Category: Regulation

Heavy hitters of crypto call for users to comment on proposed FinCEN wallet rule

Coinbase is the latest company to go public with its concerns regarding the U.S. Treasury proposal on crypto wallets.

December 30, 2020
Serbia Legalizes Digital Assets Trading and Issuance

Serbia will now permit the issuance and trading of digital assets under a law that went into effect this week.

December 30, 2020
An Open Letter To FinCEN: Newly Proposed Regulations On Cryptocurrency

Policy Division Financial Crimes Enforcement Network P.O. Box 39 Vienna, VA 22183 FinCEN Docket No. FINCEN-2020-0020, RIN 1506-AB47 December 30, 2020 To Whom it May Concern: I am Ben Davenport, an entrepreneur and investor. I previously co-founded BitGo, the first non-custodial multi-sig wallet provider, and now leading provider of custodial services for cryptocurrencies. I am…

December 30, 2020
Cardano founder says XRP “not a security,” but there’s a catch

The CEO of IOHK said XRP remains clean—as of today in its current form—from the SEC despite troubles mounting for Ripple, its issuing company. XRP’s controversial past In an ask-me-anything session on YouTube last week, Cardano founder Charles Hoskinson spoke about ADA, upcoming Cardano developments, and about the ruckus surrounding the alleged unlicensed securities sale…

December 30, 2020
New York Approves Its First Publicly Available Japanese Yen Stablecoin

The New York State Department of Financial Services, the Bitlicense regulator, has authorized GMO to issue U.S. dollar and Japanese yen-pegged stablecoins. The latter “will be the first of its kind available to the public.” To date, the regulator has given out 27 charters and licenses for companies engaged in crypto activities. First Regulated Yen…

December 29, 2020
$200 Billion in Fines: Mega Banks Rack up Penalties From Illegal Activities

Top U.S. banks have racked up almost $200 billion in fines and penalties over the past 20 years from illegal activities in 395 major legal cases. Bank of America tops the list, followed by JPMorgan, Citigroup, and Wells Fargo, according to a new report, which also covers Morgan Stanley and Goldman Sachs. Big Banks’ $200…

December 27, 2020
Shark Tank’s Kevin O’Leary Warns Regulators Will Come Down Hard on Bitcoin — ‘It Will Be Brutal’

Shark Tank star Kevin O’Leary, also known as Mr. Wonderful, has warned about regulators coming down hard on bitcoin. In addition, he says that “even if bitcoin were to go up another 2,000%, it’s completely irrelevant to institutional clients.” Kevin O’Leary Warns of Brutal Bitcoin Regulation, Says Bitcoin Is Not an Institutional Product Canadian investor…

December 27, 2020
DLT Regulation in 2020: Backwards or Sideways?

Regulators are no longer standing on the sidelines of distributed ledger innovation, says Gibraltar’s Minister for Digital and Financial Services.

December 27, 2020
SEC Lawsuit: Tierion to Refund Investors From Its $25 Million Token Sale

The U.S. Securities and Exchange Commission (SEC) has taken action against another startup in the crypto space for selling unregistered securities. Tierion, which raised $25 million in a token sale, has agreed to “return money to investors” and disable the trading of its token. SEC Brings Charges Against Tierion Over Its Crypto Offering Texas-based blockchain…

December 27, 2020
US Regulator Sues Crypto Hedge Fund Founder — $25 Million in Digital Assets to Be Frozen

The U.S. Securities and Exchange Commission has filed a lawsuit against a cryptocurrency hedge fund founder for fraud. The regulator is seeking an emergency order freezing $25 million in digital assets held by a crypto hedge fund he controls. Crypto Hedge Fund Founder Sued in the US The U.S. Securities and Exchange Commission (SEC) has…

December 26, 2020