Tagged: regulation

Europe: Pilot on Tokenization and Digital Securities Regulation Released by EU Parliament

The European Parliament has posted regulations pertaining to tokenization and digital securities leveraging blockchain or distributed ledger technology. The DLT pilot plan aims to enable innovators to advance their platforms while providing a safe environment for users. To quote the document: It is important to… Read More

SEC Chairman Gary Gensler Re-Affirms His View that Most All Digital Assets are Securities

“Most crypto tokens are investment contracts under the Supreme Court’s Howey Test.” SEC Chairman Gary Gensler is not wavering from his view that most all crypto assets are securities. Gensler has consistently voiced this belief queueing up expectations for a growing number of enforcement actions… Read More

Perspective: Congressman Tom Emmer Advocates on Behalf of Crypto Innovators as the SEC Stifles Innovation

Congressman Tom Emmer distributed a series of Tweets this past week that is emblematic of the frustration pertaining to the digital asset industry and a recalcitrant Securities and Exchange Commission when it comes to fostering a productive regulatory environment. Included in the Tweets, the Congressman… Read More

New ESMA Guidelines on European Crowdfunding Could Have Cooling Effect on Sector

Earlier this week, the European Securities and Markets Authority (ESMA) published an updated Q&A on the pan-European crowdfunding rules. Updated rules, called European Crowdfunding Service Providers Regulation (ECSPR), became actionable last November but questions remain and European member states are still sorting things out. To help… Read More

Biden Administration Planning Crypto Regulation Proposal

The Biden administration is planning to roll out a proposal for crypto regulation as soon as next month, according to reports. The White House’s policy push is expected to be accompanied by legislative proposals emerging from Congress as the Executive and Legislative branches work to… Read More

Lenders Beware: 2022 Could See Increased Enforcement Activity

2022 could see aggressive movement by some federal agencies, an experienced industry hand suggests. Joseph Lynyak III is a partner at the international law firm Dorsey & Whitney and one of the nation’s foremost experts in the country on the Consumer Financial Protection Bureau (CFPB),… Read More

Former SEC Chairman Jay Clayton Says He is Huge Believer in Blockchain Technology

Former Securities and Exchange Commission Chairman Jay Clayton visited with CNBC yesterday to discuss meme stocks but he also had the opportunity to share his opinion on crypto. During the show, Clayton professed that he has, “long believed that the rules in that area are… Read More

Harmonized European Crowdfunding Rules Go Into Effect

Harmonized European crowdfunding laws commence today (November 10, 2021). After years of engagement by industry leaders, largely due to the efforts of EuroCrowd, issuers may now utilize investment platforms to sell securities across all EU member states. The European Crowdfunding Service Providers Regulation (ECSPR) rules… Read More

Deputy Secretary of the Treasury Wally Adeyemo Outlines Risks and Concerns Regarding Cryptocurrency

Deputy Secretary of the Treasury Wally Adeyemo delivered a presentation today at the LINKS Conference by Chainalysis. Adeyemo outlined the risk and concerns that policymakers have when dealing with the burgeoning digital asset or cryptocurrency markets. While voicing his opinion on these risks, Adeyemo did… Read More

Comptroller of the Currency Michael Hsu Says Regulation is Too Fragmented When it Comes to Fintech, Crypto Firms

Acting Comptroller of the Currency Michael Hsu delivered a compelling speech today during a presentation at the American Fintech Council, Fintech Policy Summit. The AFC largely represents digital and neo-banks as well as non-bank lenders. Hsu recently spoke at a Blockchain Association event where he… Read More

SEC Chairman Gensler Grilled by Republicans on Senate Banking Committee, Ranking Member Toomey Supports Regulatory Clarity for Crypto

SEC Chairman Gary Gensler marched up to Capitol Hill yesterday to testify in front of the Senate Banking Committee in a hearing entitled “Oversight of the U.S. Securities and Exchange Commission”.  Gensler outlined his ambitions at the SEC in his prepared remarks. While Gensler received… Read More

FCA Chair Discusses Crypto Scams, Digital Asset Regulation

In a speech delivered at the Cambridge International Symposium on Economic Crime, FCA and PSR Chair Charles Randall discussed some hot topics in the financial services sector – fraud and scams. More specifically, crypto scams and the regulation of digital assets or tokens. Currently, the… Read More

UK Crowdfunding Association Comments on FCA Dear CEO Letter Sent to Platforms

Two weeks ago, the UK Financial Conduct Authority posted a “Dear CEO” letter directed at investment crowdfunding platforms. The letter, signed by Debbie Gupta, Director of Consumer Investments Supervision, cautioned platforms on both the risk of investments being offered to investors as well as the… Read More

Fintech & Blockchain Attorney Daniel Payne Comments on Looming SEC Enforcement Actions Targeting Digital Asset Sector

The enforcement drums are pounding at the Securities and Exchange Commission (SEC) when it comes to digital assets. At the top of the list are trading platforms that may be skirting established securities laws, especially when the Commission believes they are enabling the buying and… Read More

Gensler’s Crypto Stance No Surprise: Industry Watcher

Securities and Exchange Commission Chair Gary Gensler’s plan to be the new sheriff policing the Wild West of Crypto comes as no surprise to one industry watcher. Earlier this week Gensler announced that he plans on cracking down on cryptocurrency-related fraud and sought more assistance… Read More

New Sheriff in Town: SEC Chair Gensler Warn’s Crypto Industry that More Regulations are Needed

The Chairman of the Securities and Exchange Commission, Gary Gensler, has been consistent in his comments regarding digital assets/crypto in regards to a need for more regulation. This week, Gensler addressed the Aspen Security Forum and his topic of choice was crypto and the need… Read More

UK Coalition for a Digital Economy Publishes Paper on Regulating Buy Now, Pay Later (BNPL): Don’t Throw the Baby Out with the Bathwater

The Coalition for a Digital Economy (Coadec), an organization created to promote the UK as the top European startup ecosystem, has published a paper on the fast-growing Buy Now, Pay Later (BNPL) sector of Fintech. Entitled Regulate Credit Now, Reform it Later, Coadec says the credit… Read More

Harmonised EU Framework for Consumer Credit May Impact Crowdfunding Platforms

Recently, the European Commission distributed a proposal pertaining to the harmonization of consumer credit. The proposal is being reviewed in light of the advent of the digitization of consumer credit. To quote the factsheet distributed by the Commission: “Consumer credit helps consumers finance all sorts… Read More

Canada Announces Nationally Harmonized Investment Crowdfunding Rules

Canada has long held a fragmented approach to online capital formation where securities crowdfunding is regulated at the provincial level. Obviously, this creates unnecessary friction to an emerging sector of Fintech that facilitates capital formation for early-stage ventures. Today, the Canadian Securities Administrators (CSA) has… Read More

Turkey Bans Crypto From Being Used in Payments & Transfers

Earlier today, the official newspaper of Turkey published new regulations issued by the Central Bank of Turkey. According to the new rules, crypto-assets may no longer be used as a form of payments or transfers as of April 30, 2021. According to Reuters, Ahmed Faruk… Read More

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