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US Court Authorizes IRS to Issue Summons for Crypto Investors’ Records
26.9.2022
The Internal Revenue Service (IRS) has obtained a “court order authorizing summons for records relating to U.S. taxpayers who failed to report and pay taxes on cryptocurrency transactions.” The IRS commissioner commented: “The government’s ability to obtain third-party...
ETH Merge Forks, Quantum Computing, Biden Draining Oil Reserves, DOJ Targets Criminal Crypto Use — Week in Review
25.9.2022
With the Ethereum Merge event now successfully completed, new proof-of-work (PoW) forks have emerged to vie for miner acceptance. This, as the United States government, has warned that the post-quantum world is getting closer, and vulnerable cryptography will need to be protected. Amidst red...
California Gov. Newsom vetoes crypto licensing and regulatory framework
25.9.2022
Opposing Assembly Bill 2269, Newsom recommended a “more flexible approach” that would evolve over time while considering the safety of consumers and related costs
South Korea Seizes $184 Million in Crypto Assets From Alleged Tax Dodgers, Reports Reveal
24.9.2022
The government in South Korea has seized cryptocurrency worth around $184 million in two years due to tax arrears, according to local media. The authorities in Seoul started confiscating virtual assets from people accused of tax evasion in 2021. Almost 260 Billion Won in Crypto Seized for...
UK Proposes New Law to ‘Seize, Freeze and Recover’ Crypto Assets Easier and Faster
24.9.2022
The British government has presented the Economic Crime and Corporate Transparency Bill to Parliament that will “make it easier and quicker” for law enforcement agencies “to seize, freeze and recover crypto assets.” The government stressed: “We must ensure that...
Coinbase Receives Approval to Offer Full Suite of Crypto Products in Netherlands
24.9.2022
Crypto exchange Coinbase has received approval to offer its full suite of retail and institutional crypto products and services in the Netherlands. “We have taken strides to work collaboratively with government, policymakers, and regulators to shape the future in a responsible way,”...
Framework to ban members of Congress and SCOTUS from trading stocks includes crypto provision
23.9.2022
A bill based on the proposed framework banning crypto investments could help to "restore the public's faith and trust in their public officials," according to Zoe Lofgren
Pentagon contracts with Inca Digital for a security-focused digital asset mapping tool
23.9.2022
The creator of the Nakamoto Terminal will help the government and businesses understand the interaction of traditional and digital financial systems and track money into and out of blockchains
El Salvador's Bitcoin decision: Tracking adoption a year later
23.9.2022
El Salvador made history last year in September by making BTC a legal tender. One year later, the falling BTC prices and delayed Volcanic bonds have fueled skepticism
Brazilian Federal Police Launch Operation Colossus, 6 Cryptocurrency Exchanges Involved
23.9.2022
The Brazilian Federal Police and the Brazilian tax authority have launched the final stage of “Operation Colossus,” a movement that has executed hundreds of court orders against cryptocurrency exchanges, arbitrage agents, and fake companies in four states of the country....
Bank of Russia, Finance Ministry Agree on Crypto Mining Regulation, Law Expected Soon
22.9.2022
Major government institutions in Moscow, the central bank and the finance ministry, have aligned their positions on the regulation of cryptocurrency mining in the Russian Federation. The respective bill will soon be filed with the State Duma, a high-ranking member of the house unveiled. Financial...
Regulated fintech in Bahrain enables crypto payments with Binance
22.9.2022
The Central Bank of Bahrain gives the nod to EazyPay, launching crypto payments for more than 5,000 payment gateways in the country
Binance Hires Big-Name Former Government Officials to Set Up Advisory Board
22.9.2022
Binance, the world’s largest crypto exchange by trading volume, has rounded up prominent former government officials to act as a global board of advisers as the company negotiates the regulatory and political minefield the crypto industry finds itself in
Indian Government Working on How GST Tax Could Be Applied to Crypto
22.9.2022
India’s ministry of finance is reportedly working on how the goods and services tax (GST) could apply to crypto transactions. “A better understanding of how cryptocurrencies fit into our legal system is the prerequisite for the decision on the GST rate,” a source told local...
Binance receives green light for crypto services in Dubai
21.9.2022
The new MVP License is a transition from a provisional license received under a new regulatory framework earlier this year
China to Expand Digital Yuan Testing in Pilot Cities to Provincial Level
21.9.2022
China’s central bank intends to enlarge the area covered by trials of its digital yuan currency in four regions of the country. A top representative of the monetary authority announced the move while highlighting that the People’s Bank has been stepping up digitalization efforts this...
India to Finalize Stance on Legality of Cryptocurrency by Q1 2023: Report
21.9.2022
The Indian government is reportedly planning to finalize its stance on the legality of cryptocurrency by the first quarter of next year in order to become Financial Action Task Force (FATF) compliant. “We will finalize our responses by February-March 2023. We have to respond to the FATF...
Ukraine to Revise Virtual Assets Law in Line With EU Crypto Rules
20.9.2022
Work is underway in Ukraine to update the legal act that applies to cryptocurrencies in order to align the nation’s legislation with European standards. Several government institutions in Kyiv are preparing changes to the bill “On Virtual Assets,” which was signed into...
Bitcoin vs. Quantum Computers: US Government Says Post-Quantum World Is Getting Closer, CISA Warns Contemporary Encryption Could Break
20.9.2022
According to the U.S. Cybersecurity and Infrastructure Security Agency (CISA), while quantum computers are incapable of breaking public key encryption algorithms, public and private entities need to prepare for future threats against cryptography that is not quantum resistant. Most...
US Treasury official says crypto mixers are a 'concern' in enforcing sanctions
20.9.2022
Assistant secretary at the Treasury Department Elizabeth Rosenberg said sanctioning crypto mixers could help deter money laundering from entities in Russia, Iran, and North Korea