Tagged: no action letter

February 17, 2021 @ 1:21 pm By JD Alois  |  

Simetria has received a no-action letter from the Israel Securities Authority. Simetria says it will launch the first digital securities offering platform at some point in May 2021. Simetria added that it has also requested a permit that would allow it to settle digital securities… Read More

November 19, 2020 @ 12:54 pm By JD Alois  |  

IMVU, an avatar-based social network, has received a No-Action Letter (NOL) from the Securities and Exchange Commission (SEC) pertaining to a blockchain-based digital asset – VCOIN. The NOL states that the SEC will not take action on the digital asset because of the following: IMVU… Read More

November 9, 2020 @ 7:43 pm By JD Alois  |  

The Securities and Exchange Commission, Staff of the Division of Investment Management has issued a public statement pertaining to a recent No-Action Letter (NAL) published by the Wyoming Division of Banking that included the Wyoming Division of Banking’s views relating to the definition of “bank”… Read More

October 29, 2019 @ 11:03 am By JD Alois  |  

On October 25, 2019, Paxos sent a letter to the Securities and Exchange Commission (SEC), Division of Trading and Markets. The letter was in request to receive a No Action letter from the SEC in regards to Paxos’s operation of a securities settlement system. Paxos… Read More

August 15, 2019 @ 8:24 am By JD Alois  |  

DLXLaw, a boutique law firm that specializes in blockchain and smart contracts, recently helped a digital asset issuer receive a no-action letter (NAL) from the Securities and Exchange Commission (SEC). By receiving the NAL, the issuer, Pocketful of Quarters, received an implicit green light to… Read More

July 26, 2019 @ 10:22 am By JD Alois  |  

Following the Securities and Exchange Commission (SEC) no-action letter for their blockchain based “Quarters” tokens made for the game industry, Pocketful of Quarters (PoQ) has issued a statement on the decision. Pocketful of Quarters was the concept of 13-year-old founder & Chairman, George B. Weiksner…. Read More

May 6, 2019 @ 9:42 pm By Anthony Zeoli  |  

Here’s a question for all of you. Between coins, tokens, stamps, tickets, vouchers, and chips, which of these qualifies as a “security” under U.S. Securities laws? It’s actually a trick question, they all do! Well, technically speaking, they all could potentially qualify as securities. The… Read More

April 8, 2019 @ 12:00 pm By JD Alois  |  

Last week, the Securities and Exchange Commission (SEC) moved forward on clarifying their position regarding digital assets. First, a No-Action Letter (NAL) was released pertaining to the issuance of a token by TurnKey Jet. In a tightly defined issuance, Turnkey was deemed not to be… Read More

September 15, 2017 @ 6:28 pm By JD Alois  |  

The Consumer Financial Protection Bureau (CFPB) has issued its first no action letter to online letter Upstart. At the time of the request by Upstart, the online lender had facilitated over 80,000 loans totaling over $1 billion ranging from $1,000 to $50,000 with a term of… Read More

September 15, 2017 @ 6:14 pm By Tom Grant  |  

Bank lending regulations have rarely been thought of as dynamic or exciting but last night’s ruling by the Consumer Financial Protection Bureau (CFPB) to allow a lender to begin using alternative data in their underwriting could herald the beginning of a new era in lending… Read More