Rethinking the SEC’s Regulation CF study

A new study was released by the SEC investigating incidents of fraud under Regulation CF fundraises. Under Regulation CF, enabled by the JOBS Act, entrepreneurs can raise up to $1 million dollars for essentially start up ventures without having to undergo … Continue Reading

Thoughts on Digital Custodians

As one expert recently recounted to me, cryptoassets are, at their core, a kind of digital bearer instrument, meaning the holder is presumed to be the rightful owner, and is entitled to any associated privileges. This in turn creates significant … Continue Reading

Alternative Data is Hitting Mainstream Credit

The Wall Street Journal today, which though not unpredictable, is still breathtaking: For decades, banks and other financiers have relied primarily on consumers’ borrowing history to make lending decisions. Now revenue-hungry companies are considering metrics both mundane and peculiar, like … Continue Reading

A real time payments solution should embrace private-public competition

There’s been more than a little debate about plans by the Clearinghouse and the Federal Reserve to set up their own ‘real time payments’ system, with the goal, at least in part, of bolstering financial inclusion.  On the one hand, … Continue Reading

A mixed picture for global fintech fundraises in the first half of 2019

The global picture for fintech fundraises is, in a word, mixed.  Accenture reports: The number of fintech deals globally rose about 2% from the first half of 2018, to 1,561, but activity was mixed in the world’s largest markets. While … Continue Reading

The Decentralization Debate

There’s been a lot of debate over whether Facebook’s proposed currency is really decentralized. It’s a big deal in crypto circles — and a debate often driven by individuals laying claim to what they view as “authentic” blockchain strategies that, … Continue Reading

Getting up to Talk Tech at 8am Has Never Been So Much Fun!

I had the pleasure this morning of doing a real Washington tradition: C-span’s morning call in show, Washington Journal, where I discussed Facebook’s Libra cryptocurrency and the state of crypto regulation in Congress.  It was such a pleasure hearing from around … Continue Reading

On Facebook’s cryptocurrency…or digital asset…or whatever you want to call it

On July 17, I had the delight and honor of testifying before the House Financial Services Committee with respect to Libra, Facebook’s proposed cryptocurrency. I’m a real fintech optimist, but it was hard to be one in this particular case. … Continue Reading

DC Fintech Week Brings Together Regulators, Innovators and Disruptors

Washington, DC, June 26, 2019 — Fintech Week is a unique, global policy forum where thought-leaders can discover, seriously discuss and debate rapidly evolving changes to the financial ecosystem that drive policy and regulation — and what they mean to markets and investors. This year, Fintech Week … Continue Reading

Non-Banks aren’t the Same Banks in the Mortgage Market….

….Which I thought was pretty obvious after 2008.  But it was worth highlighting in a recent appearance on CNBC.  Many thanks to the network for the privilege of the appearance for this law professor.