Just How Badly Will the U.S. Crypto Crackdown Hurt Bitcoin?

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Following U.S. Treasury Secretary Steve Mnuchin's warning that the federal government will pursue "very, very strong" enforcement of existing cryptocurrency regulations, various federal agencies and self-regulatory organizations have started to take a step further in tightening oversight on the budding bitcoin industry. Regulators are starting to increase enforcement, will crypto sector improve...

Crypto Mom Bemoans 'Regulatory Escape Room' Feel for Crypto

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U.S. regulators FINRA and the SEC have put out a joint statement explaining why they have yet to approve applications from crypto exchanges such as Coinbase and Gemini requesting to receive licenses to operate as broker-dealers alongside their custody services. The statement comes in the wake of fraying patience and grumblings among key players in the crypto industry who have been stuck in an...

FINRA Throws Shade on the 'SAFT' ICO Framework


The Financial Industry Regulatory Authority (FINRA), a Washington-based self-regulatory body, has cautioned investors to beware of ICOs touting their adoption of the SAFT (Simple Agreements for Future Tokens) framework as evidence of investment security or regulatory compliance. SAFT Background The warning, which appears in its August 16, 2018 Investor’s Alert publication addressing potential ICO...

Coinbase Walks Back Claim That SEC Approved Trio of Acquisitions


Cryptocurrency exchange and brokerage giant Coinbase has walked back a claim that it had received explicit approval from the U.S. Securities and Exchange Commission (SEC) to acquire three companies as part of its future plans to list cryptocurrencies that are deemed securities under federal regulations. As CCN reported, the San Francisco-based company had announced earlier this week that it had...

U.S. Regulators Approve Coinbase Acquisitions, Removing Another Roadblock to Listing Security Tokens


Coinbase Inc., has announced that the U.S. Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINFRA) have approved its purchase of three companies that will help pave the way for the cryptocurrency exchange and wallet service to offer security tokens in the future under federal oversight, pending further steps including regulatory approval to list specific...

U.S. Finance Watchdog Takes Aim at Cryptocurrency


The Financial Industry Regulatory Authority (FINRA), a self-regulatory body for broker-dealersm has released a regulatory notice to mandate its member to notify the authority if  they engage in any cryptocurrency activity. Though the notice outlines what constitutes cryptocurrency activities, it does not detail how FINRA would use these disclosures nor does its website show any explanation. Since...

Crypto Service Uphold to Launch Securities Division, List ICO Tokens


Cryptocurrency-based financial services platform Uphold has announced that it will launch a securities division and begin listing initial coin offering (ICO) tokens, a move that was made possible through the acquisition of a licensed broker-dealer. Uphold to List ICO Tokens The firm, which has offices in four countries and serves customers in more than 180, on Wednesday announced that, pending...

Breaking: Coinbase ‘On Track’ to Receive SEC Registration, List Blockchain Securities

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Cryptocurrency industry giant Coinbase on Wednesday announced that it is “on track” to register with the US Securities and Exchange Commission (SEC) as a broker-dealer, a move which would allow it to list cryptoassets that the agency deems to be securities. In a statement attributed to Coinbase President and COO Asiff Hirji, Coinbase revealed that it has acquired a broker-dealer license, an...

Tezos Founder Sanctioned by Regulator for Allegations of Past Misconduct


Tezos co-founder Arthur Breitman has been sanctioned by a top Wall Street regulator in connection with allegations that he violated regulations for securities professionals while working at Morgan Stanley. According to Reuters, the Financial Industry Regulatory Authority (FINRA) -- a self-regulatory organization -- on April 18 fined Breitman $20,000 and has prohibited him from associating with...