On June 23, 2021, the Securities and Exchange Commission’s Office of Investor Education and Advocacy (OIEA) initiated a public service campaign aimed at promoting investing. The goal of the public service campaign is to give the public tools that will help them become more financially literate specifically in regards to investments. They have updated their financial education tools at Investor.gov which have been around for over ten years.
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The Covid-19 Pandemic transformed so much of modern society that our collective timeline has split into pre-pandemic and post-pandemic. Although the economy came to a stop early on, eventually, Americans started to go back to work. However, they found their workplaces transformed. Many employers began to allow workers to work from home. This movement created many questions and brought with it many obstacles. As the country reopens, employers are figuring out how to return to the office and how remote work with factor into work dynamics. One of the biggest concerns for employees is the prospect of reduced salaries caused by working remotely.
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DeFi App Conference || Friday May 28
Our Co-founder, Jor Law, will be speaking at the DeFi App Conference May 28th, 2021.
Limited Tickets: DeFiApp.Finance
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Around this time last year, we published an article of predictions about what the Coronavirus could bring to the economy. At the time, we had no idea what a profound historical event the Covid 19 pandemic would have on society. Looking back a year later, it almost feels like 2020 through 2021 was longer than just one year. Practically nothing outside of maybe the Great Recession compares to the massive effect this virus has had on our economy and the future of so many industries. Let us look back at how our industry and the economy as a whole have changed in the last 12 months.
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Another major milestone for cryptocurrency occurred on Wednesday, April 14th, 2021, as Coinbase took itself public, making it the first major crypto company to go public. Coinbase is a relatively young company in the infant industry of cryptocurrency, therefore this move to go public is a significant step forward and sets a precedent for other major crypto companies. Without accounting for options and restricted stocks, Coinbase was valued at a little over $60 Billion USD when it ended the day on Wednesday, April 14th, 2021. This high valuation gives crypto companies and investors more confidence that the digital currency space can be just as bullish and valuable as any traditional company. This is a huge win for the crypto industry and the financial tech industry as a whole. Let us examine this momentous occasion in more detail.
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Starting May 22nd, 2021 FINRA will require Issuer to fill out an update form when filing. The new rules are based on FINRA Rules 5122 (Private Placements of Securities Issued by Members) and 5123 (Private Placements of Securities). It is very important for Issuers to familiarize themselves with the changes in order to stay compliant with the new and updated questions that are in the new Filer Form. As the new Filer Form will be required for all new filings as well as amended ones, May 22nd is a major day for all Issuers. The full breakdown of the form changes, including the actual form, and contact information for sending FINRA inquiries regarding the changes can be found on FINRA website. That being said we will summarize the announcement in this blog article.
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The Division of Examinations (formerly the Office of Compliance Inspections and Examinations) has announced in a recent Security and Exchange Commission press release plans to continue their focus on the potential risks of digital assets. The SEC taking the digital asset category seriously lends legitimacy to that industry and hopeful is a prelude to a more robust digital asset industry in the United States. In the short term, however, the Division of Examinations intends this study to be used in regulation and transparency for companies and investors looking to use digital assets more in their investments and funds.
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SEBI, or Securities and Exchange Board of India, is considering the addition of the accredited investor to the regulations. The agency is reaching out for public comment in order to get a good understanding of how industry professionals and investors feel about the concept of adding an accredited investor definition to Indian securities law. The accredited investor definition has had great success throughout the world. Many international accredited investors boost their respective countries’ economies, so it is no wonder that India is considering adding this definition to its securities regulations.
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In 2020, the value of cryptocurrencies rose dramatically, driven in part by greater institutional acceptance and bitcoin buying. As a result, VerifyInvestor.com has noticed an uptick in investors qualifying as accredited investors due to the value of their cryptocurrency holdings. Whether people hold their cryptocurrencies on an exchange or a wallet, they can use crypto to get verified as accredited investors. Regulation D allows verified accredited investors to participate in private deals similar to those conducted by Filecoin, Hashgraph, and tZERO.
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