Posts in category

Securities


The former architect of China’s central bank digital currency (CBDC) initiative has left the position to head the country’s central securities clearing house. Yao Qian, who founded the Digital Currency Research Lab at the People’s Bank of China (PBoC) last year, has now taken up the role of general manager at the China Securities Depository …

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This post was originally published here North Dakota’s securities watchdog is again taking action against ICO projects it alleges are operating illegally in the state. On Thursday, Karen Tyler, commissioner of the North Dakota Securities Department, issued cease and desist orders against three companies for offering “unregistered and potentially fraudulent securities in the form of ICOs.” …

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North Dakota’s securities watchdog is again taking action against ICO projects it alleges are operating illegally in the state. On Thursday, Karen Tyler, commissioner of the North Dakota Securities Department, issued cease and desist orders against three companies for offering “unregistered and potentially fraudulent securities in the form of ICOs.” The regulator alleged in a news …

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Everbloom, one of numerous so-called decentralized exchanges (DEXs) for cryptocurrencies that have cropped up lately, is seeking to become a licensed broker-dealer in a bid to attract institutional investors. Revealed exclusively to CoinDesk, the startup recently registered with the U.S. Securities and Exchange Commission and submitted an application for a license from the Financial Industry …

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Bank of Communications, one of the four state-owned commercial banks in China, has completed a major issuance of residential mortgage-backed securities (RMBSs) using a blockchain network. China Securities Times, the mouthpiece of Chinese financial regulators, reported on Thursday that the banking giant issued a total of 9.3 billion yuan (or around $1.3 billion) worth of …

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The Texas State Securities Board has taken emergency action against three crypto investment schemes it alleges are attempting to defraud local investors. According to a news release published Tuesday, the board’s commissioner, Travis J. Iles, entered a first emergency cease-and-desist order against Coins Miner Investment Ltd., a Russia-based cryptocurrency investment promoter that has been soliciting funds …

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A U.S. federal judge has ruled that a pair of reportedly fraudulent initial coin offerings fall under securities laws. District judge Raymond Dearie ruled Tuesday that a criminal case against a pair of allegedly fraudulent ICOs conducted by Brooklyn resident Maksim Zaslavskiy would proceed, denying the defendant’s motion to dismiss. As previously reported, Zaslavskiy has …

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U.S.-based cryptocurrency exchange Bittrex is partnering with a regulated alternative trading system (ATS) with the aim of ultimately launching trading in crypto securities. In an announcement Thursday, Bitrex said it is working with Rialto Trading, which currently offers fixed-income products for traders, to gain regulatory approval to support “blockchain-based securities,” according to a press release. …

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Unikrn, a Seattle-based e-sport betting startup that conducted an initial coin offering (ICO) last year, is now facing a class action suit that accuses it of violating securities law in the U.S. John Hastings, a Las Vegas resident and the lead plaintiff, filed the case with a court in the Washington State on Aug. 13, …

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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 …

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There’s no shortage of breathless hype about blockchain. What’s harder to find is a sober and nuanced discussion of the technology’s merits and drawbacks for a particular use case. For such a perspective, it can help to talk to different people at the same company who have been studying the matter and reached divergent conclusions. …

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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 …

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Vietnam’s securities regulator has warned industry companies and funds in the country to avoid activities related to cryptocurrencies. In an announcement this week, Viet Nam News reported Wednesday, the State Securities Commission (SSC) said firms should avoid issuance, transactions or brokerage of cryptos, adding that they must observe laws on money laundering. The warning relates to an April …

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U.S. cryptocurrency exchange Coinbase has reportedly received regulatory approval to acquire several securities firms – a move that could eventually see it supporting trading in tokens deemed as securities. A spokesperson for the exchange said on Monday that both the U.S. Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) have approved …

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A group of traditional securities firms in Thailand are planning to jointly launch a new cryptocurrency exchange, a report indicates. According to the Bangkok Post on Monday, the Association of Securities Companies (ACE) – a body that represents the country’s securities firms – said it is in talks with regulators about allowing established financial firms to …

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Regulated token trading platform Templum Markets is partnering with CUSIP Global Services (CGS) to bring securities identification numbers to tokenized assets, the companies announced Thursday. The partnership will see every token listed on the former firm’s subsidiary, Templum Markets, receive a unique CUSIP identifier to “help standardize the process of trading and tracking [tokenized asset …

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A Florida district court has published an analysis explaining how a crypto token is a security. Magistrate judge Andrea Simonton of the Southern District of Florida, in a report on whether to freeze the assets of the Floyd Mayweather-endorsed Centra Tech crypto startup, released a detailed explanation of how the company’s token demonstrates the different …

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Digital money platform Uphold is looking to become a broker-dealer in the U.S. after acquiring a registered firm called JNK Securities, it was announced Wednesday. The company has now filed with the Financial Industry Regulatory Authority (FINRA) for approval of the change of ownership to become a registered broker-dealer. Ultimately, Uphold hopes to offer security tokens, …

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Congressman Tom Emmer has praised the U.S. Securities and Exchange Commission (SEC) for clarifying that ethereum’s native cryptocurrency, ether, is not a security. As previously reported, last week, the SEC’s director of Corporation Finance, William Hinman, told the audience at the Yahoo! All Markets Summit: Crypto conference that “current offers and sales of ether are …

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A group of industry stakeholders has developed a blockchain platform to transfer collateral to central counterparties when trading securities.  Stock exchange operator Nasdaq announced Tuesday that its clearing arm, along with securities services provider ABN AMRO Clearing and financial services firms EuroCCP and Euroclear, have developed a joint proof-of-concept (PoC) blockchain platform.  The aim, according …

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