Politics, Legal & Regulation

February 3, 2025 @ 1:02 pm By JD Alois  |  

Secretary of the Treasury Scott Bessent is picking up another leadership role as President Donald Trump named Bessent Acting Director of the Consumer Financial Protection Bureau (CFPB). As Bessent steps in, Rohit Chopra, the Director under the Biden Administration, is now without a job. Bessent… Read More

February 3, 2025 @ 10:22 am By JD Alois  |  

The Securities and Exchange Commission (SEC) has been criticized in the past for being overly aggressive in its enforcement actions. It should come as no surprise that regulators are going to regulate, and the SEC sometimes appears to be a hammer looking for a nail… Read More

February 2, 2025 @ 6:26 pm By Omar Faridi  |  

ASIC has recently written to superannuation trustees urging them to strengthen anti-scam practices, or risk ex”posing members to harm.” The open letter, which is reportedly signed by ASIC Commissioner Simone Constant, outlines their guidance for superannuation trustees in “preventing, detecting and responding to scams and… Read More

January 31, 2025 @ 1:45 pm By JD Alois  |  

Yesterday, the Consumer Financial Protection Bureau (CFPB) issued a statement pertaining to an enforcement action against global Fintech Wise. The action arrived with a $2.5 million penalty for the firm. The CFPB claims that Wise failed to serve consumers sufficiently as it misled US customers… Read More

January 31, 2025 @ 11:27 am By JD Alois  |  

The UK Financial Conduct Authority (FCA) is pursuing rules that aim to make it easier for listed companies to issue bonds and investors, including smaller ones, to invest in these assets. The FCA explains that it would like to encourage listed firms to issue bonds… Read More

January 30, 2025 @ 5:32 pm By JD Alois  |  

UK-based Fintech Wise (LON: WISE) has been penalized by the Consumer Financial Protection Bureau (CFPB). Wise has been ordered to pay $2.5 million for claims of failing to provide disclosures to consumers. The $2.5 million is split between $450,000 in redress for impacted individuals and… Read More

January 30, 2025 @ 3:01 pm By JD Alois  |  

The SEC Small Business Capital Formation Advisory Committee (SBCFAC) will meet next month on February 25th. This Committee is tasked with advising the Commission on issues and policies impacting smaller firms while making recommendations on how to improve the ecosystem. Today, the SBCFAC released the… Read More

January 30, 2025 @ 1:58 pm By JD Alois  |  

Several years back, the European Union approved the European Crowdfunding Service Providers Regulation (ECSPR), which enabled issuers to raise funds across all EU member states. Under the rules, an issuer could raise up to €5 million for an offering listed on a regulated securities crowdfunding… Read More

January 29, 2025 @ 9:38 pm By Omar Faridi  |  

A recent case involving Frank Richard Ahlgren III, a Texas resident, has marked a significant milestone in the realm of cryptocurrency taxation, according to an update from Chainalysis. Chainalysis noted in a report that in December 2024, Ahlgren was sentenced to two years in prison… Read More

January 29, 2025 @ 3:36 pm By JD Alois  |  

There was little new today emerging from the US Federal Reserve announcement as it decided to hold rates steady, matching market expectations. The Fed decided to maintain the target range for the federal funds rate at 4-1/4 to 4-1/2 percent. The FOMC [Federal Open Market Committee]… Read More

January 29, 2025 @ 12:46 pm By JD Alois  |  

The Senate Banking Committee has posted its list of witnesses for next week’s hearing on the Debanking that took place during the Biden Administration. The following individuals will be sharing their experiences in regard to losing access to the banking system: Nathan McCauley, CEO &… Read More

January 29, 2025 @ 7:50 am By Omar Faridi  |  

A London-based financial services startup, Stenn Group, has reportedly entered administration, leaving creditors facing losses of over £100 million. The company, which specialized in invoice finance, had been under investigation by HSBC, its lender, following allegations of links to a Russian money laundering case. As… Read More

January 28, 2025 @ 12:28 pm By JD Alois  |  

The CfPA, or the Crowdfunding Professionals Association, is touting potential legislation aiming to boost the utilization and benefits of Reg CF or Regulation Crowdfunding. The proposed legislation, supported by the Coalition for Crowdfunding American Jobs and Prosperity (CCAJP); the Targeting Resources to Unleash Market Prosperity… Read More

January 28, 2025 @ 11:09 am By Omar Faridi  |  

Danielle Sassoon, the United States Attorney for the Southern District of New York, announced that PEKEN GLOBAL LIMITED, a Seychelles-based entity that, since at least September 2019, has operated KuCoin, one of the largest cryptocurrency exchanges, pled guilty to “one count of operating an unlicensed… Read More

January 28, 2025 @ 10:14 am By JD Alois  |  

The UK government is looking to alter how defined benefit pension plans are managed by allowing excess funds to be funneled to private firms. This should also help boost economic growth in an economy that needs a bit of help. Today, Prime Minister Keir Starmer… Read More

January 28, 2025 @ 8:21 am By Tony Zerucha  |  

In the early days of his second administration, Donald Trump wasted little time capitalizing on the current cryptocurrency craze, one he’s helped to create. Trump launched the $TRUMP meme coin, whose value soared by more than 300% in less than a day. $TRUMP’s market cap… Read More

January 27, 2025 @ 5:57 pm By Omar Faridi  |  

Ohio is taking a significant step towards embracing digital assets, with a new strategic crypto reserve bill (House Bill No. 18) that’s gained praise from former presidential candidate Vivek Ramaswamy. The bill, which has reportedly been introduced by State Representative Steve Demetriou, would allow the… Read More

January 27, 2025 @ 5:41 pm By JD Alois  |  

There have been many reports of “Debanking” taking place during the Biden Administration. At times, these reports focused on crypto-related firms that saw their accounts closed by banks – typically with little notice. There have also been reports of Debanking taking place for political reasons…. Read More

January 27, 2025 @ 4:08 pm By Tony Zerucha  |  

Donald Trump’s inauguration has generated speculation on a range of financial issues. Continue reading for a selection of industry commentary. Cryptocurrency “The most important development will be the legal certainty that comes from a more friendly US regulatory regime. We are now likely to see… Read More

January 27, 2025 @ 1:19 pm By JD Alois  |  

ICAN, or Investors Choice Advocates Network, is a non-profit that advocates on behalf of underserved investors and those individuals deemed to be unfairly targeted by the Securities and Exchange Commission. ICAN supports investors’ rights, which sometimes suffer from too much government and too little freedom…. Read More