Regulation

Newly-Elected U.S. Senator Explains on TV Why Bitcoin Is a Good Store of Value

On Friday (November 13), Cynthia Lummis, the newly-elected U.S. senator for the state of Wyoming, spoke about Bitcoin on live TV during an interview with ABC News. The 66-year conservative Republican, who was endorsed byPresident Donald Trump, was declared the winner of the U.S. Senate race in Wyoming on November 3, thereby becoming Wyoming’s first […]

Government Could Might Action if Bitcoin Price Goes Above $100K, Says Former Coinbase CTO

Angel investor and former Coinbase CTO Balaji Srinivasan thinks the U.S. government will be forced to take action against bitcoin if the price continues to gain against the dollar.

U.S. Stocks May Benefit From a GOP-Controlled Senate, But Why Is Bitcoin Rallying?

U.S. stocks did well on Wednesday (November 4), with the Nasdaq Composite closing 3.85% higher. However, Bitcoin seems to be rallying even harder. This article tries to explain why both U.S. stocks and Bitcoin are going up. Although the election results in the U.S. are not quite clear yet and it might be some time […]

European Central Bank Floats Possibility of Decentralized Digital Euro

The European Central Bank (ECB) has asked the public to comment on the development of a digital euro, including the use of decentralization.  According to a series of tweets published by ECB President Christine Lagarde, the E.U.’s central bank is looking for feedback on a digital euro. Lagarde said the bank was exploring the possibility […]

Former PBoC Governor: Digital Yuan Will Fight ‘Dollarization’ of Chinese Economy

The former head of the People’s Bank of China said the digital yuan would combat “dollarization” of the country’s economy.

Monero Up 200% Year-to-Date, Hits 2-Year High Amidst Regulatory Concerns

Privacy-focused cryptocurrency Monero is up 200 percent year-to-date after reaching a 2-year price high on October 26.

Ripple CEO Talks About Crypto Regulations

During a recent interview at the (virtual) four-day DC Fintech Week 2020 conference (October 19-22, 2020), Brad Garlinghouse, the CEO of FinTech firm Ripple talked about Bitcoin, XRP, and how the current regulatory climate in the U.S. affects cryptoassets. The interview with the Ripple CEO was on day one of the conference. (In the video […]

CFTC Commissioner Dan Berkovitz Talks Crypto Regulations, BitMEX Complaint

CFTC Commissioner Dan Berkovitz explained his background working with private clients interested in digital currencies and provided a take on the BitMEX complaint.

‘Crypto Mom’ SEC Commissioner Hester Peirce on Regulatory Challenges Facing DeFi

Earlier this week, Hester Peirce, whose renomination as Commissioner at the U.S. Securities and Exchange Commission (SEC) was confirmed by the U.S. Senate on August 6, spoke about regulatory challenges facing decentralized finance (DeFi). Commissioner Peirce’s remarks about DeFi while she was speaking with journalist Laura Shin on day one of the two-day (virtual) LA Blockchain […]

97% of Those Consulted Opposed the FCA’s Ban on Crypto Derivatives and ETNs for Retail Investors

The Financial Conduct Authority (FCA), UK’s markets watchdog, banned the sale of crypto derivatives and exchange-traded notes (ETNs) for retail investors earlier this week, but a public consultation process saw 97% of participants oppose the ban. In a 55-page report by the FCA, responses from companies that sell derivatives, cryptocurrency exchanges, trade bodies, individuals, and […]

UK Markets Watchdog Bans Sale of Crypto Derivatives and ETNs to Retail Investors

The UK’s markets watchdog, the Financial Conduct Authority (FCA) has banned the sale of cryptocurrency derivatives and exchange-traded notes (ETNs) to retail investors. In an announcement, the FCA reveals it considers crypto derivatives and ETNs to be “ill-suited for retail consumers due to the harm they pose.” The regulator added that these products “cannot be […]

Cryptocurrency Promoter John McAfee Indicted for Tax Evasion, Arrested in Spain

According to the U.S. Department of Justice (DOJ), the indictment that was unveiled yesterday (following McAfee’s arrest) charges him with “tax evasion and willful failure to file tax returns.” The DOJ’s press release says that this indictment (dated 15 June 2020) alleges that for the 2014-2018 period John David McAfee “failed to file tax return” […]

European Central Bank Tells EU to Prepare for Digital Euro

European Central Bank executive board member Fabio Panetta says the EU must begin preparing for the development of a digital Euro to compliment physical cash.

Former Bitfinex Trader Joe007: U.S. SEC Might Take Closer Look at Uniswap ($UNI)

On Thursday (October 1), “Joe007”, a former well-known pseudonymous trader on Bitfinex, warned traders that following the recent action by CFTC against BitMEX, it might not be long before the SEC decides to take a closer look at Uniswap. On Thursday, the U.S Commodity Futures Trading Commission (CFTC) announced that it had brought charges against […]

Venezuela’s President Introduces Cryptocurrency Bill to Avoid Economic Sanctions

Venezuela president Nicolas Maduro has introduced a new bill that will explore crypto-assets as an avenue for avoiding economic sanctions.

CFTC Brings Charges Against Owners of Crypto Derivatives Exchange BitMEX

On Thursday (October 1), The U.S Commodity Futures Trading Commission (CFTC) announced that it had brought charges against “five entities and three individuals” that own and operate the crypto derivatives exchange BitMEX. CFTC’s press release (“Release Number 8270-20”) said that the agency had filed “a civil enforcement action in the U.S. District Court for the Southern […]

Bank of New York Mellon Allegedly Aided OneCoin Ponzi Scheme’s $4 Billion Fraud

Bank of New York Mellon has been accused of playing a role in the $4 billion Ponzi Scheme OneCoin, according to an updated court filing.

Everyone Will Use China’s Digital Currency, Says Bitcoin and Ether Startup Investor

Cryptocurrency pioneer Chandler Guo says “one day everyone in the world” will use China’s state-backed digital yuan.

Russian Authorities Backlist Crypto Exchange Binance’s Website

Russian authorities have blacklisted the website of major cryptocurrency exchange Binance, although access to it has not been blocked by the country’s telecom regulator Roskomnadzor. In an announcement Binance published on its Russian telegram channel, it reveals Roskomnadzor added the cryptocurrency exchange’s website to the register of platforms disseminating prohibited information, reportedly because of distribution […]

Russia Proposes Jail Time for Undeclared Crypto Wallets

Russia’s Finance Ministry is drafting a new bill that would impose fines and up to three years in prison for crypto-asset investors who fail to properly disclose their holdings.

Venezuela Legalizes Crypto Mining, Forces Miners to Use National Mining Pool

The Venezuelan government has published a new decree in the Official Gazette legalizing cryptocurrency mining, but with a catch: crypto miners have to use a national mining pool. According to local news website CriptoNoticias, the new decree was authorized by Joselit Ramirez, head of Venezuela’s National Superintendency of Crypto Assets and Related Activities (SUNACRIP). It […]

Bahamas Set to Launch Sand Dollar Digital Currency Next Month: Bloomberg

The Bahamas is set to launch the world’s first sovereign digital currency ahead of major world powers such as China.

India Is Reportedly Planning to Ban Cryptocurrency Trading

India is reportedly planning on introducing a new law to ban cryptocurrency trading in the country, a move that would be a blow to the rapidly growing cryptocurrency scene in the country. According to Bloomberg, the new law is expected to be discussed shortly by the federal cabinet, before being sent to the country’s parliament. […]

Alleged ETH Pyramid Scheme Forsage Continues to Attract Investors Despite Warnings

Ethereum-based protocol Forsage continues to gain investment despite regulators warning that the project is a Ponzi scheme.

Mastercard Launches Platform for Central Banks to Test Digital Currencies

Financial services giant Mastercard has launched a platform to allow central banks and test firms test digital currencies.

Major Indian Think Tank: Bitcoin ‘Should Be Traded’ Like Stock

Deepak Kapoor, founder of the Begin India Think Tank, says bitcoin should be traded like stocks and given the same legal protections.

Russian Authorities Block Country’s Top Crypto Exchange Aggregator

Russian authorities have blocked BestChange.ru, a major cryptocurrency exchange aggregator in the country, shortly after lawmaker passed crypto legislation banning cryptocurrency transactions. The aggregator reportedly includes 400 local cryptocurrency websites and included information on exchange rates between different cryptoassets. It was blocked by Russian telecom regulator Roskomnadzor for “mentions of Bitcoin cryptocurrency,” an announcement on […]

Iran Shuts Down 1,100 Illegal Cryptocurrency Mining Farms

Iran’s Power Generation, Distribution and Transmission Company (Tavanir) has reportedly shut down 1,100 unlicensed cryptocurrency mining farms in the country after being tipped off by whistleblowers. According to a report by the Financial Tribune, the firm is planning to reward whistleblowers with 100 million rials ($480) for cooperating with energy officials in identifying illegal cryptocurrency […]

SEC Shuts Down Blockchain Jobs Platforms, Orders It to Destroy Its ICO Token Holdings

The U.S. Securities and Exchange Commission (SEC) has announced charges against a blockchain-based jobs platform, Boon.Tech, and its chief executive officer, Rajesh Pavithran, over its failure to register their initial coin offering (ICO) token as a security and allegedly misleading investors. According to an announcement made by the agency, Boon.Tech and its CEO raised $5 […]

Grayscale Ethereum Trust Files to Status of Reporting Company With SEC

Grayscale Investments has voluntarily publicly filed a Registration Statement on Form 10 with the U.S. Securities and Exchange Commission (SEC) for its Ethereum Trust (ETHE) to obtain reporting status. If the filing is approved by the SEC, the Ethereum Trust will be the second cryptoasset investment vehicle ever to obtain the status of a reporting […]

Czech National Bank Board Member Criticizes CBDCs as Helicopter Money

A Czech National Bank board member has criticized the use of central bank digital currencies (CBDCs) for raising more questions than answers and being another version of “helicopter money.”

U.S. Banks Can Now Offer Crypto Custody Services, Says Federal Regulator

The Office of the Comptroller of the Currency (OCC) is letting nationally chartered banks in the U.S. provide custody services for cryptocurrencies, according to a public letter from Senior Deputy Comptroller and Senior Counsel Jonathan Gould.

Coinsquare Accused of Market Manipulation by Canadian Regulator

Toronto-based cryptocurrency exchange Coinsquare has been accused of market manipulation by Canadian regulators after the company allegedly manipulated its trading volume. 

Malaysian Regulator Adds Binance to List of Unauthorized Firms

Malaysia’s Securities Commission (SC) has added popular cryptocurrency exchange Binance to its list of unauthorized companies, saying the platform is “operating a recognized market without authorization.”

Japan Serious About Issuing a Central Bank Digital Currency: Report

The government and Bank of Japan are seriously considering issuing a central bank digital currency to replace the current yen, including a potential partnership with the U.S. and European countries. 

Brazils Securities Watchdog Blocks Binance From Offering Derivatives

Brazil’s Securities and Exchange Commission has ordered Binance to cease offering derivative products in the country after ruling they constituted a securities intermediary.

President Trump Wanted to ‘Go After Bitcoin’ in 2018, John Bolton Reveals

Former national security advisor John Bolton claims in his new book that President Donald Trump wanted to crack down on the trading and selling of crypto-assets in May 2018.  

Bank of Canada Reveals Plans for Digital Currency in New Job Posting

The Bank of Canada has revealed its plans for a central bank digital currency (CBDC) in a job posting for the protocol’s Project Manager. 

Home Seller Sues Buyer Over Attempt to Pay in Worthless Crypto

Mary Shea, a California-based psychologist looking to sell her home, has sued a potential buyer, Mike Cherwenka, over the latter’s attempt to pay 30% of the property’s value in the form of a “worthless” cryptocurrency called “Troptions.Gold.”

JPMorgan Chase Positively Wades Into Crypto After Years of Hate

JPMorgan Chase & Co, the financial services giant, will begin providing banking services to the two biggest American crypto exchanges: Gemini and Coinbase.

Telegram Pulls Plug on Its TON Blockchain Platform and Gram Tokens

Telegram is pulling the plug on its Telegram Open Network (TON) blockchain platform and the Grams token, after years of battling with the U.S. Securities and Exchange Commission (SEC).

German Court Rebukes 1 Trillion ECB Quantitative Easing Program

A German court has ruled that the European Central Bank’s (ECB) quantitative-easing program is not backed by European Union treaties and have issued a three-month ultimatum to rectify the controversial measure.

Elon Musk and Roger Ver Say That It Is Time to End the COVID-19 Lockdowns

Tesla CEO Elon Musk and Bitcoin.com chairman Roger Ver have both called for an end to the sweeping stay-at-home restrictions. 

Crypto Tax Reporting: The Ultimate Guide For Algorithmic Traders

In most countries around the world, the income generated from investing in cryptocurrencies like bitcoin needs to be reported on your taxes. This type of tax reporting is no different from stocks, equities, or other forms of property. However, for cryptocurrency traders, especially high-volume ones, the process can become tedious. In this guide, we break down crypto taxes, how they work, and the step-by-step approach you can take to properly file your taxes.

Rich Dad Poor Dad Author Keeps Promoting Bitcoin Amid Fed’s Bailouts

Rich Dad Poor Dad author Robert Kiyosaki has continued his criticism of the Fed’s money printing tactics in response to the coronavirus while giving his support for bitcoin and precious metals. 

Rich Dad Poor Dad Author Explains His Endorsement of Bitcoin

Rich Dad Poor Dad author Robert Kiyosaki explained his endorsement of bitcoin, saying the asset was an escape from the traditional financial markets. 

Former White House Communications Chief Scaramucci Calls for More Helicopter Money

Former White House Communications chief Anthony Scaramucci says the US will need to provide more “helicopter money” in order to bolster the economy, in addition to the $2 trillion stimulus package already pledged. 

Binance Battles Brazilian Diplomat Trying to Register its Brand

Leading cryptocurrency exchange Binance is battling a Brazilian diplomat, Paulo Renato Dallagnol, after he registered the website Binance.com.br and its brand at the National Institute of Industrial Property (INPI).

Crypto Rating Council Evaluates Three New Cryptocurrencies as Securities

The Crypto Rating Council, a collection of US-based crypto firms that promotes regulation in the industry, has released ratings for IOTA, Basic Attention Token and USDCoin. 

The Two Faces of the German Crypto Boom: Crypto Geography

Germany is a synonym for quality. Whether it’s German goods or services, they are always in high demand. Over the last couple of years, this reputable country has made an about turn in policy being dubbed the “Crypto capital of the EU”. 

Venezuelan Petro Price Swings Wildly Off Peg, as Oil Price Plummets

PTR’s official, government-defined price is wildly out of sync with fluid global markets. The token, supposedly pegged to one barrel of crude oil, still being valued out-of-market at more than double the market price.

Malta’s Financial Watchdog Warns Against Two Cryptocurrency Exchanges

Malta’s financial watchdog, the Malta Financial Services Authority (MFSA), has issued statements against two cryptocurrency trading platform that reportedly don’t have licenses to operate in the country.

Bitcoin Fails as a Currency, Brazils Banking Federation Head Says

Murilo Portugal, president of the Brazilian Federation of Banks, says that cryptocurrency fails to fulfil the three basic tenants of fiat currency. 

Fiat Currencies May Be Gone by End of Year, Says GoldMoney Research Head

GoldMoney Insight’s head of research Alasdair Macleod says fiat currency may not survive the end of the year following the economic crisis and response generated by the coronavirus pandemic. 

Bitcoin Prices Dip Following $2 Trillion Stimulus Deal By U.S. Congress

Bitcoin prices reacted to the announcement on Wednesday that the US White House and Congress had reached an agreement over a $2 trillion stimulus deal that would provide economic relief for the ongoing coronavirus pandemic. 

New Coronavirus Legislation Eyes Digital Dollar to Ease Recession

Proposed legislation meant to support the U.S. economy during the coronavirus pandemic seemingly includes a recommendation to create “digital dollar” that could help the country get through the shutdown of business over the coronavirus outbreak.

Deutsche Bank Strategists Warn of ‘Hyperinflation’ Generated by Anti-Coronavirus Policies

Two Deutsche strategists are warning over “hyperinflation” generated by helicopter money being introduced into the market by governments in response to the coronavirus pandemic. 

Binance.US CEO: US Gov. Should Use Stablecoin for Coronavirus Payments

BInance.US CEO Catherine Coley says the US government should use a stablecoin to issue emergency coronavirus payments. 

Bitcoin Provides a Modern Solution for Unhygienic Fiat Currency

Bitcoin provides a modern and hygienic approach to money exchange compared to fiat, which has quickly become outdated in light of the coronavirus outbreak. 

Former Bakkt CEO Under Fire for Selling Millions in Stock Ahead of Market Crash

Senator Kelly Loeffler, former CEO of the Intercontinental Exchange’s cryptocurrency-venture Bakkt, has been under fire for selling millions of dollars worth of stock ahead of the recent market crash induced by the novel coronavirus pandemic.