Politics, Legal & Regulation

February 1, 2022 @ 10:08 am By Omar Faridi  |  

Sourced Capital, a UK property investment platform and wholly-owned subsidiary of the Sourced Group, has announced that it received direct authorization from the Financial Conduct Authority (FCA) and “acquired Peer Funding Limited, a peer-to-peer business platform.” Sourced Capital says that it proved its solid track… Read More

February 1, 2022 @ 8:30 am By Justin Daniels  |  

Non-fungible tokens (NFT) are currently the belle of the blockchain ball. The revenue related to sales of NFT’s are staggering: $69 Million for Beeple while NBA’s Top Shot swished over $700M in sales in less than a year. Open Sea, the largest NFT exchange, has a… Read More

February 1, 2022 @ 8:03 am By Omar Faridi  |  

The European Banking Authority (EBA) has introduced its central database for anti-money laundering and counter-terrorist financing (AML/CFT). This European reporting System for material CFT/AML weaknesses, EuReCA, will be key to coordinating ongoing efforts by relevant authorities and the EBA to prevent and combat money laundering… Read More

January 31, 2022 @ 11:25 pm By JD Alois  |  

The European Securities and Markets Authority (ESMA) has issued another Q&A about the pan-European securities crowdfunding rules. Updated rules addressing cross-border securities offerings or the European Crowdfunding Service Providers Regulation (ECSPR) went into effect across the entire European Union (EU) last November. But interested platforms must be approved… Read More

January 31, 2022 @ 7:14 pm By JD Alois  |  

Last week, several Senate and House Democrats sent a letter to established crypto miners.  The letter queried miners on the negative impact on the climate due to high energy usage caused by mining crypto, like Bitcoin. The letter was signed by Senators Elizabeth Warren, Sheldon… Read More

January 31, 2022 @ 3:30 pm By JD Alois  |  

Calling Democrat authored legislation a “direct attack on the digital asset industry, Senator Cynthia Lummis is warning industry participants and proponents alike that the America Competes Act (HR 4521) may decimate the crypto sector. In a series of tweets, Senator Lummis, well-known for her advocacy… Read More

January 31, 2022 @ 8:06 am By Omar Faridi  |  

Digital asset firm Gemini says that they’re pleased to confirm that Gemini Galactic Markets (Gemini Galactic), an affiliate of the Gemini Trust Company, has received approval from FINRA to serve as a broker-dealer registered with the US Securities and Exchange Commission (SEC) and has officially… Read More

January 30, 2022 @ 9:14 pm By Omar Faridi  |  

PeerBerry shareholders have reportedly set deadlines to introduce the crowdfunding platform As noted in an update, the license to operate a crowdfunding business across the European Union has been provided by the Bank of Lithuania, which is considered to be one of the most progressive… Read More

January 30, 2022 @ 12:21 pm By Omar Faridi  |  

Kazakhstan, which is reportedly the world’s second-largest miner of Bitcoin (BTC), the flagship cryptocurrency, has closed down its digital currency mining operations until the end of this month. Kazakhstan‘s State electricity provider KEGOC decided to cut off the supply to the virtual currency miners after… Read More

January 28, 2022 @ 12:43 pm By Omar Faridi  |  

The UK’s Payment Systems Regulator (PSR) has released its initial remedies consultation for its card-acquiring market review. Each time a consumer carries out a card payment – for instance, when purchasing their weekly groceries – the merchant makes use of card-acquiring services to take the… Read More

January 27, 2022 @ 10:03 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has approved BSTX as a national securities exchange thus ushering in an era of a regulated exchange utilizing blockchain technology. The complete SEC filing is available below. BSTX is a joint venture between BOX Digital Markets, LLC and tZERO. … Read More

January 27, 2022 @ 4:15 pm By Omar Faridi  |  

On January 25, 2022, the New York State Senate reportedly voted to confirm Adrienne A. Harris as the Superintendent of the New York State Department of Financial Services (DFS). Adrienne A. Harris stated: “I thank Governor Hochul for my nomination. I thank the New York… Read More

January 27, 2022 @ 10:57 am By JD Alois  |  

Representative Patrick McHenry has joined with Representative Tim Ryan demanding that Secretary of the Treasury Janet Yellen clarify digital asset reporting requirements. McHenry is the ranking member on the House Committee on Financial Services and Ryan is a Democrat. The two are the original co-sponsors… Read More

January 27, 2022 @ 8:58 am By Omar Faridi  |  

Criminal investigators at the US Internal Revenue Services (IRS) say that virtual currencies and non-fungible tokens (NFTs) is an industry segment that can be exploited by actors engaging in fraudulent activities. These abusive activities may include actions involving money laundering, market manipulation, and even attempts… Read More

January 26, 2022 @ 4:47 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has settled actions against two Arizona-based Fintechs ZipRemit and Lendaily. The SEC that final judgments have been entered against the two firms along with CEO Gary Prior. Without admitting or denying the allegations of the amended complaint, Pryor, ZipRemit,… Read More

January 25, 2022 @ 10:38 pm By Omar Faridi  |  

The team at HYPR reveals that they’re pleased to confirm that they’ve successfully completed SOC 2 Type 2 and ISO 27001 compliance and audit initiatives “along with obtaining ISO 27017 and ISO 27018 compliance certifications.” As noted by its management, HYPR allows customers to finally… Read More

January 25, 2022 @ 8:54 pm By JD Alois  |  

The House Committee on Financial Services has posted the February hearing schedule and digital assets are on the list. According to an email from the Committee on February 8, 10 AM ET, a hearing will be held entitled “Digital Assets and the Future of Finance:… Read More

January 25, 2022 @ 10:44 am By JD Alois  |  

The Biden administration is planning to roll out a proposal for crypto regulation as soon as next month, according to reports. The White House’s policy push is expected to be accompanied by legislative proposals emerging from Congress as the Executive and Legislative branches work to… Read More

January 24, 2022 @ 11:38 pm By Omar Faridi  |  

Binance, one of the leading blockchain and crypto infrastructure providers, is pleased to confirm that it has officially joined the National Cyber-Forensics and Training Alliance (NCFTA), a nonprofit corporation primarily focused on identifying, validating, mitigating, and neutralizing cybercrime threats. Binance reports that it’s the first… Read More

January 24, 2022 @ 6:02 pm By JD Alois  |  

Congressman Patrick McHenry, the ranking member on the House Financial Services Committee, has sent a public letter to Congresswoman Maxine Waters, Chair of the House Financial Services Committee, requesting they work together to allow digital assets to “flourish.” Both Representatives have recently issued public statements… Read More