Category: US & Canada

Stonewalled by FINRA, Up to 40 Crypto Securities Wait in Limbo for Launch

THE TAKEAWAY: FINRA has sat for months on roughly 40 broker-dealer applications from companies dealing in crypto assets, denying them a broker-dealer license that would let these firms offer securities in the U.S. Some think FINRA, a self-regulatory organization, is holding off on these approvals at the SEC’s request, as the agency […]

Concerns Over Facebook Data Use Derailed at Least 3 Crypto Partnerships

Facebook’s GlobalCoin project, also known as Project Libra, may face significant hurdles as the social media giant works toward a prospective launch. Despite reports that Facebook is gearing up to reveal its new cryptocurrency as early as next week, a source with knowledge of Facebook’s operations said the project’s software […]

FINRA Fines Ex-Merrill Lynch Investment Adviser Over Crypto Mining Sideline

U.S. self-regulatory organization, the Financial Industry Regulatory Authority (FINRA), has fined and suspended an investment adviser over undeclared cryptocurrency mining activities. According to a letter of acceptance, waiver and consent published by FINRA on June 10, Kyung Soo Kim had been working at Merrill Lynch and was registered with the watchdog as a general […]

Another Satoshi: Second Copyright Filing Appears for Bitcoin White Paper

Craig Wright, the Australian entrepreneur who recently and controversially filed copyright registrations for the bitcoin white paper and original code, now has a legal rival. A second copyright registration (number TX0008726120) for the white paper has appeared on the public catalog of the United States Copyright Office, indicating that a […]

Hacked Crypto Exchange Cryptopia Files for US Bankruptcy Protection

Hacked cryptocurrency exchange Cryptopia, which went into liquidation earlier this month, has now filed for bankruptcy protection in the U.S. Cryptopia’s assigned liquidator, professional services firm Grant Thornton New Zealand, announced Monday that it has taken the step to preserve Cryptopia data stored and hosted on servers with an Arizona-based firm. […]

Public Perceptions of the Bitcoin Spot Market Are Wrong, Says Bitwise

Today’s bitcoin spot market is “significantly smaller and significantly more efficient” than is generally perceived, argues Bitwise Asset Management. In a white paper presented as comment to the U.S. Securities and Exchange Commission (SEC) on Friday, Bitwise said the quality of the bitcoin spot market and the strength of arbitrage […]

Montana Passes Bill to Exempt Utility Tokens From Securities Laws

“Big Sky Country” has gone crypto friendly, with new legislation addressing the use of utility tokens. The governor of the U.S. state of Montana, Steve Bullock, signed House Bill 584 into law earlier this month, recognizing utility tokens and exempting them from being considered as securities under local rules, with caveats. […]