US Securities and Exchange Commission (SEC) commissioner Hester Peirce showed her concern that delays by the SEC in determining regulations for cryptocurrency may have hampered progress in the industry. Nicknamed Crypto Mom for her past words in support of the industry, Peirce was speaking at the Securities Enforcement Forum in East Palo Alto, California. Back in February, Peirce proposed that a protracted process of US crypto regulation could be positive, allowing more freedom for the industry to mature on its own.
Crypto investor and entrepreneur Michael Terpin was awarded $75.8 million in California’s Supreme Court in a civil judgment against a man Terpin claims stole cryptocurrency assets from him. He will likely need to prove AT&T contractual provisions stating they are not liable for customer losses were void once he was placed in the telco’s high-risk customer category list and still had his SIM swapped and his crypto fortune swiped.
A public settlement hearing has been filed by the Ontario Securities Commission (OSC) along with blockchain corporation NextBlock Global Limited and its CEO Alex Tapscott. The court hearing for the case filed has been decided which it will be held on May 13th and will be deciding whether an agreement reached between NextBlock and the Staff of the Commission on April 9 will be approved by the OSC.
A press release has been published to share that the government of Liechtenstein has recently passed the new regulations on the blockchain. The government of Liechtenstein has stepped up their strategy by introducing the new regulations as an effort in protecting the investors, reducing the money laundering scams cases and formalizing the existing regulations in the blockchain space.
Larry Hogan(Maryland Governor) by signing Senate Bill 136 made it into a law. This will allow companies can record stock ledgers, accompanying information and transmit certain communication through “distributed electronic networks”, including blockchain technology. But Maryland isn’t alone the states of Wyoming and Rhode Island have also pushed for laws which embrace the innovative technology.
Former chairman of the Commodity Futures Trading Commission (CFTC) Gary Gensler, at Business of Blockchain event at the Massachusetts Institute of Technology (MIT) has strongly argued in favor regulating cryptocurrency in order to grow. His view is that it is important to make sure markets are appropriately overseen and sufficiently mature, and that the chance of manipulation is small or very limited.
Diro Labs (a blockchain based Identity Firm), Panel Partners (Fintech Delivery platform), and Nuggets (a e-commerce payment co) have been allowed to join the United Kingdom’s Financial Conduct Authority (FCA) regulatory sandbox. FCA in its statement: “Examples of propositions that have been accepted include digital identity solutions, platforms which tokenize issuance of financial instruments, and services aimed at facilitating greater access to financial services for vulnerable consumers.”
A creditor has taken the London Block Exchange (LBX) to London’s High Court of Justice and has been served petition from law firm Squire Patton Boggs. Russell Hill, a partner at Squire Patton Boggs said, “We filed a winding-up petition against the company as a matter of public record for a debt we are owed. At this stage, because of ongoing litigation, it’s not appropriate for me to say anything more.” But LBX is sure the verdict will be in their favor.
Régie de l’énergie, the energy regulator of the Canadian province of Quebec, has released new rules for cryptocurrency miners. Ontario town of Innisfil, Canada, announced it is running a pilot program which will enable residents to pay property taxes with bitcoin (BTC), with possible extensions to other cryptocurrencies including ether (ETH), lite coin (LTC), bitcoin cash (BCH), and ripple (XRP) at a later date.
The CEO of Block.one, Brendan Blumer have shared his concerns regarding the failure of implementing proper cryptocurrency regulations may cost severe lost around Hundreds of Billions. Blumer has shared in his Twitter account, “Consumer trust in the system and corporations has disintegrated to degree that it’s no longer an advantage to be a big brand; people are demanding unprecedented transparency and eventual product autonomy.”