How will blockchain tech affect Transfer Agents? The SEC wants to know

The SEC is inviting comment on its proposal for Rulemaking on Transfer Agents. A Transfer Agent is a US term to denote a financial institution assigned by a publicly trading company to maintain records of shareholders,...

Don’t forget to register with FinCEN if you are a foreign digital currency exchange

Sometimes there is a misconception that if you are based outside of the US and operating a digital currency exchange with US customers that there is no requirement to comply with US rules. That is...

Federal Reserve prepared to endorse regulatory changes if blockchain proves itself

Governor Lael Brainard (a Governor of the Federal Reserve) gave a speech at the Institute of International Finance Blockchain Roundtable, Washington, D.C. on  April 14, 2016 where he showed overall an interest in blockchain...

CFTC Commissioner advice to regulators regarding blockchain technology: “Do No Harm”

CFTC Commissioner Christopher Giancarlo gave a speech at the end of March to the Depository Trust & Clearing Corporation where he compared blockchain technology to the internet. He created a corollary between no regulatory intervention with...

Miami CSI – Bitcoin entrapment 101

US undercover agents regularly adopt overt criminal pretexts for the purchase of bitcoin to see who will fall in the snare. It is quite apparent, that the problem with money laundering regulation is that...

SEC Chair Mary Jo – Blockchain to Replace Trading, Clearing and Settlement Systems

SEC Chair Mary Jo White gave an interesting Keynote at the SEC-Rock Center on the 'Protection of Investors in an Innovative Marketplace'. She spoke of 'unicorns' ($1bn companies) and the alchemy of valuations and the...

Bitcoin: ‘property’ or ‘currency’ a 1.3m US dollar question?

US bankruptcy case where Trustee for failed company HashFast is seeking 3000 bitcoins back from Lowe (who was a promoter of HashFast). If Trustee is successful in proving bitcoin is a commodity and or property...

Consumer protection or consumer benefits – CATO Institute

Dana Syracuse, one of the draftsmen of the Bitlicense, made an interesting point at the recent CATO Institute conference on blockchain that focusing on "consumer protection can cause lawmakers to overlook consumer benefits, especially benefits...

“The Times They Are A Changin’” – tax enforcement against cryptoexchanges is the new...

The United States Internal Revenue Service (IRS) has requested details on Coinbase’s users to identify any tax violations. This action seems to have arisen as a result of US Treasury reprimanding the IRS for not...
https://www.flickr.com/photos/lendingmemo/11702685083/in/photolist-iQ8jyt-9f2zVa-rn4MxA-9f2zRR-bb3f8k-q6QgE3-89BpxG-9f5Ji7-8NLEmR-8PKTui-yTo3Y-mRYkeZ-8nkQLA-89Bqn3-3gGWAT-bxkzjx-5cKvCX-5cPQT5-4YpSFF-jKGJL4-rPmKi-cxdddL-z4zmg-5vL77V-jKP59E-9f5JgG-9f2Ahp-9f5Jb3-9f5J61-9f2A3M-9f5HT1-89BqMS-oZusdb-9f5J2C-84tcmM-7dLyhw-mUn8Dh-mUn8vw-mUn8gd-mUkgkc-mUk8Uc-mUkga2-mUkg6p-mUk8Bi-mUn7C9-mRYkFk-mRYbeB-mRYb9g-mRYb8e-mRZXq5

CFTC ruling that bitcoin and digital currency are commodities

Recent action brought against Coinflip by the CFTC clarifies definition of digital currencies as 'commodities'. The CFTC states: "Bitcoin and other virtual currencies are encompassed in the definition and properly defined as commodities". The Coinflip platform...