United States Financial News

21.10 / 01:37

Technology Law Government crackdowns are coming unless crypto starts self-policing

Self-regulation will be critical in governing the rapidly changing landscape of the cryptocurrency industry in order to preserve its autonomous, decentralized nature.

20.10 / 17:07

Law Adoption Banks Crypto adoption: How FDIC insurance could bring Bitcoin to the masses

Over the years, several cryptocurrency companies have claimed that deposits with them were insured by the United States Federal Reserve and the Federal Deposit Insurance Corporation (FDIC) as if they were regular savings accounts. While so far, no crypto firm has been able to offer depositors this type of insurance, some speculate it could be the key to mass adoption.

20.10 / 07:17

Law CFTC bills 'Secretly circulating' draft crypto bill could be a ‘boon’ to DeFi

A new draft of the Digital Commodities Consumer Protection Act (DCCPA) bill has started to circulate online, with some commentary suggesting it could be positive for decentralized finance (DeFi) and crypto.

20.10 / 03:05

Ethereum Before ETH drops further, set some money aside for surprise taxes

Ethereum’s Merge dominated the crypto world in September with promises of quicker transaction times, improved security and a 99% reduction in energy consumption. However, will you end up with a surprise tax bill too? Let’s examine.

19.10 / 11:59

regulation IRS Taxes IRS introduces broader ‘Digital Assets’ category ahead of 2022 tax year

American taxpayers will find a broader, more defined category encompassing cryptocurrencies and nonfungible tokens (NFTs) in their 2022 IRS tax forms. The draft bill released by the Internal Revenue Service features a well-defined Digital Assets section that outlines if and how taxpayers will account for the use of cryptocurrencies, stablecoins and NFTs.

19.10 / 09:41

Law regulation Court Prosecutors argue 'insider trading' claim in the OpenSea case is accurate

United States prosecutors have opposed a motion by a former employee of nonfungible token (NFT) marketplace OpenSea to remove “insider trading” references from his charges.

18.10 / 12:31

regulation Europe European Union lawmakers EU Commissioner urges lawmakers to hurry up with crypto regulations

While the European Union proceeds with smoothly passing its landmark crypto framework, the Markets in Crypto-Assets (MiCA), through the legislation phases, its financial services chief urges the American counterparts to keep in step to ensure the forthcoming regulations will be global, not local.

17.10 / 14:53

Adoption Investments Q3 Top crypto Germany leaves the US behind in top crypto economies in Q3: Report

Germany has become the most favorable crypto economy in the world in the third quarter of 2022, according to a new report. The United States, the joint top-rank holder from last quarter, fell six places to rank seventh on the top crypto economy.

16.10 / 21:47

Government Law stake KYC to stake your ETH? It's probably coming to the US

Over the last few years, the cryptocurrency industry has been a primary target for regulators in the United States.

15.10 / 22:04

Government Law Time It’s time for the feds to define digital commodities

This month, the European Union (EU) agreed on the text for a unified licensing regime for cryptocurrency exchanges to operate across the EU bloc as part of its Markets in Crypto Assets Regulation (MiCA). The United States — despite being a traditional global leader in legal frameworks for technological innovation — has not provided that same regulatory clarity.

14.10 / 22:51

Government SEC The SEC should be aiming at Do Kwon — But it’s getting distracted by Kim Kardashian

In less than a week, Terraform Labs founder Do Kwon’s passport will expire. Interpol issued a red notice for Kwon last month, and this month, his assets were reportedly frozen by the South Korean government.

13.10 / 17:43

business education Charity NFTs and crypto provide fundraising options for breast cancer awareness

The hype around nonfungible tokens (NFTs) may be fading, yet a number of organizations continue to implement Web3 initiatives. Nonprofit organizations and activists, in particular, have begun implementing nonfungible token projects to help fundraise and generate awareness for certain causes.

06.10 / 01:11

regulation Department Of Justice Congress lawmakers US lawmakers US lawmakers request Justice Dept share CBDC assessment

Republican members of the House Financial Services Committee have requested the Department of Justice provide its assessment and legislative proposals around a digital dollar within ten days.

05.10 / 23:35

regulation Bitcoin South Carolina treasurer goes on Bitcoin 'fact-finding trip' to El Salvador

Curtis Loftis, the treasurer for the U.S. state of South Carolina, spent five days in El Salvador as part of an “exploratory trip” on cryptocurrencies.

05.10 / 06:37

Law Ethereum SEC Federal regulators are preparing to pass judgment on Ethereum

Are regulators with the U.S. Securities and Exchange Commission gearing up to take down Ethereum? Given the saber-rattling by officials — including SEC Chairman Gary Gensler — it certainly seems possible.

05.10 / 01:15

regulation Donations Elections Agency US election DataVault requests US election agency's advice to send NFTs as a campaign fundraising incentive

The legal team behind nonfungible token firm DataVault Holdings has requested an advisory opinion from the United States Federal Election Commission on using NFTs for fundraising efforts.

04.10 / 22:25

Law CFTC regulation CFTC can issue summons through Ooki DAO's help chat box, says judge

The United States Commodities Futures Trading Commission can serve members of the Ooki decentralized autonomous organization, or DAO, with summons through online communications, according to a federal judge.

04.10 / 06:05

Government Blockchain Stablecoin Tether Tether commercial paper exposure now under $50M, says CTO

Stablecoin issuer Tether (USDT) has nearly completely slashed its commercial paper holdings, with less than $50 million worth of commercial paper units as of Sept. 30, 2022.

04.10 / 05:47

Twitter SEC security Fine How Crypto Twitter reacted to Kim Kardashian’s $1.26M SEC fine

The crypto community reacted with a mix of disbelief and amusement after reality star Kim Kardashian was fined for promoting the cryptocurrency EthereumMax (EMAX).

04.10 / 02:45

Law SEC Influencer The SEC is bullying Kim Kardashian, and it could chill the influencer economy

The Securities and Exchange Commission announced on Oct. 3 that Kim Kardashian settled an allegation that she promoted “a crypto asset security offered and sold by EthereumMax without disclosing the payment [of $250,000] she received for the promotion.” While she cooperated and closed the case with $1.26 million in penalties, the charge highlights the liability that “influencers” increasingly face as a result of an activist SEC that has failed to establish regulatory clarity.

04.10 / 00:21

Government CFTC SEC lawmakers US Treasury recommends lawmakers decide which regulators will oversee crypto spot market

Officials with the United States Financial Stability Oversight Council, or FSOC, have recommended U.S. lawmakers pass legislation to determine which “rulemaking authority” will be responsible for regulating parts of the crypto spot market.

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