Legal – GoCoin

Derivatives Drama: The Unintended Consequences of Crypto Regulation

August 11, 2019 CryptoLeave a Comment

Noelle Acheson is a veteran of company analysis and CoinDesk’s Director of Research. The opinions expressed in this article are the author’s own. The following article originally appeared in Institutional Crypto by CoinDesk, a free weekly newsletter for institutional investors interested in crypto assets. Sign up here. Last week’s kerfuffle over the launch-that-wasn’t of LedgerX’s physically delivered futures […]

Facebook’s Libra Should Be Regulated Like a Security, Says Former CFTC Chair

July 16, 2019 CryptoLeave a Comment

Libra is a security, says a former Commodity Futures Trading Commission (CFTC) chairman in prepared remarks to the U.S. House of Representatives. Gary Gensler, who chaired the CFTC from 2009 to 2014 and previously held leadership roles at the U.S. Treasury Department, says in written testimony that Facebook’s new cryptocurrency project looks like an investment […]

Facebook Registers Secretive ‘Libra’ Cryptocurrency Firm in Switzerland

May 17, 2019 CryptoLeave a Comment

According to a Reuters report, Facebook registered a new company, Libra Networks, in Geneva on May 2. This coincides with the slow roll-out of their internal cryptocurrency that will define the company’s first foray into blockchain technology. Facebook Global Holdings is a stockholder in the new company and it will, according to Reuters, “provide financial […]

SEC Negotiations Have Cost Kik $5 Million, Says CEO

May 16, 2019 CryptoLeave a Comment

Kik’s CEO says the company has spent $5 million engaging with the U.S. Securities and Exchange Commission (SEC) over what the regulator claims was an unregistered securities sale. Kik, a messaging platform founded by Canadian entrepreneur Ted Livingston in 2010, raised $98 million in an initial coin offering (ICO) at the end of 2017 to […]

Facebook Hires Two of Coinbase’s Former Compliance Managers

May 14, 2019 CryptoLeave a Comment

Facebook hired two Coinbase veterans to work in compliance this month, and at least one of them is involved with the social media giant’s blockchain effort. Jeff Cartwright left Coinbase in March after nearly five years at the U.S. cryptocurrency exchange in various compliance roles. He joined Facebook as a policy and compliance manager this […]

SEC’s Crypto Czar Says Exchanges That List IEO Tokens May Face Legal Risks

May 13, 2019 CryptoLeave a Comment

Certain exchanges that facilitate initial exchange offerings (IEOs) may be breaking U.S. securities laws, a top Securities and Exchange Commission official has said. Speaking Monday at CoinDesk’s Consensus 2019 conference in New York, Valerie Szczepanik, the SEC’s senior advisor for digital assets and innovation, said cryptocurrency exchanges that facilitate token sales for a fee likely […]

Boston Fed Announces Plans To Design a Blockchain ‘Supervisory Node’

May 10, 2019 CryptoLeave a Comment

The Federal Reserve of Boston is starting a new blockchain experiment this summer. The Massachusetts state regulator has been one of the earliest and most involved government bodies to dip their toe into the new technology. It has been quietly developing blockchain systems since 2016 but has said very little about their plans. Now the […]

Bitfinex Covered $850 Million Loss Using Tether Funds, NY Prosecutors Allege

April 25, 2019 CryptoLeave a Comment

The New York Attorney General’s office has alleged that crypto exchange Bitfinex lost $850 million and subsequently used funds from affiliated stablecoin operator Tether to secretly cover the shortfall. According to a press release issued Thursday, NYAG Letitia James announced that she had obtained a court order against iFinex Inc., which operates both Bitfinex and […]

Coinbase’s Political Action Committee Shuts Down Without Ever Raising a Cent

April 22, 2019 CryptoLeave a Comment

Coinbase is moving to shut down its political action committee (PAC) without ever raising a cent. The San Francisco-based crypto exchange filed a Termination Report for its PAC on April 3, 2019, according to publicly available documents on the Federal Election Commission’s website (FEC). The move means that the exchange wants to shut down its PAC, […]

The Hidden Effects of Crypto Money Laundering Rules

April 21, 2019 CryptoLeave a Comment

Noelle Acheson is a veteran of company analysis and a member of CoinDesk’s product team. The following article originally appeared in Institutional Crypto by CoinDesk, a free newsletter for the institutional market with news and views on crypto infrastructure delivered every Tuesday. Sign up at the link below. Ever since Emperor Vespasian held up a […]