Politics, Legal & Regulation

April 16, 2019 @ 4:38 pm By JD Alois  |  

While there have only been a few publicly announced recission requirements for initial coin offerings (ICOs) that have since been deemed unregistered securities, there are apparently quite a few more that have been giving money back under the radar. The Securities and Exchange Commission (SEC)… Read More

April 16, 2019 @ 2:10 pm By Cali Haan  |  

A sergeant from the Silicon Valley-based Regional Enforcement Allied Computer Team (REACT) says 5 hackers, aged 18-26, who collectively stole $50 million USD in cryptocurrencies by taking over victims phones were arrested in 2018, The New York Post reports. Two of the more infamous alleged… Read More

April 16, 2019 @ 1:08 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) and Financial Industry Regulatory Authority (FINRA) have scheduled their 2019 National Compliance Outreach Program for Broker-Dealers. The event, taking place in Chicago, is designed to provide an open forum for regulators and industry professionals to discuss topics such as… Read More

April 16, 2019 @ 12:48 pm By Cali Haan  |  

France’s Finance and Economy minister, Bruno Le Maire, has told the EU that it should use rules established by France to govern the region’s cryptocurrency and digital asset sector as inspiration for EU and regional regulations. Le Maire told attendees at a recent “blockchain tech”… Read More

April 15, 2019 @ 10:14 am By JD Alois  |  

The UK Crowdfunding Association (UKCFA) has scheduled a meeting with the Financial Conduct Authority (FCA) as the group is concerned over the “quality of supervision,” according to a report in the Times. The UKCFA is an association that represents the leading equity crowdfunding platforms in… Read More

April 14, 2019 @ 5:58 pm By JD Alois  |  

The Financial Stability Board (FSB) has published a “Crypto Assets Regulators Directory.” The document was recently distributed at the April G20 Finance Ministers and Central Bank Governors meeting. The FSB was founded in 2008 as an international body that monitors the global financial system. Part… Read More

April 12, 2019 @ 3:57 pm By JD Alois  |  

Online lender Avant is said to be in “late-stage discussions” concerning the approval of an Office of Comptroller of the Currency (OCC) Fintech charter. The news was apparently revealed on Politico Pro. Big scoop by @vtg2 on @Avant_US in late stage discussions re: @USOCC #FinTech… Read More

April 11, 2019 @ 10:10 pm By Cali Haan  |  

“Vetted” retail investors are lining up to buy a revamped version of ICOs (initial coin offerings) called IEOs (initial exchange offerings), digital tokens “curated” by trading platforms, Bloomberg reports. After a slew of bad press and bad results over the past few years, ICOs have… Read More

April 11, 2019 @ 3:14 pm By Cali Haan  |  

Two unnamed individuals were charged with fraud April 10th for their involvement with OneCoin, a multibillion-dollar global cryptocurrency pyramid scheme of  started by a brother and sister team in Bulgaria. Business Times reports that an investigation by the Singapore Commercial Affairs Department and the Singapore Police… Read More

April 11, 2019 @ 3:04 pm By JD Alois  |  

The Cambridge Centre for Alternative Finance (CCAF), the leading research group on all things Fintech, has launched a new Fintech collaboration network in partnership with the United Nations Economic Commission for Latin America and the Caribbean (UNECLAC). According to a release by the UK government,… Read More

April 11, 2019 @ 2:16 pm By Cali Haan  |  

The New York State Department of Financial Services (NYDFS) has denied Seattle-based cryptocurrency trading platform Bittrex’s application for a BitLicense to offer the trading of cryptocurrencies and tokens in the state. The decision was provided in a letter to Bittrex CEO Bill Shihara dated April… Read More

April 11, 2019 @ 11:26 am By Cali Haan  |  

A man who formerly managed institutional sales and trading for the Kraken cryptocurrency exchange is suing the firm for more than $900 000 USD in commissions he claims are outstanding, Bloomberg reports. The suit filed in New York on April 4th by the Silver-Miller Law… Read More

April 11, 2019 @ 8:23 am By Cali Haan  |  

A 24-year-old hacker who used malware-disseminating ads on porn sites to lock millions of computers and extort cryptocurrency ransoms received a six-year prison sentence this week in London, The Register reports. According to The Birmingham Mail, the accused, Zain Qaiser, “worked for an international Russian… Read More

April 10, 2019 @ 2:59 pm By Cali Haan  |  

The Texas State Securities Board (TSSB) has issued an emergency cease and desist order against FxBitGlobe, a company the Board claims is “trading mostly in falsehoods” for pervading an unlikely cryptocurrency investment program that has pyramid-scheme features. According to the TSSB, FxBitGlobe, “claims to be… Read More

April 9, 2019 @ 7:49 pm By JD Alois  |  

Are you an informed investor? That’s what the North American Association of Securities Administrators (NASAA) wants to know when it comes to Robo-Advisors. The lobbying group has just posted an investor advisory cautioning individuals about the Fintech sector of Robo-Advisors. NASAA represents state and provincial… Read More

April 9, 2019 @ 3:51 pm By JD Alois  |  

The House of Representatives has introduced the Token Taxonomy Act of 2019 (H.R. 2144) legislation – a bill that is designed to enable a digital asset that is a utility token unregulated by the Securities and Exchange Commission (SEC). The bill states: “… to exclude… Read More

April 8, 2019 @ 11:07 pm By Cali Haan  |  

Sarah John, Chief Cashier at the Bank of England told Currency Conference 2019 attendees in Dubai this week that use of cash is declining in the UK but that bank notes are not yet passé. John cited statistics showing that cash use dropped from 61%… Read More

April 8, 2019 @ 12:00 pm By JD Alois  |  

Last week, the Securities and Exchange Commission (SEC) moved forward on clarifying their position regarding digital assets. First, a No-Action Letter (NAL) was released pertaining to the issuance of a token by TurnKey Jet. In a tightly defined issuance, Turnkey was deemed not to be… Read More

April 5, 2019 @ 11:35 am By JD Alois  |  

Vanbex, a blockchain based firm based in Vancouver, has posted a statement defending itself regarding allegations made by the British Columbia Director of Civil Forfeiture and covered in the media. The original report, covered by the Vancouver Sun, revealed strong statements alleging a “$30-million cryptocurrency… Read More

April 5, 2019 @ 7:47 am By Cali Haan  |  

An alleged drug dealer from the Toronto suburb of Mississauga, who pleaded guilty in December to using Bitcoins to buy drugs and a gun on the Dark Net, has had the bulk of his Bitcoins seized this week by a Toronto court, The Toronto Star… Read More