SEC and CFTC Mandarins Cautious Views on Cryptocurrencies

On 4th February 2018, the Chairman of the Securities and Exchange Commission (SEC), Mr Jay Clayton and the Chairman of the Commodity Futures Trading Commission (CFTC), Mr Christopher Giancarion appeared before the Senate Committee...

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...

Delaware taking wait-and-see approach to blockchain regulation

Governor Jack Markell issued a Press Release on Delaware stance towards blockchain tech. From a regulatory standpoint the Governor emphasised that he wants to ensure that Delaware’s: “regulatory environment is welcoming and enabling by observing...

Bill436: New Hampshire has increased the scope of MSB licensing and clarified exemptions

Bill436: New Hampshire has increased the scope of MSB licensing and clarified certain exemptions for users of virtual currency. House bill 666 (HB666) regulated money transmission services using virtual currency. This was approved in July...

“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...

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...

Wyoming State in a Race to be USA’s Friendly Home for ICOs

The US State of Wyoming legislature unanimously passed a bill that provides exemption from security regulations if they satisfy three key requirements as of July 2018. The bill states that: Except as otherwise provided by...

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...

California to launch the first US Virtual Currency Sandbox

California feels, rather than licensing virtual currency businesses, it should enroll them in a program to help the state learn more about the technology. Last year Bill 1326 was introduced to license virtual currency businesses (the Initial Bill)...

BTC-e Fined by FinCEN

  BTC-e fined for violation of US AML laws Prosecution against BTC-E Canton Business Corporation for “willfully violating U.S. anti-money laundering (AML) laws” Penalty USD$110,003,314 of which USD$12 million penalty against Alexander Vinnik one of...