Government Financial News

01.11 / 21:49

business Government Blockchain Adoption City of Liverpool takes interest in blockchain-powered food delivery platform

On Monday, Metro Mayor of the Liverpool City Region Steve Rotheram announced a 700,000 pound ($955,957 USD) investment into blockchain-powered food delivery service Peepl. The software aims to act as a cost-efficient alternative to food delivery giants for local restaurants.

01.11 / 20:17

Government Law Stablecoin SEC regulatory Law Decoded: Sketching the boundaries of regulatory mandates, Oct. 25 – Nov. 1

The Securities and Exchange Commission could be emerging victorious in the race to secure the leading role in regulating stablecoins. Additional clarity on the demarcation of regulatory mandates between the SEC, Commodity Futures Trading Commission and the Treasury Department could come from the President’s Working Group for Financial Markets’ (PWG) report that was expected by the end of October but failed to arrive before the end of last week.

30.10 / 19:21

Government IRS Bitcoin The major tax myths about cryptocurrency debunked

Crypto and taxes may not be a match made in heaven, but taxes seem inevitable, and the United States Internal Revenue Service (IRS) has made it clear it is going after people who don’t report. With IRS summonses to Coinbase, Kraken, Circle and Poloniex, plus other enforcement efforts, the IRS is on the hunt. The IRS sent 10,000 letters in different versions asking for compliance, but all were nudges to encourage taxpayers to be compliant.

30.10 / 00:15

business Government Blockchain Mark Warner CFPB US Senator Hagerty to CFPB Director: Don’t Stifle Crypto Innovation

U.S. Senator Bill Hagerty (R-VA), who was elected in 2020 to represent Tennessee after a stint as Ambassador to Japan, spoke to newly appointed Consumer Financial Protection Bureau Director Rohit Chopra regarding cryptocurrencies in a banking committee hearing, saying “I just want to make certain as you exercise those oversight responsibilities that we don't stifle innovation in this arena.”

29.10 / 12:21

Government ETF Bitcoin ETPs guidelines Australian Australian securities regulator issues guidelines for crypto ETPs

The Australia Securities and Investments Commission (ASIC) has issued its response to public consultation on cryptocurrency exchange-traded products (ETPs) alongside fresh industry guidance.

29.10 / 10:47

business Government Bitcoin Russian crypto market worth $500B despite bad regulation, says exec

The Russian cryptocurrency market has grown to hundreds of billions of dollars despite the absence of sufficient cryptocurrency regulation, according to a major industry executive.

29.10 / 01:20

business Government Blockchain Adoption Central Bank of Sri Lanka completes proof-of-concept KYC platform

A report presented to Sri Lankan central bank governor Ajith Nivard Cabraal on Monday detailed the results of a now-completed Know-Your-Customer, or KYC, proof-of-concept project.

27.10 / 20:03

Government CFTC regulation Agency Biden's pick for CFTC chair wants the agency to be a 'beat cop' with the authority to oversee 60% of digital asset market

Acting chairperson of the Commodity Futures Trading Commission, or CFTC, Rostin Behnam has likened the government agency’s enforcement of the digital asset space to a beat cop on duty.

27.10 / 16:13

Facebook Libra Government Privacy or policy? Why Facebook's crypto wallet Novi is facing resistance

The stablecoin market has grown exponentially over the last few months due to the numerous advantages blockchain-based versions of fiat currencies have. But, when Facebook launched its cryptocurrency wallet Novi using Paxos’ stablecoin, some United States senators were quick to oppose it. Are they concerned about user data or monetary sovereignty?

27.10 / 16:13

Government Blockchain Technology Law Putting a cap on decentralization: How regulation impacts DeFi adoption

Decentralized finance (DeFi) is shaping up to be one of the most important sectors within the blockchain industry. In just the last two years, DeFi's total value locked (TVL) — the total value of assets locked into various DeFi platforms — has steadily increased from $21 billion at the start of the year to over $100 billion today.

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