Tagged: regulations

Vietnam to carry out a pilot to study crypto’s role in creating digital govt

Vietnam is the latest among smaller nations to have joined the crypto bandwagon as the country is developing a strategy towards having a digital government. In the last few weeks, countries such as El Salvador, Portugal, and Philipinnes have introduced regulations around cryptocurrencies. Vietnam’s Prime… Read More

Global Banks Taking Proactive Tech Approach in 2021: Finastra

Global bank investment strategies are becoming more proactive, data from a Finastra survey suggest. Finastra surveyed 785 professionals from institutions in the US, UK, Singapore, France, Germany, Hong Kong, and the UAE for Financial Services: State of the Nation Survey 2021. In 2021 banks’ top… Read More

SEC Commissioners Peirce and Roisman Criticize Chair Gensler’s Regulatory Agenda While Pointing to Missing Digital Asset Rules

Following the revelation of the regulatory agenda for the Securities and Exchange Commission (SEC) under the leadership of Chair Gary Gensler, two Commissioners have issued a statement criticizing the list of rules and regulations the Commission is expected to tackle in the coming months. Additionally,… Read More

SEC Outlines Regulatory Agenda, Exempt Securities Top the List Including Reg D, Accredited Investor Definition

The Securities and Exchange Commission (SEC) has outlined its regulatory agenda for the coming months and at the top of the list are exempt securities that include Reg D and perhaps other exemptions such as Reg CF and Reg A+. Of note, is that the… Read More

Canada: CSA and IIROC Outline Securities Law Requirements and Application to Crypto Trading Platforms

The Canadian Securities Administrators (CSA) and the Investment Industry Regulatory Organization of Canada (IIROC) have jointly published a notice outlining securities law requirements that apply to crypto-asset trading platforms (or CTPs) and how they may be tailored by regulators, according to a public statement. The… Read More

How the Regulatory Framework for Crowdfunding Platforms in Southeast Asia will Benefit SMEs and Investors

Peer-to-peer (P2P) lending has come a long way since its early days as a casual crowdfunding platform. Today, individual borrowers and small and medium-sized enterprises (SMEs) can access loans without the hassle of going through banks and lengthy financial assessments. Still, P2P lending is a… Read More

Offering Support for Crowdfunding and Broker-Dealers Subject to Transfer-Agent Requirements

On November 2, 2020, the U.S. Securities and Exchange Commission (“SEC” or “Commission”) voted to amend its rules to harmonize, simplify, and improve the exempt offering framework. These amendments will, in general, be effective 60 days after publication in the Federal Register. Bigger is Better An… Read More

Cato’s Director of Financial Regulation Studies Comments on SEC’s Exempt Ecosystem Update: A Welcome Step to Streamline the Exceedingly Complex Capital Raising Rules

As previously reported, the Securities and Exchange Commission (SEC) has updated the exempt offering ecosystem – changes that impact online capital formation including Reg CF and Reg A+. The amendments published the SEC include funding cap increases to both the aforementioned exemptions while additional updates,… Read More

The SEC Updates Reg CF, Reg A+ and More. Boosts Reg CF to $5 Million, Reg A+ Increased to $75 Million

During an open meeting of the Securities and Exchange Commission (SEC), the Commission approved updates to the exempt offering ecosystem that are designed to improve access to capital, boost access to greater opportunity for investors while maintaining important investor protection criteria. In a party-line vote,… Read More

Cryptocurrency Token Holders will Eventually have More Rights than Creators or Issuers, Blockchain focused Lawyer Claims

Gabriel J. Shapiro, a US attorney focused on mergers and acquisitions (M&A), venture, governance, Infosec, and digital assets, has noted that if you really care about cryptocurrency-related laws and proper governance, then you should know that the most “important” or relevant content out there right… Read More

FATF Releases Updated Virtual Assets Red Flag Indicators of Money Laundering and Terrorist Financing Report

The Financial Action Task Force (FATF), an intergovernmental organization that develops policies to combat money laundering and terrorism financing, has released an updated report, titled, Virtual Assets Red Flag Indicators of Money Laundering and Terrorist Financing. Published on September 14, 2020, the report notes that… Read More

New Crypto Ban Proposal in India Recommends Over $3 Million Fine and Up to 10 Years Prison Sentence for Entities Dealing in Virtual Currencies

Indian officials are reportedly considering passing a law that would ban the use of decentralized cryptocurrencies.  As reported by India’s Economic Times, the nation’s government might see a legal framework as being more effective than the Reserve Bank of India’s (RBI) blanket ban on crypto-assets…. Read More

Digital Asset Exchange and Wallet Provider Zebpay to Use Chainalysis Blockchain Tools to Prevent Financial Crime

Zebpay, a digital currency wallet and exchange provider that began its relaunch in India earlier this year, will be working with blockchain security and analysis firm Chainalysis to monitor crypto-asset transactions performed across its platforms for Indian consumers. Chainalysis had already been providing its Know… Read More

Cayman Islands Proposes New Legislation to Regulate Firms Dealing in Cryptocurrencies, Particularly Exchanges

The legislative assembly of the Cayman Islands has introduced five new pieces of legislation that may be used to regulate local firms dealing in cryptocurrencies. The proposed rules have mainly been created to monitor the operations of digital asset exchanges. The Virtual Asset Service Provider… Read More

Japan’s Financial Services Agency Recognizes the Nation’s Virtual Currency Exchange and Japan STO as Self-Regulatory Bodies

Japan’s financial regulator, the Financial Services Agency (FSA), has certified two organizations as Certified Financial Instruments and Exchange Associations. As confirmed in an announcement made on April 30, 2020, the FSA has officially recognized the Japan STO (security token offering) Association and the Japan Virtual… Read More

European Parliament Suggests Broadening the Definition of Virtual Currencies and Platforms that Need to Follow Financial Regulations

The European Parliament suggests that the EU should consider broadening the existing definition of digital assets or cryptocurrencies and expand its current list of blockchain or crypto-related organizations that may need to follow financial regulations. The EU adopted the Fifth Anti-Money Laundering Directive (AMLD5) back… Read More

Hong Kong’s Securities and Futures Commission Updates Digital Asset Regulations

Hong Kong’s securities regulator, the Securities and Futures Commission (SFC), has released an updated regulatory framework for digital asset fund managers. The SFC posted the guidelines on its official website on October 4. SFC’s 37-page document, titled “Proforma Terms and Conditions for Licensed Corporations which… Read More

97% of South Korean Crypto Asset Exchanges Could Be Shut Down Due to New Regulatory Requirements: Report

South Korea’s regulators have consistently preferred supporting blockchain-related initiatives over decentralized crypto tokens. Recent events confirm that the nation’s authorities are more inclined to support blockchain technology itself rather than investments in speculative cryptocurrencies.  According to local reports, approximately 97% of local crypto-asset exchanges might… Read More

Facebook’s Stablecoin Project Could Be a Boon to the United Nations Says Libra Association’s Managing Director

Libra Association managing director and COO Bertrand Perez has said that the Facebook-backed stablecoin project could be a boon to the United Nations. Perez, whose comments came during a recent blockchain event held at the UN headquarters in Geneva (where the non-profit Libra Association is… Read More

Libra Could Have “Huge Impact On Society” Says Bank of Japan Governor Haruhiko Kuroda

The governor of the Bank of Japan (BoJ) Haruhiko Kuroda has requested the international community to work together to develop a regulatory framework for stablecoins, including Facebook’s Libra. In statements shared with Reuters on Tuesday, Kuroda noted: “If Libra is introduced, it could have a… Read More

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