U.S. Chamber of Commerce Announces FinTech Innovation Initiative
The U.S. Chamber of Commerce released “FinTech Innovation Initiative: Bridging the Gap Between Tech and D.C.” The document includes a number of guiding principles for the FinTech industry, which include, among other things, promoting “new and innovative ways to access capital, such as initial coin offerings (ICOs), while advocating for tailored oversight and strong consumer and investor protections.” The document urges the CFTC and SEC to provide additional guidance on the regulatory treatment of token sales and “broadly consider and issue expedited no-action letters.”
The above is a summary of one of the significant legal and regulatory actions that occurred over the past week. This alert is not intended to be a comprehensive list of all such developments, but rather a selection of publicly-reported news that may be of particular interest. These are the Fintech updates that ties to the post Blockchain in Review – Week of August 20 – 24, 2018 from our sister blog, VirtualCurrencyReport.