Politics, Legal & Regulation

November 16, 2018 @ 3:58 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) issued a rare statement on the issuance of digital assets that are securities. The statement comes following the release of two initial coin offering (ICO) enforcement actions for issuers that raised money after the SEC published the landmark DAO… Read More

November 16, 2018 @ 3:24 pm By JD Alois  |  

Earlier today, CI reported on the first enforcement actions taken by the Securities and Exchange Commission (SEC) pertaining to post-DAO initial coin offerings (ICOs). The case is precedent setting and sets a clear path for enforcement officials to proceed with other ICO issuers who raised… Read More

November 16, 2018 @ 3:13 pm By Cali Haan  |  

The first person to be prosecuted in the US for ICO (initial coin offering) fraud has pleaded guilty to misleading 1000 investors, Bloomberg reports. On Thursday, Maksim Zaslavskiy, 39, admitted in a Brooklyn federal courtroom that he collected money for two ICOs: RECoin and Diamond… Read More

November 16, 2018 @ 12:04 pm By Cali Haan  |  

This has been a big week for digital asset / ICO law in America. Yesterday, Maksim Zaslavskiy pleaded guilty to fraud in a federal court in Brooklyn for selling the digital tokens RECoin and Diamond Reserve Coin, tokens he falsely claimed were backed by real-world… Read More

November 16, 2018 @ 11:35 am By JD Alois  |  

European Commission Vice-President Valdis Dombrovskis has issued a comment on the regulation of initial coin offerings (ICOs) and virtual currencies. The statement is part of an ongoing discussion within the European Parliament and the Commission. Dombrovskis is the Commissioner in charge of Financial Stability, Financial… Read More

November 15, 2018 @ 9:15 pm By JD Alois  |  

The Autorité des Marches Financiers (AMF) the regulator that has oversight of securities in France, has published a report on initial coin offerings. Entitled ICO Françaises: Un Nouveau Mode de Financement? – the document is a follow up to a year ago launch to the… Read More

November 15, 2018 @ 3:20 pm By JD Alois  |  

The Commodities Futures Trading Commission (CFTC) Enforcement Director James M. McDonald delivered a speech yesterday addressing current trends regarding enforcement actions and, of course, crypto and virtual currencies were on the list. Speaking at the NYU School of Law, McDonald said the Commission is adapting… Read More

November 15, 2018 @ 11:37 am By Cali Haan  |  

Fahmi Fadzil, a Malaysian MP and the Communications Director for the Malaysian centre-left coalition party PKR, has urged the government of Malaysia to establish proper regulation of cryptocurrencies before it approves “Harapan Coin- the world’s first crypto-politic ICO,”  The Star Online reports. Fahmi reportedly told reporters… Read More

November 15, 2018 @ 10:01 am By JD Alois  |  

After the first of the year, control of the House of Representatives will move over to the Democrat party following mid-term elections. While the Senate will remain in Republican control, the split Congress means agenda items will frequently be at odds. But in the final… Read More

November 15, 2018 @ 9:40 am By Cali Haan  |  

By a margin of one vote, President Hilda Heine of the Marshall Islands retained her job on Monday following a no-confidence vote initiated by the opposition, Nikkei Asian Review reports. A tie of 16 for and 16 against deprived the opposition of the 17 votes… Read More

November 14, 2018 @ 10:00 pm By Samuel Guzik  |  

SEC Regulation A (commonly referred to as Regulation A+) was implemented by the SEC in 2015 pursuant to major Congressional legislation, the Jumpstart Our Business Startups Act of 2012 (the JOBS Act). It allows companies to raise up to $50 million in a 12 month… Read More

November 14, 2018 @ 6:30 pm By Cali Haan  |  

After “throw(ing) its arms wide open” to the burgeoning crypto sector last year, the Isle of Man is now imposing stricter requirements on “convertible virtual currency” (CVC) businesses registered there. Namely, crypto businesses on the island will now be obliged to have two local “resident directors”… Read More

November 14, 2018 @ 10:30 am By JD Alois  |  

The Monetary Authority of Singapore (MAS) has proposed an expedited process for aspiring Fintechs participating in their regulatory Sandbox. First launched in 2016, the Singapore Fintech Sandbox seeks to foster a mutually beneficial relationship between innovator and regulator.  In an industry with profound compliance requirements, the regulator is exposed to entrepreneurs seeking to… Read More

November 13, 2018 @ 8:41 pm By Cali Haan  |  

A fake halal cryptocurrency pyramid scheme targeting Muslim investors in India has fallen apart in the Bitcoin bear market, in part due to scrutiny from regulators, Deccan Chronicle (DC) reports. Father-and-son team Syed Fareed and Syed Afaq Ahmed reportedly tapped a network of “ulemas” (Muslim… Read More

November 13, 2018 @ 5:20 pm By Cali Haan  |  

Because cryptocurrencies are volatile, are not accepted as legal tender anywhere in the world, are not handled by banks and can be transmitted anonymously, without new legislation, the State of Michigan will not be allowing candidates there to accept cryptocurrency campaign donations. These points were… Read More

November 13, 2018 @ 7:29 am By JD Alois  |  

The UK Department for International Trade (DIT) is out with a note this morning saying £109 million of foreign investment will create 359 new jobs as money goes into the high tech sector, including the important Fintech industry. DIT states that 11 different investments will… Read More

November 12, 2018 @ 11:23 pm By JD Alois  |  

The Thailand Securities and Exchange Commission (SEC) is expected to approve the first initial coin offering (ICO) portal at some point this month, according to a report in the Bangkok Post. The approval follows a royal decree from last May that stipulated that the Thai… Read More

November 11, 2018 @ 1:30 pm By Cali Haan  |  

A Swedish man has been sentenced to 6 years in prison for sending a “viable” mail bomb to the Lond0n-based cryptocurrency exchange Cryptopay after an exchange employee refused to change the man’s password. Jermu Michael Salonen, 43, received an additional six months detention for mailing… Read More

November 11, 2018 @ 11:52 am By JD Alois  |  

Singapore Exchange (SGX) and the Monetary Authority of Singapore (MAS) have announced a successful blockchain pilot of “Payment (DvP) capabilities for the settlement of tokenized assets across different blockchain platforms.” The two entities have a goal of simplifying back-office operations, post-trade processes while shortening trade settlement… Read More

November 10, 2018 @ 3:52 pm By Cali Haan  |  

Colorado Securities Commissioner Gerald Rome has ordered four more issuers of initial coin offerings to stop selling unregistered securities in the Western American state. The latest round of cease and desist orders brings the total number of ICOs now sanctioned by Colorado to 12. Bitcoin… Read More