Politics, Legal & Regulation

February 9, 2021 @ 10:43 pm By Omar Faridi  |  

A new study by Fenergo, provider of digital transformation, customer journey and client lifecycle management (CLM) software, has revealed that Malaysia ranked the highest for data privacy fines in the Asia-Pacific (APAC) region. Fines from Malaysian authorities totaled nearly $4 billion this past year. Neighboring… Read More

February 8, 2021 @ 11:10 pm By Omar Faridi  |  

The US State of Nevada will reportedly be allowing tech giants to launch their own governments in order to collect taxes, establish school districts and courts as well, presumably in an attempt to attract more large firms. The very first “smart city’ could be launched… Read More

February 8, 2021 @ 9:04 pm By Omar Faridi  |  

Li Jun, Founder of Ontology and the SAGA Protocol, notes that we’re now living through an “activist period” of data regulation that will most likely dictate how our economies function for “generations to come.” Jun pointed out that most industries have “precedents” for regulation that… Read More

February 7, 2021 @ 8:21 pm By Omar Faridi  |  

Digital investment platform Robinhood is reportedly facing around 30 different lawsuits from traders for shutting down or not supporting GameStop trading. Several groups of Robinhood‘s clients have filed lawsuits against the stock trading service provider. Lawsuits have alleged the firm violated certain laws by imposing… Read More

February 5, 2021 @ 1:01 pm By JD Alois  |  

Recently, the SEC’s Office of the Advocate for Small Business Capital Formation (OASB) shared a presentation outlining the performance of securities exemptions during 2020. The presentation reviewed the utilization of Reg D, Reg A+, and Reg CF as these are the main avenues to raise… Read More

February 5, 2021 @ 10:05 am By Omar Faridi  |  

The US Securities and Exchange Commission (SEC) has been carefully reviewing social media posts, as the federal regulator is looking out for any signs of potential fraud, which may have increased due to the frenzied trading of GameStop and other firms’ shares. The SEC‘s probe… Read More

February 4, 2021 @ 10:50 pm By Omar Faridi  |  

The introduction of Australia’s Consumer Data Right (CDR) laws on July 1, 2020 marked the initial phase of Open Banking in the country, which may improve the services offered by the local banking sector. More than 6 months into CDR and Open Banking in Australia… Read More

February 4, 2021 @ 8:09 pm By Omar Faridi  |  

The Monetary Authority of Singapore (MAS), the nation’s central bank and financial regulator, and the Singapore Exchange Regulation (SGX RegCo) have asked the general public to be on alert to the potential risks that may be involved in trading in securities incited by online discussion… Read More

February 4, 2021 @ 5:34 pm By Omar Faridi  |  

Digital asset exchange Coinbase recently published its Around the Block #11: “A snapshot of decentralized finance (DeFi) and two sides of the crypto regulatory spectrum” (report), which aims to cover important issues in the crypto and blockchain industry. In this latest edition, released on February… Read More

February 4, 2021 @ 5:04 pm By JD Alois  |  

German Finance Minister Olaf Scholz is taking some heat from various politicians as fingers look for somewhere to point blame. Social Democrat Scholz, along with his deputy Joerg Kukies continue to deny responsibility for the collapse of Wirecard AG (WDI.F), a Fintech that was once… Read More

February 3, 2021 @ 9:03 pm By Omar Faridi  |  

NPR’s Ailsa Chang recently covered the US Securities and Exchange Commission’s (SEC) expected role in conducting an investigation into the Reddit / social media takeover of Wall Street. SEC Acting Chair Allison Herren Lee commented on the agency’s role in looking into the matter. The… Read More

February 3, 2021 @ 12:11 pm By JD Alois  |  

FINRA’s 2021 Report on Examination and Risk Monitoring Program mentions several current topics including digital assets and “game like” trading. According to the report, Exam Findings regarding digital asset trading has uncovered shortcomings when it comes to investors using digital asset marketplaces. To quote the… Read More

February 3, 2021 @ 11:50 am By JD Alois  |  

Last month, the Luxembourg parliament approved legislation that enables securities to be issued and managed using distributed ledger technology or blockchain. According to CMS Luxembourg the law: Modernizes the Luxembourg law of 6 April 2013 on dematerialized securities (the “2013 Law”) by inserting a definition… Read More

February 2, 2021 @ 10:16 pm By Omar Faridi  |  

Bengaluru-based Simpl, a company that aims to make money simple, so that people can “live well and do amazing things,” has noted that the recent India budget appears to be focusing on the “revival” of inclusive economic growth and an “expansionary fiscal policy that prioritized… Read More

February 2, 2021 @ 4:00 pm By Lee A. Schneider  |  

  Let me start with a confession: I am not smart enough to be a tax lawyer, certainly not a US tax lawyer.  The intricacies of the US tax code defy my brain’s attempts to systematize a coherent taxonomy.  The tax code is too complex… Read More

February 2, 2021 @ 12:28 pm By Omar Faridi  |  

Banks in Venezuela are reportedly issuing debit cards for US dollar-denominated accounts, according to a report from Reuters which cited sources familiar with the matter. There’s now a group of Venezuelan banking institutions that have been providing debit cards to customers who maintain accounts in… Read More

February 1, 2021 @ 8:24 pm By JD Alois  |  

CoAssets, an early entrant in the investment crowdfunding sector that once saw its shares trade on the Australian Stock Exchange (ASX), is being investigated by government authorities in Singapore following the news the company was shutting down. Earlier this month, CoAssets issued the following statement:… Read More

February 1, 2021 @ 6:32 pm By JD Alois  |  

Representative Maxine Waters, Chairwoman of the House Committee on Financial Services, has scheduled a hearing to address the trading in Gamestop shares as well as the broader issue of market volatility. The hearing, entitled “Game Stopped? Who Wins and Loses When Short Sellers, Social Media,… Read More

February 1, 2021 @ 6:22 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has filed charges against Kristijan Krstic, founder of Start Options and Bitcoiin2Gen, and John DeMarr, said to be the primary U.S.-based promoter for these companies, for fraudulently induced investors to buy digital asset securities. The complaint states that Krstic… Read More

January 31, 2021 @ 11:50 pm By Omar Faridi  |  

The Indian Parliament will reportedly be considering a government-supported bill that could place a ban on “private” cryptocurrencies during its upcoming budget session. Since the nation’s ruling party has control over both houses of Parliament, there’s a fairly good chance that the proposed bill could… Read More