Politics, Legal & Regulation

May 30, 2018 @ 8:46 pm By Cali Haan  |  

  Cryptocurrency trading in economically beleaguered Zimbabwe has failed to resume despite a high court ruling striking down a ban imposed by the central bank on financial institutions prohibiting them from servicing cryptocurrency exchanges, CCN reports. CCN reported on May 24th that the Harare High… Read More

May 30, 2018 @ 5:02 pm By JD Alois  |  

The Securities and Exchange Commission Investor Advisory Committee (IAC) is holding its next meeting in Atlanta on June 13th. The meeting will coincide with an “Investor Town Hall” coordinated by the SEC Atlanta Office. While the IAC agenda appears to be fairly routine (see below),… Read More

May 30, 2018 @ 4:30 pm By Cali Haan  |  

In yet another blockchain news item emanating from China this week, multiple reports are sharing that China’s potential “president for life,” Xi Jinping, recently named blockchain as one of a triumvirate of new technologies (including IoT and AI) that will drive, “a new industrial revolution.”… Read More

May 30, 2018 @ 8:53 am By JD Alois  |  

Buried within the “Economic Growth, Regulatory Relief and Consumer Protection Act” that was signed into law last week, was an expansion of Regulation A or Reg + that it is popularly called. The securities exemption is now available to not just private companies but also… Read More

May 30, 2018 @ 7:49 am By JD Alois  |  

Titanium Blockchain (TBIS), founded by Michael Alan Stollery, aka Michael Stollaire, has issued an official statement regarding the enforcement action by the Securities and Exchange Commission (SEC) which froze all of the TBIS assets in a court ordered emergency action. TBIS raised approximately $21 million in… Read More

May 30, 2018 @ 7:29 am By Cali Haan  |  

Chinese tech behemoth TenCent is cooperating with tax authorities in the Shenzhen province to develop a blockchain-based and Big Dat-fed “intelligent tax” system.   Tencent last year joined Facebook, Google and Amazon as one of handful of companies on the globe to pass the $500 billion… Read More

May 29, 2018 @ 9:26 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has received a court approved emergency asset freeze and the appointment of a receiver for Titanium Blockchain Infrastructure Services (TBIS) pertaining to an initial coin offering (ICO). Between November 2017 through at least January 2018, the ICO succeeded in raising as… Read More

May 28, 2018 @ 7:11 pm By Therese Torris  |  

President Macron at Viva Tech, the “French CES” The question to ask about Viva Tech, the French Tech show taking place in Paris, May 24th to 26th, is not “Who goes there?” but rather “Who doesn’t?” In its third edition, Viva Tech, launched in 2016… Read More

May 25, 2018 @ 3:42 pm By JD Alois  |  

Last week, while New York City saw thousands of cryptocurrency enthusiasts discuss the benefits of digital assets and blockchain, a House Financial Services subcommittee reviewed initial coin offerings with the leaders of the Securities and Exchange Commission (SEC) Enforcement Division. The Congressional Hearing provided a… Read More

May 24, 2018 @ 1:56 pm By JD Alois  |  

Potential legislation is currently being circulated that may create a new Fintech Council to advocate on behalf of innovation in the financial services industry. The bill, entitled the “Financial Technology Act,” would mandate the creation of a “Federal Financial Technology Council.” (FFITC) As the language… Read More

May 24, 2018 @ 9:31 am By JD Alois  |  

The Monetary Authority of Singapore (MAS) has issued a warning to eight cryptocurrency exchanges operating in Singapore. The notice told the exchanges NOT to facilitate trading in digital tokens nor future contracts without the explicitly authorization by MAS. The warning targeted security tokens and it… Read More

May 24, 2018 @ 8:47 am By JD Alois  |  

Christopher Woolard, Executive Director of Strategy and Competition at the Financial Conduct Authority (FCA), delivered a speech today on the hot topic of cybersecurity, crime and financial services. Delivered at a “TechSprint” in London, Woolard said it was time to bring regulators and tech specialists… Read More

May 24, 2018 @ 6:58 am By Erin Hobey  |  

The Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) and the Astana Financial Service Authority of Astana International Financial Centre (AFSA-AIFC) have signed a Memorandum of Understanding (MoU) during the Annual Conference of the International Organisation of Securities Commissions (IOSCO) held in… Read More

May 23, 2018 @ 7:05 pm By JD Alois  |  

The Office of the Comptroller of the Currency (OCC) issued a Bulletin today encouraging banks to issue small loans to consumers. In past years, banks have shied away from providing credit that was deemed too high risk to pursue and too costly to originate. As… Read More

May 23, 2018 @ 4:28 pm By Cali Haan  |  

U.S. Securities and Exchange Commission Chairperson Jay Clayton told an audience in Washington Tuesday that companies seeking to raise funds via digital tokens in an Initial Coin Offering should be proactive in contacting the agency regarding compliance, Law360 reports. “We’re open for business,” said Clayton…. Read More

May 22, 2018 @ 11:25 pm By JD Alois  |  

Today, the US House of Representatives passed a bill that has become known as the Dodd Frank rollback as it seeks to offset much of the law that become emblematic for regulatory overreach that caused more harm than good. The   “Economic Growth, Regulatory Relief and… Read More

May 22, 2018 @ 1:49 pm By JD Alois  |  

Securities and Exchange Commission (SECO Chairman Jay Clayton has issued a comment on Operation Cryptosweep – a coordinated enforcement action launched by state and provincial regulators attacking fraudulent initial coin offerings. Clayton said the North American Securities Administrators Association members (NASAA) play an important role… Read More

May 22, 2018 @ 11:53 am By Erin Hobey  |  

P2P lender Faircent.com has received NBFC-P2P certification from the Reserve Bank of India (RBI), reportedly the first P2P lending platform in the country to receive the certificate of registration as an NBFC-P2P by the national regulator. Faircent.com anticipates that the RBI certification will help Faircent.com gain… Read More

May 22, 2018 @ 11:23 am By JD Alois  |  

A note by Law360 indicates that defendants Sohrab “Sam” Sharma and Robert Farkas, co-creators of Centra Tech and an affiliated initial coin offering (ICO), have pleaded not guilty in the US District Court Southern District of New York. The Centra Tech ICO reportedly raised over $32… Read More

May 22, 2018 @ 9:58 am By Cali Haan  |  

Multiple state securities regulators in the US revealed yesterday that they are taking part, along with 40 other North American state and provincial regulators, in a coordinated crackdown on fraudulent cryptocurrency projects. “The actions announced today are just the tip of the iceberg,” stated Joseph… Read More