Paxos Starts Blockchain Settlement of US Equities
Paxos Settlement Service announced February 20, 2020 that it has commenced P2P settlement of US listed equity trades over a private, permissioned blockchain with Credit…
Blockchain & E-Transactions Law
FINRA-DR Postpones In-Person Hearings
Securities regulator FINRA has postponed all in-person arbitration, mediation and disciplinary hearings through May 1, due to COVID-19 concerns. All other case deadlines remain unaffected. …
Social Media Crypto “Influencer” Not Above the Law
Former Louisiana deputy sheriff and Russian resident Steven Seagal agreed to a Cease and Desist (“C&D”) Order by the SEC, finding violations of the non-touting…
Proposed SEC Rule 195 Token Incubation Safe-Harbor
SEC Commissioner Hester Peirce earlier this month proposed a draft SEC Rule 195 as a safe-harbor for developmental token offerings, providing a registration exemption for…
Renegade Pandas, Competitive Regulation and a Token Safe-Harbor?
In a July 30 speech in Singapore, SEC Commissioner Hester Peirce compared renegade red pandas’ penchant for life “outside the fence” to the fin-tech innovation…
POQ No-Action Letter: DLT “Arcade Tokens” Aren’t Securities
Last week, the SEC’s Corporate Finance division issued its second no-action letter supporting a digital token issue. On July 25, 2019, the Staff agreed it…
IRS Sends Out 10,000 Crypto-Currency Tax Letters
The IRS this week announced that it is the process of sending out 10,000 letters during the next month, reminding taxpayers with crypto-currency accounts about…
State Law Fintech Roundup
As fintech and blockchain transactions continue to grow in popularity, they are receiving increased attention at the state level, whether through fintech sandboxes, crypto-friendly legislation,…
U.S. House of Representatives Launches FinTech and Artificial Intelligence Task Forces
On May 9, 2019, the House Financial Services Committee voted to establish two task forces dedicated to studying technological innovations that impact the financial services…
SEC Investor Alert on Crypto Trading Websites
The SEC recently issued an investor alert warning about crypto advisory and trading websites. The alert cautions investors to be especially wary of web-based crypto-currency…