Tag: Regulation

Rep. Beyer introduces far-reaching framework in digital asset bill

Rep. Beyer introduces far-reaching framework in digital asset bill

Representative Don Beyer (D-VA) has introduced a bill that would create a far-reaching regulatory framework for digital assets. The “Digital Asset Market Structure and Investor Protection Act” seeks to delineate the treatment of crypto assets under five securities acts, the Commodity Exchange Act and the Bank Secrecy Act, as well as Federal Reserve treatment of […]

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Kentucky becomes fifth state to ask if BlockFi’s interest accounts are securities, putting new customers on hold

Kentucky becomes fifth state to ask if BlockFi’s interest accounts are securities, putting new customers on hold

According to a Friday tweet from BlockFi, the Kentucky Department of Financial Institutions has issued the firm an order barring it from soliciting or offering securities in the state. Even though the firm believes its interest account product is not a security, it will stop offering it to new customers in Kentucky, it said.  Kentucky […]

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Are looming regulations putting an end to bitcoin’s ‘Wild West’ days?

Are looming regulations putting an end to bitcoin’s ‘Wild West’ days?

  Signs point to the looming specter of regulation slowly bringing the days of bitcoin and crypto’s “Wild West” to an end. The only question, perhaps, is if not now, then when? “We’re getting to a boiling point,” The Block’s Aislinn Keely told The Scoop. On this policy report episode of The Scoop, host Frank […]

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Crypto lobby groups say they’re fighting ‘unworkable’ crypto reporting language in infrastructure bill

Crypto lobby groups say they’re fighting ‘unworkable’ crypto reporting language in infrastructure bill

Crypto-related language said to be contained in a still-in-flux bipartisan infrastructure spending bill has spurred activity lobby groups in Washington, D.C.  On Thursday, the Blockchain Association derided the proposed spending package as one that “threatens crypto innovation.” As previously reported, one of the bills “pay-fors” is tightened tax reporting requirements for crypto companies, which are […]

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Finland Looking for Brokers to Sell Seized Bitcoins Worth $80 Million

Finland Looking for Brokers to Sell Seized Bitcoins Worth $80 Million

Finland’s customs authority is looking for brokers to sell 1,981 bitcoins seized in drug cases. The coins are currently worth nearly $80 million. Finland’s customs authority announced Thursday that it is seeking brokers to sell 1,981 bitcoins seized in drug busts, Bloomberg reported, noting that the coins were forfeited to the state by court order. […]

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Malaysia Takes Enforcement Actions Against Binance, Advises Investors to ‘Withdraw All Investments Immediately’

Malaysia Takes Enforcement Actions Against Binance, Advises Investors to ‘Withdraw All Investments Immediately’

The securities regulator of Malaysia has taken enforcement actions against the global cryptocurrency exchange Binance. Noting that the exchange is operating illegally in the country, the regulator has advised those who currently have accounts with Binance “to immediately cease trading through its platforms and to withdraw all their investments immediately.” Malaysia Issues Public Reprimand Against […]

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Biden to Step Up Crypto Tax Enforcement to Help Fund $1 Trillion US Infrastructure Plan

Biden to Step Up Crypto Tax Enforcement to Help Fund $1 Trillion US Infrastructure Plan

U.S. President Joe Biden and lawmakers have agreed on the details of a roughly $1 trillion bipartisan infrastructure package with measures to step up tax enforcement around crypto assets. Taxing Crypto Transactions to Fund US Infrastructure Plan The White House announced Wednesday that President Joe Biden and a bipartisan group of lawmakers have agreed on […]

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New Jersey’s Order Against Blockfi Extended, Vermont Issues Notice to Crypto Lender

New Jersey’s Order Against Blockfi Extended, Vermont Issues Notice to Crypto Lender

On July 28, Zac Prince, the CEO of crypto finance firm Blockfi, explained that the company has been “engaged in a productive discourse” with U.S. regulators. Prince further said the New Jersey Bureau of Securities had extended the state’s previous order to September 2. Meanwhile, the company also has issues with Vermont’s Department of Financial […]

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White House says crypto tax enforcement will help pay for bipartisan infrastructure deal

White House says crypto tax enforcement will help pay for bipartisan infrastructure deal

A months-in-the-making infrastructure bill in the U.S. Senate will be partially paid for by enhanced tax enforcement of cryptocurrency, the White House said Wednesday. Though the text of the legislation — said to be struck Wednesday after a long period of at-times acrimonious negotiations between Democrats and Republicans on Capitol Hill — is not publicly […]

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US Senator Says Cryptocurrencies Put Americans’ Hard-Earned Money at Risk

US Senator Says Cryptocurrencies Put Americans’ Hard-Earned Money at Risk

U.S. Senator Sherrod Brown says cryptocurrencies are not real dollars and they “put Americans’ hard-earned money at risk.” Referring to decentralized finance (defi) as “a shady, diffuse network of online funny money,” he said, “if we want a solution to Americans’ legitimate fears about our banking system, shady start-ups are not the answer.” Senator Brown’s […]

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