Tagged: regulation

July 26, 2021 @ 9:21 am By JD Alois  |  

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

July 16, 2021 @ 3:22 pm By JD Alois  |  

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

June 23, 2021 @ 11:17 am By JD Alois  |  

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

April 16, 2021 @ 1:51 pm By JD Alois  |  

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

April 12, 2021 @ 9:56 pm By Lee Schneider  |  

A murder of crows.  A pride of lions. A school of fish.  A conundrum of NFTs.  At least that’s how it feels when faced with the ever-growing craze for non-fungible tokens.  Here are five things about NFTs that may surprise you. They’re just another type… Read More

March 31, 2021 @ 11:10 pm By JD Alois  |  

The United Kingdom is looking to regulate the fast emerging stablecoin market before it addresses the broader crypto-asset sector, according to a report by Reuters. Citing John Glen, MP, Economic Secretary to the Treasury, who was speaking at a conference, the report indicated concern about… Read More

March 30, 2021 @ 11:00 am By Ariel Glasner and Amit Roitman  |  

President Joe Biden’s young administration is poised to deliver heightened – and perhaps unprecedented – regulatory scrutiny of the exploding Fintech industry.  The groundwork for a more active regulatory regime has been set over the course of the past decade.  Prior administrations harnessed existing enforcement… Read More

March 1, 2021 @ 12:00 pm By JD Alois  |  

This past week the European Securities and Markets Authority (ESMA) issued a consultation paper addressing standards for the previously approved pan-European crowdfunding regulation. As covered in the past, the European Union has passed legislation to enable online securities offerings across its member nations. After many… Read More

January 22, 2021 @ 11:27 am By JD Alois  |  

Yesterday, Assistant to the President and Chief of Staff Ronald Klein distributed a Presidential Action by President Joe Biden that is poised to impact recent improvements to security crowdfunding including the Reg CF and Reg A+ exemption. Entitled Regulatory Freeze Pending Review, President Biden has… Read More

January 12, 2021 @ 3:47 pm By JD Alois  |  

The Biden Administration continues to announce new appointments as it looks to fill out the bench of federal appointees following the inauguration on January 20, 2020. For the securities and financial services industry, many questions exist as to how this leadership transaction will impact policy…. Read More

December 10, 2020 @ 1:50 pm By Milena Naitoh  |  

Digital lending platforms have made strong inroads in Southeast Asia over the past few years. In 2016 alone, peer-to-peer (P2P) business lending generated US$115.01 million—more than half of Southeast Asia’s total alternative financing market that year.  This growth can be attributed to a combination of… Read More

December 8, 2020 @ 7:24 pm By JD Alois  |  

Carla Carriveau has recently joined CoinList as their new Chief Legal Officer and General Counsel (the previous GC, Georgia Quinn is now at Anchorage). Prior to joining CoinList, Carriveau was at Forge.  Carriveau entered the fray with an interesting blog post today addressing expectations for… Read More

November 13, 2020 @ 6:26 pm By JD Alois  |  

The North American Securities Administrators Association (NASAA) distributed a comment letter today outlining its opposition to the proposal by the Securities and Exchange Commission’s move to clarify the role of Finders. A Finder is an individual that finds investors for smaller firms. A lack of… Read More

November 12, 2020 @ 5:17 pm By JD Alois  |  

The Chilean securities regulator, the Comision Para El Mercado Financiero (CMF), has posted draft regulations for Fintech including investment crowdfunding rules. The objective is to provide a regulatory framework for online capital formation. The CMF believes that a proportional, tech-neutral, framework will promote innovation in… Read More

November 4, 2020 @ 1:27 pm By JD Alois  |  

Yesterday, the Hong Kong Government announced a consultation to enlist public opinion on legislative proposals designed to enhance anti-money laundering and counter-terrorist financing (AML/CTF) regulation in Hong Kong. Cryptoassets (digital assets) were included in the consultation with the introduction of a licensing regime for virtual… Read More

November 2, 2020 @ 10:00 pm By Ryan Feit  |  

Today marked a major turning point for the private capital markets in America.  While most of the country is squarely focused on the election, the SEC quietly passed dramatic improvements to securities laws for startups, small businesses and investors everywhere.  The SEC’s actions today signified,… Read More

October 26, 2020 @ 12:19 pm By JD Alois  |  

The Financial Crimes Enforcement Network (FinCEN) and the US Federal Reserve Board has invited comment on a proposed rule that would amend the recordkeeping and travel rule regulations under the Bank Secrecy Act. The travel rule is affiliated with the Financial Action Task Force’s (FATF)… Read More

July 24, 2020 @ 4:39 pm By JD Alois  |  

Months ago, the Securities and Exchange Commission (SEC) kicked off a review of the exempt offering ecosystem in an attempt to improve access to capital for younger firms while continuing to ensure sufficient investor protection. Over the years, access to capital via the public markets… Read More

July 20, 2020 @ 10:46 am By JD Alois  |  

HM Treasury has issued two public consultations today. One is a review of the current requirement for an authorized firm to approve the financial promotion of an unauthorized firm that may not operate as a strong enough safeguard to ensure such financial promotions are compliant… Read More

July 13, 2020 @ 8:34 am By JD Alois  |  

The Wirecard AG (WDI:DE) scandal has rocked the Fintech world as the once high flying firm that was a member of the DAX filed for bankruptcy following the revelation of a €1.9 billion in missing funds. Regulators, elected officials as well as Fintech industry insiders have… Read More