Law Financial News

16.12 / 23:26

Law Adoption Bitcoin Russia to decide between blanket crypto ban and legalizing exchanges in 2022

On Thursday, conflicting reports emerged in Russia on the state of crypto regulatory affairs. First, a report by Reuters indicated that the Central Bank of Russia is seeking a ban on cryptocurrencies, citing risks to financial stability and the exploding volume of transactions.

16.12 / 13:19

Law Asia Court Bitcoin compensation Beijing court rejects monetary compensation in Bitcoin mining contract plea

A district court in Beijing has rejected monetary compensation in a Bitcoin (BTC) mining contract plea against a blockchain company.

16.12 / 03:21

Government Law regulation Mark Warner Senators Broker Six senators urge Treasury Secretary to clarify definition of broker in infrastructure law before 2022

A bipartisan group of U.S. senators have called on Treasury Secretary Janet Yellen to clarify the language in the infrastructure bill signed into law by President Joe Biden around the tax reporting requirements on crypto.

14.12 / 03:23

Law Congress hearing Law Decoded: A different Congress hearing, Dec. 6–13

The biggest regulatory story of the week was a United States House Committee on Financial Services hearing squarely focused on crypto. Even the event’s title — “Digital Assets and the Future of Finance: Understanding the Challenges and Benefits of Financial Innovation in the United States” — conveyed a different vibe than countless previous Congressional meetings that had been first and foremost about investor protection or security risks or threats to financial stability.

11.12 / 13:17

Law Stablecoin Bitcoin Virtual assets guidance FATF guidance on virtual assets: NFTs win, DeFi loses, rest remains unchanged

The Financial Action Task Force (FATF) released its long-awaited guidance on virtual assets, laying out standards that have the potential to reshape the crypto industry in the United States and around the world. The guidance addresses one of the most important challenges for the crypto industry: To convince regulators, legislators and the public that it does not facilitate money laundering.

10.12 / 16:53

Government Law Bitcoin recovery inflation data Crypto market eyes recovery ahead of key US inflation data release

Growing inflation has become a mounting concern for nations around the world, especially the United States.

09.12 / 13:53

business Law Asia Indian Indian trade group recommends ‘special class security’ status for crypto

The Confederation of Indian Industries (CII), a non-government trade association and advocacy group, has proposed to treat cryptocurrencies as securities of a special class.

09.12 / 12:09

Government Blockchain Law Bitcoin Puerto Rico wants to combat corruption with blockchain technology

Following another corruption scandal, the government of Puerto Rico is reportedly seeking to improve its anti-corruption efforts by adopting blockchain technology.

07.12 / 19:55

Blockchain Law Adoption Jail penalty Fine India to set maximum penalty for violating crypto norms at fine of $2.7 million or 1.5 years in jail

On Tuesday, BloombergQuint (Bloomberg India) reported that the penalty for non-compliance with the Indian government's crypto policies could range from a maximum fine of 20 crore rupees ($2.7 million USD) or 1.5 years in jail. Prime Minister Narendra Modi will likely give cryptocurrency investors a deadline to comply with new rules and declare their assets.

06.12 / 08:33

Law regulation Trading Singapore suspends Bitget exchange license over K-Pop coin promotion

Singapore-headquartered digital asset platform, Bitget, has reportedly been suspended by the Monetary Authority of Singapore after getting into a dispute with an agency for the popular K-Pop boy band BTS.

04.12 / 21:37

Government Blockchain Law Things to know (and fear) about new IRS crypto tax reporting

The Infrastructure Investment and Jobs Act (H.R. 3684) put crypto in the crosshairs, where Congress and the Internal Revenue Service (IRS) hope to scoop up enormous tax dollars.

03.12 / 19:55

business Law regulation US infrastructure law could brace up digital assets — but first some fixes

Back in August, there were some dire warnings about what the Biden Administration’s proposed infrastructure bill might do to the cryptocurrency and blockchain sector by driving crypto miners out of the United States, crippling America's leadership role, etc. In response, the crypto industry mobilized a full-court-lobbying press on lawmakers. However, it was too late to excise the troubling digital-asset language, and, in November, the infrastructure bill was signed into law.

02.12 / 01:01

Government Law Federal Reserve CFPB Reserve Biden is considering law professor, Fed president, and former CFPB director to fill 3 seats on Federal Reserve: report

The White House has reportedly begun interviews for possible candidates to fill the empty seats on the Board of Governors of the Federal Reserve System in 2022.

30.11 / 19:09

business Blockchain Law Vladimir Putin says cryptocurrencies 'bear high risks'

On Tuesday, Vladimir Putin, President of the Russian Federation, voiced his criticism regarding the state of the criticism sector at the "Russian Calling" investment forum in Moscow. According to local news outlet lenta.ru, the president made the following remarks, as translated by Cointelegraph:

30.11 / 17:29

Government Law Bitcoin Crypto's impact on sanctions: Are regulators' concerns justified?

The use of cryptocurrencies to evade international sanctions from various international governmental organizations like the United Nations (UN), the International Monetary Fund (IMF) and the World Bank, among others, has been a concern for regulators ever since the creation of cryptocurrencies.

29.11 / 20:11

Law Ban Law Decoded: India ponders going full China on crypto, Nov. 22–29

Are big emerging economies more likely to gravitate toward blanket crypto bans? China has set a precedent, and now it appears as if India could be weighing a similar policy direction: A bill containing a proposed ban on all “private cryptocurrencies” will go in front of the nation’s parliament sometime this winter. The measure is designed to clear the way for India’s central bank to advance its digital currency agenda.

25.11 / 21:23

Government Law regulation UK Law Commission affirms English and Welsh laws apply to smart contracts

The U.K. Law Commission, tasked with monitoring the laws in the United Kingdom and recommending reforms, has said England and Wales do not need statutory law reform for smart legal contracts in the digital asset space.

25.11 / 16:41

Government Blockchain Law Stablecoin European Council approves two digital asset proposals

The European Union's planned framework for regulating cryptocurrencies is one step closer to becoming official. On Wednesday, the European Council, which guides the EU's political agenda, announced its position on the Markets in Crypto Assets (MiCA) framework and the Digital Operational Resilience Act (DORA).

25.11 / 11:45

Government Law Adoption Europe Finnish regulators tighten the screw on virtual currency marketing

Hot on the heels of the rising cryptocurrency hype, Finnish regulators have dropped a formal notice. On Nov. 24th, the Financial Supervisory Authority (FIN-FSA) stated:

24.11 / 04:39

Government Law Ban Govt plans bill to ban private cryptocurrency, allow RBI digital coin

government will move a bill to frame rules for cryptocurrencies aimed at prohibiting private coin while providing a framework for the creation of an official digital currency to be issued by the Reserve Bank of India (RBI). The bill is listed among 26 items of legislation for consideration in the winter session of parliament, according to a bulletin issued by the Lok Sabha on Tuesday.

23.11 / 09:49

Law Altcoin copyrights NOT You shall not pass: Tolkien estate blocks ‘The Lord of the Rings’ JRR Token

The Lord of the Rings-themed ‘JRR Token’ has met a “bag end” after being forced to shut shop following legal action from the family and estate of the famed series’ author. J.R.R. Tolkien who died in 1973.

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