Politics, Legal & Regulation

February 13, 2020 @ 6:45 am By JD Alois  |  

The Board of the International Organization of Securities Commissions (IOSCO) has published a report on the issues and risks associated with crypto-asset trading platforms. IOSCO is an international organization that represents most of the regulated securities exchanges around the world.  The agency works closely with… Read More

February 13, 2020 @ 5:57 am By Omar Faridi  |  

The Australian government passed the Treasury Laws Amendment (2018 Measures No. 2) Bill 2019 on February 10, 2020. The bill has been introduced in order to extend the overall scope and time period Fintech firms may spend on the country’s current framework. Updating the existing… Read More

February 12, 2020 @ 11:17 am By JD Alois  |  

The Commodity Futures Trading Commission (CFTC) has filed a civil enforcement action in the U.S. District Court for the Southern District of New York against defendants Q3 Holdings, LLC and Q3 I, LP and their principal, Michael Ackerman. As was previously reported, the Securities and… Read More

February 12, 2020 @ 10:54 am By Omar Faridi  |  

Joshua B. Sterling, the Commodity Futures Trading Commission (CFTC), Director of the Division of Swap Dealer and Intermediary Oversight (Division), or DSIO, confirmed on February 10, 2020, that it recognizes that the US Commodities and Futures Commission (CFTC)-licensed companies are “often at the forefront in… Read More

February 12, 2020 @ 3:38 am By JD Alois  |  

The Securities and Exchange Commission (SEC) has filed charges against Michael W. Ackerman, of Sheffield Lake, Ohio, who allegedly organized a cryptocurrency trading scheme that raised approximately $33 million. The SEC said that about 150 investors including many physicians, lost money in the alleged fraud…. Read More

February 11, 2020 @ 12:00 pm By JD Alois  |  

Chairman of the Board of Governors of the Federal Reserve System, Jerome Powell, is on Capital Hill today testifying in front of the House Financial Services Committee. During the Q&A portion of the Hearing, Powell was asked specifically about Central Bank Digital Currencies (CBDCs) and… Read More

February 11, 2020 @ 11:03 am By JD Alois  |  

This week the White House, via the Office of Management and Budget (OMB), released the proposed federal budget for 2021. According to the White House, the plan seeks to balance the budget within 15 years by proposing $4.6 trillion in deficit reduction. Debt, as a… Read More

February 10, 2020 @ 8:00 am By JD Alois  |  

Crowdfund Capital Advisors (CCA) and its co-founders have been a leading voice advocating on behalf of online capital formation since Sherwood “Woodie” Neiss and Jason Best helped to create the language of the JOBS Act law that legalized securities crowdfunding in the United States. Neiss… Read More

February 9, 2020 @ 3:08 am By Omar Faridi  |  

BaFin, Germany’s financial supervisory authority, recently clarified how the leading European nation’s new crypto-asset custody law would apply to companies that are operating outside of the country, yet still serve local markets. BaFin’s latest guidance, published last month, notes that firms which are currently custodying… Read More

February 8, 2020 @ 6:01 pm By JD Alois  |  

Fed Governor Lael Brainard delivered a speech in California this past week discussing the “Digitalization of Payments and Currency.” Brainard has been at the forefront in discussing Fintech innovation providing unique perspective from her perch at the Federal Reserve. She said that BigTechs and Fintechs… Read More

February 7, 2020 @ 11:56 am By JD Alois  |  

Yesterday, SEC Commissioner Hester Peirce proposed a new rule for a Safe Harbor for tokens that will not be treated as securities. As Crowdfund Insider has previously reported, the proposed Rule 195 will allow an issuer up to three years to prove the digital asset… Read More

February 7, 2020 @ 8:51 am By Omar Faridi  |  

The UK’s financial regulator, the Financial Conduct Authority (FCA), is reportedly planning to recruit a specialist with a professional background in blockchain and cryptocurrency-related businesses. The FCA says it wants to hire an intelligence associate with experience working in the digital asset industry, in order… Read More

February 7, 2020 @ 7:55 am By JD Alois  |  

Yesterday, Crowdfund Insider reported on a speech delivered by SEC Commissioner Hester Peirce that outlined a safe harbor for digital assets that may not be regulated as securities. In brief, Rule 195, proposed that a token issuer has three years for a digital asset to… Read More

February 7, 2020 @ 6:45 am By Omar Faridi  |  

The Italian Ministry of Economy and Finance has reportedly begun a consultation on a Draft Decree on the evaluation criteria to test out Fintech projects in a sandbox environment. The ministry has appointed a Fintech Committee, which will be exploring various financial technology projects. The… Read More

February 6, 2020 @ 2:59 pm By JD Alois  |  

As details continue to circulate regarding the newly proposed digital asset safe harbor for non-security tokens, industry insiders are welcoming the news. Revealed by SEC Commissioner Hester Peirce today, the proposal could “create a path for digital token innovators.” Amy Davine Kim, Chief Policy Officer… Read More

February 6, 2020 @ 1:59 pm By JD Alois  |  

Today, in a speech delivered at an event in Chicago, SEC Commissioner Peirce presented a new proposal in the treatment of digital assets that may not be treated as securities perhaps representing a dramatic shift in the US token offering marketplace. In the US, pretty… Read More

February 6, 2020 @ 12:35 pm By JD Alois  |  

SEC Commissioner Peirce has proposed new rules regarding digital assets that may not be securities upon issuance. The proposal was revealed at a speech in Chicago today. As we understand it, Peirce’s proposal, Rule 195, will “set a course for compliant blockchain projects to innovate… Read More

February 6, 2020 @ 10:13 am By JD Alois  |  

This week, the SEC Small Business Capital Formation Advisory Committee met at the Commission to discuss access to capital around the country. Multiple presentations were delivered on the state of access to capital including one by the Office of the Advocate for Small Business as… Read More

February 5, 2020 @ 11:00 pm By Omar Faridi  |  

Nearly 16 months after winding down its business operations in India, digital asset exchange Zebpay is reportedly set to resume offering services in the country. Zebpay was one of the most popular crypto exchanges in India. However, it had to shut down because of a… Read More

February 5, 2020 @ 10:36 pm By JD Alois  |  

The Wall Street Blockchain Alliance (WSBA) has posted a letter addressed to the US Internal Revenue Service (IRS) asking the agency to clarify its stance on crypto and taxation. In the past, the IRS has issued several statements and warnings to holders of cryptocurrency with… Read More