Politics, Legal & Regulation

July 31, 2018 @ 3:18 pm By JD Alois  |  

Following the extensive report on Fintech published by the US Department of Treasury today, the Chairman of the Securities and Exchange Commission, Jay Clayton, issued a brief statement calling the document a valuable contribution to the SEC’s mission; Chairman Clayton stated; “Today, the Treasury Department… Read More

July 31, 2018 @ 2:33 pm By JD Alois  |  

Following a report on Fintech published by the US Department of Treasury that encouraged the Office of the Comptroller of the Currency (OCC) to move forward with Fintech Charters, the OCC announced it has begun accepting applications for “national bank charters from non-depository financial technology… Read More

July 31, 2018 @ 12:26 pm By JD Alois  |  

The US Department of the Treasury has published its long anticipated report on Fintech. This is the fourth in a series of reports emanating from Treasury that address emerging innovations in finance. Secretary Steven T. Mnuchin commented on the reports release stating “American innovation is… Read More

July 30, 2018 @ 3:41 pm By JD Alois  |  

The Chamber of Digital Commerce’s and their Token Alliance, an initiative of more than 350 blockchain and token experts from around the globe, has published a set of guidelines to help shape the responsible growth of the token and initial coin offering (ICO) markets. The document called Understanding Digital Tokens:… Read More

July 30, 2018 @ 11:00 am By Anthony Zeoli  |  

Earlier this month the House Financial Services Committee unveiled a new bill aimed at fostering increased private investment. The “JOBS and Investor Confidence Act of 2018,” as the bill is titles, is actually a compilation of 32 individual bills. While the complete list of the… Read More

July 29, 2018 @ 6:30 pm By JD Alois  |  

This past Friday, the UK Financial Conduct Authority (FCA) finally released their review of the crowdfunding industry regulations. While the investment crowdfunding sector (equity crowdfunding) came away mostly unscathed the loan based sector (or peer to peer lending) took a bit of a lashing. The… Read More

July 29, 2018 @ 3:29 pm By JD Alois  |  

The US Chamber of Commerce is a powerful association and lobbying group in Washington, DC. They represent over 3 million businesses in the US from the really big ones to the corner shops. And as we all know, small business is the life blood of… Read More

July 27, 2018 @ 11:45 am By JD Alois  |  

Investment Crowdfunding Rules Deemed Satisfactory. The UK Financial Conduct Authority (FCA) has finally released its long awaited post-implementation review of crowdfunding regulation. As has been widely rumored for quite some time, the FCA is looking to adjust rules governing loan based crowdfunding, also labeled peer… Read More

July 26, 2018 @ 10:33 pm By JD Alois  |  

The Winkelvoss Bitcoin Trust ETF was denied the ability to publicly trade today by the Securities and Exchange Commission (SEC). The order filed by the SEC was part of an ongoing saga that stems from way back in 2016 when Bats BZX Exchange requested a… Read More

July 26, 2018 @ 5:48 pm By JD Alois  |  

Commissioner Hester Peirce has slammed the Securities and Exchange Commission’s decision to deny trading of the Winklevoss Bitcoin Trust on Bats BZX Exchange in a public statement. Peirce stated; “I am concerned that the Commission’s approach undermines investor protection by precluding greater institutionalization of the… Read More

July 26, 2018 @ 5:30 pm By JD Alois  |  

Yesterday, J. Christopher Giancarlo, Chairman of the Commodity Futures Trading Commission (CFTC), spent some time on Capitol Hill testifying in front of the House Committee on Agriculture. While Giancarlo’s prepared remarks, and ensuing comments driven by questions from the Committee, covered a wide range of… Read More

July 26, 2018 @ 12:32 pm By JD Alois  |  

There is a new bill that has been introduced into the House Financial Services Committee that is targeting “virtual currencies” and terrorism. Sponsored by Representative Ed Perlmutter, HR 6411 or the “FinCEN Improvement Act of 2018” appears to expand the reach of FinCEN which is the… Read More

July 25, 2018 @ 7:37 pm By Samuel Guzik  |  

  Often repeated, but not always followed, is the advice: follow the money. Sometimes basic problems – and their solutions – are more readily understood (and solved) with this simple mantra. Effective capital markets are no exception. They demand faithful adherence to this principle. Lose… Read More

July 25, 2018 @ 3:03 pm By JD Alois  |  

Jon Montroll, also known as “Ukyo” – former operated of two crypto businesses WeExchange and Bitfiunder, pled guilty to securities fraud and obstruction of justice charges leveled against Montroll in New York Federal Court in New York this week. Montroll launched Bitfunder in 2012 where… Read More

July 24, 2018 @ 12:11 pm By JD Alois  |  

Multi-year offering fraud raised at least $27.4 million from over 100 investors The Fyre Festival was billed as a super luxe musical festival to be held in the Exumas (part of the Bahamas) populated by models and the super cool. Celebrities like Bella Hadid, Kendall… Read More

July 23, 2018 @ 5:03 pm By JD Alois  |  

In a letter forwarded to Securities and Exchange Commission (SEC) Chairman Jay Clayton, a group of Fintech leaders demanded the Commission to increase Regulation Crowdfunding (Reg CF) from the current $1.07 million max amount to $20 million – a substantial increase to current rules. The… Read More

July 23, 2018 @ 1:01 pm By JD Alois  |  

  Earlier this month, CI reported about a gathering taking place in Barbados that incorporated a grouping of emerging security token firms. The goal of this meeting was to attempt and establish a standard by which securities could be offered on blockchain thus reducing sector… Read More

July 23, 2018 @ 9:01 am By Cali Haan  |  

A man accused of using a digital token offering to defraud investors had his computers brought before him in a Quebec courtroom earlier this month and was forced by the presiding judge to hand over 420 bitcoins, Radio Canada reports. Dominic Lacroix planned his “Plexcoin”… Read More

July 22, 2018 @ 5:03 pm By Alexander Dunaev  |  

With tech titans the most valuable companies on the planet, the notion of self-regulation is no longer appropriate or fit for purpose. Is now the time for governments to step in to protect consumers and ensure a more competitive environment? The role of the technology… Read More

July 22, 2018 @ 4:18 pm By JD Alois  |  

  A report in Ibena from last week indicates that the US government is confiscating Bitcoins held by Iranians and the confiscation is ongoing. According to Sepehr Mohammadi from the Iranian Blockchain Community, the US has seized 500 bitcoins or more. In May of this year,… Read More