Regulation

With the deadline approaching for filing the 2022 federal income tax return, the Internal Revenue Service (IRS) — an enforcement agency of United States federal tax laws — released a list of reporting requirements for the general public dealing with cryptocurrencies. Until 2021, the IRS used the term “virtual currencies” in income tax-related reporting forms,

The United States Federal Reserve Board announced Jan. 27 that it was issuing a policy statement on limitations on banks. The policy seeks to create a level playing field and limit regulatory arbitrage for state banks with deposit insurance, state banks without deposit insurance and national banks, which are overseen by the Office of the

The United State Federal Reserve Board has rejected Custodia Bank’s application to become a member of the Federal Reserve System. In its announcement, the Fed stated that the application was “inconsistent with the required factors under the law.” It also claimed Custodia had an “insufficient” management framework and cited an earlier joint declaration by the

Wendy Rogers, an Arizona state senator in the United States, has launched bills concerning cryptocurrency, including one that aims to make Bitcoin (BTC) legal tender in Arizona.  In a recent tweet, Rogers cited data from investment firm Goldman Sachs that BTC is the best-performing asset in the world and announced that she launched a set

Despite the plans to turn the region into a bustling crypto hub, the United Kingdom’s financial watchdog says it has given the all-clear to only 41 out of 300 crypto firm applications seeking regulatory approval to date. The U.K. Financial Conduct Authority (FCA) implemented the new cryptocurrency-focused regulations on Jan. 10, 2020, to supervise businesses

Lawyers representing FTX in bankruptcy court have reportedly argued that former CEO Sam Bankman-Fried’s immediate family should face questioning regarding their personal wealth. According to a Jan. 26 report from Bloomberg, FTX’s lawyers requested Judge John Dorsey in the District of Delaware allow them to question Joseph Bankman, Barbara Fried and Gabriel Bankman-Fried — the

Authorities in the United States might have discovered yet another possible component of Sam Bankman-Fried’s (SBF) cryptocurrency empire. U.S. federal prosecutors have alleged that Bankman-Fried has used money from FTX exchange to invest in the venture capital firm Modulo Capital, according to a report by The New York Times. As previously reported, SBF’s hedge fund

A spokesperson for USD Coin (USDC) issuer Circle has denied reports that it blames the United States Securities and Exchange Commission (SEC) over its failed $9 billion plan to go public in December. The stablecoin issuer representative was responding to a Jan. 25 Financial Times article which characterized Circle as having “blamed” the securities regulator for its “derailed”

A judge overseeing bankruptcy proceedings for crypto lending firm Celsius Network has denied motions from three users with different claims on assets stuck since July. In orders filed with the United States Bankruptcy Court in the Southern District of New York on Jan. 25, Judge Martin Glenn denied a motion from Rebecca Gallagher, a Celsius

Bitcoin Cash (BCH) advocate Roger Ver has sued by a unit of crypto lending firm Genesis over unsettled crypto options amounting to $20.8 million.  GGC International, a part of the bankrupt crypto lender, filed the suit against Ver in the New York State Supreme Court on Jan. 23, claiming that the BCH proponent has failed to

A United States appeals court is set to hear the oral arguments relating to Grayscale Investment’s lawsuit against the Securities and Exchange Commission (SEC) over its decision to deny Grayscale’s Bitcoin (BTC) spot exchange-traded fund (ETF). According to a court motion filed on Jan. 23, both sides will present their arguments at the District of

Although he’s had a variety of jobs in the industry, including a stint as Arcane Asset’s chief investment officer, Eric Wall is probably best known for shitposting and arguing with people on Crypto Twitter. “Just like any other person, I’m scrolling my Twitter feed, and then you see people saying dumb shit that is incorrect,

The policy decision-makers in the United Kingdom are divided on whether the sale, marketing, and distribution of derivatives and exchange-traded notes (ETNs) tied with cryptocurrencies should be prohibited when it comes to retail investors. The Regulatory Policy Committee believes the measure, adopted in 2021, is unjustified under the current circumstances.  The chief British regulator, the

The approach to crypto regulatory enforcement by the United States Securities and Exchange Commission (SEC) stalled the advancement of Bitcoin (BTC) in the country, according to the CEO of Grayscale Investments. In a letter published in The Wall Street Journal on Jan. 23, the chief of the cryptocurrency asset management firm, Michael Sonnenshein, said he

The New York Department of Financial Services, or NYDFS, has released guidelines on how licensed crypto firms should handle customer assets should they face “insolvency or similar proceeding”. In a Jan. 23 announcement, NYDFS superintendent Adrienne Harris said crypto firms and exchanges operating under a BitLicense — required in New York state — should segregate

Australian crypto executives have urged caution over lumping all digital assets in the same boat as financial products, after recent comments from Australia’s assistant treasurer on the matter. Assistant Treasurer and Minister for Financial Services Stephen Jones gave an overview of the state of crypto regulation in the country in an interview with the Sydney Morning

The United States Securities and Exchange Commission has followed the Commodity Futures Trading Commission and others in filing parallel charges against the crypto user allegedly behind a multimillion-dollar exploit of decentralized exchange Mango Markets. In a Jan. 20 notice, the SEC alleged Avraham Eisenberg manipulated Mango Markets’ MNGO governance token, allowing him to steal roughly

Crypto will play a “major role” in the United Arab Emirates’ global trade moving forward, says the UAE’s minister of state for foreign trade Thani Al-Zeyoudi. Speaking with Bloomberg on Jan. 20 in Davos Switzerland — where world leaders are currently gathered for the 2023 World Economic Forum — Al-Zeyoudi provided a host of updates

Central African Republic (CAR), a developing country in Central Africa, set up a 15-member committee responsible for drafting a bill on the use of cryptocurrencies and tokenization in the region. According to Faustin-Archange Touadéra, the president of CAR, cryptocurrencies can potentially help eradicate the country’s financial barriers. He believed in creating a business-friendly environment supported

According to new court filings, disgraced FTX founder Sam Bankman-Fried (SBF) will be subject to the forfeiture of roughly $700 million worth of assets if he were to be found guilty of fraud. In a court document filed on Jan 20, U.S. federal prosecutor Damian Williams outlined that the “government respectfully gives notice that the