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The United States Securities and Exchange Commission (SEC) has announced that Centra Tech Inc. co-founder, Raymond Trapani, has been charged with fraud charges resulting from the SEC’s investigations into Centra’s controversial $32 million USD initial coin offering (ICO). Mr. Trapani is the third and final Centra co-founder to be charged for having a role in … Read more
Former Obama administration financial regulator Gary Gensler believes cryptocurrencies such as ether and ripple appear as unregistered securities, and in current violation of the law. His comments carry considerable weight in the broader financial community. They also come after venture capitalists and lawyers invested in ether projects met secretly with the US Securities and Exchange … Read more
The hacked Japanese cryptocurrency exchange Coincheck has officially been acquired by one of Japan’s largest online brokerage firms. Monex Group has outlined its plans of reviving Coincheck and the risks associated with the acquisition. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space Acquisition Completed Coincheck has officially become a wholly-owned subsidiary of Monex Group … Read more
An often overlooked hurdle in the formulation of legislative apparatus for cryptocurrency is the challenge of adapting cryptocurrency to the classifications and language of financial regulations. Also Read: Research Paper Declares Bitcoin Compliant With Shariah Law Language Barrier Between Regulators and Crypto Community A recent article authored by Jonathan Chester, the chief executive officer of Bitwage, … Read more
This week the Philippines Securities and Exchange Commission (SEC) revealed to the public that it plans to enforce securities regulations against cloud mining operations. According to the SEC’s statement, the regulatory agency believes these types of contracts should be defined as “securities.” Also read: ‘Cryptomatoes’ Using Excess Mining Heat to Grow Produce Philippines Securities and Exchange … Read more
Who better to learn about Fintech from than NASAA President and Director of the Alabama Securities Commission Joseph Borg? I sat down with Joe for a lengthy discussion about what millennials and baby boomers need to know about the fintech space. 1. Technology Outruns Regulation, Always “The crossroads between financial services and technology, a la fintech, is the … Read more
The European Securities and Markets Authority (ESMA) has announced that it will impose restrictions on the leverage offered for contracts-for-difference (CFDs) and binary options offered to European retail investors. Under the new measures, the leverage offered on cryptocurrency CFDs will be limited to no more than 2:1. Also Read: PBOC to Strengthen Cryptocurrency Regulations in 2018 … Read more
The Thai cabinet has approved a draft decree to regulate cryptocurrencies and initial coin offerings. The definition of digital assets has been modified from the previous draft but the tax structure remains. All crypto businesses must obtain licenses and report information to the anti-money laundering office. Also read: Japan’s DMM Bitcoin Exchange Opens for Business With … Read more
Israel Securities Authority (ISA) Committee for the Examination and Regulation of Initial Coin Offerings (ICOs) issued a series of “recommendations designed to dispel uncertainty and strike a balance between technological innovation and the protection of the investors.” Included in their findings were whether cryptocurrencies such as bitcoin are considered securities – a decision carrying major … Read more
TMX Group, the operator of the Toronto Stock Exchange, has announced it’s launching a cryptocurrency brokerage platform. The service will be offered through its Shorcan Digital Currency Network subsidiary and focused on bitcoin and ethereum. The project will be implemented in partnership with the local fintech startup Paycase Financial Corp. Also read: Israeli Crypto Companies … Read more
