Stories by Kia Kokalitcheva

SEC Commissioner: We need disclosure rules for token offerings

Photo of Fortune's Jeff Roberts and SEC Commission Hester Peirce.
Fortune's Jeff Roberts (L) and SEC Commissioner Hester Peirce (R). Photo: Stuart Isett/FORTUNE Brainstorm Tech

SEC Commissioner Hester Peirce advocated for a safe harbor approach to cryptocurrencies and digital tokens, while speaking on Tuesday at Fortune's Brainstorm Tech conference in Aspen, Colo. Such a move would effectively permit offerings so long as issuers complied with set disclosure requirements.

Why it matters: The crypto industry has long struggled with a lack of regulatory clarity, often taking guesses as to how it can apply current laws. Thus far, the SEC has mostly expressed its views via one-off enforcement actions.

Substack raises new funds to continue fueling the newsletter boom

Substack, a three-person San Francisco startup that lets users create newsletters and charge their readers, has raised $15.3 million in new funding from Andreessen Horowitz and Y Combinator.

Why it matters: Email newsletters have become the new blogs: Everyone's getting their own and readers are subscribing so they can keep up with their favorite writers and thinkers. The boom in newsletters also comes at a time when the media industry is grappling with figuring out better business models than advertising, with some independent writers opting to build their own small enterprises.

Go deeper: We’re at Peak Newsletter, and I Feel Fine

Congress raises questions on Facebook's Libra coin

Illustration of a Libra coin wearing a hard hat and safety glasses.
Illustration: Aïda Amer/Axios

Facebook’s cryptocurrency plans will face scrutiny in two Congressional hearings this week, during which company exec David Marcus will attempt to abate lawmakers’ concerns.

The big picture: Facebook’s foray into cryptocurrency has caught the attention of Congress like no previous cryptocurrency. As Fed chairman Jerome Powell said last week, any problems with Libra "would arise to systemically important levels just because of the mere size of the Facebook network."