Blockchain, Privacy and Encryption: A New Zealand Perspective
Legislative requirements relating to privacy, publication of certain types of content, and destruction of records are likely to create issues for organisations interested in implementing Blockchain-powered solutions. Liz Blythe and Angus Hancock, Russell McVeagh
Legal Professionals' Key Involvement in the Escrow System for Funds Raised During an Initial Coin Offering (ICO)
Following France's PACTE law a procedure for obtaining a visa for any public ICO has been provided for by the Financial Markets Authority (AMF), which requires issuers to set up a procedure to secure funds.
The Visa Delivered by the French Financial Regulator (AMF) to Issuers of Initial Coin Offerings (ICOs)
The PACTE law introduced a specific regime for ICOs, providing for an optional approval/visa issued by the AMF. This new regime does not apply to STOs, but exclusively to the issuance of so-called "utility tokens".
Chile Announces Bill for the Regulation of Fintech and Cryptocurrencies
Recognising the importance and potential of alternative financing and the provision of financial services using technological means, Chile's Minister of Finance, Felipe Larraín, has announced the sending to Congress of a bill to regulate cryptocurrencies and Fintech.
The Reserve Bank of India Publishes Framework for FinTech Regulatory Sandbox
The Reserve Bank of India (RIB) has announced in a statement of 18 April 2019 the terms of its regulatory sandbox relating to FinTech. The proposed Regulatory Sandbox will accept Blockchain but exclude Cryptocurrencies and ICOs.
Defense Strategies Institute Presents Blockchain & Automated IT For Government Summit, April 24-25 2019, Washington DC
The 2019 Summit will provide a forum for members of the US Department of Defense, Federal Government, Private Industry, Academia, and other stakeholders to discuss the innovative applications of blockchain and emerging automated IT technologies.
US Securities and Exchange Commission Issues Statement on “Framework for ‘Investment Contract’ Analysis of Digital Assets”
As part of its effort to assist parties seeking to comply with U.S. federal securities laws, the SEC's FinHub has published a framework "for analyzing whether a digital asset is offered and sold as an investment contract, and, therefore, is a security."
Hong Kong’s Securities Regulator Issues Statement on Security Token Offerings
The Securities and Futures Commission (SFC) statement of 28 March 2019 reminds parties of the legal and regulatory requirements applicable when engaging in security token offerings (STOs) and reminds investors to be aware of the risks associated with virtual assets, such as tokens.
Swiss Federal Council to develop proposals for the regulation of cryptocurrencies
The Swiss Federal Council today announced in a press release its aim to develop proposals for the regulation of cryptocurrencies by the end of Spring 2019. Once again the objective is to avoid fraud and to minimise the associated risks.
Canadian Securities Administrators and Investment Industry Regulators Propose Crypto Framework
The Canadian Securities Administrators (CSA) and Investment Industry Regulatory Organization of Canada (IIROC) have jointly published a Consultation Paper to 'establish a framework that provides regulatory clarity to Platforms, addresses risks to investors and creates greater market integrity'.
ESMA Chair Steven Maijoor in favour of supporting new crypto-asset regulation
In his keynote speech at the 3rd Annual FinTech Conference (Brussels, 26 February 2019), the Chair of the European Securities and Markets Authority addressed issues of existing regulation and spoke in favour of supporting new regulation of crypto assets.