Law Financial News

29.03 / 16:17

business Law Bitcoin Crypto donation startup launches IRS form as US tax season loom

Engiven, an enterprise cryptocurrency donation platform, is working to simplify tax reporting for cryptocurrency donors and nonprofits by launching a tax form and appraisal service for crypto donations.

29.03 / 04:21

Law Law Decoded: Crypto taxes and taxes on crypto, March 21–28.

It was relatively quiet in the digital asset policy department last week, as regulators and lawmakers in most key jurisdictions retreated to their offices to do the necessary homework. In the U.S., federal agencies got on with the various reports that President Joe Biden’s recent executive orders directed them to produce. Over in the United Kingdom, both the central bank and the Financial Conduct Authority also dropped position papers on crypto-related issues. After thorough deliberation, Thailand’s financial authorities spoke out against using crypto as a means of payment, while rumors of potential legal tender adoption of crypto emerged and died in Honduras.

28.03 / 22:21

Blockchain Technology Law Adoption Blockchain Adoption From taxes to electricity, blockchain adoption is growing in Austria

Austria has been actively transforming into an attractive location for providers of blockchain-based products, with the government itself experimenting with the technology and trying to create a legal basis upon which companies can use it.

28.03 / 16:05

Government Law Adoption US e-cash: Bill proposes digital currency that replicates cash, bypasses the Fed

The Electronic Currency and Secure Hardware Act (ECASH Act), introduced today in the United States House of Representatives, could herald a new direction in government-sponsored digital currencies.

28.03 / 14:27

Law Europe European Union AML EU Parliament can outlaw transacting with 'unhosted' wallets, crypto advocate warns

Less than a week after a potential ban on Proof-of-Work (PoW) digital assets was dropped from the EU’s prospective MiCA framework, a new threat to the crypto industry could be emerging in the European Union. This time, it is non-custodial, or unhosted, wallets that are in regulators’ crosshairs.

25.03 / 17:01

Law Congress Senate crypto legislation Senators US senators Lummis, Gillibrand reveal working on bipartisan crypto legislation

United States Senator from New York Kirsten Gillibrand revealed working with Senator Cynthia Lummis on a broad-based regulatory framework for the crypto industry on Thursday during a live event in Washington, D.C.

25.03 / 17:01

Blockchain Law Europe POW European Commission Framework regulatory European crypto regulatory framework goes to three-way consideration without PoW ban

The much-dreaded prospect of a ban on cryptocurrencies that use proof-of-work (PoW) consensus is making its way into a key European digital asset directive appears to have blown over.

23.03 / 20:47

Government Law Taxes Proposal for crypto tax policy in India will go to parliament on March 24

A tax proposal on crypto from India’s Finance Minister Nirmala Sitharaman may be closer to becoming law as the country’s lower house of parliament is scheduled to consider the legislation on Thursday.

22.03 / 22:01

Law regulation Taxes OECD Framework OECD opens proposal on tax transparency framework for crypto to public comment

The Organisation for Economic Cooperation and Development, or OECD, has suggested additional requirements on reporting crypto transactions and identifying users aimed at increasing transparency for global tax authorities.

21.03 / 09:21

Government Law Conference week SBF opens Aussie Blockchain Week as govt says we’re “open for business”

FTX CEO Sam Bankman-Fried gave the opening keynote at this year's Blockchain Week, with the events of day one held at the headquarters of the Australian Securities Exchange (ASX).

19.03 / 16:25

Law Adoption Investments Old but gold: Can digital assets become part of Americans’ retirement plans?

On March 11, the United States Department of Labor warned employers that sponsor 401(k) retirement plans to “exercise extreme care” when dealing with cryptocurrencies and other digital assets, even threatening to pay extra legal attention to retirement plans with significant crypto investments.

18.03 / 18:09

business Law Environment Bitcoin Stranded Stranded no more? Bitcoin miners could help solve Big Oil's gas problem

The energy usage and environmental impact of Bitcoin (BTC) mining have been frowned upon and been under the scanner by various international financial institutions. The International Monetary Fund (IMF) mentions how Bitcoin mining consumes “vast amounts of computing power and electricity.”

18.03 / 00:47

Government Law lawmakers US lawmakers US lawmakers introduce bills that could force crypto exchanges to cut ties with Russian wallets

Representative Brad Sherman will be introducing a bill in the House aimed at cracking down on U.S. businesses handling crypto transactions for Russian banks and individuals.

17.03 / 23:05

Government Law Cybersecurity lawmakers National US lawmakers US lawmakers discuss crypto’s role in sanctions, national security, and humanitarian aid

Industry experts and lawmakers who spoke at a hearing of the United States Senate Committee on Banking, Housing, and Urban Affairs clashed on how the country should handle digital assets used for illicit purposes.

17.03 / 19:33

Law New Hampshire hopes its express approval of crypto-friendly law will attract new business

The New Hampshire House of Representatives passed a bill on Tuesday to adopt the new version of Chapter 12 of the Universal Commercial Code, or UCC, which will govern transfers of digital assets. The chapter is still in draft form, but if HB1503 is signed into law, New Hampshire will be the first U.S. state to adopt the chapter.

17.03 / 18:17

Law coinbase Court class action Class action suit against Coinbase alleges unregulated securities sales

Three individuals who bought cryptocurrency through Coinbase filed a proposed class action March 11 in the Southern District Court of New York alleging that Coinbase is operating as an unregistered securities exchange. The lawsuit lists 79 tokens that it claims are securities Coinbase is selling in violation of state and federal law, and the buyers were not warned of the risks involved in their purchases.

17.03 / 14:19

Law Middle east Dubai It’s official: Binance secures a license to operate in Dubai

Cryptocurrency exchange Binance announced on Wednesday that it had been granted a license to operate in Dubai, United Arab Emirates. The company’s presence in the Middle East has been building up lately, with a crypto service provider license in another Gulf market, Bahrain, coming in earlier this week.

16.03 / 19:33

Government Law regulation Framework regulatory Ukraine's president signs law establishing regulatory framework for crypto

Volodymyr Zelenskyy, the President of Ukraine currently based in Kyiv, has signed a law establishing a legal framework for the country to operate a regulated crypto market.

15.03 / 17:59

Government Law regulation Over 100 illegal mining farms were shut down in enforcement raids in Kazakhstan

The Financial Monitoring Agency of the Republic of Kazakhstan reported earlier today that 55 illegal mining farms “voluntarily stopped their operation” due to an enforcement campaign by the regulator, and another 51 entities’ operations “were terminated.” The enforcement operation targeted illegal mining operations that compromised the nation’s energy network. The Agency called for developing a clear regulatory approach to crypto mining in its release.

14.03 / 20:55

Law Europe European Union POW European Commission European Parliament votes against PoW ban, providing huge relief to the crypto industry

Earlier today, members of the European Parliament’s Committee on Economic and Monetary Affairs in the European Parliament voted against a version of the Markets in Crypto Assets, or MiCA, bill that could have effectively banned the proof-of-work-based cryptocurrencies within the EU. This comes as a huge relief for the crypto industry, whose representatives had previously warned about the threat of a hardline regulatory scenario.

11.03 / 21:33

markets Law privacy Monero Haven Protocol (XHV) shows strong signs of bottoming out after crashing 90%

Haven Protocol (XHV) showed signs of returning to its bullish form as its price doubled in just five days of trading.

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