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US Senator Urges Treasury Secretary to ‘Make Significant Revisions’ to FinCEN’s Crypto Proposal
13.6.2021
U.S. Senator Pat Toomey has urged Treasury Secretary Janet Yellen to “make significant revisions” to the proposed crypto regulation by the Financial Crimes Enforcement Network (FinCEN) and the planned adoption of the guidance issued by the Financial Action Task Force (FATF). Senator...
Canaan Expects $250M Revenue in Q2 — Yields and Mining Rig Deliveries to ‘Increase Substantially’
2.6.2021
The mining rig manufacturer Canaan saw steady profits during the Q1 after reporting its unaudited first quarter 2021 financial results on Tuesday. Canaan noted that it expects to at least sustain current profits or rise above to roughly $150 to $250 million in revenue for Q2. Canaan Expects $250M...
US Lawmaker Pushes for Safe Harbor Legislation to Protect Crypto Investors With Forked Coins
20.5.2021
US Congressman Tom Emmer is pushing for safe harbor legislation to protect taxpayers with forked coins. A bill entitled “Safe Harbor for Taxpayers with Forked Assets Act of 2021” has been introduced to prohibit “penalties against taxpayers attempting to report certain gains...
FATF draft guidance targets DeFi with compliance
16.5.2021
The final guidance expected to be issued by the FATF this summer might determine the next chapter for the decentralized finance space
Bank of International Settlements Chief Says Cryptocurrencies Being Used to Evade Laws- Advocates for More Regulation
26.3.2021
Agustin Carstens, the general manager at the Bank of International Settlements (BIS), has claimed that cryptocurrencies are “used to evade laws and should therefore face more regulation.” Carstens, who has attacked bitcoin in the past, suggests that many crypto assets are “used...
New FATF Guidance Applies Regulatory Standards to Decentralized Exchanges, Defi and NFTs
24.3.2021
On March 19, the Financial Action Task Force (FATF) published draft guidance on the risk-based approach to virtual assets. The newly updated guidance now applies anti-money laundering and know-your-customer rules to stablecoins, decentralized finance (defi), and non-fungible token (NFT) assets....
FATF updates guidance on crypto service providers, calls for public comments
26.2.2021
The Financial Action Task Force is looking to adapt its guidance standards for stablecoins and crypto peer-to-peer transactions
Banks Likely to Adopt Stablecoins Cautiously Despite Guidance
11.2.2021
Banks face a stablecoin conundrum: Build their own projects, with all the overhead that implies, or work with well-placed existing providers
US Library of Congress Says Most Countries Lack Clear Tax Guidance on Crypto Staking
4.2.2021
Out of 31 nations, only 5 have tax guidance addressing cryptocurrency rewards via staking, a study found
Should I Buy Bitcoin? — Switzerland’s Largest Bank UBS Provides Guidance on BTC Investing
25.1.2021
Switzerland’s largest bank, UBS, has published guidance for clients about investing in bitcoin. The bank answers some important questions, such as whether one should buy bitcoin and other cryptocurrencies and whether bitcoin can be used to diversify portfolios. ‘Should I buy’...
IRS Updates Tax Requirements for Cryptocurrency Owners
7.1.2021
The U.S. Internal Revenue Service (IRS) has updated its instructions for disclosing crypto activities. The update provides clarification on who must answer “yes” to the IRS’ crypto question and when it is appropriate to select “no” as the answer. IRS Publishes...
US House Financial Services Chair Waters Recommends Joe Biden Rescind OCC Crypto Guidance
5.12.2020
House Financial Services Chair Maxine Waters told President-elect Joe Biden to undo the OCC's crypto guidance after he takes office next year
CFTC’s New Rules Cause Coinbase to Stop Offering Crypto Margin Trading
25.11.2020
Cryptocurrency exchange Coinbase is disabling its margin trading product in order to comply with the new rules set by the Commodity Futures Trading Commission (CFTC). CFTC’s Rules Affecting Margin Trading Offerings Coinbase’s chief legal officer, Paul Grewal, explained in a blog post...
Coinbase Will Suspend All Margin Trading Tomorrow, Citing CFTC Guidance
24.11.2020
Coinbase plans to suspend all margin trading contracts effective tomorrow, and will end the service entirely by next month
Bill Hinman, who spearheaded the SEC's early crypto guidance, is leaving the commission
27.10.2020
Hinman's commentary on the status of cryptocurrencies and the Howey Test was particularly critical to regulation surrounding ICOs
Tax Payers Must Disclose Airdropped, Forked Cryptos, Says IRS’ Draft 2020 Guidance
26.10.2020
The U.S. tax agency has clarified who needs to answer "yes" to a question over cryptocurrency activity included in the draft 1040 income tax form
CFTC Issues Guidance on Digital Currencies for Futures Commission Merchants
22.10.2020
The CFTC wants futures commission merchants to take care when dealing with customer's funds
Isle of Man Regulator Says Bitcoin, Ether Not Considered Securities in New Guidance
15.10.2020
The island's Financial Services Authority has set out how it will treat cryptocurrencies and crypto assets and which might be regulated as securities
SEC Will Be Forced to Give More Guidance About Crypto: Peirce
10.10.2020
Increased interest in the crypto space will necessitate a more-accommodative stance, the commissioner predicted
PwC’s global crypto tax report reveals the need for further regulatory guidance
2.10.2020
The majority of global jurisdictions have crypto asset taxation guidelines, yet additional frameworks are required to keep up