Tagged: legislation

Here is the California Legislation that May Enable Digital Assets Not to be Treated as Securities

Last week, an amended bill hit the California Assembly. The legislation seeks to create an exemption for digital assets to be treated as securities. To quote AB 2150: “Existing law, the Corporate Securities Law of 1968, provides for the regulation of the issuance of corporate… Read More

Don’t Touch That! Proposed US House Legislation Removes Signature Requirement at Point of Sale

We have all read the articles about how physical cash is pretty gross. This has been a well-known fact for years. A study from 20 years ago on the bacterial contamination of paper currency showed that 94% of dollar bills tested carried many pathogens including… Read More

European Commission Plans Crypto-Asset Legislation in Q3 of 2020

The European Commission (EC) intends on publishing possible legislation for digital assets or crypto-assets in Q3 of 2020. This is according to a statement Executive Vice-President Valdis Dombrovskis on behalf of the EC. The reveal was squirreled away in a European Parliament question page. The statement… Read More

Everything but the Kitchen Sink: Buried within the Democrats Proposal for COVID-19 Response is a Digital Dollar Requirement

This probably should come as no surprise. As the economy dives and the Coronavirus spreads across the US, elected officials in Washington, DC struggle to agree on a relief package. It has been reported that Republicans and Democrats had come to terms on a bailout… Read More

Senator Klobuchar Proposes Bill to Boost Entrepreneurship with Government Investment Fund

The New Business Preservation Act. Senator Amy Klobuchar, fresh off the Presidential campaign trail, has introduced legislation to help boost entrepreneurship and SMEs during a time when the economy is being pummeled by the Coronavirus pandemic (COVID-19). Senators Chris Coons and Tim Kaine have co-sponsored… Read More

Crowdfunding to Combat the Coronavirus Act: Proposed Legislation Creates $1 billion Prize to Crowdfund COVID-19 Vaccine

Representative Patrick McHenry, Ranking Member on the House Financial Services Committee, has proposed legislation to crowdfund a vaccine for the Coronavirus entitled “Crowdfunding to Combat the Coronavirus Act.” The bill creates a $1 billion prize for anyone that develops a vaccine for COVID-19 that is… Read More

Milken Institute Tracks 108 Fintech Related Bills in the US Congress

The Milken Institute has published a deck tracking legislation in the 116th Congress that directly impacts Fintech. Jackson Mueller, Milken Institute Fintech lead and author of the report, told Crowdfund Insider, “For all the political divisiveness that we hear about on a daily basis, members… Read More

Morocco Pursues Crowdfunding Legislation: Report

Morocco has adopted a bill to create a legal framework for crowdfunding according to a report on Media24. The legislation is designed to: “… contribute to the mobilization of new sources of funding for the benefit of very small, small and medium-sized enterprises and young people… Read More

South Korea Officials Cause Confusion With Drafting Legislation to Tax Individual Cryptocurrency Profit

South Korea officials are reportedly causing some confusion with the latest drafted legislation that will tax individual crypto profits. According to Cointelegraph, South Korea’s officials stated that under current law, the government cannot impose income taxes on individual profits that are from cryptocurrency transactions. South… Read More

Draft “Cryptocurrency Act of 2020” Circulated in US House of Representatives

Republican Congressman Paul Gosar has introduced a “discussion draft” of a bill designed to, “clarify which Federal agencies regulate digital assets, to require those agencies to notify the public of any Federal licenses, certification, or registrations required to trade such assets, and for other purposes.” “The… Read More

US House of Representatives: Legislation Prepared to Designate Stablecoins as Securities

Draft legislation has been posted on the US House of Representatives, Financial Services Committee website that may designate “stablecoins” as securities. Sponsored by Representative Sylvia Garcia, the ‘‘Stablecoins are Securities Act of 2019″ would mandate that stablecoins are investment contracts and thus are regulated under… Read More

Cannabis Friendly SAFE Banking Act Passes the House, Next Up the Senate

The U.S. House of Representatives has passed H.R. 1595, the SAFE Banking Act, a Cannabis friendly act of legislation that may enable marijuana-based businesses to access the federal banking system. The bipartisan legislation was sponsored by Congressmen Ed Perlmutter (D-CO), Denny Heck (D-WA), Steve Stivers… Read More

Must See Live Stream: House Financial Services Subcommittee to Hold Hearing on Private Market Securities Exemptions & IPOs

Tomorrow (September 11), the House Financial Services Subcommittee on Investor Protection, Entrepreneurship, and Capital Markets, will hold a must-see hearing on “Examining Private Market Exemptions as a Barrier to IPOs and Retail Investment.”  The Subcommittee is Chaired by Representative Carolyn Maloney. The Hearing incorporates multiple pending… Read More

Bulgaria Drafts Bill Obliging Anti-Money Laundering Programs at Crypto Platforms

A draft bill designed to bring Bulgaria in line with anti-money laundering regimes in Europe and smooth the country’s bid to join the European Exchange Rate Mechanism (ERM II) and Banking Union has passed first reading in the Bulgarian parliament, Kinstellar reports. According to the… Read More

New York Restores Martin Act Securities Laws Statute of Limitations to Six Years

Andrew M Cuomo, Governor of the State of New York, has signed legislation restoring the statute of limitations pertaining to the state’s powerful Martin Act securities laws to six years from three. The previous six-year statute, which lawyers Wes Scott and Ryan Franklin say applied… Read More

India Minister of State For Finance States There Is No Official Ban on Cryptocurrency in the Country Yet

Following the news that Indian “blockchain lawyer” Varun Sethi leaked a copy of draft legislation proposing a ban on cryptocurrencies in India, India Minister of State for Finance Anurag Thakur reportedly stated there is yet to be an official ban on cryptocurrency in India. According… Read More

Here is Draft Legislation from Congress Designed to Block Big Tech from Finance and Limit Competition

During the past few days a draft House Resolution has been circulating with the title, ‘‘Keep Big Tech Out Of Finance Act.’’ As it is a draft bill, the legislation may never get beyond being run up the flagpole to capture feedback from a wider… Read More

Proposed Law in India to Impose 10-Year Sentences for the Use, Trading or Production of Cryptocurrencies while Proposing Digital Rupee

Details emerging about a proposed bill to ban cryptocurrencies indicate that things have gone from bad to worse for the cryptocurrency sector in India. According to Bloomberg Quint, if passed, new proposed legislation to cover the crypto sector will impose 10-year sentences on individuals possessing,… Read More

Bill to Ban Cryptocurrencies Circulating in India

Despite several reports that the government of India will not be addressing cryptocurrency legislation and relevant court cases until after the national elections wrap up in July, there is now news that a draft bill to ban cryptocurrencies is being circulated among Indian legislators, The… Read More

Switzerland Wants to Create the Best Possible Framework for Fintech and Distributed Ledger Technology

The government of Switzerland wants create the very best environment for Fintech, and more importantly distributed ledger technology (DLT) to thrive. The Swiss Federal Council kicked off a consultation last month on the adoption of DLT/Blockchain seeking to “increase legal certainty, remove hurdles for DLT-based… Read More

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