Politics, Legal & Regulation

August 5, 2019 @ 2:04 pm By JD Alois  |  

The US Securities and Exchange Commission (SEC) is moving into blockchain technology, so it seems. According to a post on the Federal Business Opportunities website, the SEC is looking to acquire off the shelf technology to better monitor digital assets including compliance and risk and… Read More

August 4, 2019 @ 9:00 pm By Charles S. Kaufman, Michael B. Saryan, and Jor Law  |  

Raising capital by issuing tokens that rely on distributed ledger or blockchain technology has been clouded by regulatory uncertainty since the practice emerged during the initial coin offering or “ICO” boom. As entrepreneurs seek to use blockchain technology to build new networks and tokens, this… Read More

August 4, 2019 @ 2:38 pm By JD Alois  |  

Published in an Op-Ed article on Fox News last week, incoming Commodity Futures Trading Commission Chair Dr. Heath P. Tarbert commented on his vision for the regulatory agency. Tarbert replaces the wildly popular J. Christopher Giancarlo who was dubbed Crypto Dad by blockchain industry supporters…. Read More

August 3, 2019 @ 5:14 pm By JD Alois  |  

In May of 2019, the International Organization of Securities Commissions (IOSCO) kicked off a consultation on “crypto-asset trading platforms” or “CTPs.” The goal of the Consultation is to assist IOSCO members in evaluating the issues and risks relating to trading in digital assets and the… Read More

August 3, 2019 @ 4:37 pm By JD Alois  |  

Both the US House and Senate are out of session now as the pols exit the sweltering heat of Washington, DC, during the month August for a summer recess. Congress returns the following month to continue its work and the House Financial Services Committee, under… Read More

August 3, 2019 @ 9:45 am By Cali Haan  |  

Lawyers for Bitfinex, iFinex, and Tether, cryptocurrency companies currently under investigation for fraud in New York sent a letter to the presiding judging promising to appeal if the case against them is not dismissed. They also asked Judge Joel M Cohen to preclude them from having… Read More

August 2, 2019 @ 6:09 pm By JD Alois  |  

The Commodity Futures Trading Commission (CFTC) has announced that Daniel Gorfine, the agency’s first Chief Innovation Officer and Director of LabCFTC, will depart in mid-August. Gorfine also served as the Designated Federal Officer of the CFTC’s Technology Advisory Committee. The announcement comes following the exit… Read More

August 2, 2019 @ 5:39 pm By Cali Haan  |  

The CEO of a crypto derivatives trading platform called LedgerX issued a “profanity-laced” tirade on Twitter Thursday after the Commodity Futures Trading Commission contradicted the company’s widely-touted announcement that it had become the first crypto-derivatives platform in the US to launch physically-settled bitcoin futures contracts to… Read More

August 2, 2019 @ 8:33 am By JD Alois  |  

Fintech startup Aximetria GmbH has become a member of the Swiss Financial Services Standards Association (Verein zur Qualitätssicherung von Finanzdienstleistungen or VQF) in a step towards providing financial services in Switzerland. VQF is a Self Regulatory Organization (SRO) and is officially recognized by the Swiss… Read More

August 1, 2019 @ 4:44 pm By Michael Ou  |  

“Regulation” is not often a word associated with “benefits” in blockchain and cryptocurrency circles. Indeed, many governments have been sharply criticised following the roll-out of regulatory guidelines addressing the flourishing blockchain industry. Some even suggest that it is a lack of regulation which has allowed… Read More

August 1, 2019 @ 12:06 pm By JD Alois  |  

SEC Commissioner  Hester Peirce is in Singapore, a noted Asian Fintech hub, talking about digital assets. Peirce, speaking at the SUSS [Singapore University of Social Sciences] Convergence Forum, addressed the audience about innovation – something that frequently makes regulators nervous. Change is hard. Alluding to… Read More

August 1, 2019 @ 3:58 am By Cali Haan  |  

A judge in Philadelphia has ruled that a class-action suit brought against Mark Karpeles, the reviled former CEO of the Mt Gox bitcoin exchange, can proceed in Pennsylvania. Karpeles had asked for dismissal claiming Pennsylvania courts did not have jurisdiction, but the judge determined that… Read More

July 31, 2019 @ 11:18 pm By Cali Haan  |  

Lawyers for the crypto exchange Bitfinex (and associated companies iFinex and Tether) have sent a letter to the judge presiding over anti-fraud proceedings against them in New York threatening to appeal if the judge does not dismiss the case against them. The letter from Bitfinex… Read More

July 31, 2019 @ 6:23 pm By Cali Haan  |  

Lawyers and representatives from auditing firm EY and various other personnel will be paid $1.6 million USD for their work dismantling QuadrigaCX, a Vancouver-based, Nova Scotia-administered crypto exchange that failed in January after the death of its founder in December. According to the CBC, presiding… Read More

July 31, 2019 @ 8:52 am By JD Alois  |  

FCA: “any token that is not a security token, or an e-money token is an unregulated token.” The UK Financial Conduct Authority (FCA) has published its much anticipated final guidance on cryptoassets following a feedback period on prior commentary. The FCA has now established which… Read More

July 30, 2019 @ 11:32 pm By Cali Haan  |  

Tenacious and liquid crypto exchange Bitfinex and affiliate companies had hoped that a fraud case brought against them by the New York Attorney General (NYAG) would be wrapped up this week. Instead, a formerly sympathetic judge has granted an extension, The Block reports. Bitfinex, iFinex, and… Read More

July 30, 2019 @ 1:28 pm By JD Alois  |  

The US Senate Banking Committee held a hearing today entitled Examining Regulatory Frameworks for Digital Currencies and Blockchain. The Hearing is part of an ongoing process of education and understanding regarding the emerging digital asset ecosystem and the technology that supports it. Earlier this month,… Read More

July 30, 2019 @ 8:40 am By JD Alois  |  

Ripple, one of the largest cryptocurrencies/blockchain platforms in the world, is asking Congress to be thoughtful in how they regulate digital assets going forward. In an Open Letter to Congress, Ripple management takes a very different approach in contrast to Facebook’s frontal assault with the… Read More

July 30, 2019 @ 1:53 am By Cali Haan  |  

A man who pleaded guilty in New York to distributing, “prolific quantities of powerful opioids,’ has also agreed to forfeit $4,156,198.18, “including the funds or currency in seven different Bitcoin wallet addresses.” The release regarding the plea and forfeiture from the Department of Justice (DOJ), U.S. Attorney’s… Read More

July 30, 2019 @ 1:01 am By Cali Haan  |  

A man at the centre of an extradition tug of war between the US, France and his home country, Russia, is now being sued for $100 million USD by the California Department of Justice (DOJ). Alexander Vinnick has been imprisoned in Greece since July 2017… Read More