Posts in category

Regulation


On February 16, 2018, the Swiss Financial Market Supervisory Authority FINMA put the world on notice by being the first major economy to set out clear guidelines on initial coin offerings (ICOs). In an announcement, the Swiss regulator addressed plans to apply financial market legislation to different tokens as well as lay out how ICO …

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Today, February 16, 2018, the Securities and Exchange Commission (SEC) issued a press release announcing trading suspension of three companies that acquired AAA-rated assets from “a subsidiary of a private equity investor in cryptocurrency and blockchain technology, among other things.” The three companies in question, PDX Partners, Inc., Victura Construction Group, and Cherubim Interests, Inc., …

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A White House official said Friday that legislation around cryptocurrencies is unlikely to materialize anytime soon. Speaking with CNBC at the Munich Security Conference, White House cybersecurity coordinator and special assistant to the president Rob Royce offered the dour assessment amidst a recent flurry of discussion on cryptocurrency regulation, which is playing out between Senate hearings, …

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Switzerland’s finance regulator has published new guidelines that indicate it will treat some tokens sold during initial coin offerings as securities. In a press release published today, the Financial Market Supervisory Authority (FINMA) said there has been a sharp rise in the number of ICOs launching in Switzerland, resulting spike in inquiries about the regulations …

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The U.S. Securities and Exchange Commission said Friday that it has temporarily suspended trading of three companies as it looks into statements they made regarding the purchase of cryptocurrency and blockchain-related assets. The regulator announced that the trade of securities for the companies – Cherubim Investments, Inc., PDX Partners, Inc., and Victura Construction Group, Inc. – will be suspended …

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The Japanese government said today that inspections will take place at 15 unlicensed cryptocurrency exchanges in light of a recent major hack. According to the Japan Times, the country’s financial services minister Taro Aso said at a news briefing that on-site inspections will take place at the exchange providers that have filed for licenses but …

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Spain’s ruling political party is reportedly drafting legislation that it hopes will help woo cryptocurrency and blockchain companies to the country. According to Bloomberg, the People’s Party of Spain is eyeing the move as part of a package that would be focused on firms working with new technologies like 3-D printers. Yet according to lawmaker …

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On Wednesday, the U.S. Commodity Futures Trading Committee’s (CFTC) Technical Advisory Committee (TAC) held a public meeting at its Washington, D.C., headquarters. During the meeting, members of the Bitcoin and cryptoasset industry shared information regarding this emerging market and offered guidance on how the CFTC may approach regulating the space in 2018. Multiple participants in …

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The head of the Commodity Futures Trading Commission said during a Senate hearing on Thursday that any federal-level approach to cryptocurrency regulation should be “carefully tailored” to the risks involved. The comments by CFTC chairman J. Christopher Giancarlo, issued before the Senate Agriculture, Nutrition, and Forestry Committee, came days after he and Securities and Exchange …

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The Commodity Futures Trading Commission (CFTC) on Thursday issued a warning about cryptocurrency pump-and-dump schemes. The release, published Thursday, marks the latest investor warning from the U.S. commodities and derivatives regulator. Earlier this month, the agency put out an advisory that urged caution around investing in cryptocurrency retirement accounts. Other regulators, namely the Securities and …

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The Commodity Futures Trading Commission (CFTC)’s Technology Advisory Committee met today, hosting back-to-back panels on the subject of cryptocurrencies, blockchain and regulation. The meeting brought together influential figures from both the public and private sectors, with participants primarily raising issues related to markets, the regulation of the new technologies and the role of regulators in participating …

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The undersecretary of the U.S. Treasury’s Office of Terrorism and Financial Intelligence called on the international community for stronger cryptocurrency regulations to help protect the financial system and national security in a speech yesterday. Citing Venezuela’s recent introduction of the “petro” cryptocurrency as an example, Sigal Mandelker told the Securities Industry and Financial Markets Association …

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Japan’s Coincheck exchange reinstated Japanese yen withdrawals yesterday and investors are already flocking to take out their funds following the firm’s recent hack. According to a company announcement on Feb. 13, soon after Coincheck partially resumed operations on Tuesday, it had already processed 40.1 billion yen (or $373 million) in withdrawal requests from existing investors. The …

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Japan’s financial watchdog has stepped up its efforts to scrutinize foreign cryptocurrency services that target Japanese investors without a license. According to an official warning published by the Japan’s Finance Service Agency (FSA) on Feb. 13, the regulator said a Macau-based cryptocurrency service firm named Blockchain Laboratory headed by Jay Liu has been offering unregistered …

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South Korea has doubled down on its commitment to eliminating the use of cryptocurrency in illicit financial activities, while expressed a will to foster the country’s blockchain development. In a video published today, Hong Nam-ki, head of the office for government policy coordination, said the government is taking a strong stance in bringing transparency to domestic …

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The Canadian Securities Exchange (CSE) plans to launch a blockchain-based clearing and settlement platform for token sales, it announced today. The initiative will see the CSE move to list so-called “Security Token Offerings,” through which blockchain-based assets which are explicitly securities would be offered and sold. The blockchain-powered platform represents a new service area for …

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Two subcommittees in the U.S. House of Representatives will discuss potential applications for blockchain in government during a hearing on Wednesday. “Beyond Bitcoin: Emerging Applications for Blockchain Technology,” scheduled to begin on Wednesday at 10 a.m. EST, is likely to constitute a broad overview of the technology – a key first step ahead of any …

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The number of blockchain bills before the Arizona state legislature is growing, public records show. Arizona state representative Jeff Weninger introduced two measures focused on the tech last week, including one that would begin laying down ar regulatory framework for initial coin offerings (ICOs) conducted in the state. Two new bills introduced by the representative …

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Mario Draghi, president of the European Central Bank, has said it’s not his institution’s job to regulate cryptocurrencies. As part of the ECB’s #AskDraghi video series, the former Italian central banker said he has seen many users on Twitter ask if the ECB would regulate or even ban bitcoin. In response, he said: “It’s not …

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South Korea is reportedly considering a technology-specific licensing scheme as part of it proposed regulation of cryptocurrency exchanges. According to BusinessKorea, a government official involved with a virtual currency task force said Sunday that such rules, which bear a similarity to New York’s controversial “BitLicense,” introduced in 2015, could be enacted or at least debated. The source …

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