Uncategorized – Page 2 – FinTech and Blockchain Law Watch

When Does “Actual Delivery” of a Purchased Cryptocurrency Occur? U.S. Ninth Circuit Court of Appeals Sheds Some Light

Aug 07 2019

Back in 2018, four different courts in the U.S. held that cryptocurrencies were commodities. This did not cause a huge ripple in the cryptocurrency community because the Commodity Exchange Act does not apply to retail commodity sales if the “actual delivery” of the commodity occurs within 28 days after the execution of the transaction, and generally cryptocurrencies are delivered in merely a few days or less.

The Future of Digital Asset Regulation: Key Regulators Give Their Thoughts at the D.C. Blockchain Summit (Part 1)

Mar 12 2019

By Daniel S. Cohen

On March 6^th, the Chamber of Digital Commerce held its Fourth Annual D.C. Blockchain Summit. SEC Commissioner Hester Peirce and CFTC Chairman J. Christopher Giancarlo headlined the event. After the cheers for “Crypto Mom” and “Crypto Dad” died down, Commissioner Peirce and Chairman Ginacarlo shared their general views on next steps for digital asset regulation and principles by which regulators should oversee emerging financial technologies.

Global Financial Innovation Network Launch

Feb 11 2019

By Jonathan Lawrence

The Global Financial Innovation Network (GFIN) has been formally launched by an international group of financial regulators and related organisations. The GFIN is a network of 29 organisations of which 17 are currently offering cross-border trials for firms wishing to test FinTech products, services or business models across more than one jurisdiction. Those offering trials include the UK Financial Conduct Authority, the Australian Securities & Investments Commission, the Hong Kong Monetary Authority, the Hong Kong Securities and Futures Commission, the Monetary Authority of Singapore and the Dubai Financial Services Authority. GFIN members that are not participating in the initial trial scheme include the Consumer Financial Protection Bureau, the Abu Dhabi Global Market, the Israel Securities Authority and the Jersey Financial Services Commission.

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