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Telegram to Refund Money from GRAM ICO? Perhaps.

Last Thursday, a letter posted on the Russian website of SmartLab said that Telegram will offer GRAM purchasers the option to receive their money back as the deadline for the issuance of the tokens had passed. Telegram has been in an ongoing legal battle with… Read More

As Confusion Swirls Regarding PPP, FinCEN Provides FAQ Regarding BSA Requirements

The Paycheck Protection Program (PPP), one of the elements of the CARES Act designed to help the US SME sector that has been demolished by the COVID-19 pandemic, has been lauded in its intent but criticized in its execution. Confusion continues as banks struggle to… Read More

SEC Provides Temporary Relief for BDCs Investing in SMEs

The Securities and Exchange Commission has announced that it is providing temporary, conditional exemptive relief for business development companies (BDCs) to enable them to make additional investments in small and medium-sized businesses. The SEC pointed out that this included firms affected by COVID-19. BDCs invest… Read More

Digital Banking: Online Lender Mintos Pursues European Investment and e-Money Licenses

Mintos, a global loan marketplace claiming over a quarter of a million investors, is pursuing both a investment firm license and an e-money institution license, according to a release from the company. Mintos has applied to the Financial and Capital Market Commission (FCMC) in Latvia… Read More

Roche Cyrulnik Freedman and Selendy & Gay File Multiple Class Actions Against Well Known Crypto Exchanges, Also Targets Manipulative Conduct at Bitmex

Two law firms, Roche Cyrulnik Freedman and Selendy & Gay, have jointly filed 11 class actions against well-known crypto exchanges. The lawsuits also include accusations of “manipulative conduct” by Bitmex. The allegations were filed in the Southern District of New York against four crypto exchanges… Read More

Open for Trading: Openfinance Lists LDCC Token from Lottery.com

Openfinance, a registered alternative trading system (ATS) that is trading marketplace for digital assets, has announced the listing of Lottery.com‘s LDCC token. The digital asset is available for all US investors – not just accredited individuals. LDCC is the security token offered by Lottery.com. The… Read More

Schroders, Ferd and Fintech Collective Invest in Accelerator Antler

Schroders, Johan H. Andresen through his investment house Ferd, the Fintech Collective, and more have invested in global tech accelerator Antler. Founded in 1804, Schroders is a global investment management company that currently manages £444.4 billion and employs over 5,000 people worldwide in 32 locations… Read More

Following Banner Year for Israeli Tech Exits, OurCrowd Highlights Investment Success with 36 Exits to Date

OurCrowd, the leading global investment crowdfunding platform and Israel’s leading venture investor, is out with a note on some of its exits in advance of the OurCrowd Global Investor Summit taking place in February, Israel’s largest tech conference and the largest equity crowdfunding event in… Read More

AvidXchange Secures $260 Million Through Latest Investment Round to Support Continued Growth

Money Benjamin Dollars 100

AvidXchange, a U.S. fintech that provides accounts payable and automated payment solutions to midsize businesses, announced on Friday it has raised $260 million in equity capital as part of the company’s latest financing round. With contributions from TPG Sixth Street Partners and other leading investors, this brings… Read More

Visa-Plaid Acquisition: Sign of the Times

On January 13th, Visa (NYSE: V) announced it had purchased the Fintech Plaid as the old school credit card rails company seeks to boost its innovation cred. Visa paid a whopping $5.3 billion to acquire Plaid – a nice exit for early investors. Al Kelly,… Read More

An ICO by Any Other Name: SEC Issues Investor Alert on Initial Exchange Offerings (IEOs)

The US Securities and Exchange Commission’s (SEC’s) Investor Education and Advocacy division is warning the public that, because both Initial Exchange Offerings (IEOs) and the platforms selling them may be unregistered and unregulated, investing in IEOs may be high risk- and not much different than… Read More

The North American Securities Administrators Association Hammers SEC’s Move to Broaden the Definition of an Accredited Investor

The President of the North American Securities Administrators Association (NASAA), Christopher W. Gerold, has issued a statement regarding the Securities and Exchange Commission’s (SEC) proposal to modernize and improve the definition of an accredited investor. NASAA is the advocacy and lobbying group that represents state… Read More

Kapilendo is Issuing its First Digital Bond Using Stellar Blockchain

“Banking partner for SMEs” Kapilendo is issuing its first blockchain-based digital bond. According to the Germany based crowdfunding platform, FR L’Osteria SE, a “gastronomy concept” is issuing a tokenized bond using blockchain tech. Kapilendo is a debt-based crowdfunding platform that caters to Mittelstand companies by… Read More

US Deputy Secretary of Treasury Muzinich on Fintech: Digital Currencies at Scale Raise Questions About Self-Government

US Deputy Secretary of the Treasury Justin Muzinich delivered a speech this week where he addressed the emerging landscape of digital currencies. Muzinich commented on the “broader innovation trends that are shaping our banking and financial system.” Muzinich said: “While banks today provide a range… Read More

Rearguard Action: Independent Community Bankers of America Supports Closure of Industrial Loan Charter “Loophole” to Eliminate “Shadow Banking”

The Independent Community Bankers of America (ICBA) has issued a statement of “strong support” regarding pending legislation targeting Industrial Loan Charters (ILC). An ILC is a regulated financial services charter that may be held by non-financial institutions. ILCs may hold FDIC insured deposits – a… Read More

CrowdStreet Raises $12 Million in Series C Funding: CEO Tore Steen Plans Thoughtful Expansion

CrowdStreet, a real estate crowdfunding platform, has raised $12 million in a Series C funding round from its “community of individual  investors and commercial real estate sponsors.” CrowdStreet leveraged its own platform to raise the growth capital. CrowdStreet also reported that it is on track… Read More

SEC and CFTC Charge Swiss-Based First Global Credit for Selling Unregistered Swaps for Bitcoins; Website Domain Seized by FBI

A Switzerland-based securities dealer called XBT Corp/First Global Credit has been charged and fined by the American SEC and CFTC for, “selling unregistered security-based swaps to U.S. investors using bitcoins and for failing to transact its swaps on a registered national exchange.” The company’s website has… Read More

Patch Crushes £500,000 Goal on Crowdcube. Now at £1.95 Million

With seven days left in its equity offering, Patch is crushing its goal on Crowdcube. Crush has raised just under £2 million on a goal of raising £500,000. The company is offering an 8.67% equity stake in the firm at a pre-money valuation of £20.55… Read More

Update: Anna Money Surpasses £3.5 Million in Funding Through Seedrs Round

Anna Money, a UK-based fintech that specializes in SME business banking, has successfully secured £3.5 million in funding through its equity crowdfunding campaign on Seedrs. The funding round was launched last month and quickly surpasses its initial £3 million funding target. Anna stands for Absolutely… Read More

G7: Cryptocurrencies Such as Libra Pose a Risk to the Global Financial System

The Group of 7 (G7), representing the 7 largest developed economies in the world, is preparing a report slamming Facebook’s Libra. The proposed stablecoin that aspires to be a non-sovereign global currency has been hammered since it was revealed earlier this year. Government officials from… Read More

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