Powers On… The SEC takes reactionary moves against crypto lending – Cointelegraph Magazine

[ad_1] It is unfortunate that the United States Securities and Exchange Commission has chosen to send a message to the crypto industry by extracting a huge $100 million settlement from the lending platform BlockFi in an administrative proceeding publicly announced on Feb. 14. It was quite a Valentine’s Day kiss — $50 million for the SEC and $50 million for some 32 states that piled on because they saw an easy target. Powers On… is a monthly opinion column from Marc Powers, who spent much of his 40-year legal career…

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Powers On… The Fed endorses cryptocurrency — Kind of – Cointelegraph Magazine

[ad_1] This month, the Board of Governors of the United States Federal Reserve System issued its widely anticipated report on the nation’s possible use and adoption of digital currencies for its financial system. The document is titled “Money and Payments: The U.S. Dollar in the Age of Digital Transformation,” and true to its name, the paper is transformative. Powers On… is a monthly opinion column from Marc Powers, who spent much of his 40-year legal career working with complex securities-related cases in the United States after a stint with the…

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Powers On… Top 5 crypto legal and regulatory developments of 2021 – Cointelegraph Magazine

[ad_1] While still leading the securities litigation, hedge fund and SEC defense national practices at my last law firm, BakerHostetler, my practice team members and I would prepare an annual list of key developments and cases in the area each December. It was usually a top 10 list that was then published by Wolters Kluwer in one of its CCH publications and by BakerHostetler as a separate publication to our law firm clients. Now that I am officially “retired” from law firm practice and these days devote most of my…

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Powers On… Why aren’t more law schools teaching blockchain, DeFi and NFTs? – Cointelegraph Magazine

[ad_1] Blockchain technology is transformative for both our financial system and commercial enterprises, as well as for improving the human condition. More and more unbanked citizens both abroad and here in the United States now can have the capability to transfer and receive funds from loved ones with speed, economic efficiency and anonymity, where necessary, from oppressive regimes and governments and unstable economies. Traditional financial systems that have long not been available in underserved communities in various parts of Africa, Asia and Latin America must now recognize the power and…

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Powers On… Why US officials ignore ethics and STOCK Act by trading stocks? – Cointelegraph Magazine

[ad_1] About two weeks ago, The Wall Street Journal ran an expose on the number of judges who held or traded the stock of companies over which they presided in legal proceedings. The article identifies 131 federal judges nationwide who did this during the period of 2010 to 2018. Of those 131 members of the judiciary, 61 judges purportedly traded the public company stock of litigants during the case. Imagine that! It’s quite incredible, actually. Powers On… is a monthly opinion column from Marc Powers, who spent much of his…

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Powers On… Don’t worry, Bitcoin’s adoption will not be stopped – Cointelegraph Magazine

[ad_1]   In a series of  recent interviews and speeches, United States Securities and Exchange Commission Chairman Gary Gensler has called the cryptocurrencies market the “Wild West” due to its unregulated and allegedly fraud-filled atmosphere, predicting that the coins were doomed to fail. Powers On… is a monthly opinion column from Marc Powers, who spent much of his 40-year legal career working with complex securities-related cases in the United States after a stint with the SEC. He is now an adjunct professor at Florida International University College of Law, where…

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Powers On… Broker disintermediation and unregulated crypto exchanges cause major concerns

[ad_1] Powers On… is a monthly opinion column from Marc Powers, who spent much of his 40-year legal career working with complex securities-related cases in the United States after a stint with the SEC. He is now an adjunct professor at Florida International University College of Law, where he teaches the course “Blockchain, Crypto and Regulatory Considerations.” More and more, governments are fearing that they will lose control over aspects of their respective legitimate financial systems, including capital raising and trading, to the hundreds of unlicensed, unregulated centralized and decentralized crypto…

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