Politics, Legal & Regulation

February 6, 2019 @ 10:02 am By JD Alois  |  

Yesterday, Crowdfund Insider covered the annual Deal report from Beauhurst. The research targeting equity investment in the UK provides a fascinating snapshot of the progress of capital formation for promising young firms in Great Britain. The authors note that while overall investment declined during 2018,… Read More

February 6, 2019 @ 8:38 am By JD Alois  |  

Just about every financial regulator has had their say about cryptocurrency and a recommended regulatory approach. While some have drawn a line in the sand, others continue to evaluate before crafting bright-line rules. Understandably, it has taken some time for policymakers to get up to… Read More

February 6, 2019 @ 1:16 am By Cali Haan  |  

20-year-old Dawson Bakies of Ohio has been charged with multiple counts of felony Identity Theft, Grand Larceny, Computer Tampering, Scheme to Defraud and other related felony and misdemeanor counts relating to alleged SIM-swap hacks on more than 50 victims across the US. The indictment of Bakies for… Read More

February 6, 2019 @ 12:15 am By David V Duccini  |  

There’s a Fintech revolution happening in Minnesota. Since passing its own version of intrastate crowdfunding legislation in 2015 and quietly opening its doors in 2016 the state has taken the regional lead in raising more money for more businesses under its “MNvest” exemption as well… Read More

February 4, 2019 @ 12:00 pm By Onki Kwan  |  

Kik Interactive Inc. (“Kik”), a company based in Canada, raised close to $100 million selling Kin tokens during the initial coin offering (ICO) boom of 2017, making it one of the most successful ICOs. It first sold tokens to accredited investors through a SAFT (Simple… Read More

February 4, 2019 @ 11:48 am By JD Alois  |  

A former Securities and Exchange Commission Senior Counsel, Philip Moustakis, has joined the law firm Seward & Kissel LLP to support the firm’s Blockchain and Cryptocurrency Group. Moustakis worked in the SEC’s New York Regional Office and pursued many different investigations during his tenure including charges… Read More

February 4, 2019 @ 10:20 am By JD Alois  |  

Cutting the Red Tape. We elect and appoint public officials to represent our best interests. Far too often, these policymakers take this mandate as a carte blanche to enact new laws and craft more rules. Unfortunately, this approach can be misguided as well-intentioned politicians and… Read More

February 3, 2019 @ 1:09 pm By Cali Haan  |  

An Italian court has ordered the owner of the BitGrail cryptocurrency exchange, Francesco Firano, to declare bankruptcy and forfeit assets so they can be used to reimburse investors harmed when Firano “lost” 17 million Nano tokens (worth $170 million), a post by affected investors claims…. Read More

February 3, 2019 @ 12:08 pm By Cali Haan  |  

Oakland, California resident Sandford Bemi Faison is being held on charges alleging he tried to buy a toxic chemical on the Dark Net in order to poison his estranged spouse, The Los Angeles Times reports. The intended victim is also the mother of the accused’s two… Read More

February 3, 2019 @ 10:53 am By Cali Haan  |  

Joel Ortiz, a 20-year-old California college student, has accepted a plea deal and has agreed to a sentence of 10 years for stealing $5 million in cryptocurrencies from victims he robbed via SIM-swap hack, Motherboard reports. Ortiz will be sentenced on March 14, and it… Read More

February 2, 2019 @ 7:12 am By Cali Haan  |  

The State of Florida has been granted the right to appeal Judge Theresa May Pooler’s dismissal of a case of alleged unlicensed money transmission brought against a LocalBitcoins trader called Michell Espinosa. In 2013, Espinosa became the focus of a sting operation for “operating an… Read More

February 1, 2019 @ 4:57 pm By JD Alois  |  

Earlier today, the Principality of Liechtenstein signed a declaration joining the European Blockchain Partnership (EBP). Liechtenstein is now the 28th European country in the Partnership. The EBP launched in April of 2018 when 21 EU member states, plus Norway, agreed to cooperate in the establishment of a… Read More

February 1, 2019 @ 11:23 am By JD Alois  |  

The Chamber of Digital Commerce is calling on the US to act when it comes to policy regarding blockchain (or distributed ledger technology – DLT) and digital assets. The Chamber has long been at the forefront of the policy debate when it comes to cryptocurrency… Read More

February 1, 2019 @ 2:18 am By JD Alois  |  

The Global Financial Innovation Network (GFIN) is now open for applications. GFIN is a group of 29 international organisations including the Financial Conduct Authority (FCA) as well as the US Consumer Financial Protection Bureau (CFPB), Monetary Authority of Singapore (MAS), Hong Kong Monetary Authority (HKMA) and… Read More

January 31, 2019 @ 8:52 pm By Scott Andersen  |  

On January 22, 2019, the Financial Industry Regulatory Authority (FINRA) released its examination priorities for 2019.  At the top of the list was online funding platform compliance with the securities laws. With an uptick in the offer and sale of securities offerings online with Rule… Read More

January 31, 2019 @ 8:15 pm By Cali Haan  |  

Citing “high risk,” “insufficient disclosure,” “no actual service” and token dump price plunges of 68% immediately after privately sold coins are introduced onto public exchanges, the Korean Government has decided to uphold strict regulation (reportedly a ban) on ICOs (initial coin offerings). The government made the decision… Read More

January 31, 2019 @ 7:14 pm By JD Alois  |  

Yesterday, the Cboe filed for a rule change pertaining to listing a Bitcoin-based Exchange Traded Fund (ETF). The filing comes following the Securities and Exchange Commission’s (SEC) ossification on the matter having. The SEC has already rejected multiple requests for a crypto ETF. Earlier this month,… Read More

January 31, 2019 @ 7:47 am By JD Alois  |  

The Securities Commission Malaysia (SC) has updated their “Guidelines on Recognized Markets” to facilitate the trading of digital assets. The Securities Commission Malaysia has a reputation as being forward thinking when it comes to innovative financial services and is recognized for its encouragement of Fintech in… Read More

January 30, 2019 @ 11:58 pm By JD Alois  |  

Yesterday, the US Senate Committee on Banking, Housing, and Urban Affairs outlined their top priorities for the 116th Congress. The Chairman of the Committee, Senator Mike Crapo, explained: “[we] will continue to identify and move bipartisan legislative solutions that promote economic growth; build a record for… Read More

January 30, 2019 @ 7:38 pm By Cali Haan  |  

The US House of Representatives has passed a bill requiring the Comptroller General of the US to study how cryptocurrencies and online marketplaces “are used to facilitate” human trafficking (sex trafficking) and drug trafficking. The bill garnered broad bi-partisan support. The purpose of the study is… Read More