Crypto firms face penalties over registration regulations: Weekly regulatory news
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The Week in Brief is your weekly snapshot of regulatory news and what's happening in the world of professional licensing, government technology, and public policy. Ontario regulators crack down on unregistered cryptocurrency firms, Spain moves toward legalization of medical cannabis for treatment of cancer and other debilitating illnesses, Kansas legalizes sports betting, and more in our latest Week in Brief.

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Ontario regulators crack down on delinquent cryptocurrency firms

A Capital Markets Tribunal for the Ontario Securities Commission (OSC) has begun doling out sanctions to cryptocurrency firms operating in the province that have failed to meet the appropriate registration requirements. Several of the penalties have been handed down to companies like Mek Global Ltd. and Phoenixfin Pte. Ltd., both of which were found to be violating securities laws by operating the KuCoin platform without registration. To learn more about the companies involved, and the penalties invoked, read more at Investment Executive.

Business leaders express doubts about licensing fees in New Jersey state budget

The business community in New Jersey is feeling the heat after this year’s proposed state budget called for $38.5 million in professional licensing fees to be transferred to a general fund, where the money can be used at the government’s discretion. Business leaders argue that this money should be transferred to the Division of Consumer Affairs (DCA), where it can be used specifically to process the licenses of the professionals in question. Businesses in the state plan on working with the New Jersey government to ensure these funds go toward the expedition and processing of professional licenses. Read more at New Jersey 101.5.

Ohio legislature passes bills to implement in-state license reciprocity

Both the House and Senate in Ohio have passed bills that would allow for universal license recognition for businesses from other states, in a move The Buckeye Institute argues will combat the state’s ongoing labor shortage and encourage businesses from other jurisdictions to operate within the state. Construction and building groups in the state have expressed concerns over the legislation, arguing that relaxed licensing rules will attract unlicensed workers and take away business opportunities from Ohio companies. Read more at The Center Square.

Washington takes disciplinary action against healthcare licensees accused of misconduct

Washington’s State Department of Health has begun revoking and suspending licenses of health care providers found guilty of professional and off-the-clock misconduct. The penalized professionals include a nursing assistant who passed out during a shift while smelling of alcohol, a licensed practical nurse found to have misrepresented her educational credentials, and an emergency medical technician who was charged with two counts of attempted rape of a child. Read more at the official website for the Washington State Department of Health.

Spanish regulators move toward legalization of medical marijuana

Physicians and other healthcare providers in Spain have moved one step closer to being able to prescribe medical marijuana to treat symptoms of cancer, multiple sclerosis, and other debilitating diseases. Assuming the legislation is approved by the Ministry of Health, the Spanish Agency for Medicines and Health Products (AEMPS) has outlined a six-month period during which regulation for the new law will be defined before being implemented. Read more at Canarian Weekly.

Kansas signs sports betting bill into law

Sports betting in Kansas is now legal, thanks to a new bill signed into law by Governor Laura Kelly. The legislation, Senate Bill 84, will allow casinos, restaurants, nonprofit fraternal organizations, and others to maintain sportsbooks. Proponents of the bill argue the legislation will bring much-needed revenue to the state, particularly in Kansas City, due to the presence of professional and college sports teams in the region. Matthew Kredell, a writer for PlayUSA, posits that the bill “could bring in excess of $1 billion in gross wagers and $5 million in revenue to the state.” Read more at the Kiowa County Press.

More news:

  • A doctor in Maine has had his license reinstated after a suspension over writing medical exemptions for the COVID-19 vaccine without properly evaluating his patients. This comes on the heels of various disciplinary actions taken against the doctor over the past decade regarding inappropriate sexual conduct, driving under the influence, and other forms of on- and off-the-clock misconduct.
  • A Miami-Dade Police officer is under investigation after telling a black motorist “this is how you guys get killed out here” during a routine traffic stop. The Miami-Dade Police Department’s investigation will involve thorough review of “the traffic stop, the officer’s comments, and conduct,” according to an official statement.
  • A new law will soon take effect in Minnesota clarifying the packaging and labeling of products containing THC. Under the new law, THC food products “may not contain more than 5 mg of THC per serving, and no more than 50 mg per package.” Business attorney Carol Moss argues that the law should not be seen as a precursor to the full legalization of marijuana in the state.

Also noteworthy:

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IN BRIEF

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Jordan Milian
Written byJordan Milian
Jordan Milian is a writer covering government regulation and occupational licensing for Ascend, with a professional background in journalism and marketing.

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