Crowdfunding ECO Town Hall Ask to Join

This is going to make CfPA's role more important as blockchain continues to converge with crwodfundingcrowdfunding. 

see: https://www.coindesk.com/sec-cftc-chiefs-eye-closer-scrutiny-of-us-cryptocurrency-industry/ 

SEC, CFTC Chiefs Eye Closer Crypto Scrutiny

Two U.S. financial regulators are increasing their agencies' commitment to bringing closer scrutiny to the country's cryptocurrency industry.

In a Wall Street Journal op-ed published yesterday, both the Securities and Exchange Commission (SEC) ands the Commodity and Futures Trading Commission (CFTC) voiced that they are devoting a significant portion of resources to monitoring the industry. And along with other authorities, they will continue to stamp down on fraudulent activities in the market.

The article was co-written by Jay Clayton and J. Christopher Giancarlo – chairs of the SEC and CFTC, respectively – and is the latest public statement from the financial regulators indicating the increasingly strident efforts being made to oversee the industry.

In July last year, the SEC issued the notable announcement that the agency may consider tokens issued during initial coin offerings (ICO) as securities that must be registered with the agency.

Yet, in the WSJ piece, Clayton and Giancarlo warned those who might try and circumvent the guidance, saying:

"The SEC is devoting a significant portion of its resources to the ICO market ... Market participants, including lawyers, trading venues and financial services firms, should be aware that we are disturbed by many examples of form being elevated over substance, with form-based arguments depriving investors of mandatory protections."

Further, cryptocurrencies are now being "promoted, pursued and traded as investment assets," while their much-touted utility as an efficient medium of exchange now a "distant secondary characteristic," they added.

The comments are also in line with recent moves by the SEC in halting ICO activities and filingcharges against their organizers. Just last week, the CFTC, which treats cryptocurrencies as commodities, has also notably brought up legal cases to sue allegedly fraudulent cryptocurrency investment schemes.

In addition, Clayton and Giancarlo also voiced support in the article for policies that seek to review existing laws to ensure they can efficiently regulate activities pertaining to cryptocurrency.

"Many of the internet-based cryptocurrency-trading platforms have registered as payment services and are not subject to direct oversight by the SEC or the CFTC. We would support policy efforts to revisit these frameworks and ensure they are effective and efficient for the digital era," the regulators concluded.

A CfPA event hosted/sponsored by Fordham Gabelli School of Business and made possible through the support of CfPA title sponsor Computershare.

Fordham Gabelli School of Business | McNally Ampitheatre  – 140 W. 62nd Street, New York 10023

THE STATE OF CROWDFINANCE: FUNDRAISING – BLOCKCHAIN – SECURITIES – ICOS

 

Want to hear Irwin Stein, veteran securities lawyer, answers questions posed by Darren Marble such as:

Q: What is it about the Crowdfunding industry that has you concerned? 

Q: What are you seeing happening in the market? What is happening in the industry that is a red flag? 

Q: Are portals adequately diligencing companies doing Reg CF campaigns or not? 

Q: Should there by some minimum standard that portals should have when deciding or evaluating whether or not to list and issuer?

Q: Let's look ahead 12 months. What do you predict is going to happen in the next year? 

Q: And many more!  

See: https://www.youtube.com/watch?v=rU5sAve1mBE 



Spread the word! #P...@...com 

From the CfPA 4th annual conference, Brandon Jenkins, COO @fundrise interviewed by Darren Marble:

https://www.youtube.com/watch?v=k9gGfKqXzkE



Can anyone speak to how many real estate crowdfunding platforms are operating today? 

For people that could not make it to Washington DC, there's a rich catalog of video content available on YouTube from the Crowdfunding Professional Association (CfPA) 4th annual conference held in Washington in April 2017.  

https://www.youtube.com/channel/UC3QAmmmWlZM3Se9o_hZfwZQ/videos?shelf_id=0&view=0&sort=dd 

Feel free to share this link widely -- and also to invite others to join this Town Hall discussion forum. 



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