Politics, Legal & Regulation

January 23, 2021 @ 4:39 pm By JD Alois  |  

The North American Securities Administrators Association (NASAA) is distributing a letter sent to the Biden Administration asking the new President to “pause on the further expansion and deregulation of the private offering marketplace.” This includes exemptions created by the JOBS Act – a bill signed… Read More

January 22, 2021 @ 4:10 pm By JD Alois  |  

The Securities and Exchange Commission has posted the agenda for the meeting of the Small Business Capital Formation Advisory Committee. According to a release, the Committee’s morning session will feature representatives from exchanges and platforms who will share some of the trends and dynamics they… Read More

January 22, 2021 @ 2:48 pm By JD Alois  |  

Earlier this week, Dr. Janet Yellen, former Chair of the US Federal Reserve and soon to be the Secretary of the Treasury, testified at a hearing before the Senate Finance Committee in regards to her nomination. In advance of the hearing, Dr. Yellen submitted an… Read More

January 22, 2021 @ 11:27 am By JD Alois  |  

Yesterday, Assistant to the President and Chief of Staff Ronald Klein distributed a Presidential Action by President Joe Biden that is poised to impact recent improvements to security crowdfunding including the Reg CF and Reg A+ exemption. Entitled Regulatory Freeze Pending Review, President Biden has… Read More

January 22, 2021 @ 8:00 am By Omar Faridi  |  

A recent report released by the Hong Kong Monetary Authority (HKMA) has outlined various case studies and insights from banking institutions that have implemented different technologies to improve the overall efficiency and effectiveness of their AML/CFT requirements. The HKMA’s report identifies key opportunities that regulatory technology… Read More

January 21, 2021 @ 3:38 pm By JD Alois  |  

President Joe Biden has selected Commissioner Allison Herren Lee as acting Chair of the Securities and Exchange Commission (SEC). Commissioner Lee will lead the SEC until Gary Gensler is approved by the US Senate. Upon being selected, Acting Chair Lee issued the following statement: “It’s… Read More

January 19, 2021 @ 7:17 pm By Omar Faridi  |  

A digital currency trader is reportedly seeking $250,000 in compensation from Westpac and ANZ. The crypto investor claims that there’s systematic discrimination being carried out by some of Australia’s largest banks, which has allegedly cost him his once highly-profitable business. Allan Flynn has initiated proceedings… Read More

January 19, 2021 @ 3:06 pm By JD Alois  |  

Gibraltar, an early entrant in the digital asset ecosystem, says it is adding to its already regulated digital ledger technology (DLT) framework with the development of a “10th Core Principal” for digital asset exchanges. A “Market Integrity working group” has been created to ensure that… Read More

January 19, 2021 @ 2:11 pm By JD Alois  |  

Last week, Christine Lagarde, the President of the European Central Bank (ECB) commented on the need to regulate Bitcoin on a global level last week during a virtual event hosted by Reuters. Speaking at the Reuters Next conference, Lagarde pointed to the “funny business” affiliated… Read More

January 19, 2021 @ 12:16 pm By Steven Knipfelberg  |  

  While recent headlines may be focused on the meteoric rise of Bitcoin, another disruptive technology derived from the famed cryptocurrency may have even more profound implications for the future: blockchain-based “smart contracts.” A wide variety of companies are already experimenting with the ability of… Read More

January 18, 2021 @ 3:33 pm By Omar Faridi  |  

John E. Deaton, a lawyer focused on the blockchain and cryptocurrency sector (and other societal/legal issues), notes that the US Securities and Exchange Commission (SEC) was warned that investors could potentially lose billions, considering “the magnitude of an SEC enforcement action” against Ripple’s XRP, which… Read More

January 18, 2021 @ 10:40 am By JD Alois  |  

Gary Gensler, the former Commodities Futures Trading Commissioner Chair, has been selected by President-elect Joe Biden to helm the Securities and Exchange Commission (SEC). Gensler previously led the CFTC during the Obama administration. Prior to the CFTC, Gensler spent 18 years at Goldman Sachs. He is… Read More

January 18, 2021 @ 9:02 am By JD Alois  |  

Following a call for input on the consumer investment market that closed to comments last month, the UK Financial Conduct Authority has issued a report on how the regulator “works to protect consumers from investment harm” citing activity during the first 10 months of 2020…. Read More

January 16, 2021 @ 10:39 pm By Omar Faridi  |  

The Fintech Alliance in the Philippines, which aims to support the nation’s economic and social development goals, has teamed up with 43 other private business organizations in the country in order to express their support for the Corporate Recovery and Tax Incentives for Enterprises (CREATE)… Read More

January 15, 2021 @ 7:31 pm By JD Alois  |  

Earlier today, the Securities and Exchange Commission (SEC) posted a settlement pertaining to Wireline and a SAFT offering that took place in 2018. According to the complaint, the SEC states that: “… between January and September 2018, Wireline, an early-stage project focused on the development… Read More

January 15, 2021 @ 2:26 pm By JD Alois  |  

Representative Maxine Waters, Chairwoman of the House Committee on Financial Services, has sent a letter to President-elect Joe Biden asking him to “temporarily suspend any midnight regulations” promulgated by the Trump administration. This includes any rules that have not yet been published in the Federal… Read More

January 14, 2021 @ 3:54 pm By JD Alois  |  

The European Central Bank (ECB) reports that it has received 8221 comments regarding its consultation on a digital euro or central bank digital currency (CBDC).  Chief among the comments are privacy concerns as government ledgers for a digital currency raises serious questions about data control…. Read More

January 14, 2021 @ 2:58 pm By JD Alois  |  

After a long delay, final rules approved by the Securities and Exchange Commission (SEC) have made their way over to the Federal Register. By being published in the Federal Register, the clock begins ticking as to when the new rules become available to use by… Read More

January 13, 2021 @ 11:35 pm By Omar Faridi  |  

Bank of Lithuania, the nation’s central bank, has revealed that the number and value of payments completed via its platform, CENTROlink, had doubled last year, while instant payments surged by around four times (when compared to previous years). Keeping these developments in mind, Bank of… Read More

January 13, 2021 @ 9:43 pm By Omar Faridi  |  

Touch ‘n Go (TNG) Group’s subsidiary TNG Digital Sdn Bhd (TNGD) is reportedly one of the first digital wallet providers to be given conditional approval to serve as a Recognized Market Operator (RMO) by the Securities Commission of Malaysia (SC). TNG’s management noted that they’re… Read More