MoFo Tech

June 04, 2019 - Blockchain, Financings, Fintech
Nevada Resident Sentenced for Fraud and Unlicensed Money Transmission in Case Involving Bitcoin
By: Marc-Alain Galeazzi
A Nevada resident, Morgan Rockcoons, was sentenced in the U.S. District Court for the Southern District of California to 21 months in prison for wire fraud and unlicensed money transmission. In connection with the sentencing, Rockcoons will also be required to forfeit $80,600 in illicit proceeds.
... ›
May 21, 2019 - Asia, Financings, Fintech
Where Disruption Meets Regulation
By: Gordon A. Milner
A wide range of businesses in Southeast Asia from traditional retailers and financial institutions to start-ups are harnessing new technologies and entering into new commercial partnerships to offer financial products and services regionally. MoFo’s Jake Robson, Gordon Milner and Nicholas Davies discuss how companies
... ›
May 08, 2019 - Financings, Fintech
Could Strong Consumer Authentication Weaken Consumer Demand?
By: Trevor R. Salter
From 14 September 2019, certain electronic and remote payments must be subjected to two-factor, or “strong customer authentication”, under regulatory standards covering the European Economic Area relating to the second EU Payment Services Directive, which took effect in January 2018. Retailers are uncertain whether
... ›
April 26, 2019 - Financings, Fintech
In a First, FinCEN Assesses Civil Money Penalty Against Peer-to-Peer Virtual Currency Exchanger
By: Marc-Alain Galeazzi
The Financial Crimes Enforcement Network (“FinCEN”) issued a press release announcing a civil money penalty for violations of the Bank Secrecy Act against Eric Powers, an individual who acted as a peer-to-peer virtual currency exchanger. The enforcement action is the first-ever penalty assessed by FinCEN
... ›
April 12, 2019 - Blockchain, Financings, Fintech
SEC Issues Historic No-Action Letter and Releases Framework for “Investment Contract” Analysis of Digital Assets
By: Alfredo B. D. Silva
On April 3, 2019, the Strategic Hub for Innovation and Financial Technology of the U.S. Securities and Exchange Commission (“SEC”) published two pieces of guidance on when a blockchain-enabled digital asset will, or will not, be considered a security. The first piece of guidance
... ›
April 11, 2019 - Blockchain, Financings, Fintech
FSA Proposes Bill to Amend Japanese Laws Regulating Cryptocurrency-Related Businesses
By: Seth M. Graham
The Japanese Financial Services Agency (“FSA”), Japan’s primary financial regulator, announced on March 15, 2019, that it was submitting a bill to the Diet to amend both the Payment Services Act (the “PSA”) and the Financial Instruments and Exchange Act (the “FIEA”) relating to how the
... ›
April 03, 2019 - Regulatory, Blockchain, European Union, Financings, Fintech
FCA Guidance on UK Crypto-Assets Regulation
The United Kingdom’s Financial Conduct Authority published draft guidance on the circumstances in which crypto-assets will fall within its regulatory perimeter and has invited comments and feedback on the draft guidance by 5 April 2019. In particular, it explains how it divides crypto-tokens into
... ›
February 14, 2019 - Blockchain, Financings, Fintech
Tokenization + the SEC – Part 1
Dario de Martino discusses the real possibilities and opportunities around security tokens, from a business standpoint, the legal perspective, and from a retail investor point of view. Topics include: What are the advantages of tokenizing securities? How do Securities laws work generally in the
... ›
December 14, 2018 - Financings
Agencies Issue Further Guidance Regarding Emerging Approaches to BSA/AML Compliance
By: Barbara R. Mendelson and Marc-Alain Galeazzi
On December 3, 2018, the Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, Financial Crimes Enforcement Network, National Credit Union Administration, and Office of the Comptroller of the Currency (collectively, the “Agencies”) issued a joint statement regarding “innovative approaches” to
... ›
November 09, 2018 - Financings, Fintech, Mergers + Acquisitions
First SEC Enforcement Action Against Unregistered Digital Token Exchange
By: Alfredo B. D. Silva
Until yesterday, the enforcement actions of the U.S. Securities and Exchange Commission (SEC) in the digital token space have primarily focused on the primary issuances of tokens. However, on November 8, 2018, the SEC announced in an order (the “Order”) that it had settled charges against
... ›

Topic Archives: Financings

Nevada Resident Sentenced for Fraud and Unlicensed Money Transmission in Case Involving Bitcoin

By: Marc-Alain Galeazzi

Where Disruption Meets Regulation

By: Gordon A. Milner

Could Strong Consumer Authentication Weaken Consumer Demand?

By: Trevor R. Salter

In a First, FinCEN Assesses Civil Money Penalty Against Peer-to-Peer Virtual Currency Exchanger

By: Marc-Alain Galeazzi

SEC Issues Historic No-Action Letter and Releases Framework for “Investment Contract” Analysis of Digital Assets

By: Alfredo B. D. Silva

FSA Proposes Bill to Amend Japanese Laws Regulating Cryptocurrency-Related Businesses

By: Seth M. Graham

FCA Guidance on UK Crypto-Assets Regulation

Tokenization + the SEC – Part 1

Agencies Issue Further Guidance Regarding Emerging Approaches to BSA/AML Compliance

By: Barbara R. Mendelson and Marc-Alain Galeazzi

First SEC Enforcement Action Against Unregistered Digital Token Exchange

By: Alfredo B. D. Silva