6th Annual Summer Kickoff Mixer July 14 at SPACES, Toronto

Ethereum Rises on Positive Comments by the SEC

Crowdfund Insider | JD Alois | Jun 14, 2018

William Hinman Director Corporate Finance SEC - Ethereum Rises on Positive Comments by the SECEthereum rose dramatically today following the comments of William Hinman, Director of the Division of Corporate Finance at the Securities and Exchange Commission (SEC), who inserted a statement in a speech today that ended the question of Ethereum being a security. Hinman told an audience at Yahoo Finance in San Francisco;

“And putting aside the fundraising that accompanied the creation of Ether, based on my understanding of the present state of Ether, the Ethereum network and its decentralized structure, current offers and sales of Ether are not securities transactions.”

The reassuring comments not only helped Ethereum, but other cryptocurrencies followed higher in its wake.

CoinList co-founder and President Andy Bromberg commented on the news from the SEC that it doesn’t consider Ether or Bitcoin – for that matter, a security:

“The SEC’s recent comments are a validation of the possibility of non-securities tokens and a big step towards more definitive guidance on how and when individual tokens can be defined as non-securities. The precedent they are indicating here is a powerful one that will enable new projects to continue to flourish in the space.”

Of course, the comments by the SEC does not mean that Ethereum based initial coin offerings (ERC20 – ICOs) are in the clear. Most all of these offerings are more than likely securities when looking at recent comments by SEC Chair Jay Clayton. But what is encouraging is the fact that the agency is willing, and interested, in enabling crypto-innovation. Echoing comments by other staff members of the SEC, Hinman encouraged blockchain entrepreneurs to reach out to them before proceeding.

“We are happy to help promoters and their counsel work through these issues. We stand prepared to provide more formal interpretive or no-action guidance about the proper characterization of a digital asset in a proposed use. In addition, we recognize that there are numerous implications under the federal securities laws of a particular asset being considered a security...

Continue to the full article --> here

 

Click for News:

latest news - Ethereum Rises on Positive Comments by the SEC

 

Crowdfund Insider | David R. Burton | May 16, 2022 Passed with large bipartisan majorities and signed into law by President Obama, the 2012 JOBS Act was a bipartisan achievement of consequence. The JOBS Act substantially improved the laws governing entrepreneurial capital formation and has had a measurable positive impact on entrepreneurial capital formation. On the 10th anniversary of the JOBS Act, Senate Banking Committee Republicans under Sen. Toomey’s leadership, have released a discussion draft of new legislation, called JOBS Act 4.0, that would considerably improve the regulatory environment for entrepreneurs seeking to raise capital. In all, it contains 29 discrete pieces of legislation, many of which have also been introduced as stand-alone legislation. The package, considered as a whole, can be expected to have a very positive impact comparable to that of the original JOBS Act. These bills were discussed at an April 5th Senate Banking Committee hearing at which the author testified. Sen. Toomey is seeking public comments on how the draft legislation may be improved by June 3, 2020. Comments may be provided by email to submissions@banking.senate.gov. See:  Fintech Fridays EP57: 10 Years of Investment Crowdfunding: Past, Present & Future Since the JOBS Act The discussion draft ...
Read More
Washington  - Ethereum Rises on Positive Comments by the SEC
UK Law Society Gazette |  Jonathan Goldsmith | May 16, 2022 Warren Buffett famously said: ‘Only when the tide goes out do you discover who's been swimming naked.’ The withdrawal of nearly all Western support for Russia and Russian money has been one of history’s tide-turning moments, and among those found to be swimming naked have been solicitors. We have been hammered for our servicing of oligarchs whose money was obtained by theft, violence, corruption and other crimes. It is not good enough for us to say that others were at it, too – and that our very own government was knee-deep in the mire. We are solicitors with important values, and should examine ourselves closely in the aftermath. Having said that, which I believe needs to be said before I turn to others who bear responsibility, I consider that many governments, and intergovernmental organisations like the Organisation for Economic Development and Cooperation (OECD), need to consider their own failings, too. See:  Opinion: Rising cost of compliance may lead to consolidation I want to focus here on the elaborate structure which they foisted on us to stop the servicing of corrupt money – the anti-money laundering laws proliferating around the ...
Read More
Johnathan goldsmith - Ethereum Rises on Positive Comments by the SEC
FP | Stephanie Hughes | May 17, 2022 Swedish fintech leader Klarna Bank is planning to establish a product development and tech hub in Toronto as it looks to grow its “buy now, pay later” model in the increasingly competitive North American market.  BNPL is already starting to take off in Canada and BNPL payments are projected to grow 63.5 per cent and reach $5.9 billion in 2022 (Source: Research and Markets). Now, with more than 400,000 merchants on board and US$1.6 billion in net operating income, founder and chief executive officer Sebastian Siemiatkowski is looking to catch a ride on Toronto’s thriving tech scene and take advantage of the country’s shift into open banking. See:  Welcome to the third largest tech-hub in North America Why Canada? Klarna initially set its sights on Canada in February, when it brought its “Pay in 4” (split payment) service to Canada in February and partnered with retailers such as Harry Rosen, Mejuri and Frank And Oak as well as hundreds of others. Building a tech hub with up to 500 people would give the company a startup feel as well as a foothold in the North American market. Being part of an ecosystem ...
Read More
Klarna - Ethereum Rises on Positive Comments by the SEC
Institute of Corporate Directors | Chami Akmeemana | Mar 14, 2022 Source: Convergence.Tech New era, new capabilities Modern, digital organizations are adopting new approaches to establish the capabilities needed to solve their most significant problems. They are using the power of these maturing emerging technologies coupled with advanced process engineering to design solutions with people at the centre, using anthropological techniques, such as behavioural science and human-centred design. See:  Arca Report: DAOs – Institutional Guide to Decentralized Governance We have defined 10 key capabilities that are essential for modern, digital organizations. Credential-based Digital Identity – the evolution of traditional centralized identity solutions, such as Identity Access Management (IAM), to enable a more decentralized, self-sovereign identity (SSI)-based solution. This is the new entry point for organizations that are increasingly aware of the risks and obligations of safeguarding personal information. It is also important for participation in the open ecosystems, marketplaces and platforms that make up web 3.0 and government identity frameworks that aim to empower their citizens with portable identities. Decentralized & Open Systems – as the world moves toward more open, transparent platforms, organizations will shift from closed, linear relationships to being a part of a broader ecosystem. To do ...
Read More
10 Capabilities of Modern digital organization - Ethereum Rises on Positive Comments by the SEC
Afrotech | Josh Rodgers | May 16, 2022 Elon Musk and the acquisition of social media giant, Twitter, have caught the attention of many high-profile individuals. Whether it’s celebrities denouncing their association with the app because they disagree with him or A-listers trying to gain a piece of the pie, there is no shortage of interest around the estimated multi-billion-dollar deal. AfroTech previously reported that Meek Mill tweeted his desire to purchase shares of Twitter after the billionaire bought it. Now, LA rap legend Snoop Dogg has entered the chat, and he doesn’t just want to buy a part of it — he wants the entire thing. In a tweet from May 13, Snoop Dogg wrote, “May have 2 buy Twitter now.” See:  Snoop Dogg Reveals He’s An NFT Whale While it’s unclear whether the California rapper was serious or not, he did follow up his original tweet with some detailed plans if he were to go through with purchasing the social media platform. From changing up the board of directors to giving everyone a verified blue checkmark, Snoop’s hypothetical purchase comes with some big shake-ups. He even started the hashtag #WhenSnoopBuysTwitter to chronicle his list of ideas. With all ...
Read More
Musk and Snoop - Ethereum Rises on Positive Comments by the SEC
eMarketer | Adriana Nunez  | May 18, 2022 Mastercard’s new Biometric Checkout Program brings facial and fingerprint recognition technology to the point-of-sale (POS).  By linking consumers’ biometrics with their payment cards Mastercard can grow card volume even if a physical card isn’t present during the transaction. The program lets consumers link their facial and fingerprint biometrics to a payment card. Once enrolled in the system, customers can check out with their face or fingerprint, no cards or mobile phones necessary.  Mastercard is working with several biometric and tech firms, including Payface and Fujitsu, to roll out the program. It kicked off a pilot in Brazil, where it is trialing the tech with Payface across five St Marche supermarket locations. Mastercard plans to launch similar pilots in the Middle East and Asia. See:  How to protect your digital identity? Contactless payments have become more popular during the pandemic, as consumers opt for more touchless checkout experiences. The number of global proximity mobile payment users is expected to hit 1.345 billion in 2022, up from 1.182 billion in 2020, per Insider Intelligence forecasts. QR code-based transactions and tap-and-pay cards are also fueling contactless payment growth.  And growing fraud threats have made payment ...
Read More
biometric payment graphic - Ethereum Rises on Positive Comments by the SEC
The World Bank | Michael Geller and Arpita Sarkar | May 18, 2022 The ongoing digitization of financial services and money creates opportunities to build more inclusive and efficient financial services and promote economic development. This digital transformation presents a paradigm shift that has various policy implications, including: Foster beneficial innovation and competition, while managing the risks. Broaden monitoring horizons and re-assess regulatory perimeters as embedding of financial services blurs the boundaries of the financial sector. Be mindful of evolving policy tradeoffs as fintech adoption deepens. Review regulatory, supervisory, and oversight frameworks to ensure they remain fit for purpose and enable the authorities to foster a safe, efficient, and inclusive financial system. Anticipate market structure tendencies and proactively shape them to foster competition and contestability in the financial sector. Modernize and open up financial infrastructures to enable competition and contestability. Ensure public money remains fit for the digital world amid rapid advances in private money solutions. Pursue strong cross-border coordination and sharing of information and best practices, given the supra-national nature of fintech. Countries should embrace these opportunities and implement policies that enable and encourage safe financial innovation and adoption. Technological advances are blurring the boundaries of both financial firms ...
Read More
World Bank Report Fintech and the Future of Finance - Ethereum Rises on Positive Comments by the SEC
Guest Post | May 18, 2022 If you spend an inordinate amount of time on your phone, you’re bound to know your way around an app or two. While many of us are familiar with the likes of Facebook, Instagram, Snapchat, and others, many apps are a hindrance rather than helpful. For instance, social media may seem like a good way to kill time, but too much time spent scrolling through your newsfeed can be detrimental to your mental health. Today we’ll be looking at some of the best apps you can use to become a more interesting and knowledgeable person. Read on for more information. Nerdish Nerdish should be the first place you look if you are looking for an educational app to broaden your mind and improve your knowledge base. Available from your app store, Nerdish is a collection of informative and enjoyable articles on many different subjects, all of which are well-researched and only take 15 minutes to read. Whatever your preferences, Nerdish has got you covered. If you want to brush up on your general knowledge or learn more about your favorite topics, this app is well worth your time. Duolingo Many people wish they could ...
Read More
Mobile apps learn something new - Ethereum Rises on Positive Comments by the SEC
Chainanalysis | May 18, 2022 How Storyline reinvents investigations for web3 When Chainalysis invented blockchain analysis tools in 2014, very few people understood what was happening on Bitcoin blockchain. Transaction records were difficult to interpret and it was hard to distinguish between addresses in a private wallet and an address on a custodial exchange. Reactor solved this problem by providing an easy way to visualize relationships between on-chain transactions and real world identity. Our goal with Chainalysis Storyline is to bring this same simplicity to the more complex multi-chain world of DeFi, and make it easy for our users to comprehend the blockchains of the web3 era. See:  Hong Kong’s Web3 ‘Mr. Metaverse’ vs. Mark Zuckerberg How exactly does DeFi make cryptocurrency transactions more complicated for investigators? The core issue is chain hopping. DeFi protocols have made chain hopping easy, allowing users to switch between several different kinds of cryptocurrency in a single transaction. Cross-chain graphing in Chainalysis Reactor can mitigate much of that complexity, but tracking funds across blockchains to separate destinations can still be time-consuming. Another issue is that many seemingly simple DeFi transactions actually involve multiple smart contracts, making them appear more complex on the blockchain than ...
Read More
Chainanalysis storyline - Ethereum Rises on Positive Comments by the SEC
The Defiant | Aleksandar Gilbert | May 16, 2022 Stablecoins haven’t looked so stable recently. The United Kingdom doesn’t seem to be too worried Despite the recent collapse of Terra’s UST stablecoin, the U.K. government will move forward with proposed regulations that would facilitate stablecoins’ use  “as a recognised form of payment,” according to a report from The Telegraph. A spokesman for Her Majesty’s Treasury told the U.K.-based newspaper said: Legislation to regulate stablecoins, where used as a means of payment, will be part of the Financial Services and Markets Bill which was announced in the Queen’s Speech. Apr 5:  UK government: Sets sights on being a global hub for cryptoasset technology with flexible future regulation The UK government said in a report issued last month after more than 12 months of study: [Fiat-backed stablecoins] have the capacity to potentially become a widespread means of payment.  An amended e-money framework can deliver a consistent framework to regulate stablecoin issuance and the provision of wallets and custody services. ‘Global Hub For Crypto Assets’ Rishi Sunak, the Chancellor of the Exchequer said: We want to see the businesses of tomorrow – and the jobs they create – here in the UK,” he continued, and ...
Read More
UK global cryptoasset hub - Ethereum Rises on Positive Comments by the SEC

 


NCFA Jan 2018 resize - Ethereum Rises on Positive Comments by the SECThe National Crowdfunding & Fintech Association of Canada (NCFA Canada) is a cross-Canada non-profit actively engaged with cryptocurrency, blockchain, crowdfunding, alternative finance, fintech, P2P, ICO, and online investing stakeholders globally. NCFA Canada provides education, research, industry stewardship, services, and networking opportunities to thousands of members and subscribers and works closely with industry, government, academia, community and eco-system partners and affiliates to create a strong and vibrant crowdfunding and fintech industry. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: ncfacanada.org

Leave a Reply

Your email address will not be published. Required fields are marked *