Politics, Legal & Regulation

July 15, 2019 @ 1:34 pm By JD Alois  |  

Dr. Heath P. Tarbert was sworn in today as the 14th Chairman of the Commodity Futures Trading Commission (CFTC) replacing J. Christopher Giancarlo. Tarbert was nominated by President Trump for a term expiring on April 13, 2024. Tarbert picks up the baton from Giancarlo, a… Read More

July 14, 2019 @ 9:02 am By JD Alois  |  

Earlier this month as previously reported, the UK Financial Conduct Authority (FCA) proposed a ban on the sale of both derivatives and exchange-traded notes (ETNs) based on “certain types of cryptoassets.” The announcement of the proposed ban kicked off a consultation, embedded below, for feedback… Read More

July 13, 2019 @ 3:35 pm By Cali Haan  |  

Jon Montroll, operator of two online crypto investment schemes, WeExchange Australia and BitFunder, has been sentenced to 14 months in prison for fraud and obstruction of justice. Montroll, 38, of Saginaw, Texas, has also been ordered to pay restitution of $167, 480 USD and will… Read More

July 12, 2019 @ 10:48 am By JD Alois  |  

Crowdfund Insider has received multiple comments on President Trump’s latest policy by Twitter approach to governing the US and his thoughts on cryptocurrency. As was previously reported, President Trump is no fan of Facebook’s Libra, as well as other cryptos. Trump believes that Facebook needs… Read More

July 12, 2019 @ 7:58 am By Cali Haan  |  

Law professors from the University of Luxembourg, the University of New South Wales and the University of Hong Kong have produced a 29-page paper designed to assist lawmakers in what should continue to be their swift and serious response to Libra, the global payment system now… Read More

July 12, 2019 @ 7:45 am By JD Alois  |  

President Trump has shared his perspective on crypto, and, more specifically, Bitcoin and Facebook’s stablecoin Libra. In a series of tweets yesterday, Trump professed his commitment to a strong US dollar and his disdain for the virtual currencies. Trump said we only have one real… Read More

July 12, 2019 @ 7:14 am By Cali Haan  |  

The Massachusetts Securities Division of the Office of the Secretary of the Commonwealth Enforcement Section is seeking orders to force a 62-year-old woman in Florida to cease perpetuating a fraudulent cryptocurrency scheme operating in at least 6 American states. The agency is also asking that… Read More

July 11, 2019 @ 11:18 am By JD Alois  |  

In a case brought by the Commodity Futures Trading Commission (CFTC), two defendants, Morgan Hunt and Kim Hecroft, were ordered to pay almost $400,000 in penalties and restitution regarding Bitcoin-related fraud. The CFTC cautioned that the repayment of funds to victims may not result in… Read More

July 10, 2019 @ 3:19 pm By JD Alois  |  

The House Financial Services Committee welcomed Fed Chair Jerome Powell today to share his perspective on the state of the US economy and his opinion on the effectiveness of monetary policy. While Powell’s prepared remarks kicked off a bit of a rally on Wall Street… Read More

July 10, 2019 @ 1:00 am By Cali Haan  |  

The Attorney General of New York (NYAG) has submitted a memorandum in court documenting iFinex/Bitfinex/Tether’s “extensive ties to New York” and disputing the Seychelles-registered companies’ claims that New York authorities have no jurisdiction and that its fraud investigation is impeding business. iFinex and subsidiaries Tether… Read More

July 9, 2019 @ 10:59 pm By JD Alois  |  

Tomorrow, the Federal Reserve Chair Jerome Powell will spend a good amount of time in front of the House Financial Services Committee. The following day, Powell will experience a similar round of questions at the Senate Banking Committee. Powell is certain to endure a standard… Read More

July 9, 2019 @ 5:18 pm By Cali Haan  |  

The CEO of Facebook’s cryptocurrency project, David Marcus, has written to assure the powerful US House Financial Services Committee that Facebook is proceeding with caution as it works to launch Libra. Five members of the Committee, including its Chair, Maxine Waters, sent a letter to… Read More

July 9, 2019 @ 1:22 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has scheduled the next meeting of the Small Business Capital Formation Advisory Committee. The meeting will take place on August 13 at 9:30 a.m. CT, 10:30 a.m. ET, at Creighton University in Omaha, Nebraska. The meeting is open to… Read More

July 9, 2019 @ 12:18 pm By JD Alois  |  

Yesterday, Allison Herren Lee was officially sworn in as an SEC Commissioner. Lee was nominated by President Trump and confirmed by the US Senate in June. Lee fills a term that expires on June 5, 2022. SEC Chairman Jay Clayton commented on Lee joining the… Read More

July 8, 2019 @ 3:40 pm By JD Alois  |  

The Securities and Exchange Commission (SEC), Division of Trading and Markets, has joined with the Financial Industry Regulatory Authority (FINRA) in issuing a statement regarding the custody of digital assets and broker-dealers. Custody of digital assets is a pressing concern for industry participants. Similar to… Read More

July 6, 2019 @ 4:29 pm By Barry James  |  

As Fintech Challenges the World Order. We know how fundamentally the internet and the web have changed not just the world of work, business and commerce but all our lives and the way we live, around the world. It’s touched and changed just about everything… Read More

July 5, 2019 @ 11:06 am By JD Alois  |  

Earlier this week, President Donald Trump announced the selection of Judy Shelton as a nominee to join the Board of the Federal Reserve. Shelton, an economic advisor to President Trump and a Director at the European Bank for Reconstruction and Development, is widely known for… Read More

July 5, 2019 @ 7:14 am By JD Alois  |  

The Hong Kong Monetary Authority (HKMA) and Autorité de Contrôle Prudentiel et de Résolution (ACPR) in France have signed a Memorandum of Understanding (MoU) to “enhance collaboration between the two authorities in supporting Fintech innovation. The French ACPR is a supervisory authority attached to the… Read More

July 4, 2019 @ 7:04 pm By Cali Haan  |  

Three parties accused of soliciting Texas investors with fraudulent cryptocurrency offerings have received emergency cease and desist orders as part of Texas’ “second regulatory sweep of cryptocurrency investment offerings.” Like the first sweep, which began in December 2017, the second sweep has been launched, “in… Read More

July 4, 2019 @ 7:55 am By JD Alois  |  

The Hong Kong Monetary Authority (HKMA) has issued a statement on the launch off the Bank for International Settlements (BIS) Innovation Hub opening in Hong Kong. BIS announced on June 30th its intent to open several Fintech focused hubs with Hong Kong becoming the first…. Read More