Author Archives: Lee Reiners

What Congress Should Ask About Facebook’s New Cryptocurrency

By | July 2, 2019

On June 18th, Facebook released a white paper and additional documentation that describe a new cryptocurrency, called Libra, which will be governed by the twenty-eight member Libra Association (the “Association”). Shortly thereafter, the Senate Banking Committee and the House Financial Services Committee announced they would hold hearings to look into Libra and Facebook’s involvement; these… Read More »

The SEC Should Continue to Say No to Bitcoin Exchange-Traded Products

By | June 18, 2019

The following is an edited comment letter that was submitted to the Securities and Exchange Commission (the “Commission”) on June 14th in response to the Commission’s May 20, 2019 order (Release No.34-85896) to institute proceedings under Section 19(b)(2)(B) of the Securities Exchange Act of 1933 (“Act”) to determine whether to approve or disapprove of Cboe… Read More »

North Carolina’s Proposed Regulatory Sandbox Needs Work

By | May 28, 2019

Last month, a bill was introduced in the North Carolina General Assembly that would make North Carolina the fourth state – after Arizona, Wyoming and Utah – to offer a regulatory sandbox for innovative financial services firms. Broadly defined, a regulatory sandbox is a ‘safe space’ in which businesses can test innovative products or services… Read More »

A New Proposal to Expand Banking Services in Rural America

By | December 15, 2018

There are now two Americas. A growing, dynamic, and prosperous urban America (including suburbs) that votes almost exclusively Democratic, and a shrinking, poor, rural America that votes Republican. This divide carries significant consequences, from increased polarization to the opioid epidemic, and defies traditional economic logic. Unless something is done soon to turn around the economic… Read More »

The Revolving Door Comes to Cryptocurrency

By | October 15, 2018

Ask any cryptocurrency company what their biggest challenge is, and they’ll likely tell you “legal and regulatory issues.” The legal and regulatory environment surrounding cryptocurrency is complex, uncertain, and changing by the day. In the U.S., no one agency has sole jurisdiction over cryptocurrency, and different agencies have varied interpretations of what cryptocurrency is (largely… Read More »

How Regulators are Responding to FinTech

By | June 29, 2018

This post is the fifth and final in a series that highlights various elements of a new online course titled “FinTech Law and Policy.” The course is available to all on the Coursera platform (it can be audited for free) and covers the key legal and regulatory issues confronting the FinTech industry today. You can… Read More »

What Happens When FinTech Firms Don’t Understand Regulation?

By | June 27, 2018

This post is the third in a series that highlights various elements of a new online course titled “FinTech Law and Policy.” The course is available to all on the Coursera platform (it can be audited for free) and covers the key legal and regulatory issues confronting the FinTech industry today. The following examples highlight… Read More »