Posts Tagged ‘regulation’

India Mulls GST On Trading Of Virtual Currencies

India may levy Goods and Services Tax on cryptocurrency trading, even as there’s lack of clarity about their legal status in the country. The government may levy an 18 percent GST, people with direct knowledge of the matter said requesting anonymity as they weren’t authorised to speak to the media. The proposal, being considered by […]

Cryptocurrency is Property in Russia, Justice Minister Confirms

A bankruptcy case involving a modest amount of bitcoin has sparked discussions in Russian legal circles. Some say a crypto is nothing more than “a set of characters.” Others, including Russia’s Justice Minister Alexander Konovalov, are categorical – cryptocurrency falls under the legal category of “other property.”  The question about the status of cryptocurrencies in […]

Thailand Introduced Legal Framework, But Players Don’t Know How to Comply

On Sunday, May 13, Thailand joined a pool of countries that have introduced regulatory frameworks regarding cryptocurrencies. The 100 section law, published in the country’s Royal Gazette, defines cryptocurrencies as digital assets and digital tokens that fall under the regulatory jurisdiction of the Thai Security Exchange Commission (TSEC), making it the main policeman of crypto […]

Policymakers must regulate fintech to minimize risks, maximize contribution to society

Policymakers and regulatory bodies must formulate regulations to make sure that the fintech sector complies with security standards as well as contributes to society’s greater good. That conclusion was reached by a group of panelists at summit organized by the Indonesian Venture Capital and Startups Association (Amvesindo) and the Ministry of Communications and Information and […]

Brazil central bank liquidates Banco Neon in fintech setback

Brazil’s central bank liquidated small lender Banco Neon SA on May 4 due to a breach of regulations, and suspended operations of an associated tech startup that had raised $22 million in venture capital the day before. Neon Pagamentos SA – a fintech startup that used the infrastructure of Banco Neon to process checking accounts […]

Central Bank of Sri Lanka preps fintech sandbox

The Central Bank of Sri Lanka aims to establish a Sri Lankan FinTech Regulatory Sandbox with the objective to encourage and enable FinTech initiatives that promote efficiency and increase access to financial products and services. A FinTech Regulatory Sandbox provides a safe space in a controlled environment for selected innovators to test their products and services, […]

U.S. judge dismisses state regulators’ lawsuit over national ‘fintech’ charter

A District of Columbia federal judge dismissed a lawsuit brought by state bank regulators against the U.S. Comptroller of the Currency over its proposal to offer charters that would let so-called fintech companies do business nationwide. Since the OCC has not reached a final decision on the fintech charters, the claim of harm by the […]

New initiative to fast-track Fintech patent application-to-grant process in Singapore

The Intellectual Property Office of Singapore has launched a new Fintech Fast Track initiative which provides expedited patent application-to-grant process for Fintech inventions. Under this initiative, Fintech patents will be granted in as quickly as six months, compared to at least two years for normal applications. This will support the growth of Singapore’s Fintech sector by helping businesses bring […]

Initial Coin Offerings: The Badlands Between Innovation and Regulation

Regulation is inherently reactive, and is an intrinsic response to innovation. The natural cycle of regulation begins with innovation, which is often misunderstood and foreign to regulators, and is followed by a period of bureaucratic interpretation and finally by enforcement. The SEC is now prepared to aggressively tackle the issues/violations associated with ICOs, hence the […]

ICO Attorneys Felix Shipkevich And Stefan Savic Presenting Strafford CLE

Shipkevich ICO attorneys will be presenting a 90-minute Strafford CLE live webinar on virtual currency and regulations on Wednesday the 18th at 1:00 pm. The lecture titled “Cryptocurrency: Evolving Regulatory Landscape, Recent SEC, CFTC, FinCEN, IRS Enforcement Actions,” will update current regulations of cryptocurrency and how their enforcement actions will affect companies invested in ICO […]