Posts in category

Regulation


A draft proposal by the European Parliament’s Committee on Economic and Monetary Affairs suggests creating new regulations for public initial coin offerings (ICOs), according to a document published Friday. Ashley Fox, a Member of the European Parliament (MEP) representing the United Kingdom, wrote a draft report on proposed regulations for Europe’s crowdfunding platform operators and companies. …

0 36

A governmental committee comprised of Saudi Arabian regulators has issued a statement clarifying that cryptocurrency trading is illegal in the kingdom. According to a statement issued Sunday, the standing committee warned against trading in cryptocurrencies due to “negative consequences and high risks on traders as they are out of government supervision.” It went on to clarify: …

0 37

It was an expected result at an unexpected time. The news broke on August 7 that the U.S. Securities and Exchange Commission (SEC) is kicking the can on its decision to approve or disapprove a proposed rule change that would let the Cboe BZX Exchange list a bitcoin exchange-traded fund (ETF). Now, the next deadline for …

0 37

The regulators have awoken. SEC Director William Hinman introduced novel concepts to the securities law analysis such that sellers of digital assets may have an escape valve. Yes, even if their initial sale triggered securities laws, later sales may not. The industry should not move forward without careful exploration of these concepts. First order of …

0 36

Blockchain advocacy group Coin Center continues to believes some cryptocurrencies look like securities by law, and should be regulated as such. Peter Van Valkenburgh, the organization’s director of research, published a new report Friday arguing that certain cryptocurrencies follow the oft-cited Howey Test and act as investment contracts. As such, he wrote, they should be …

0 36

“Regulators would be wise to avoid the chainsaw when microsurgery could do” when it comes to blockchain technology, says author Don Tapscott. Tapscott, the co-founder and executive director of the Blockchain Research Institute (BRI) – a multi-million dollar global blockchain think tank – published a report Wednesday calling for increased regulatory clarity on blockchain and cryptocurrencies. …

0 36

Thailand’s new licensing system for firms working with digital assets has seen a flurry of applications from companies seeking to offer token sales and exchange services just weeks after it went into effect, an official has said. In a news report from Bangkok Post on Thursday, Rapee Sucharitakul, the secretary-general of the Thailand Securities and …

0 36

Thailand’s new licensing rule that governs initial coin offerings (ICOs) has gained interests from companies setting out to offer token sales and exchange services just weeks after the rule went into effect, official said. In a news report from Bangkok Post on Thursday, Rapee Sucharitakul, the secretary-general of the Thailand Securities and Exchange Commission (SEC), …

0 36

The U.S. Securities and Exchange Commission (SEC) is set to make final decisions on nine proposed bitcoin exchange-traded fund (ETF) in the next two months. As first reported Tuesday by CoinDesk, the U.S. Securities and Exchange Commission (SEC) delayed a decision on a proposed rule change from the Cboe BZX Exchange that, if approved, would allow for …

0 36

The United States Securities and Exchange Commission (SEC) is in no hurry to review the pile of Bitcoin ETF filings it has been accumulating over the past year. Not three weeks since postponing its decision on five other Bitcoin ETFs, the SEC has indicated in a public statement that it will be delaying its decision …

0 37

A number of financial regulators from across the globe are forming a new alliance to facilitate the growth of financial technologies such as blockchain and distributed ledger technology (DLT). The U.K.’s Financial Conduct Authority (FCA), which spearheaded one of the world’s first fintech sandbox programs, announced the Global Financial Innovation Network (GFIN) initiative on Tuesday, …

0 38

“My premise is that you can use blockchain to essentially trust people you don’t know – you trust the code.” While that statement by Hugh Karp may sound like a standard line in crypto-land, his startup, Nexus Mutual, is actually building a product for those who don’t trust the code. Or, at least, don’t trust …

0 38

Ohio has become the latest U.S. state to legally recognize data stored and transacted on blockchain. The news comes after lawmakers from the state introduced a bill in May that sought to treat blockchain data and smart contracts as electronic records in a bid to provide safe harbor for the emerging technology. Part of the wording …

0 36

Coinbase has announced that it has renewed its money transmitter license in Wyoming three years after terminating its activities in the state. The move marks a significant shift in the working relationship between the crypto exchange giant and state regulators following the expiry of the previous license in June 2015. Working With Regulators In a …

0 37

A group of Japanese cryptocurrency exchanges have formally submitted a detailed proposal to form a self-regulatory organization to the nation’s Financial Services Agency (FSA). The Japan Virtual Currency Exchange Association (JVCEA), which was formed by 16 exchanges in March and registered with the FSA in April, has applied to become a “certified fund settlement business …

0 36

When the SEC announced its rejection of the Winklevosses’ latest bitcoin ETF filing, the industry found itself reckoning with a problem on repeat: striving toward the goal of approval, another Exchange Traded Fund (ETF) proposal faced the SEC’s death knell. At this point in the industry’s development, securing an ETF has become the space’s institutional …

0 38

The chief of New York’s financial regulatory body said Tuesday that the agency is “fiercely opposed” to the U.S. Treasury Department’s recent endorsement of regulatory “sandboxes” for fintech firms In a statement published on the the Department of Financial Services (DFS) website, Superintendent Maria T. Vullo said: “The idea that innovation will flourish only by …

0 36

Jonathan M. Padilla is a Schwarzman Scholar at Tsinghua University where he wrote the dissertation “New Regulations for the New Economy: A Proposal for the G20 on the Regulation of Cryptocurrency,” from which this article was adapted. He has advised major e-commerce and natural resource companies on blockchain integration and has a background in government …

0 37

Long Blockchain, the beverage maker that made headlines last year when its stock surged following a pivot to blockchain and a related name-change, has been subpoenaed by the U.S. Securities and Exchange Commission (SEC). An 8-K form submitted by Long Blockchain to the SEC on July 26 and revealed on Wednesday shows that the firm …

0 36

The Philippines is close to introducing new regulations governing how companies can legally raise funds through initial coin offerings (ICOs). To that end, the country’s Securities and Exchange Commission (SEC) published draft rules governing ICOs on Thursday, and is now seeking public feedback before they can go into effect. The regulations notably assume that tokens issued …

0 36