Politics, Legal & Regulation

March 16, 2019 @ 9:31 am By Cali Haan  |  

An 18-year-old young man in Japan has been turned over to prosecutors to face allegations he hacked 15 million yen ($134 ooo USD) worth of Mona cryptocurrency from a “digital currency storage website,” Japan Today reports. Police claim this is the first time charges have… Read More

March 15, 2019 @ 12:35 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has scheduled a public forum focusing on distributed ledger technology (DLT or blockchain) and digital assets (or crypto assets). Topics will include initial coin offerings (ICOs), digital asset platforms, DLT innovations, and how these impact investors and the markets…. Read More

March 15, 2019 @ 7:49 am By JD Alois  |  

The Swiss Financial Market Supervisory Authority (FINMA) has published a set of adjustments regarding their policy for their Fintech License and Sandbox structure. In June of 2018, the Swiss parliament introduced a new licensing category for Fintech companies. The following August FINMA launched a consultation… Read More

March 14, 2019 @ 5:43 pm By JD Alois  |  

Last week, a committee at the Israel Securities Authority (ISA) investigating the applicability of regulation pertaining to initial coin offerings (ICOs) and digital assets submitted their final report. The Committee was first established in August of 2017 during the height of the ICO boom. The… Read More

March 14, 2019 @ 10:00 am By Erin Hobey  |  

According to the Securities Commission Malaysia in conjunction with the release of its 2018 Annual Report, the Malaysian capital market continued to play a key role in financing the economy against a backdrop of challenging global market conditions. “Though occasionally tempered by uncertainties stemming from rising… Read More

March 14, 2019 @ 9:08 am By JD Alois  |  

Governor Jared Polis of Colorado signed the Colorado Digital Token Act into law last week. The legislation is designed to provide limited exemptions from the securities registration and securities broker-dealer and salesperson licensing requirements for persons dealing in digital tokens and cryptocurrencies. According to the… Read More

March 12, 2019 @ 9:00 pm By JD Alois  |  

Last week, the North American Securities Administrators Association (NASAA) issued their legislative agenda for the 116th Congress. Buried within their priorities were the Association’s concerns pertaining to emerging Fintech services. Fintech has the capacity to provide better services for both consumers and businesses – typically… Read More

March 12, 2019 @ 4:17 pm By Cali Haan  |  

One of crypto’s main use cases -anonymity- has taken a hit in the state of Texas this week. An untitled bill (4371), which will require all cryptocurrency transactions to be conducted using unnamed “varied identity digital currencies,” has been introduced into the Texas state legislature…. Read More

March 12, 2019 @ 3:09 pm By JD Alois  |  

Coincenter, a leading advocacy group for the cryptocurrency/virtual asset space, has shared a recent correspondence with SEC Chairman Jay Clayton. Chair Clayton responded last week to a letter originally sent last October by Congressman Ted Bud who was seeking additional clarity on crypto and its… Read More

March 11, 2019 @ 6:02 pm By JD Alois  |  

On Friday, the Manhattan U.S. Attorney, part of the Department of Justice, issued a statement regarding ongoing Ponzi scam OneCoin stating that alleged perpetrator Konstantin Ignatov had been arrested at the Los Angeles airport. Ignatov was hit with charges of wire fraud conspiracy regarding the… Read More

March 11, 2019 @ 3:02 pm By JD Alois  |  

The Malta Financial Services Authority (MFSA) has enlisted CipherTrace Compliance Monitoring to better manage operational risks regarding digital assets. The MFSA is implementing the CipherTrace tool which is designed to continuously rate the risks of cryptocurrency businesses to protect consumers, investors, and business partners. The… Read More

March 11, 2019 @ 11:32 am By JD Alois  |  

The Commodity Futures Trading Commission (CFTC) has hit Marshall Islands-registered 1pool Ltd and its CEO and owner Patrick Brunner with a $990,000 penalty for illegally offering retail commodity transactions that were margined in Bitcoin. Additionally, the CFTC sited the failure of the company to register… Read More

March 11, 2019 @ 9:07 am By JD Alois  |  

Digital challenger bank Revolut has received an apology of sorts as the Telegraph has issued a correction regarding an article where the broadsheet made allegations regarding compliance challenges. Crowdfund Insider referenced the Telegraph’s report in an article here. The Telegraph’s correction stated they had “wrongly… Read More

March 9, 2019 @ 2:03 pm By JD Alois  |  

The initial coin offering (ICO) / Security Token Offering (STO) continues to endure a period of regulatory uncertainty. As things stand right now, ICOs are securities. End of story. If you completed an ICO after the Securities and Exchange Commission (SEC) issued the DAO Report… Read More

March 9, 2019 @ 1:27 pm By JD Alois  |  

Last week, HR 1595 or the SAFEBanking Act was introduced into the House of Representatives. This legislation will seek to fix the problems associated with the banking industry and Cannabis based businesses. The bill is being sponsored by Colorado Representative Ed Perlmutter who harkens from… Read More

March 8, 2019 @ 1:05 am By Cali Haan  |  

The Financial Conduct Authority (FCA) of the United Kingdom has issued a warning against a Bulgarian firm, “…claiming to be an FCA-authorised firm offering cryptocurrencies to UK consumers.” The FSA says the company is illegal and has been soliciting UK investors via email containing various… Read More

March 8, 2019 @ 1:00 am By Cali Haan  |  

The French National Assembly’s Finance Committee has issued a report on cryptocurrency and blockchain sectors in the country. The report’s introduction is written by Committee president Eric Woerth, who urges the country to continue refining regulations governing the sector. He also argues against promoting cryptomining… Read More

March 7, 2019 @ 5:42 am By JD Alois  |  

The UK Financial Conduct Authority (FCA) has released two reports on cryptocurrency which were commissioned on behalf of the UK government. The FCA has previously published documents on the emerging “crypto-asset” sector as it seeks to better understand which digital assets should be regulated and… Read More

March 6, 2019 @ 11:35 pm By Cali Haan  |  

1Broker, a Marshall Islands-registered company with a CEO based in Austria, has announced it has settled lawsuits filed against it by the US Securities regulators, the SEC and CFTC: “We are pleased to let you know that we settled the two lawsuits without admitting or… Read More

March 5, 2019 @ 11:00 am By JD Alois  |  

A new report by the Cambridge Centre for Alternative Finance (CCAF) states that if properly regulated, Fintech can “extend the benefits of financial inclusion to millions of unbanked and underbanked people around the world.” Fintech has the potential to provide enormous benefit for the less… Read More