Politics, Legal & Regulation

May 6, 2018 @ 2:42 pm By Cali Haan  |  

Ripple Labs, the company behind the cryptocurrency Ripple (XRP), are facing a class action lawsuit filed by an investor, Ryan Coffey, who alleges the company sold it’s cryptocurrency tokens to the public in violation of US securities laws. The filing also claims the company has… Read More

May 6, 2018 @ 9:09 am By JD Alois  |  

In a speech delivered by UK FCA Competition Director Mary Starks, the public official addressed the topics of blockchain technology and cryptocurrencies. Regarding blockchain or distributed ledger technology (DLT), Starks was more optimistic. Regarding cryptocurrencies, or “cryptoassets” as she labeled them, she was more circumspect…. Read More

May 5, 2018 @ 12:49 pm By JD Alois  |  

The Financial Conduct Authority (FCA) has published an interim report on UK mortgage market. According to the FCA, Mortgage debt accounts for over 80% of total UK household liabilities – so this is a significant sector of finance that has a profound impact on individuals. While… Read More

May 5, 2018 @ 9:49 am By Cali Haan  |  

Forbes has reported that sources close to Japan’s Financial Services Agency (JFSA) have confirmed that the agency is encouraging the country’s crypto exchanges to exclude anonymous cryptocurrencies Monero (XMR), Zcash (ZEC), and Dash (DASH) from trading on their exchanges. The suggestion comes as a number… Read More

May 4, 2018 @ 1:24 pm By JD Alois  |  

Commodity Futures and Trading Commission (CFTC) Commissioner Brian Quintenz commented on cryptocurrency enforcement actions this week. During a speech delivered to the FIA’s 40th Annual Law and Compliance Conference, Quintenz noted that the CFTC Crypto task force is coordinating with their counterparts at the Securities… Read More

May 4, 2018 @ 11:48 am By Cali Haan  |  

In what is being lauded as Scotland Yard’s first successful prosecution of cybercrime, a British hacker has been convicted of multiple charges related to the theft of millions of people’s personal data. Grant West, 26, was arrested in the first class section of a passenger… Read More

May 4, 2018 @ 9:59 am By Cali Haan  |  

In 1946, delegates from 25 countries met in Geneva to create globally consistent standards for the development of technology and an organization to govern those standards: the International Standards Organization, or ISO. At last year’s ISO blockchain meeting in Tokyo, the New York Time reports, China… Read More

May 3, 2018 @ 11:41 am By Erin Hobey  |  

Online P2P lender Lending Loop has partnered with the Ontario government to launch a pilot project that will provide $3M in loans over the next two years, according to the Globe and Mail. The article indicated that the Ontario government will boost Toronto-based Lending Loop’s… Read More

May 3, 2018 @ 9:58 am By JD Alois  |  

Earlier this week the Securities and Exchange Commission (SEC) Office of Small Business Policy held a Twitter chat on Tuesday entitled #SECcrowdfundchat. The lightly attended discussion was scheduled to help inform small businesses as to how they may legally raise growth capital. In the US today,… Read More

May 2, 2018 @ 11:40 am By JD Alois  |  

The Governor of the Bank of England, Mark Carney, has appointed Huw van Steenis as a Senior Adviser on the long-term future of the financial system. According to the Bank, van Steenis will work with colleagues from around the Bank to deepen its understanding of… Read More

May 2, 2018 @ 11:00 am By Dror Futter  |  

The US initial coin offering (ICO) market is the subject of a great deal of regulatory uncertainty resulting, in large part, from the absence of comprehensive guidance by the SEC.   The uncertainty has caused frustration for issuers and investors and has also been counter-productive… Read More

May 2, 2018 @ 10:50 am By JD Alois  |  

According to a WSJ report, regulators are engaged in a debate as to whether Ether and other cryptocurrencies are in fact securities. While Bitcoin has been more clearly defined as a commodity, the rest broader universe of cryptocurrencies remain in limbo. The advent of Ethereum… Read More

May 2, 2018 @ 9:30 am By Cali Haan  |  

In what is likely a combined attempt to sidestep US sanctions and compete with Middle East oil suppliers, Venezuela has offered India a 30% discount on crude oil if the country pays for the oil in El Petro, Venezuela’s controversial new cryptocurrency, says Business Standard. Venezuala… Read More

May 1, 2018 @ 9:11 am By JD Alois  |  

A Discussion with Malta Parliamentary Secretary for Financial Services, Digital Economy, and Innovation – Silvio Schembri Malta has quickly emerged as a popular location to set up blockchain based businesses. Globally, some countries have banned crypto operations, others have created rules by enforcement while most continue… Read More

May 1, 2018 @ 8:06 am By JD Alois  |  

The Australian Securities and Investment Commission (ASIC) has taken action to address misleading or deceptive conduct regarding initial coin offerings (ICOs). ASIC announced it was targeting the sale of digital tokens and is issuing inquiries to ICO issuers and their advisers where they identify conduct or… Read More

April 30, 2018 @ 9:29 pm By JD Alois  |  

Late week, Bermuda advanced legislation to regulate cryptocurrency and initial coin offerings. The country, like some others, sees opportunity in creating a regulated environment that encourages crypto companies to establish operations and invest. Around the same time, Binance, one of the largest cryptocurrency exchanges in… Read More

April 30, 2018 @ 1:54 pm By JD Alois  |  

Le Conseil d’etat announced this past week that French authorities have decided to dramatically drop the tax on cryptocurrency from 45% to 19%. While still considerable, this represents an important step by the French government in seeking to be more innovation friendly. The change in taxation was… Read More

April 30, 2018 @ 1:06 pm By Cali Haan  |  

The Asia Times has reported that Taiwan will introduce new rules for the regulation of crypto industries by November 2018. Taiwanese Justice Minister Chiu Tai-san announced the plans at an anti-money laundering conference hosted last week by the Taiwan Financial Services Coalition after the Coalition… Read More

April 30, 2018 @ 12:33 pm By JD Alois  |  

The Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) has published a consultation paper proposing a regulatory framework for digital assets. The document outlines rules for spot market activity, including exchanges and other intermediaries to be regulated by ADGM. “As the recognised… Read More

April 30, 2018 @ 5:21 am By JD Alois  |  

Innovate Finance has published a report addressing the UK Fintech sector and the need for qualified executives to staff this burgeoning sector of finance. The UK association that represents the Fintech industry states the failure to maintain a flexible immigration policy could hinder the UK and… Read More