Government Financial News

03.01 / 23:01

business Government Adoption Binance Tribulations and triumphs: The biggest surprises in crypto of 2022

2022 saw the fall of many linchpin crypto and blockchain firms as the May market drawdown shook the industry. It caused many cryptocurrencies to lose value and many investors to pull their money from the market. Furthermore, the unprecedented knock-on effects of the meltdown exposed many blockchain and cryptocurrency firms that were ill-prepared for turbulent times.

03.01 / 22:11

Government Law Adoption Central Bank The ‘godfather of crypto’ wants to create a privacy-focused CBDC: Here’s how

When it comes to the “crypto” part of cryptocurrencies, David Chaum’s work predates the crypto ecosystem. His efforts as a renowned cryptographer date back to 1989, long before Bitcoin (BTC) was a thing.

02.01 / 15:41

Government Blockchain Adoption identity services Türkiye to use blockchain-based digital identity for online public services

Türkiye, formerly known as Turkey, plans to use blockchain technology for online public services logins. e-Devlet, Türkiye’s digital government portal used to access a wide range of public services, will use a blockchain-based digital identity to verify Turkish citizens during login.

29.12 / 13:03

Government regulation Bitcoin Fiji elects pro-Bitcoin prime minister Sitiveni Rabuka

A newly elected pro-Bitcoin Prime Minister has taken office in the Pacific Islands of Fiji. The new leader, Sitiveni Rabuka, took the Fijian office on Dec. 24.

29.12 / 03:57

Government Blockchain economics What to expect from crypto the year after FTX

Cryptocurrency had its Lehman moment with FTX — or, perhaps, another Lehman moment. The macroeconomic downturn has not spared crypto, and as November rolled around, nobody knew that we were in for the collapse of an empire worth billions of dollars.

28.12 / 18:15

business Government Scams us government Department Scammers impersonate US State Department, claiming to help affected FTX users

As the FTX collapse left many users yearning for the return of lost funds, scammers are using the opportunity to take advantage of the already injured victims, posing as government officials.

20.12 / 00:55

Government Law Congress regulatory Crypto’s regulatory fate will be decided in the year ahead

It would be ideal for the industry for Congress to weigh in on its fate rather than leaving it to unelected regulators at the Securities and Exchange Commission (SEC). To that end, representatives from both sides of the aisle have introduced bills designed to offer “regulatory clarity.” The moderate position seems to favor placing crypto mostly under the jurisdiction of the Commodity Futures Trading Commission (CFTC).

17.12 / 02:35

business Government Law IRS The outcome of SBF's prosecution could determine how the IRS treats your FTX losses

FTX founder Sam Bankman-Fried has received official criminal charges after the collapse of his cryptocurrency exchange, which is more than just a moral victory for the exchange’s roughly 1 million individual investors. While not locked in yet, things appear to be on track for these investors to take a more favorable tax position as SBF’s fate continues to unravel.

16.12 / 09:07

Government regulation Taxes Japan set to ease 30% crypto tax on paper profits for token issuers

The Japanese government is set to ease tax requirements for local crypto firms, as it pushes to stimulate growth in the domestic finance and tech sectors.

16.12 / 09:07

Government Blockchain Bitcoin services committee Financial New House Financial Services Committee chair wants to delay crypto tax changes

The incoming United States House Financial Services Committee chair Patrick McHenry wants the Treasury to delay the implementation of a section of the Infrastructure Investment and Jobs Act that deals with digital assets and tax collection.

14.12 / 23:11

Government Law Gaming Prison Anonymous crypto developers belong in prison — and will be there soon

In the months following the announcement of my company’s first experimental title, Cyberstella, visits to my personal LinkedIn profile increased by an astonishing 300%. What does this tell us about the rising trend of anonymous developers popping up in every Web3 community to spam users with investment opportunities and then disappear from the face of the Earth?

14.12 / 09:07

Government Stablecoin regulation consultation Australian Australian 'token mapping' consultation paper to release in early 2023: Treasurer

Australian Treasurer Jim Chalmers has revealed that the government will release a consultation paper in early 2023 as part of its token mapping initiative.

14.12 / 02:37

Government Blockchain Technology Investments Support Algorand to support bank and insurance guarantees platform in Italy

Layer-1 blockchain platform Algorand has been chosen as the public blockchain to support an “innovative digital guarantees platform” to be used in Italy's banking and insurance markets.

13.12 / 07:11

business Government Twitter Fried Sam Crypto Twitter explodes over the news of Sam Bankman-Fried's arrest

Crypto Twitter has blown up over the shocking news of Sam Bankman-Fried’s arrest in The Bahamas — many of whom weren’t expecting it to happen so soon.

13.12 / 01:53

Government Stablecoin Adoption 2024 Brazil could cement its status as an economic leader thanks to 2024 CBDC move

As of 2022, more than 30 million Brazillian citizens have no bank accounts, and no credit or debit cards. What’s wrong here?

13.12 / 01:31

business Government Blockchain Investments Political Donations $75M worth of FTX’s political donations at risk of being recalled due to bankruptcy: Report

Following the collapse of FTX and its Nov. 11 bankruptcy filing, $73 million worth of its political donations is currently at risk of being recalled to repay the failed exchange’s creditors, according to a report by Bloomberg.

12.12 / 21:35

business Government Blockchain Bitcoin Bitcoin could reach $1M in 5 years due to fiat currencies’ collapse, says Samson Mow

Despite the ongoing bear market, Jan3 CEO and Bitcoin (BTC) proponent Samson Mow believes that the leading cryptocurrency could reach the $1-million-price benchmark in the next five to 10 years. The collapse of major fiat currencies will be a major catalyst, which he said can “happen very rapidly” and “are not anticipated.”

12.12 / 08:05

Government regulation us government Senate US senator: There's 'no reason why' crypto should exist

Another crypto-skeptic United States senator is on the loose, with Democrat Jon Tester boldly stating that he sees “no reason why” crypto should exist.

10.12 / 17:49

Government Adoption SEC Gensler’s approach toward crypto appears skewed as criticisms mount

Since taking over at the United States Securities and Exchange Commission (SEC), chairman Gary Gensler has repeatedly been referred to as the “bad cop” of the digital asset industry. To this point, over the past 18 months, Gensler has taken an extremely hard-nosed approach toward the crypto market, handing out numerous fines and enforcing stringent policies to make industry players comply with regulations.

09.12 / 13:11

business Government FTX reportedly gets 3 more months to stop all operations in Japan

The Japanese subsidiary of the now-defunct cryptocurrency exchange FTX has received approval from local regulators to continue sorting out issues with withdrawals until next year.

08.12 / 21:09

Government Technology Waves Stablecoin Backed Warning Waves-backed stablecoin USDN drops further after regulator warning and exchange delisting

Algorithmic stablecoins have had a rough year, starting with UST de-pegging to zero and the subsequent blow-up of Terra’s LUNA token which was used for the asset’s backing. Algorithmic stablecoins are not fully collateralized and rely on different mechanisms to maintain the peg, making them inherently fragile to market conditions.

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