Law Financial News

03.02 / 17:25

Law Court Tezos PoS validator turns down IRS tax refund offer, pushes for clear policy on staking taxation

A United States couple suing the federal tax agency over Tezos (XTZ) staking rewards taxation chose to forego a tactical victory and engage in a court battle that could eventually result in policy change.

01.02 / 01:19

Government Law Law Decoded: Russia flounders, America competes, IMF keeps fuming, Jan. 24–31

One of the most fascinating implications of the collision between traditional political institutions and the crypto space is how it can reveal the glaring lack of cohesion within power systems that otherwise look monolithic. Digital assets reside in a parallel policy dimension where neither a centralized consensus nor a clear rulebook exists, leading to a surprising variety of voices and opinions emerging in the absence of a politically coordinated course. Last week, a rare lively policy debate broke out in Russia in the aftermath of its central bank’s attempt to promote a hardline stance on crypto. One does not often see such a public interagency disagreement on substantive issues.

31.01 / 21:33

Law us government data Averted a year ago, controversial transaction monitoring rule is back on Treasury’s radar

As the Department of the Treasury has announced its regulatory agenda for the fiscal year earlier today, many in the web3 space have likely experienced flashbacks to December 2020, when the agency had first proposed to impose know your customer, or KYC, rules on transactions that involve self-custodied crypto wallets.

31.01 / 15:55

Blockchain Law regulation Blockchain is just a database without crypto, legal expert says

Blockchain can’t be separated from crypto in a progressive manner because extracting blockchain from crypto diminishes the former to a glorified database, leaving all the exciting opportunities out, Turkish law expert Elçin Karatay told Cointelegraph.

28.01 / 23:41

Law Congress bills Disaster U.S. Congressman wants to scrub bill provision that crypto advocates say is a potential disaster

North Carolina Representative Ted Budd submitted an amendment to the omnibus America COMPETES Act of 2022, specifically targeting the provision that would allow the Treasury Department to impose “special measures,” including surveillance and outright prohibitions, against “certain transmittals of funds.”

28.01 / 17:39

business Law Adoption Staying cool: Is crypto snowballing to 1 billion users this year?

Crypto.com raised a few eyebrows this past week when it announced cryptocurrency users worldwide could reach 1 billion by the end of 2022.

28.01 / 01:17

Law regulation Congress Broker House members urge US Treasury Secretary to clarify definition of broker in infrastructure law

A bipartisan group of members from the U.S. House of Representatives called on Treasury Secretary Janet Yellen to clarify the language in the infrastructure bill signed into law in November around the definition of "broker."

27.01 / 17:27

Government Law Ban Central bank overkill: Russia’s proposed crypto ban and why everyone’s against it

On Jan. 20, the Central Bank of Russia (CBR) issued a report summarizing its position on digital assets and proposing a ban on any crypto trading and mining operations in the country. Although the CBR’s strict position on the matter was never a secret, such a bold statement triggered waves of fear, uncertainty, and doubt — otherwise known as FUD — across the board, given Russians’ high rates of involvement in the global digital assets market.

27.01 / 15:31

Government Law Ban Framework regulatory Russian Finance Ministry submits crypto regulatory framework for review

In a new twist of the Russian crypto regulation saga, the country’s Ministry of Finance has come forward with an initiative that stands in stark contrast with the central bank’s hardline position.

26.01 / 21:41

Law film NOT Pope Francis urges parents not to condemn gay children

Pope Francis urged parents on Wednesday not to condemn their children if they are gay in his latest gesture of outreach to the LGBT community, long been marginalised by the Catholic hierarchy.

26.01 / 21:27

Government Law privacy Crypto Policy Crypto policy advocacy group warns of 'disastrous' provision in a new US bill

Jerry Brito, the executive director of non-profit crypto policy advocate group Coin Center, suggested U.S. residents call their elected officials over possible privacy and due process concerns in a new bill proposed by House leaders.

26.01 / 01:41

Law regulation Bitcoin IMF urges El Salvador to remove Bitcoin's status as legal tender

Members of the executive board at the International Monetary Fund are urging lawmakers in El Salvador to no longer recognize Bitcoin as legal tender.

24.01 / 21:19

Law Ban Law Decoded: When central banks seek public discussion, Jan. 17–24

Last week, two central banks dropped public reports that can have a sizable impact on the crypto landscape in their respective countries and beyond. The U.S. Federal Reserve published a discussion paper entitled “Money and Payments: The U.S. Dollar in the Age of Digital Transformation,” which summarizes years of the Fed’s research on CBDCs. Meanwhile, the Central Bank of Russia released a report that called for a blanket ban on domestic cryptocurrency operations and mining. Both documents are framed as an invitation for public discussion, but the kinds of discussions that they will trigger are likely to be very different.

23.01 / 22:43

Law Vibe killers: Here are the countries that moved to outlaw crypto in the past year

Last week, Pakistan’s Sindh High Court held a hearing on the legal status of digital currencies that might lead an outright ban of cryptocurrency trading combined with penalties against crypto exchanges. Several days later, the Central Bank of Russia called for a ban on both crypto trading and mining operations. Both countries could join the growing ranks of nations that moved to outlaw digital assets, which already include China, Turkey, Iran and several other jurisdictions.

21.01 / 19:13

Law us government Congress lawmakers hearing Crypto Policy Lawmakers explore Bitcoin mining efficiency, broader crypto policy issues during Congress hearing

On Jan. 20, the Oversight and Investigations subcommittee of the U.S. Congress House Energy and Commerce Committee convened a hearing to investigate the environmental effects of cryptocurrency mining. Despite the narrow focus, the conversation that ensued – which many industry experts appraised as a meaningful educational experience for the lawmakers – touched upon a range of blockchain-related issues and themes beyond energy consumption. Here is how it went down, and what comes next.

21.01 / 04:07

business Law Sport Food Jack in the Box ends suit against FTX for allegedly stealing its mascot

Jack in the Box’s lawsuit against FTX US over an alleged mascot-related copyright and trademark infringement has come to an end after the parties reached a settlement.

21.01 / 00:17

business Law Binance Former Binance US CEO Catherine Coley is still missing, and no one seems to be talking

Around the time Binance.US announced former Comptroller of the Currency Brian Brooks would be leading the crypto exchange, former CEO Catherine Coley effectively dropped off the face of the digital world.

20.01 / 18:02

Government Law Central Bank Russian central bank proposes blanket ban on crypto mining and trading

In a report published on Thursday, The Central Bank of Russia has called for a blanket ban on domestic cryptocurrency trading and mining.

19.01 / 20:55

Government Law SEC Agency committee open SEC Advisory Committee member calls agency to open for public comment on crypto regulation

Associate law professor and member of the Securities and Exchange Commission’s Investor Advisory Committee J.W. Verret is calling for the government agency to open for public comment in regards to digital asset regulation.

19.01 / 04:11

Law Energy Congress hearing Former pro-crypto CoC Brian Brooks to testify in a House hearing on the energy impacts of mining

As U.S. Congress is preparing to take a thorough look at the energy use of crypto mining, the list of witnesses for the Thursday hearing contains more proponents of blockchain technology than its outright critics.

18.01 / 22:38

Law Congress Early birds: U.S. legislators invested in crypto and their digital asset politics

According to some estimates, as many as 20% of Americans were invested in cryptocurrencies as of August 2021. While the exact number can vary significantly from one poll to another, it is clear that cryptocurrencies are no longer just a niche passion project for tech enthusiasts or a tool for financial speculation. Rather, digital assets have become a widespread investment vehicle with the prospect of becoming mainstream.

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