Politics, Legal & Regulation

April 14, 2018 @ 1:28 pm By JD Alois  |  

Malta, a Mediterranean country that wants be known as Blockchain Island, has published a “Financial Instrument Test” as it seeks to clarify questions regarding initial coin offerings (ICOs) and when a digital asset is a security and when it is not. The Malta Financial Services… Read More

April 13, 2018 @ 4:41 pm By Cali Haan  |  

In mid-March, The Government of Australia published tax guidelines for citizens and businesses using cryptocurrencies to invest, make or receive payments. The document, “Tax treatment of cryptocurrencies,” is fairly readable and the compliance procedures outlined quite reasonable. In short: “Our view is that Bitcoin…is an… Read More

April 12, 2018 @ 4:37 pm By JD Alois  |  

SEC Commissioners Michael S. Piwowar and Hester M. Peirce have delivered a letter to Chairman Michael Crapo of the Senate Committee on Banking and Chairman Jeb Hensarling of the House Financial Services Committee pertaining to a legislative push to increase the cap on Reg A+… Read More

April 11, 2018 @ 9:20 pm By Cali Haan  |  

On Tuesday, April 10th, 22 European countries signed an declaration vowing to cooperate as partners in the development and deployment of blockchain tech across European jurisdictions. According to the declaration, “Cooperation on a European Blockchain Partnership,” earnest efforts to “reaffirm” Europe’s “leading role” globally in blockchain… Read More

April 11, 2018 @ 3:53 pm By JD Alois  |  

Securities and Exchange Commission Chair Jay Clayton re-affirmed his commitment to bolster the environment for smaller companies to more easily raise the growth capital they need and to help foster a more conducive IPO market for SMEs. Speaking at an Equity Market Structure Symposium in… Read More

April 11, 2018 @ 3:00 pm By JD Alois  |  

The Financial Conduct Authority (FCA) has recently published a note stating they are aware of a growing number of UK firms issuing cryptocurrencies or digital assets associated with initial coin offerings. These vehicles are currently not directly regulated but the FCA, and other policy types,… Read More

April 11, 2018 @ 10:30 am By Cali Haan  |  

  Speaking Saturday at the Cryptochicks Conference in Toronto, Zoe Adamovicz, CEO of Neufund, an online equity token-investing platform based in Germany, characterized the current regulatory crackdown in the US as as much about “protecting investors” as a matter of “jurisdictional competition,” where countries, negotiate… Read More

April 10, 2018 @ 9:08 am By JD Alois  |  

During the 2018 LendIt Fintech conference in San Francisco this week, SeedInvest CEO Ryan Feit delivered a presentation on the current state of securities regulations in regards to initial coin offerings (ICOs). Until recently, much of the ICO activity in the US was completed in… Read More

April 9, 2018 @ 10:41 am By JD Alois  |  

In the Fall of 2017, the US Department of Treasury published a document entitled, “A Financial System That Creates Economic Opportunities – Capital Markets.” This comprehensive overview of the current regulatory environment regarding capital formation is probably the best publication I have ever seen produced… Read More

April 9, 2018 @ 9:24 am By JD Alois  |  

Blockchain Bundesverband has published an extended version position paper on regulating initial coin offerings (ICOs). This is a follow on publication from a shorter document published this past February. The group seeks to advocate for a regulated market for ICOs in Europe. The aim of this… Read More

April 8, 2018 @ 9:21 pm By JD Alois  |  

The 36 Annual SEC Small Government Business Forum on Small Business Capital Formation took place last November in Austin, Texas. This past week, the SEC published the final report which includes the list of recommendations as prioritized by the participants in this yearly gathering between… Read More

April 7, 2018 @ 7:27 pm By JD Alois  |  

Longfin Corp. (NASDAQ:LFIN) was hit with a formal request by NASDAQ to provide additional information regarding recent trading activity. The shares were placed on a T12 trading halt on Friday as the Securities and Exchange Commission (SEC) filed a formal complaint against Longfin that included… Read More

April 7, 2018 @ 7:59 am By JD Alois  |  

During the summer of 2017, legislation  was introduced into the Senate that had the potential to kill cryptocurrency innovation. The legislation, entitled “Combatting Money Laundering, Terrorist Financing, and Counterfeiting Act of 2017,″ (S.1241) contained very confusing language pertaining to “digital currencies.” Since last year, the bill has been… Read More

April 6, 2018 @ 3:56 am By JD Alois  |  

The Securities and Exchange Commission filed an “Order Instituting Proceedings” to determine if they should approve the listing of shares of the GraniteShares Bitcoin ETF and the GraniteShares Short Bitcoin ETF on the CBOE BZX Exchange. This is similar to a process that was initiated last… Read More

April 5, 2018 @ 1:00 pm By JD Alois  |  

My Big Coin (MBC) was hit with an enforcement action by the Commodity Futures Trading Commission (CFTC) back in January of this year. The CFTC alleged, among other things, that MBC’s initial coin offering represented to investors as being actively traded on cryptocurrency exchanges when in fact… Read More

April 5, 2018 @ 11:16 am By Erin Hobey  |  

Digital currency exchange guidelines at last! Australia has implemented new legislative guidelines aimed at regulating digital currency exchange businesses. Enacted earlier this week, the new regulations require cryptocurrency exchanges in the country to comply with requirements outlined in the Anti-Money Laundering and Counter-Terrorism Financing Act… Read More

April 3, 2018 @ 1:06 pm By JD Alois  |  

So what is it with boxers and bogus initial coin offerings? The Securities and Exchange Commission (SEC) has filed a complaint alleging securities fraud with another ICO. This time it is Centra Tech, the creation of Sohrab “Sam” Sharma and Robert Farkas. The ICO reportedly… Read More

April 3, 2018 @ 7:00 am By Therese Torris  |  

The CryptoSummit 2018 organized by Blockchain startup Smart Valor gathered more than 1,000 attendees from 47 countries in Zurich. One of the recurring themes of the conference presentations was the regulation of Initial Coin Offerings (ICOs). Many participants pointed out that there is now an… Read More

April 3, 2018 @ 5:40 am By JD Alois  |  

The SEC has charged the founder of Mozido, Michael Liberty, as operating a Fintech scam. Liberty, along with his accomplices, allegedly stole the bulk of $48 million they raised. The money was apparently used to fund a posh lifestyle that included private jet flights, mansions,… Read More

April 2, 2018 @ 6:00 am By Andy Bromberg, Georgia Quinn & Regan Bozman  |  

  To date, fundraising has been blockchain’s killer app. In 2017, Initial Coin Offering (ICO) fundraising eclipsed that of traditional venture capital, and in 2018, ICOs have already raised nearly $3 billion in non-dilutive funding. This new form of early-stage financing is incredibly promising, at… Read More