Another great summary of Crypto news from Robin Sosnow (@RobinSosnowEsq).
|🇺🇸 USA Regulatory Spotlight:
- 🔥🔥🔥The SEC crackdown on crypto continued this week, with the regulatory bodyissuing 80 subpoenas for cryptocurrency firms, including the $100M cryptofund of TechCrunch founder Michael Arrington. It is reported that cryptocurrency subpoenas were issued from the New York, Boston and San Francisco SEC offices. The probe is rumored to last at least a year, with Arrington stating that investor interest is slowly moving to higher-quality projects from other countries due to the “frozen” nature of US crypto regulation.
- Contributing to heightened regulatory speculation, the SEC released a statement this week directly targeting crypto exchanges. From the statement: “If a platform offers trading of digital assets that are securities and operates as an “exchange,” as defined by the federal securities laws, then the platform must register with the SEC as a national securities exchange or be exempt from registration.”
- Following news of subpoenas and the SEC statement on exchanges mentioned above, crypto exchange Bittrex claimed Wednesday that their token review process ensures that all tokens listed on the exchange are compliant with US laws and are not considered securities.
- 🔥🔥The Financial Crimes Enforcement Network, the regulatory body tasked with enforcing money laundering laws, made public a letter this week claiming that in their view anyone who sells tokens is an unregistered money transfer business. With this designation, token sales are subject to the regulations of the Bank Secrecy Act and are required to register with the federal government and collect more comprehensive information about their customers.
- Check out Polymath’s overview of PolyCon, a securities token conference, which was held last week in the Bahamas.
- TokenFest: A two-day networking event focused on tokenization. San Francisco, March 15 & 16.
- 🔥🔥🔥Crypto Invest Summit: Join industry leaders at the largest crypto expo space in the world. Los Angeles, Apr. 30-May 2. I’ll be there!
- StartEngine ICO 2.0 Spring Summit: Join Brock Pierce, chairman of the Bitcoin Foundation, and Lou Kerner, partner at CryptoOracle.io as they dive into new SEC regulatory speculation and what to expect next. Santa Monica, Apr. 20.
- Wall Street and the Internet of Money: Discuss crypto assets and their impacts on financial markets with leading experts in blockchain, investment funds, and regulation. NYC, March 22.
- Computational Law and Blockchain Festival-New York Node: Join pioneers of blockchain with tech, legal, and regulatory backgrounds-free tickets moving quickly! Brooklyn, March 17 & 18. I’ll be there!
|Equity Crowdfunding Spotlight:
Source: CrowdCrypto Newsletter – Issue #12