Tagged: legislation

EU Draft Documents Surface Addressing Distributed Ledger Technology, Crypto-Assets

  Two draft documents by the European Parliament, Committee on Economic and Monetary Affairs, addressing distributed ledger technology (DLT or blockchain) as well as crypto-assets have emerged. The first is a draft document on the proposal for a regulation of the European Parliament and of… Read More

New Law Increases Anti-Money Laundering Efforts Including Digital Assets

The [William M. (Mac) Thornberry] National Defense Authorization Act for Fiscal Year 2021 (HR 6395) was signed into law at the beginning of this month. While the title of the law is pretty accurate as the bulk of the legislation addresses defense issues, buried within… Read More

Don’t Treat Everything Like a Financial Instrument: 5 Questions Commenters Must Consider About MiCAR (with Proposed Answers!)

MiCar: Markets in Crypto-Assets Regulation. Everyone seems to forget that blockchain is a database software at its core; better database software to be sure because it makes digitally unique items (known as “crypto-assets” or “digital assets”) possible in a transparent, auditable, and secure system, but… Read More

Oliver Gajda of the European Crowdfunding Network: An 8 Year Journey for Harmonized Crowdfunding Rules

Earlier this month, the European Union approved new crowdfunding rules, including a €5 million funding cap, that will apply to all member states finally creating a pan-European approach to online capital formation. Currently, the securities crowdfunding market in Europe struggles under bespoke national rules that… Read More

European Crowdfunding Network “Wholeheartedly” Welcomes Harmonized Crowdfunding Rules for Europe

Earlier this week, the European Union approved legislation that will harmonize securities crowdfunding rules for member states. Inclusive in the legislation is a 12-month funding cap of €5 million for issuers leveraging online capital formation. The goal is to facilitate capital formation for entrepreneurs and… Read More

European Union Approves New Crowdfunding Rules that Apply to Member States, Funding Cap Set at €5 Million

Earlier today, the European Union approved crowdfunding rules that will apply to all member states thus finally offering a pan-European approach to online capital formation while removing much of the friction in the current ecosystem that suffers from regulatory fragmentation. Industry participants, along with industry… Read More

European Commission Adopts Digital Finance Package and Legislative Proposals on Crypto-Assets

The European Commission has announced the adoption of a Digital Finance Package along with legislative proposals on crypto-assets (digital assets).  The announcement has been widely anticipated and earlier this month draft legislation pertaining to crypto-assets was leaked to the public. According to a statement by… Read More

European Draft Regulation of Crypto-Assets Seeks Innovation Friendly Approach as Usage of Blockchain in Financial Services Grows

Draft regulation crafted by the European Commission that pertains to crypto-assets (digital assets) and blockchain tech in financial services has surfaced on the web. Final legislation has been anticipated at some point this month as European policymakers seek to foster an “innovation-friendly” approach that assures… Read More

AB 2150: California’s Digital Asset Legislation is Now Just About a Mandated Study

This past May, Crowdfund Insider reported on pending legislation (AB 2150) in the state of California that may have addressed the treatment of digital assets and when they would not be considered a security. In the ensuing months, the legislation has changed – and rather… Read More

Russia: Federal Law Addresses Digital Assets, Differentiates Between Digital Securities and Digital Currencies

Russia has signed into law legislation that impacts the cryptocurrency sector. On the last day of July, the Russian President, Vladimir Putin, signed the document that introduces a legal framework for digital assets that differentiates between digital securities and digital currencies. The statute, Federal Law… Read More

These Three Elected Officials Have Commented on the SEC’s Proposed Update to the Exempt Offering Ecosystem: What Do They Want?

Months ago, the Securities and Exchange Commission (SEC) kicked off a review of the exempt offering ecosystem in an attempt to improve access to capital for younger firms while continuing to ensure sufficient investor protection. Over the years, access to capital via the public markets… Read More

Florida Governor Ron DeSantis Signs HB 1391, the State Now Welcomes Fintech Firms via its Regulatory Sandbox Program

Ron DeSantis, the 46th Governor of the US state of Florida, noted on July 2, 2020, that with the signing of HB 1391, Florida now welcomes Fintech firms that aim to “disrupt the status quo and gives them an opportunity to provide new types of… Read More

Here is the California Legislation that May Enable Digital Assets Not to be Treated as Securities

Last week, an amended bill hit the California Assembly. The legislation seeks to create an exemption for digital assets to be treated as securities. To quote AB 2150: “Existing law, the Corporate Securities Law of 1968, provides for the regulation of the issuance of corporate… Read More

Don’t Touch That! Proposed US House Legislation Removes Signature Requirement at Point of Sale

We have all read the articles about how physical cash is pretty gross. This has been a well-known fact for years. A study from 20 years ago on the bacterial contamination of paper currency showed that 94% of dollar bills tested carried many pathogens including… Read More

European Commission Plans Crypto-Asset Legislation in Q3 of 2020

The European Commission (EC) intends on publishing possible legislation for digital assets or crypto-assets in Q3 of 2020. This is according to a statement Executive Vice-President Valdis Dombrovskis on behalf of the EC. The reveal was squirreled away in a European Parliament question page. The statement… Read More

Everything but the Kitchen Sink: Buried within the Democrats Proposal for COVID-19 Response is a Digital Dollar Requirement

This probably should come as no surprise. As the economy dives and the Coronavirus spreads across the US, elected officials in Washington, DC struggle to agree on a relief package. It has been reported that Republicans and Democrats had come to terms on a bailout… Read More

Senator Klobuchar Proposes Bill to Boost Entrepreneurship with Government Investment Fund

The New Business Preservation Act. Senator Amy Klobuchar, fresh off the Presidential campaign trail, has introduced legislation to help boost entrepreneurship and SMEs during a time when the economy is being pummeled by the Coronavirus pandemic (COVID-19). Senators Chris Coons and Tim Kaine have co-sponsored… Read More

Crowdfunding to Combat the Coronavirus Act: Proposed Legislation Creates $1 billion Prize to Crowdfund COVID-19 Vaccine

Representative Patrick McHenry, Ranking Member on the House Financial Services Committee, has proposed legislation to crowdfund a vaccine for the Coronavirus entitled “Crowdfunding to Combat the Coronavirus Act.” The bill creates a $1 billion prize for anyone that develops a vaccine for COVID-19 that is… Read More

Milken Institute Tracks 108 Fintech Related Bills in the US Congress

The Milken Institute has published a deck tracking legislation in the 116th Congress that directly impacts Fintech. Jackson Mueller, Milken Institute Fintech lead and author of the report, told Crowdfund Insider, “For all the political divisiveness that we hear about on a daily basis, members… Read More

Morocco Pursues Crowdfunding Legislation: Report

Morocco has adopted a bill to create a legal framework for crowdfunding according to a report on Media24. The legislation is designed to: “… contribute to the mobilization of new sources of funding for the benefit of very small, small and medium-sized enterprises and young people… Read More

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