Politics, Legal & Regulation

November 4, 2024 @ 8:40 am By Omar Faridi  |  

Charles Cascarilla, CEO and co-founder of Paxos, noted in an open letter to Vice President Kamala Harris and Former President Donald Trump that the next presidential administration will determine whether America continues to lead the global financial industry or forfeits that leadership. Cascarilla said the US is at risk of becoming the “Rust… Read More

November 4, 2024 @ 8:27 am By Omar Faridi  |  

The Monetary Authority of Singapore (MAS) has announced plans to support the commercialization of asset tokenization. The Monetary Authority of Singapore (MAS) officially announced on November 4, 2024 its plans to advance tokenization in financial services. These include: forming commercial networks to deepen liquidity of… Read More

November 3, 2024 @ 6:37 pm By JD Alois  |  

The Securities and Exchange Commission’s (SEC), Small Business Capital Formation Advisory Committee (SBCFAC) has added new members to the committee. According to a statement issued by the SEC, four new members have joined the independent Committee that aims to advise the Commission on policies that… Read More

November 2, 2024 @ 4:23 pm By Omar Faridi  |  

The Federal Trade Commission revealed recently that it is sending more than $2.5 million to consumers who were said to be “misled” by “deceptive claims” from credit services company Credit Karma. The FTC reportedly took action against Credit Karma back in 2022, alleging that the… Read More

November 2, 2024 @ 7:37 am By Tony Zerucha  |  

Bitcoin (BTC) is likely to reach fresh all-time highs should Donald Trump win the US presidential election, predicts deVere Group CEO Nigel Green. The statement comes days before Americans hit the polls. BTC is currently around $71,000. The highest recorded price, $73,737, was paid on… Read More

November 1, 2024 @ 4:57 pm By Tony Zerucha  |  

As the Presidential election nears, Vice President Kamala Harris and former President Donald Trump are issuing stances on everything from the environment to finances. When it comes time to weigh the credibility of those statements, the founder and CEO of decentralized telecommunications network Chirp urges… Read More

November 1, 2024 @ 4:14 pm By JD Alois  |  

Earlier this year, CI reported on a consultation in the UK on Public Offer platforms [POP]. This is part of an initiative to improve the capital-raising environment for firms in the UK. Currently, in the UK, issuers typically are capped at pursuing online securities offering… Read More

November 1, 2024 @ 7:53 am By Omar Faridi  |  

Archax, the UK-based, FCA-regulated exchange, broker and custodian for digital assets, today announced it has agreed to acquire the Spanish broker King & Shaxson Capital Markets, Sociedad de Valores, S.A. (KSCM), to be renamed Archax Markets Europe, S.A. The completion of the strategic acquisition is… Read More

October 31, 2024 @ 11:47 am By JD Alois  |  

Yesterday, the UK government revealed its new budget and the changes being made to cover a deficit while attempting to fuel economic growth. While the punditry will be digesting the statement from the Chancellor of the Exchequer, Rachel Reeves, for days, CI has received a… Read More

October 30, 2024 @ 3:13 pm By JD Alois  |  

In the Autumn Statement delivered by Chancellor of the Exchequer Rachel Reeves today, the UK government delivered on an expectation for an increase in taxes. The Chancellor is the first female to deliver a budget in the UK’s history. In total, the government anticipates about… Read More

October 30, 2024 @ 9:46 am By JD Alois  |  

American Fintech Council (AFC) has submitted a comment letter in response to the joint Request for Information on Bank-Fintech Arrangements. The interagency RFI includes the FDIC, OCC and Federal Reserve. The letter states that it is important for these agencies to understand that not all… Read More

October 29, 2024 @ 12:21 pm By JD Alois  |  

Investment crowdfunding under Reg CF (Regulation Crowdfunding) supports opportunities for smaller firms. Issuers raising money using Reg CF may raise up to $5 million while selling securities to both accredited and non-accredited investors. Firms must utilize the services of a FINRA-regulated Funding Portal or Broker… Read More

October 29, 2024 @ 11:49 am By JD Alois  |  

An increase in capital gains taxes (CGT) is anticipated to be announced at this week’s Autumn Statement. This will impact investments in firms and may undermine support of early-stage ventures. This much is clear. Today, we have two more executives adding their voices to the… Read More

October 28, 2024 @ 11:05 pm By Omar Faridi  |  

On June 28, 2024, the US Treasury Department had released the first of what will “likely” be a few different sets of final regulations relating to digital assets. According to an extensive update from Taxbit, for the most part, this set of finalized rules addresses… Read More

October 28, 2024 @ 10:38 am By JD Alois  |  

The Autumn Statement, the event where the UK government outlines its forthcoming budget and associated programs, is scheduled for Wednesday, October 30th. Expectations are for the Labour government to increase certain taxes as it aims to close a gap in funding. CI has received multiple… Read More

October 28, 2024 @ 8:23 am By JD Alois  |  

The Open Banking rules announced by the Consumer Financial Protection Bureau (CFPB) may dramatically alter the entire consumer financial services sector. Customers may soon be in control of their own data – determining who may, and who may, not access the information. This may expedite… Read More

October 27, 2024 @ 10:44 pm By Omar Faridi  |  

The team at Blockdaemon has shared key crypto / digital assets industry insights which aim to take a closer look at the various US Congressional actions in 2024. Sam Kim notes in a recent blog post by Blockdaemon that their overview of recent U.S. regulatory… Read More

October 27, 2024 @ 7:51 pm By Tony Zerucha  |  

This week, FINRA released The Metaverse and the Implications for the Securities Industry. It is intended to raise awareness among FINRA member firms and the broader securities industry by providing an overview of how developments related to the metaverse may impact business models and processes…. Read More

October 27, 2024 @ 4:40 pm By Omar Faridi  |  

The MFSA is urging sector-wide alignment to banking risk as well as capital disclosure practices. The MFCA noted in a recent update that it is calling for enhanced consistency as well as more transparency among credit institutions. The Malta Financial Services Authority (MFSA) has issued… Read More

October 27, 2024 @ 4:36 pm By Omar Faridi  |  

The US government has reportedly retrieved more than $19 million from a what appeared to be a hack this past week, according to insights shared by Arkham. The US government-linked digital wallet appears to have recovered nearly 90% of the lost assets within 24 hours… Read More