Tagged: regulation

Reserve Bank of India Claims It Will Take “Hands Off” Approach to Fintech Regulation

The Reserve Bank of India (RBI) claims that it aims to adopt a “hands-off” approach to regulating Fintech companies across a nation that’s home to around 1.5 billion consumers. In addition to taking a step back from aggressively monitoring Fintechs for now, the reserve bank… Read More

U.S. Lawmakers Challenge FDIC Over Financial Innovation Engagement

Senior members of the House Financial Services Committee have formally questioned the Federal Deposit Insurance Corporation (FDIC) over its approach towards Fintech and innovation. Committee Chairman Patrick McHenry (NC-10), along with Subcommittee Chairmen Andy Barr (KY-06) and French Hill (AR-02), addressed their concerns in a… Read More

European Banking Authority Publishes Guidance on Money Laundering, Terrorist Financing for Crypto Firms

The European Banking Authority (EBA) has shared its guidance on money laundering (ML) and terrorist financing (TF) for crypto asset service providers (CASPs). All banks must adhere to strict Anti-Money Laundering (AML) and Know Your Customer (KYC) rules, and crypto firms are no different. The… Read More

48 Countries Commit to OECD’s Global Crypo Assets Tax Transparency

Forty-eight countries and jurisdictions have pledged to adopt the Organisation for Economic Co-operation and Development‘s (OECD) framework for tax transparency and information exchange regarding crypto assets by 2027. This commitment marks a significant stride in international efforts to address tax evasion in the rapidly evolving… Read More

Financial Stability Board Publishes Global Recommendations for Crypto Regulation

The Financial Stability Board (FSB) has published its recommendations for the regulation of digital assets or crypto. The recommendations are described as follows: High-level recommendations for the regulation, supervision, and oversight of crypto-asset activities and markets; Revised high-level recommendations for the regulation, supervision, and oversight… Read More

FCA Chief Executive Addresses AI and Big Tech in Speech

The Chief Executive of the UK Financial Conduct Authority (FCA), Nikhil Rathi, addressed in a speech the emergence of Artificial Intelligence (AI) and the role of Big Tech in financial services. The speech was delivered today at the Economist Impact Finance Transformed event. Rathi said… Read More

Germany: Bundesverband Crowdfunding Endorses New Legislation that Improves Liability Expectations for ECSPR Platforms

The Bundesverband Crowdfunding eV (German Crowdfunding Association) has endorsed the draft bill for the Future Financing Act presented by the German Government. Germany, the largest economy in  Europe, has yet to have a single securities crowdfunding platform approved under new EU rules. ECSPR, or European… Read More

Crypto Regulation: Digital Assets Report Published by UK All Party Parliament Group, CryptoUK Welcomes Policy Recommendations

A UK All-Party Parliament Group (APPG) has published a report on crypto or digital assets. In brief, the report states that crypto is here to stay and requires comprehensive regulation. The report is entitled ‘Realising Government’s Vision for the UK To Become a Global Hub… Read More

UK Parliament Treasury Committee Declares Crypto Should be Regulated Like Gambling

A UK Parliament Treasury Committee is calling for crypto to be regulated like gambling. This is due to significant risks to consumers as well as the heightened volatility of digital assets. Currently, around 10% of the UK population holds crypto. The Committee, which includes members… Read More

Fundraising Report: Regulation, Denominator Effect to Impact Fund Managers’ Abilities to Grow Asset Base

When the Tide Goes Out, could have long-term implications for private markets, according to a recent update from Pitchbook. A report from Pitchbook notes that asset growth from fund performance and future fundraising are the two most important variables in their estimates, and they are… Read More

Second Mover Advantage: Crypto Council Comments on UK’s Push to Regulate Crypto, Embrace Digital Asset Innovation

Yesterday, the UK government announced that it would assist the crypto industry by providing robust regulation of the emerging innovation. As industry insiders acutely understand, without clearly defined rules, risk increases, generating hesitancy and undermining acceptance of the technology. While policymakers in the US have… Read More

CCAF Publishes State of Suptech Report, Regulators Step Up Utilization of Technology to Monitor Financial Services

The Cambridge Centre for Alternative Finance (CCAF), Cambridge SupTech Lab, has published a report on the emerging arena of supervisory technology (Suptech) that aims to improve the regulation of financial services firms.  While some view Regtech and Suptech as two sides of the same coin,… Read More

Change Extending European Crowdfunding Rules Compliance Published in EU Journal

As was previously reported, the compliance date for ECSPR, or European Crowdfunding Service Provider Regulation, has been extended from November 2022 to November 2023 for all EU member states. This means that platforms intending to offer securities crowdfunding across the EU now have another year… Read More

European Commissioner Tells US to Create Crypto Rules: “We need to look at global regulation of crypto”

European Commission Commissioner for Financial Services, Financial Stability, and Capital Markets Union Mairead McGuinness, says the United States needs to pick up the pace and create bespoke rules for digital assets or crypto assets. The European Union is moving forward with its Markets in Crypto… Read More

Democrat Senator Criticizes SEC Chair Gensler on Digital Assets: “It’s time for the SEC to engage”

Last week, Senator John Hickenlooper sent a letter to SEC Chairman Gary Gensler criticizing the SEC’s inability to provide bright-line rules on digital assets. One of the most interesting aspects of the letter is that it came from a Democrat Senator who is chastizing an… Read More

White House to Warn Crypto Needs Significant Regulation: Report

The drums keep pounding louder in regards to the need to regulate cryptocurrencies – perhaps, more importantly, stablecoins which act as a proxy for fiat currency. As was reported earlier, Fed Vice Chair Michael Barr echoed the above sentiment. Today, Fed Chair Jerome Powell is… Read More

Regulation by Op-Ed: Cato Criticizes Chair Genslers Regulatory Musings on Crypto Regulation

Several days ago, SEC Chairman Gary Gensler took to the pages of WSJ.com to reflect on crypto markets and regulations. This has been a hot topic for several years now as clear-cut rules by regulators still don’t quite exist. Chair Gensler is of the opinion… Read More

Australian Government Says it Will Improve Regulations for Crypto Assets

The Australian government has announced that work is “underway on crypto asset reforms” as it aims to regulate digital assets better. In a statement by the Treasury, jointly delivered by the Honorable Jim Chalmers MP, Treasurer and the Honorable Dr. Andrew Leigh MP,  Assistant Minister… Read More

As Originally Drafted, Reg A+ and Reg CF Got it Wrong: SEC Commissioner Peirce

Last week during the meeting of the SEC Small Business Capital Formation Advisory Committee (SBCFAC), members voted to support improvements to secondary trading of crowdfunded securities – more specifically, to exempt state laws when it comes to the trading of securities under Tier 2 of… Read More

FCA Tightens Rule on Promotion of Investment Opportunities but Not Crypto (Yet)

The UK Financial Conduct Authority (FCA) has issued stronger rules in regards to promoting what is deemed to be high risk investments. As anticipated, the FCA expects firms to use “clearer” and “more prominent risk warnings.” The tactic of offering a refer a friend bonus… Read More

Send this to a friend