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Category Archives: Fintech

A roundup of today’s market tech news and a look at tomorrow’s disruptors

Don’t Blink, The Markets Are Changing Right In Front of Your Eyes Standard

Eighteen Years Later, Another Inflection Point Eighteen years after the start of this newsletter, the markets and its participants face new challenges that make reading JLN today even more important, relevant and necessary to keep abreast of the latest disruptive challenges. Today we find ourselves at an inflection point in the markets, with a new generation of digital natives discovering whole new opportunities in the markets, billions of dollars pouring into potentially disintermediating fintech and intense global interest in all things fintech and crypto. Back in 2000, when this newsletter was first published, the markets were facing the move from…

As SEC Subpoenas to Tech Companies in Digital Tokens Market Increase, What Issuers Need to Know Standard

  The Securities and Exchange Commission (“SEC”) reportedly has revved up its focus and issued a significant number of subpoenas targeting technology companies in the digital token space, following on earlier pronouncements from the agency that it would expand its focus on ICOs and cryptocurrencies. The subpoena process is one of the primary weapons in the SEC’s enforcement arsenal, and ICO issuers will need to understand what they can expect over the next few weeks.  What is a subpoena? A subpoena is a formal request from the SEC staff for documents or testimony, which can be enforced with a court…

CryptoCon 2018 – Impressions Standard

You practically can’t walk down the street these days without bumping into a conference, seminar, or MeetUp about blockchain and cryptocurrencies as the bitcoin fever of 2017 has metastasized into a cottage industry bent on “figuring it out.” If the results from last week’s FinTank CryptoCon are any indication, the crypto industry is further along than you thought but still very much in its early stages. Aside from its name, which has to make any branding expert cringe, CryptoCon was excellent in terms of the quality of the speakers and breadth of material covered, not to mention strict adherence to…

ICO Rules and Regs: Initial Coin Offerings Under Regulatory Spotlight Standard

So you want to launch an initial coin offering? Better buckle up and lawyer up. At the FinTank CryptoCon event in Chicago on Thursday, two attorneys addressed the complexity and pitfalls that come with launching an ICO. Barbara Jones, an attorney with GreenbergTrauig, said there continues to be some ambiguity over regulation of ICOs. SEC Chairman Jay Clayton has said numerous times that he has not seen a token from an ICO that is not a security. Meanwhile, Commodity Futures Trading Commission Chairman Chris Giancarlo is considering tokens as commodities, and has said the commission will pursue any cases involving…

Don’t Get the Munchees! A Lesson from the SEC Standard

The Securities & Exchange Commission (“SEC” or the “Commission”) has made good on its promise to pursue companies that engage in what it views as unregulated offerings of securities by way of initial coin offerings or “ICOs.” Specifically, the Commission recently pursued a company called “Munchee” that created an iPhone application for people to review restaurant meals. To fund the creation of its app, Munchee began an ICO seeking to raise $15 million and, in return, issue its token known as a “MUN.”  The company issued a white paper in connection with its ICO. In that document, Munchee indicated that…

Asia Pacific Financial News from John Lothian News – December 21, 2017 Standard

Lead Stories China to Shake Up Global Market With Yuan-Based Oil Futures Contract; Chinese traders, analysts expect start by early 2018 By Georgi Kantchev – WSJ China is preparing to launch its own yuan-based oil futures contract, a move set to shake up the 96 million barrel-per-day global crude market currently dominated by trading in London and New York. https://goo.gl/FMoxQ4 Cameron sold out more than China Bruno Maçães – The Royal Gazette When it was announced earlier this week that former British Prime Minister David Cameron had accepted a leadership role in a new $1 billion UK investment fund intended…

Asia Pacific Financial News from John Lothian News – December 19, 2017 Standard

Lead Stories South Korean cryptocurrency exchange to file for bankruptcy after hacking Reuters Staff A South Korean cryptocurrency exchange said on Tuesday it is shutting down and is filing for bankruptcy after it was hacked for the second time this year, highlighting concerns about security as trade in bitcoin and other virtual currencies boom. https://goo.gl/mmcpy4 China issues new code of conduct to tame overseas investors; New guidelines set out 36 dos and don’ts to bring order to booming sector Frank Tang – South China Morning Post Beijing has imposed a 36-point code of conduct for the country’s private enterprises to…

Asia Pacific Financial News from John Lothian News – December 18, 2017 Standard

Lead Stories Hong Kong Listings Rule Changes Set to Transform Market, Li Says By Benjamin Robertson and Rishaad Salamat – Bloomberg HKEX on Friday proposed allowing dual-class share companies; Profitability requirement for biotech companies also dropped Hong Kong Exchanges & Clearing Ltd.’s proposal to change which companies are eligible to list in the city will boost the pipeline of initial public offerings, according to Chief Executive Officer Charles Li. https://goo.gl/LHtGVH Trump to label China as a strategic ‘competitor’; Beijing accused of pursuing policies of economic aggression to weaken US Demetri Sevastopulo in Washington – FT President Donald Trump will describe…

Asia Pacific Financial News from John Lothian News – December 15, 2017 Standard

Lead Stories The $145 Trillion Future of Investing Is Heading to Asia;; Surging wealth throughout the developing world will reshape asset management. By Nico Grant – Bloomberg Chinese assets under management to rise at break-neck pace; This story is part of a series on the future of investing Every other day, a new billionaire is minted in Asia. That growing wealth has sparked a shift in the world of investing, as ascendant emerging markets outpace the long-dominant U.S. and Europe. https://goo.gl/cDFPDe HKEX moves closer to accepting dual share classes; Exchange’s rethink prompted by losing out on Alibaba’s IPO to the…