly increasing.” Interest rates on… Read More

March 19, 2022 @ 11:17 am By JD Alois  |  

The Securities and Exchange Commission‘s (SEC)  41st Annual Government-Business Forum on Small Business Capital Formation will take place as a virtual gathering once again. Pre-covid, the event was held in person either in Washington, DC or at another venue around the US. For this year’s… Read More

March 18, 2022 @ 4:02 pm By JD Alois  |  

Yesterday, Senator Elizabeth Warren, along with several other Democrat Senators, introduced legislation that is designed to crack down on Russian “Elites” or oligarchs, who may utilize crypto to evade the economic sanctions that have been applied by many countries around the world. The Digital Asset… Read More

March 18, 2022 @ 12:04 pm By JD Alois  |  

Congressman Tom Emmer distributed a series of Tweets this past week that is emblematic of the frustration pertaining to the digital asset industry and a recalcitrant Securities and Exchange Commission when it comes to fostering a productive regulatory environment. Included in the Tweets, the Congressman… Read More

March 18, 2022 @ 8:00 am By Omar Faridi  |  

We recently caught up with Brian Reisbeck, the newly appointed Chief Compliance Officer at Coinme, a cryptocurrency cash exchange in the United States. Brian Reisbeck has joined Coinme as CCO and will help lead the firm’s compliance program and guide the organization in “maintaining regulatory… Read More

March 17, 2022 @ 3:56 pm By JD Alois  |  

The Bank of Canada has announced a partnership with the Massachusetts Institute of Technology (MIT) on a project to investigate the potential of issuing a Central Bank Digital Currency (CBDC). Some time ago, the US Federal Reserve made a similar announcement of a project with… Read More

March 17, 2022 @ 10:05 am By JD Alois  |  

As inflation rages higher, the Bank of England announced it was raising its benchmark rate by 25 basis points to 0.75%. One voting member preferred to leave rates unchanged. The BoE said that developments since the February Report are likely to accentuate both the peak… Read More

March 17, 2022 @ 9:06 am By JD Alois  |  

OTC Markets Group (OTCQX: OTCM), a marketplace for domestic and international securities, states that it has signed an agreement to acquire the assets of Blue Sky Data Corp, a provider of equity and debt compliance data regarding state “Blue Sky” securities rules and regulations. Many… Read More

March 16, 2022 @ 10:54 pm By Tony Zerucha  |  

MoneyGram has agreed to pay an $8.25 million fine related to its failure to properly monitor local storefronts’ transfer activity to China. The company confirmed today it agreed to the settlement with the New York Department of Financial Services through a consent order. The company… Read More

March 16, 2022 @ 2:51 pm By JD Alois  |  

Financial Technology Association (FTA) CEO Penny Lee has published an Op-Ed on Buy Now-Pay Later (BNPL) services a Fintech service that has suffered from “misinformation.” BNPL services are frequently at the point of sale when a purchaser is given the option for credit to pay… Read More

March 16, 2022 @ 9:30 am By Omar Faridi  |  

The Financial Conduct Authority (FCA), the United Kingdom’s financial services industry regulator, is reportedly looking for a professional to head the digital assets unit and build up a new team. This, according to a job posting via LinkedIn. The department head will be required to… Read More

March 16, 2022 @ 7:48 am By Omar Faridi  |  

Treezor, the European firm focused on Banking-as-a-Service (BaaS) solutions, has obtained authorization from the ACPR in order to expand its activities and now “has all the payment service licenses (from 1 to 8).” The new authorizations (i.e. 1, 4, 6, 7 and 8) mean Treezor… Read More

March 15, 2022 @ 3:30 pm By JD Alois  |  

Following questions regarding sufficient support in the US Senate, Sarah Bloom Raskin has decided to pull her name for consideration as a Federal Reserve Board Member. Yesterday, Senator Joe Manchin indicated he would not vote to confirm her nomination – potentially leaving the Senate without… Read More

March 15, 2022 @ 11:56 am By JD Alois  |  

SEC Commissioner Allison Herren Lee has announced her pending departure from the Commission. According to a statement, Lee’s term expires this June and she has decided to exit the top US securities regulator at that time. Commissioner Lee issued the following statement: “My term as… Read More

March 15, 2022 @ 11:08 am By JD Alois  |  

Last week, the White House issued an Executive Order on digital assets that outline an approach to regulating the emerging industry. While many details remain to be disclosed, and multiple agencies will be involved in building a regulatory strategy, the crypto industry was relieved that… Read More

March 15, 2022 @ 9:57 am By JD Alois  |  

Michele Korver has joined a16z Crypto as its new Head of Regulatory. According to a note from a16z, Korver has a reputation as the DOJ [Department of Justice] “crypto czar” having spent more than 25 years in government and law enforcement. Korver started her career… Read More

March 15, 2022 @ 9:24 am By Omar Faridi  |  

The United Kingdom’s Competition and Markets Authority has clarified what may and may not be used for when it is introduced later in 2022. The CMA mandated the use of Variable Recurring Payments (VRPs) as the mechanism for implementing Sweeping – which is described as… Read More

March 14, 2022 @ 10:48 pm By JD Alois  |  

Binance has received a crypto asset license from the Central Bank of Bahrain (CBB), according to the crypto exchange. This is Binance’s first digital asset-specific license. The company said approval by the CBB demonstrated its commitment to being in regulatory compliance as the first of… Read More