Regulation
Nigeria
Africa
Nigeria Introduces New Tax Guidelines for Virtual Assets Amid Compliance Concerns
Nigeria's Revenue Service has released its first comprehensive tax framework for virtual assets, classifying them into six categories and setting out compliance requirements for taxpayers and service providers. PwC Nigeria notes the guidelines provide clarity but highlight unresolved legal and practical issues, including enforcement gaps and ambiguities in tax collection. Virtual Asset Service Providers must now act as primary tax collectors.
Regulation
USA
Galaxy Digital Estimates Only 10% Chance for CLARITY Act to Become Law in 2026
Galaxy Digital's head of research, Alex Thorn, estimates just a 10% probability that the CLARITY Act will pass into law, citing political gridlock as the main barrier. The Act would introduce comprehensive registration, licensing, and compliance requirements for digital asset service providers. The Senate is expected to vote on the bill by the end of the year, but bipartisan support remains uncertain.
Platform Update
Regulation
Startups
Equity
USA
NetCapital Faces SEC Fraud Charges as CfPA Issues Statement on Industry Standards
The Crowdfunding Professionals Association (CfPA) has responded to SEC fraud allegations against NetCapital, a publicly traded crowdfunding platform. The SEC claims NetCapital improperly recorded $14 million in revenue through fraudulent consulting agreements. CfPA emphasized the importance of transparency and accountability in regulated investment crowdfunding. NetCapital is also struggling to maintain its Nasdaq listing.
Regulation
Platform Update
Startups
Azerbaijan Passes Legal Framework for Investment and Plans Crowdfunding Regulations
Azerbaijan's parliament has approved a new legal framework for investment instruments, with the central bank set to finalize regulations for equity and debt-based crowdfunding within six months. The move is part of the country's broader strategy to diversify its economy beyond oil and foster a tech startup ecosystem. Officials hope these measures will attract both local and international investors.
Campaign News
Regulation
Health & Science
Donation
India
Indian Government Recommends Official Crowdfunding Portal for Rare Disease Treatment Donations
The Indian government has advised that donations for Manashree Choudhury's SMA treatment be routed through its official digital crowdfunding portal for rare diseases. This portal, established under the National Policy for Rare Diseases, aims to ensure transparency and proper use of voluntary contributions. Concerns have been raised about unauthorised fundraising via personal accounts, prompting calls for stricter oversight.
Platform Update
Regulation
Startups
Equity
USA
CfPA Introduces Best Practice for Crowdfunding Platforms on SEC Reporting Obligations
The Crowdfunding Professional Association (CfPA) has released a standardized best practice for Reg CF intermediaries to help companies stay compliant with SEC annual reporting requirements. The initiative includes a template for issuer acknowledgment of ongoing obligations, aiming to reduce noncompliance and boost investor confidence. Several platforms have already adopted the new standard.
Regulation
Tokenized
USA
SEC to Vote on New Crypto Asset Offering Regime with Potential Exemptions
The SEC is set to meet to discuss and potentially approve new rules for a bespoke offering regime for certain investment contracts involving crypto assets. The proposed regulation may introduce exemptions similar to Reg CF or Reg A, with capped funding amounts and scaled disclosures. The rules are expected to be approved by the pro-crypto Commission and could take effect within months.
Regulation
Tokenized
USA
SEC Approves Franklin Templeton Funds’ Use of Blockchain-Based Money Market Vehicle
The SEC's Division of Investment Management has issued a no-action letter permitting Franklin Templeton's registered funds to invest in its own blockchain-based money market fund for cash management. The decision addresses custody arrangements and marks a significant regulatory milestone for onchain fund structures. This move could influence broader adoption of blockchain in traditional fund management.
Regulation
Tokenized
United Kingdom
UK FCA Reviews Regulatory Framework for Gold Tokenization
The UK Financial Conduct Authority is reportedly developing a regulatory framework for the tokenization of gold. The review considers how tokenized gold could be used as collateral in wholesale markets. London, a major global gold trading hub, aims to maintain its leadership as digital asset adoption grows. The FCA's oversight would cover gold-based derivatives and exchange-traded products.
Campaign News
Regulation
Donation
Cyprus
Cyprus Authorities Investigate Legality of Drousiotis Crowdfunding Campaign
Cyprus police are investigating whether journalist Makarios Drousiotis' crowdfunding campaign for legal expenses violates national fundraising law. The probe follows a complaint from the interior ministry and raises questions about the law's applicability to online platforms based abroad. The campaign, hosted on GoGetFunding, reached its €50,000 target in three days.
Platform Update
Regulation
Startups
Equity
USA
Netcapital Faces SEC Fraud Charges Over Consulting Revenue and Sham Deals
The SEC has charged Netcapital, a securities crowdfunding platform, with fraud related to improperly recorded consulting revenue and alleged sham deals involving advisory board member John Fanning. The charges claim that fraudulent agreements inflated Netcapital's revenue as it sought new investment. The company's CFO and Fanning are named as defendants, and the case centers on activities tied to Netcapital Funding Portal and Netcapital Advisors.
Regulation
Platform Update
Startups
Tokenized
USA
GUARDD Engages SEC on Secondary Trading Rules for Tokenized Exempt Securities
GUARDD, a fintech platform supporting private companies issuing tokenized exempt securities, recently met with the SEC to discuss regulatory pathways for secondary trading. The discussions focused on standardizing disclosures to enable compliant trading on Alternative Trading Systems and overcoming state-by-state regulatory hurdles. GUARDD highlighted the lack of liquidity for crowdfunded securities and proposed solutions to improve secondary mar…
