In its newly issued set of guidelines for digital payment token (DPT) providers, the Monetary Authority of Singapore has barred them from marketing their services in public areas. The guidelines, issued on Jan. 17, prohibited DPT companies from advertising their services in public places such as public transportation, public transportation venues, public websites, social media platforms, broadcast, […]

Read full post The Monetary Authority of Singapore bars crypto service providers from advertising in public places. on Chaintimes.com.

Big Four accounting firm EY has recommended that banks should change their regulatory perimeter to address the oncoming launches of central bank digital currencies (CBDC) and private stablecoins. EY’s 2022 Global regulatory outlook highlighted the need for a policy change to help financial services firms overcome business uncertainties amid mainstreaming digital assets and cryptocurrency. More […]

Read full post EY highlights the need for a policy change for banks regarding CBDCs and stablecoins. on Chaintimes.com.

Michael J. Hsu, the Acting Comptroller of the Office of the Comptroller of the Currency (OCC) has advocated that regulators should collaborate with major crypto intermediaries in order to get a grasp of how the ecosystem functions. (Read More)

Article prepared by and republished courtesy of our colleagues Larry W. Nishnick, Bradley E. Phipps, Kevin R. Bettsteller, Brittney Bennett and David Kurlander; originally published here:  https://www.dlapiper.com/en/us/insights/publications/2020/09/sec-adopts-changes-to-accredited-investor-definition/

The SEC recently adopted amendments to the long-standing definition of “accredited investor,” an important qualification standard under the securities laws that determines what types of investors may invest in certain kinds of private securities offerings, including securities offerings to natural persons and entities conducted pursuant to Rules 506(b) and 506(c) of Regulation D under the Securities Act of 1933 and “qualified institutional buyers” for Rule 144A under the Securities Act and other important federal and state securities law exemptions.  The final rule adopted by the SEC is substantially similar to the proposed rule with a few teaks based on comments it received as part of the adoption process.

The current definition of “accredited investor” has been in place without any significant update since 1985. At a high level, the rule broadens the categories of individuals and entities that qualify by adding categories of eligibility based on their professional knowledge, experience or certifications and allows these investors to further qualify as “accredited investors” thereby making them eligible to participate in private capital markets. The stated purpose of the amendments is to “update and improve the definition to more effectively identify institutional and individual investors that have the knowledge and expertise to participate in those markets.”  Ultimately, the amendments allow individuals and entities to participate in private capital markets not only based on their income or net worth, but also based on established, clear measures of financial sophistication.…
Continue Reading SEC adopts changes to “accredited investor” definition

A new report by financial services giant Fidelity claims that countries which adopt Bitcoin early will be better off than their competitors.  According to the report, Fidelity researchers believe a form of game theory is emerging on an international level between countries, with early adopters of Bitcoin poised to benefit the most.  The report reads,  […]

The Commission also indicated that the names involved will be reported to the Bureau of Internal Revenue (BIR) so that the appropriate penalties and/or taxes be correspondingly assessed.

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The Hong Kong Monetary Authority (HKMA) has published a discussion paper in which it is soliciting the public’s contributions to its proposed regulatory approach to digital currencies and stablecoins. (Read More)

Minister of Health Khairy Jamaluddin says the government will review the Dangerous Drugs Act and the Poisons Act to regulate the medical use of marijuana and ketum. The government will review the Dangerous Drugs Act 1952 and the Poisons Act 1952 to regulate cannabis and ketum for medical use, Health Minister Khairy Jamaluddin said. Cannabis, or […]

MicroPort CRM, a pioneering company in the field of Cardiac Rhythm Management, headquartered in France, recently received PMDA Japanese regulation agency approval for its latest range of implantable pacemakers, Alizea.

One of the country’s top advocates for responsible gaming is hanging out her own shingle. This past week, Brianne Doura-Schawohl announced she was starting a consulting firm with a focus on promoting responsible gaming policies. The firm will handle government and industry relations, including the promotion of legislation and regulations, as well as public health […]

The post Responsible Gaming Advocate Brianne Doura-Schawohl Sets Up Consulting Firm appeared first on Casino.org.

Gary Gensler is back, and guess what? Crypto users might have to brace tighter for what he has in store for them in 2022. Speaking to CNBC earlier last week, the SEC chairman vowed to deal with the crypto “wild west”, stepping up 2021’s regulation efforts through the enactment of laws and scrutiny structures. Gensler […]

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