Mitigating the Legal Risks of Issuing Securities on a Cryptoledger
While in the long-run there will likely be new opportunities that open up, below are real, present risks involving the cryptocurrency world, especially with those individuals developing appcoins and crowdfunding/crowdequity platforms. For instance, section III of the JOBS Act has not been written up, let alone implemented. As a Swiss friend in finance likes to remind me: Rule #1 of Bitcoin: do not believe any news about Bitcoin -- always do your own research. And in this case, talk to an attorney. In the event of lawsuits, not everyone has enough money to live abroad and permanently hang....
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"The United States must have a plan in place to protect our financial systems from the risks of [El Salvador's] decision," said Representative Norma Torres. Two members of the House of Representatives have introduced legislation aimed at mitigating the risks to the United States financial system due to El Salvador adopting Bitcoin as legal currency.In a Monday announcement, California Representative Norma Torres and Arkansas Representative Rick Crawford proposed legislation which would direct the State Department to create a plan mitigating the potential risks to the U.S. financial system....
In a Form S-3 filed with the SEC on November 10, Overstock.com sought approval to issue up to $500 million in new securities "from time to time" in the form of common stock, preferred stock, depositary shares, warrants, debt securities or units. But approval of this S-3 is in not an immediate sign that Overstock is issuing any securities. "This prospectus provides you with a general description of the security we may offer," Overstock wrote in its S-3. "Each time we sell securities, we will provide a prospectus supplement that will contain specific information about the terms of that....
The United Arab Emirates (UAE) is getting closer to issuing a regulatory and supervisory framework that will govern the country’s virtual asset industry, the Securities and Commodities Authority (SCA) has said.
FATF Recommendations
A UAE securities regulator, the SCA has said it is getting closer to “issuing the regulatory and supervisory framework related to virtual assets issued for investment purposes.”
In addition, the regulator revealed in a statement that it had consulted the “concerned authorities” during the development of....
Pennsylvania is joining increasing number of U. S. states issuing warnings on digital currencies. The Pennsylvania Department of Banking and Securities today released an announcement urging consumers, businesses, and investors to consider the risks of getting involved with digital currencies - namely bitcoin and litecoin. "These virtual currencies - unlike U. S. dollars - are not backed by tangible assets or the full faith and credit of the U. S. government, and currently are subject to little or no regulation in any country," said Glenn Moyer, Secretary of Banking and Securities. "In....
The Securities and Commodities Authority (SCA) has stated that the United Arab Emirates (UAE) is moving closer to providing a regulatory and supervisory framework that will control the country’s virtual asset business. The Securities and Commodities Authority (SCA), a UAE securities regulator, has stated that it is close to “issuing the regulatory and supervisory framework […]