FinTech Blog

Welcome to Shearman & Sterling’s FinTech Blog, where we provide you with insight on key trends in the FinTech ecosystem. Here you can find relevant information with the latest on digital banking, FinTech regulation, digital assets, blockchain, AI, and more.

• NASAA Cracks Down on Fraudulent ICOs and Enters into Information Sharing Agreement with the CFTC
  5/30/2018
  At the North American Securities Administrators Association Conference on May 21, 2018, NASAA, an association of state and provincial securities administrators in the United States, Canada and Mexico, announced a joint effort among its members to halt fraudulent initial coin offerings and virtual currency-related investment products.  The so-called “Operation Cryptosweep,” which was launched this past April, consists of NASAA members from 44 jurisdictions in the United States and Canada and has to this point led to nearly 70 inquiries and 35 pending and completed enforcement actions, with more expected in the coming months.
  
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  Categories : CFTC, Cryptocurrencies/Virtual Currencies, Enforcement, ICOs, SEC, State Regulation, US Federal Regulation
• NY Attorney General Announces Cryptocurrency Exchange Inquiry
  04/17/2018
  New York Attorney General Eric T. Schneiderman sent letters to thirteen cryptocurrency exchanges requesting certain key information on their operations, fee structures, internal controls, and customer safeguards.  The letters also signaled the launch of the Attorney General’s broader “Virtual Markets Integrity Initiative.”
  
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  Categories : Cryptocurrencies/Virtual Currencies, Enforcement, State Regulation
• Wyoming State Legislature Passes Several Measures to Foster Virtual Currency and Blockchain Innovation
  03/06/2018
  The Wyoming state legislature recently passed the following virtual currency- and blockchain-focused bills intended to ease regulatory burdens at the state level for blockchain and digital asset ventures.
  
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  Categories : Blockchain, Cryptocurrencies/Virtual Currencies, State Regulation
• Cryptocurrencies: A Big Week for U.S. Regulatory Attention
  01/25/2018
  Jay Baris and Nathan Greene, partners in the Investment Funds group, authored an article entitled “Cryptocurrencies: A Big Week for U.S. Regulatory Attention,” summarizing a seemingly sudden burst of regulatory actions taken by the U.S. Securities and Exchange Commission, U.S. Commodity Futures Trading Commission and a state regulator over the span of just a few days in January.
  
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  Categories : CFTC, Cryptocurrencies/Virtual Currencies, Enforcement, Federal Regulation, SEC, State Regulation