United States Financial News

16.11 / 22:21

regulation legislation Public needs to know blockchain use cases, AI needs regulation now — Andrew Yang

Andrew Yang, former candidate for United States president and New York City mayor and founder of the Forward Party, had sobering observations about the uses of blockchain, or its lack of use, in the United States and U.S. regulation of artificial intelligence (AI) when he spoke Nov. 16 at the North American Blockchain Summit (NABS) in Fort Worth, TX.

15.11 / 21:33

regulation crimes Congress Terrorism Financial Services services Financial US House Financial Services subcommittee looks for answers on crypto and crime

The United States House Financial Services Subcommittee on Digital Assets, Financial Technology and Inclusion received an education in the uses of blockchain technology in a hearing entitled “Crypto Crime in Context: Breaking Down the Illicit Activity in Digital Assets” on Nov. 15. The hearing was bipartisan in nature, chair French Hill stated at the outset.

15.11 / 02:29

Law NFT regulation Court Creator of Mutant Ape ripoff NFTs pleads guilty to $3M fraud scheme

The creator of the Mutant Ape Planet nonfungible token (NFT) collection — a knock-off of Yuga Labs’ Mutant Ape Yacht Club project — has pleaded guilty to conspiracy to commit wire fraud in a New York federal court.

14.11 / 19:55

Law regulation sanctions Court Tornado Cash Tornado Cash users file appeal over judgment in favor of US Treasury

A group of Tornado Cash users has filed an appeal in federal court following a ruling upholding the United States Treasury’s decision to add the cryptocurrency mixer to its list of sanctioned entities.

13.11 / 23:29

CBDC regulation Asia APEC finance ministers to share perspectives on crypto at meeting in San Francisco

The weeklong Asia-Pacific Economic Cooperation (APEC) summit began on Nov. 11 in San Francisco. The highlight of the event will surely be on the sidelines, when United States President Joe Biden and Chinese leader Xi Ping meet on Nov. 15. But with the focus of the organization being on the regional economy, the finance ministers’ meeting is also of primary importance.

13.11 / 23:29

regulation IRS Taxes Crypto advocacy group pushes back against proposed IRS rules on brokers

The Blockchain Association, a United States-based cryptocurrency advocacy group, has submitted a comment letter mainly in opposition to tax regulations proposed by the Internal Revenue Service (IRS).

13.11 / 13:51

Adoption regulation AML Financial Services Counter Terrorism Financing U.S. FSC to discuss illicit activity in crypto at upcoming hearing

The United States Financial Services Committee (FSC) has scheduled a Nov. 15 hearing for a deep dive into the illicit activities in the cryptocurrency ecosystem.

11.11 / 03:27

regulation Circle Congress Terrorism TRON FinCEN Ethics watchdog rats out Circle for links to Tron in letter to Sens. Warren, Brown

Nonprofit ethics group Campaign for Accountability (CfA) sent a letter to U.S. Senators Elizabeth Warren and Sherrod Brown on Nov. 9 to present them with information on the alleged use of cryptocurrency in money laundering. The letter discussed the Tron blockchain and stablecoin issuer Circle in particular.

10.11 / 10:29

Ethereum Ether price Ethereum Price Bitcoin BlackRock ETH ETF helps price past $2k; community sees BTC ETF as 'done deal'

The world’s largest asset manager filed for a spot Ether (ETH) exchange-traded fund (ETF) on Nov. 9, four months after filing for a spot Bitcoin ETF. BlackRock’s filing helped ETH prices soar past $2,000 for the first time in over a year.

10.11 / 04:39

business crimes Court bail SafeMoon CEO bail release goes on hold after Feds cite flight risk

United States federal prosecutors have managed to put SafeMoon CEO Braden John Karony’s bail release order on hold, citing flight risk and his release being a possible “danger to the community.

10.11 / 01:33

Law regulation Scams Fraud Cryptoqueen’s OneCoin legal chief pleads guilty to fraud

The former compliance chief of OneCoin — a 2015 crypto scheme that defrauded investors out of $4 billion — has pleaded guilty to wire fraud and money laundering charges in Manhattan federal court.

09.11 / 14:17

us government NVIDIA Baidu AMD China AI chip market finds expansion paths despite US export restrictions

The Chinese artificial intelligence (AI) chip market has been subject to ongoing export restrictions which imposed by the United States from October 2022, which prohibited the sale of certain U.S. products to China.

09.11 / 13:13

Blockchain Technology Law regulation Tether legislation U.S. lawmakers introduce CLARITY Act to limit federal ties with Chinese blockchain

U.S. Representatives Zach Nunn and Abigail Spanberger have jointly introduced the Creating Legal Accountability for Rogue Innovators and Technology (CLARITY) Act. The legislation aims to prohibit federal government officials from conducting business with Chinese blockchain companies.

09.11 / 12:06

Government Blockchain regulation us government Maine state treasurer to focus on handling abandoned cryptocurrency accounts

A report issued by the Office of the Maine State Treasurer highlighted the U.S. state’s interest in officially managing the abandoned and recovered crypto assets.

09.11 / 10:53

Cybersecurity Cyber Chinese president calls for unity on AI challenges and cyber development

Chinese President Xi Jinping addressed an audience on Nov. 8 at the World Internet Conference Summit in Wuzhen, China calling for international cooperation on risks posed by artificial intelligence (AI).

09.11 / 04:19

regulation SEC Congress legislation Rep. Tom Emmer proposes to defund SEC’s crusade against crypto

Pro-crypto Congressman Tom Emmer is advancing an amendment aimed at depriving the United States securities regulator from using government funds to go after crypto enforcement.

09.11 / 04:19

business Law Binance regulation SEC Court Binance used ‘tortured’ interpretation of law in bid to toss suit, says SEC

Binance’s arguments used in its motion to dismiss a lawsuit from the United States securities regulator relies on an incorrect legal analysis and have no basis in law, the regulator has argued.

08.11 / 15:13

regulation Taxes How To Returns How to manage crypto losses on tax returns in the US, UK and Canada

Cryptocurrency taxation is a subject of increasing importance, with governments worldwide working diligently to establish clear rules for taxing digital assets. In the United States, the United Kingdom, and Canada, crypto holders navigate complex regulatory landscapes, making it crucial to understand how crypto losses are taxed and their potential impact on tax liability. Whether new to crypto trading or with years of experience, reporting income and paying applicable taxes in compliance with local regulations is essential.

08.11 / 14:19

Government Blockchain Adoption us government Federal Reserve inflation Can blockchain solutions disrupt US inflation forecasting?

So much of the world’s economic steam depends on interest rates, which in turn are tied to inflation, i.e., the rate at which producer and consumer prices are rising.

08.11 / 06:17

business NFT Investments Funding Opensea stake OpenSea investor marks down stake in platform by 90%: Report

United States tech investment firm Coatue Management has marked down the value of its stake in non-fungible token (NFT) platform OpenSea by 90%.

07.11 / 23:45

Government Law regulation Analysis us government Opinion Confiscation Expect new IRS crypto surveillance to come with a surge in confiscation

As the Internal Revenue Service (IRS) pushes forward with its proposal to increase cryptocurrency surveillance, a past report might offer a clue for how this information may be used in practice. In short, with the IRS set to keep tabs on Americans’ cryptocurrency usage through an expected 8 billion new returns, it seems the Department of Justice (DOJ) may soon have the tools it wants to start confiscating cryptocurrency at an unprecedented rate.

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