IRS Seeks to Tax NFTs Like Other Collectibles
[Mar 21, 2023 8:56 AM] Digital proofs of ownership will be taxed like the underlying assets until rules on how to treat assets in retirement accounts are finalized
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India’s Central Bank Seeking Privacy Legislation for Retail CBDC Users
[Mar 21, 2023 7:26 AM] India's central bank is advocating for legislation that will allow users of its retail central bank digital currency (CBDC) to delete any transactions in order to maintain anonymity.
UK Crypto White List Needed to Solve 'Debanking,' Lobby Group Says
[Mar 21, 2023 5:43 AM] British banks have said they keep people away from crypto for their customers' own protection
EU Crypto Banking License Procedures Are Too Inconsistent, ECB Says
[Mar 21, 2023 5:30 AM] The eurozone supervisor is seeking to smooth out a process dominated by German and Luxembourgish banks.
U.S. Supreme Court to Hear First-Ever Crypto Case Tomorrow
[Mar 20, 2023 2:22 PM] The U.S. Supreme Court will hear arguments in its first ever crypto-related case on Tuesday, when lawyers for San Francisco-based crypto exchange Coinbase will attempt to convince the nine Justices to pause a pair of class action lawsuits against…
No Crypto Banking Port Has Really Opened Up in This U.S. Storm
[Mar 20, 2023 8:49 AM] The biggest U.S. banks have not stepped forward to welcome homeless crypto businesses scrambling for banking services after fleeing the wreckage of Silvergate Bank, Signature Bank and Silicon Valley Bank.
Belgian Crypto Ads Must Warn of Risks Under New Rules
[Mar 20, 2023 7:01 AM] The Financial Services and Markets Authority will have to be notified of major ad campaigns, as a survey reveals crypto investors are often trying to get rich quick.
Crypto.com Moves Closer to an Operational License in Dubai
[Mar 20, 2023 4:59 AM] Singapore-based digital asset trading platform Crypto.com has received a preparatory license from Dubai's Virtual Digital Assets regulator.
EU’s MiCA Crypto Law Debate Scheduled for April 18
[Mar 20, 2023 4:40 AM] A final vote on the bloc’s Markets in Crypto Assets Regulation, which brings in a new licensing regime, is due April 19.
Dutch Financial Regulator Vows Strict Treatment of Crypto Business Under MiCA
[Mar 19, 2023 4:00 AM] The financial regulatory body of the Netherlands intends to maintain tough attitude towards the Dutch digital assets sector despite looser European rules. The head of the agency overseeing the industry doesn’t think crypto is good news and…
UBS Considers Acquiring Credit Suisse, Requests Government Backstop in Deal
[Mar 18, 2023 2:30 PM] After Credit Suisse Group AG announced it would borrow 50 billion Swiss francs from the Swiss National Bank, UBS Group AG is reportedly considering acquiring the banking giant. However, UBS is requesting that the government issue a backstop to…
Netherlands Will Take Tough Line Enforcing MiCA, Dutch Regulator Says
[Mar 17, 2023 9:07 AM] Laura van Geest said she won’t undercut new EU crypto laws even if that drives business from the country.
Former Belgian Finance Minister Calls for Crypto Ban in Wake of Banking Crisis
[Mar 17, 2023 5:27 AM] Johan van Overtveldt, economic spokesperson for the right-wing ECR political party in the European Parliament, compared crypto to drugs.
Genesis Requests Timetable for Sale, Creditor Claims
[Mar 17, 2023 4:07 AM] The company wants to sell off its business after filing for bankruptcy on Jan. 19.
FDIC Denies Report Signature Bank Purchaser Must Divest Crypto
[Mar 16, 2023 7:09 PM] The Federal Deposit Insurance Corporation denied it would require any purchaser of Signature Bank to divest its crypto activities.
Is Ether a Security?
[Mar 16, 2023 5:38 PM] Last Thursday morning, I wondered whether I needed to write a follow-up piece about Silvergate Bank. On Thursday evening, I wondered whether my main topic should instead be about ether potentially being a security. And then, obviously, some things…
Report: US Government Auctions Off Failed Banks SVB and SNBY, Crypto Restrictions Apply
[Mar 16, 2023 12:00 PM] The U.S. government and the Federal Deposit Insurance Corporation (FDIC) are auctioning off two failed American financial institutions, Silicon Valley Bank (SVB) and Signature Bank (SNBY), this week, with bids due by March 17. However, sources…
Russian Crypto Industry Association Asks Putin to Help With Regulations
[Mar 7, 2023 10:30 PM] The organization representing Russia’s crypto and blockchain sector has urged Vladimir Putin to spur regulatory efforts. The association fears the Russian Federation may lag behind other nations if it maintains its conservative approach towards new…
Investment Fund Focused on Crypto Mining to Be Created in Russia
[Mar 3, 2023 1:30 AM] The establishment of Russia’s first mutual investment fund dedicated to financing cryptocurrency mining operations is underway. According to a report by the Russian press, it will be available to qualified investors and will finance the acquisition…
Tel Aviv Stock Exchange Takes Steps to Allow Crypto Trading
[Feb 28, 2023 5:30 PM] Israel’s public stock exchange is suggesting regulatory amendments that would permit some clients to trade crypto assets. The proposals, which have been put forward for public consultation, come at the backdrop of a growing number of regulated…
IMF prefers to regulate crypto than banning it outright: Report
[Feb 26, 2023 10:36 PM] On the sidelines of the G20 meeting in India, IMF managing director Kristalina Georgieva said the agency would prefer to regulate crypto than an outright ban.
SEC is not the appropriate regulator for stablecoins: Circle CEO
[Feb 23, 2023 9:20 PM] Circle boss Jeremy Allaire maintains that "payment stablecoins" are payment systems, not securities.
US regulatory crackdown leads to $32M digital asset outflows: CoinShares
[Feb 20, 2023 10:20 PM] Institutional investors are feeling the heat as the SEC targets all aspects of the crypto industry in the United States.
Uzbekistan Allows Foreign Firms to Deposit Funds From Crypto Trading, Restricts Other Operations
[Feb 16, 2023 3:00 PM] The Central Bank of Uzbekistan has permitted foreign-based businesses to open domestic bank accounts and deposit funds received from cryptocurrency trading. These companies will also be able to transfer the money abroad, but operations in the…
Binance readies checkbook for potential fines from US regulators: Report
[Feb 15, 2023 10:44 PM] The world’s largest crypto exchange wants to resolve outstanding investigations with U.S. regulators.
Income Tax Applies to Crypto Trading in Bosnia, Tax Administration Says
[Feb 13, 2023 5:00 AM] Individuals are expected to pay income tax on gains from cryptocurrency trading, the tax authority of Bosnia has determined. In the absence of dedicated regulations, the federal government in Sarajevo has set up a working group to assess various…
Kazakhstan Law Limiting Crypto Miners’ Consumption of Electricity Enters Into Force
[Feb 10, 2023 9:30 PM] A new law expanding the regulatory framework for cryptocurrency miners while restricting their access to low-cost electricity has entered into force in Kazakhstan. The legislation introduces a licensing regime for mining with two different…
Coinbase CEO Brian Armstrong Expresses Concern Over Rumors of SEC Ban on Crypto Staking for Retail Customers
[Feb 9, 2023 11:30 AM] Brian Armstrong, CEO of Coinbase, expressed concern about rumors that the U.S. Securities and Exchange Commission (SEC) may eliminate cryptocurrency staking for retail customers in the United States. Armstrong insisted that “staking is not a…
Localbitcoins, the Pioneer P2P Bitcoin Exchange, Shuts Down After a Decade of Service Due to Crypto Winter
Kazakhstan Launches Consultation on Proposals to Improve Crypto Trading
[Feb 4, 2023 4:00 AM] Financial authorities in Kazakhstan are starting a public consultation on draft changes to the country’s framework for digital-asset trading. The proposals include measures to reduce risks in the crypto market and improvements to the structure of…