Posts Tagged ‘legislation’

Initial Coin Offering Attorneys Beware, You Could Be Next!

Following the SEC’s recent initial subpoena offerings targeting ICO issuers, many believe the SEC might now turn its sights toward some of the gatekeepers involved in the subject ICOs, including the attorneys. Some attorneys practicing in the ICO space have simply been too aggressive in their approaches, or otherwise negligent in their advice to clients, drawing recent […]

Mexico Becomes Latest Country to Regulate Cryptocurrency

Mexico’s Congress has approved new legislation that will govern the country’s fin-tech sector, with special provisions that address cryptocurrencies and crowdfunding. The bill was approved by the Senate in December before making its way to the lower house for a vote. The next and final step is official sign-off from President Enrique Pena Nieto. The […]

Policing the ICO highway

Regulators around the world are struggling to grapple with increasing demand for digital tokens, partly prompted by low interest rates and diminishing margins in other markets. The valuation of most tokens is volatile, spurring concerns of an uncontrollable bubble. For some regulators, an all-out ban is the easiest way to tackle uncertainty. But what is […]

Spanish Party Weighs Tax Incentives to Lure Blockchain Firms

The People’s Party of Spain is preparing legislation including possible tax breaks to attract companies using blockchain technology. It’s in Spain’s interest to attract those firms because the technology is a driver for business in industries such as finance, health and education, said Teodoro Garcia Egea, the lawmaker preparing the bill. The People’s Party is also considering specific […]

South Korea vows firm action against illegal, unfair cryptocurrency trading

South Korea said it will take firm action against illegal and unfair acts in cryptocurrency trading after a 280,000 signature petition was sent to the presidential Blue House. “The government’s basic rule is to prevent any illegal acts or uncertainties regarding cryptocurrency trade, while eagerly nurturing blockchain technology,” Hong Nam-ki, minister of the office for […]

Russian Ministry Proposes Capital Mandates for ICO Organizers

Russia’s Ministry of Communications and Mass Media (Minkomsvyaz) has proposed a law that, if approved, would introduce a capital requirement for ICO organizers. One major element of the proposal is that ICO organizers must have at least 100 million rubles (or $1.73 million) worth of authorized capital and must be registered as a legal entity within […]

A Tale of Two Cities: SEC & CFTC Heads Testify Before the Senate Banking Committee

On February 6, 2018, the U.S. Senate Banking Committee held a hearing on the oversight role of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) in respect of virtual currencies like Bitcoin and ICOs.  The SEC views ICOs as being similar in nature to the securities it traditionally polices, while […]

The SEC Man Cometh for ICO Attorneys

The United States Securities and Exchange Commission (SEC) is expanding its focus from the companies developing initial coin offerings to the hundreds of lawyers who are guiding them through regulatory gray areas. Attorneys that intentionally misadvised clients or failed to advise disclosure that a token was a security to investors could be fined, prohibited from practicing […]

South Korean Court Rules Bitcoin Has Economic Value

The Suwon District Court in South Korea has ruled that bitcoin has an economic value for the first time. This overturned an earlier court ruling which did not recognize the digital currency. The case involves the confiscation of 191 bitcoins. View Source