Judge: Bitcoin is Not Money… For Now

You can’t be guilty of money laundering if no money is involved. That’s what Miami Judge Teresa Mary Pooler ruled earlier this week. Poor Michell Espinoza, a seller of cryptocurrency Bitcoin, was the subject of a sting by the Secret Service and Miami Beach Police. The cops told Espinoza they wanted to buy Bitcoin to purchase

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Getting the Reg A Beat Right!

Several recent articles are suggesting that “the jury is still out” on whether Regulation A+ will indeed usher in a new era of small, cost-effective IPOs. We all knew there would be, as my late sailor father used to say, a shakedown cruise as with anything new. We try some things, some work and some

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Twinkie Maker Going Public with SPAC Merger

Hostess Brands LLC, which makes the iconic Twinkies, cupcakes, Ding Dongs and others, is going public by merging with a public “shell” vehicle known as a special purpose acquisition company, or SPAC. Current owners Apollo Global Management and others will give up control but retain about 42% ownership, according to the PIPEs Report. Add this to

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Millennials Flocking to Entrepreneurship

A few months ago, a BNP Paribas study, reported on by Fortune, confirmed what many of us have been seeing for the last 3-5 years. The millennials, those aged around 20-35, are starting their own businesses at a dramatically higher rate and younger age than their baby boomer parents over 50 (read: yrs truly). Advancing

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Microsoft Announces Entry into Cannabis Industry

In a move seen by many as a major positive for the burgeoning cannabis industry, Microsoft has publicly announced a partnership with a software company in the space. That company, Kind, has developed software that helps state governments track growers’ and sellers’ compliance with their rules. Microsoft will work with them on that venture. Kind

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Analysis of Court Ruling Upholding SEC Regulation A+ Rules

I have now had a chance to read the 23-page, very well-written, clear and concise DC Circuit court opinion on the Reg A+ challenge brought by two states. The ruling started with a brief history of securities law, how it started with the states but moved to add federal oversight after the 1929 market crash.

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Flash: Court Shoots Down State Challenge to Reg A+ Rules

Very good news: the DC Circuit today rejected the effort by two states (Massachusetts and Montana) to invalidate the SEC’s rules enacted to implement Regulation A+ and Title IV of the Jumpstart Our Business Startups (JOBS) Act of 2012. We are waiting to review the actual decision, but the court’s decision, written by Judge Karen

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Reg A+ Nears its Birthday

June 19 will be one year since the effectiveness of the SEC’s new rules on Regulation A+ under the Jumpstart our Business Startups (JOBS) Act of 2012. So what’s happened in the interim? According to information I very recently received: 99 deals filed, of which 55 were Tier II and 44 were Tier I (effectively under

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Moving Money vs. The Ultimate Sacrifice

We on Wall Street like to think we do important things. Some say it’s just moving money from one pocket to another. Others say we are helping finance the next cancer cure or solution to climate change or game-changing new technology. But in the end it all pales as against the life of the ordinary

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