Government Financial News

10.06 / 21:27

business Government Blockchain regulation CZ visits Palau to kick off BNB Chain-supported ID NFTs for digital residency program

The Republic of Palau announced Friday that it will issue identification cards to its digital residents in the form of nonfungible tokens (NFTs) on Binance’s BNB Chain blockchain. Binance founder and CEO Changpeng Zhao (CZ) was on hand in the Pacific Island nation for the unveiling of the NFTs and to meet with Palauan President Surangel S. Whipps, Jr.

08.06 / 16:57

business Government Blockchain US central bank digital currency commenters divided on benefits, unified in confusion

In January, the United States Federal Reserve Board of Governors released a discussion paper on a potential U.S. central bank digital currency (CBDC) titled “Money and Payments: The U.S. Dollar in the Age of Digital Transformation.” The comment period for the paper ended May 20, with the Fed receiving over 2,000 pages of comments from individuals alongside responses from leading stakeholders.

08.06 / 04:41

Government Blockchain proof-of-work New York Governor yet to commit to signing Bitcoin mining ban into law

New York overnor Kathy Hochul is yet to publicly commit to signing the controversial Proof-of-Work (PoW) crypto mining ban bill, instead noting that her team will be looking “very closely” at the proposal over the next few months.

06.06 / 07:07

Government Adoption regulation Bermuda confirms crypto hub ambitions despite market downturn

The Bermuda government is pushing on with its ambitious plans to become a cryptocurrency hub despite the massive market downturn in 2022.

06.06 / 00:05

Government Blockchain Bitcoin Investigations A life after crime: What happens to crypto seized in criminal investigations?

Earlier this year, during during the annual Queen’s Speech in the United Kingdom, Prince Charles informed the Parliament about two bills. One of them — the Economic Crime and Corporate Transparency Bill — would expand the government's powers to seize and recover crypto assets.

31.05 / 09:35

Government Stablecoin Tether Asia China state media signals tighter crypto regulations in Terra aftermath

The China state-owned media outlet the Economic Daily has signaled that the Chinese government may introduce even tighter regulations on cryptocurrencies and stablecoins due to the collapse of the Terra ecosystem.

30.05 / 16:57

Government regulation Bitcoin Here's how much Kazakh gov't made off crypto mining in Q1 2022

The government of Kazakhstan, one of the world’s largest countries by the Bitcoin (BTC) mining hash rate distribution, has reported budget earnings derived from cryptocurrency mining.

30.05 / 14:33

business Government Court Terra Usd South Korean authorities reportedly probe staff behind Terra

The South Korean government continues to investigate Terraform Labs, the firm behind the Terra Network as well as Luna (LUNC) and Terra USD (UST) tokens, by reportedly summoning subpoenas to employees.

27.05 / 18:03

Government Stablecoin Adoption Bitcoin Future How Terra’s collapse will impact future stablecoin regulations

The collapse of the Terra ecosystem, which subsequently depegged its algorithmic stablecoin TerraUSD (UST) value and crashed it to an all-time low of $0.30, has cast doubt over the future of not just algorithmic stablecoins but all stablecoins in general.

26.05 / 12:17

Government Taxes Bitcoin Portugal's Assembleia da Republica says no to two crypto tax bills

The Portuguese congress, Assembleia da Republica, has rejected two bills that would have imposed a tax on cryptocurrencies.

26.05 / 00:05

Government Ethereum Bitcoin Brazil's Federal Revenue now requires citizens to pay taxes on like-kind crypto trades

Brazil's Federal Reserve (RFB) has declared that Brazilian investors in the crypto-asset market must pay income tax on transactions that involve the like-kind exchange of cryptocurrencies; for example, Bitcoin (BTC) for Ethereum (ETH).

25.05 / 16:45

business Government Blockchain Stablecoin Ideas vs. practice: How are regulators working together on crypto?

The regulation of cryptocurrencies across the world is a constant battle for investors in a rapidly expanding and constantly changing ecosystem.

24.05 / 17:57

Government Stablecoin Bitcoin regulatory Enforcement and adoption: What do UK’s recent regulatory aims for crypto mean?

In April, the United Kingdom’s Economic and Finance Ministry, also known as Her Majesty’s Treasury, announced its intention to put the United Kingdom at the forefront of technology by bringing stablecoins under the country’s payments regulation — a bold move that looks especially intriguing in contrast to the recent shock, caused by TerraUSD’s (UST) depegging.

20.05 / 00:09

Government Stablecoin Federal Reserve vice chair Biden's pick for Fed vice chair for supervision calls for congressional action on stablecoins

Michael Barr, a law professor and former advisory board member of Ripple Labs who is United States President Joe Biden’s pick for vice chair for supervision at the Federal Reserve, called for U.S. lawmakers to regulate stablecoins in an effort to address “financial stability risks.”

19.05 / 19:07

Government Blockchain Bitcoin Indian NOT Indian government's ‘blockchain not crypto’ stance highlights lack of understanding

Indian crypto businesses are struggling with the new tax policies as trading volumes have dried up and many established crypto firms are looking to relocate to more crypto-friendly jurisdictions.

19.05 / 01:01

Government regulation SEC Sec Chair SEC chair uses crypto enforcement in justification for FY2023 budget

Gary Gensler, chair of the United States Securities and Exchange Commission, or SEC, has cited concerns about cryptocurrency enforcement in its budget request for the next fiscal year.

17.05 / 20:11

Government regulation Financial Global financial regulators will discuss crypto at G7: Report

Central bank governors and finance ministers from the Group of Seven, or G7, are reportedly planning to discuss the regulation of cryptocurrencies.

16.05 / 16:27

Government Blockchain Stablecoin Adoption CBDC activity heats up, but few projects move beyond pilot stage

Government-issued electronic currency seems to be an idea whose time has come.

16.05 / 09:47

Government regulation Taxes Australian Crypto capital gains one of four key areas for Australian Tax Office

The Australian Taxation Office (ATO) has outlined crypto capital gains as one of four key areas of focus in 2022.

15.05 / 16:05

Government Blockchain Technology Adoption mars Welcome to Mars: I own everything, have total privacy and life has never been better

This is a parody of the article published by the World Economic Forum titled “Welcome to 2030. I Own Nothing, Have No Privacy And Life Has Never Been Better.”

15.05 / 12:45

Government Stablecoin Tether Dollar $1.9T wipeout in crypto risks spilling over to stocks, bonds — stablecoin Tether in focus

The cryptocurrency market has lost $1.9 trillion six months after it soared to a record high. Interestingly, these losses are bigger than those witnessed during the 2007's subprime mortgage market crisis — around $1.3 trillion, which has prompted fears that creaking crypto market risk will spill over across traditional markets, hurting stocks and bonds alike.

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