Regulation Financial News

10.03 / 01:25

regulation New York State NY AG sues KuCoin for selling securities and commodities without registration

New York state Attorney General Letitia James announced that she has filed suit against cryptocurrency exchange KuCoin after she was able to buy and sell crypto on the exchange, which is not registered in New York. “This action is one of the first times a regulator is claiming in court that ETH, one of the largest cryptocurrencies available, is a security,” according to her statement.

10.03 / 00:49

business Adoption regulation Banks exit Crypto industry braces for impact with Silvergate exit

Silvergate is not a systematic risk for the United States banking system, but it could have a significant impact on the crypto markets, multiple sources told Cointelegraph. These may include increasing banking concentration in a few partners and challenges for venture capital firms seeking to establish banking relationships in the country.

09.03 / 22:05

regulation Congress House Republicans House Republicans directly criticize Biden administration for digital asset policies

Statements from Republican lawmakers ahead of the inaugural hearing of the United States House of Representatives subcommittee focused on digital assets, financial technology and inclusion suggest partisan divides on crypto regulation.

09.03 / 19:33

regulation sanctions US REPO task force names crypto as target in efforts involving $58B in sanctioned assets

The United States Treasury has announced deputies of the multilateral Russian Elites, Proxies, and Oligarchs, or REPO, Task Force have targeted crypto in Russian entities’ attempts to evade sanctions.

09.03 / 18:33

business Blockchain regulation swift testing SWIFT moves to next phase of CBDC testing after positive results

According to a statement on Mar. 9, bank messaging platform Society for Worldwide Interbank Financial Telecommunications, or SWIFT, disclosed that the financial institution witnessed positive results related to its pilot test of linking different central bank digital currencies (CBDCs).

09.03 / 17:15

regulation wallet Decentralized Exchange Taxes Bitcoin Regulation CoinTracker integrates with H&R Block to offer crypto tax preparation

Crypto tax software provider CoinTracker is integrating its software with H&R Block, a company that helps millions of customers prepare their income taxes across Canada, the United States and Australia.

09.03 / 16:43

Payments regulation Banks Bitcoin Ukraine’s central bank sees both promises and threats in Bitcoin

The National Bank of Ukraine (NBU) has expressed a mixed stance on cryptocurrencies like Bitcoin (BTC) after a year of war in the country.

09.03 / 16:43

regulation exchanges accounting reports reserves US accounting watchdog warns investors about proof-of-reserves reports

The Public Company Accounting Oversight Board (PCAOB), a watchdog that oversees audits of public companies in the United States, recently issued an advisory that warned investors about proof-of-reserves (PoR) reports issued by auditing firms.

09.03 / 14:49

regulation Tax Investment DAO compliance Crypto Payroll Firm Toku Raises $20 Million Amid Industry-Wide Shift Towards Compliance

Toku, a startup specializing in token-based payroll and tax compliance, has successfully raised $20 million in funding. The company's unique approach is designed to assist crypto businesses in maintaining regulatory compliance amidst increased scrutiny from regulators. With its innovative solutions, Toku aims to provide a much-needed helping hand to the crypto industry during these uncertain times.

09.03 / 13:09

NFT regulation German regulator BaFin suggests a 'case-by-case' approach for NFTs

Federal Financial Supervisory Authority of Germany (BaFin) is not ready to classify nonfungible tokens (NFTs) as securities yet. The Agency suggests classifying the NFTs on a case-by-case basis.

09.03 / 11:45

Law regulation FTX class action Judge refuses to consolidate class action suits against FTX

A federal judge has refused to consolidate a number of proposed class-action lawsuits against the FTX exchange by investors. According to the judge, the exchange and its defendants have not yet been heard on the matter.

09.03 / 11:31

Stablecoin regulation BitMEX Arthur Hayes Bitcoin BitMEX co-founder Arthur Hayes proposes Bitcoin-based stablecoin

Amid the United States regulators increasingly scrutinizing stablecoins, the community continues to pitch new ideas of stablecoins independent from the U.S. dollar.

09.03 / 09:09

business Binance regulation coinbase Banks swift debate Silvergate downfall sparks debate over whose fault it actually was

The voluntary liquidation of crypto-friendly bank Silvergate has sparked many to share their thoughts about the source of its troubles and the broader impact of the bank’s collapse on crypto.

09.03 / 07:19

regulation Trading Taxes Tax reduction reports Biden wants to double capital gains and clamp down on crypto wash sales: Reports

U.S. President Joe Biden’s upcoming budget proposal has a few surprises for crypto traders and investors, including a proposed doubling of capital gains for certain investors and a crackdown on crypto wash sales.

09.03 / 05:37

business regulation Department Of Justice Scams Fraud us government Bitcoin Prison AirBit Club execs face decades in prison after pleading guilty to $100M fraud

Six people involved in a cryptocurrency “Ponzi scheme” that raked in about $100 million over five years have pled guilty to a series of fraud and money laundering charges, each carrying a maximum sentence of 20 to 30 years of prison.

09.03 / 01:25

regulation legislation Parliamentary Committee committee FCA officials tell UK parliamentary committee crypto regulation is unavoidable

Officials of the United Kingdom’s Financial Conduct Authority (FCA) appeared before the House of Commons’ Treasury Committee on March 8 to discuss the agency’s work. Among the issues raised was cryptocurrency regulation, which the officials approached with a clear lack of enthusiasm.

09.03 / 01:25

business regulation Gemini Banks Gemini’s banking relationship with JPMorgan ‘remains intact’

Crypto exchange Gemini took to Twitter on March 8 to deny rumors about its banking relationship with United States financial conglomerate JPMorgan being terminated. In a brief and straightforward message, Gemini stated that “despite reporting to the contrary, Gemini’s banking relationship remains intact with JPMorgan.”

09.03 / 00:05

Law Stablecoin regulation Congress Crypto bill draft will be released in April, says Senator Gillibrand

According to United States Senator Kirsten Gillibrand, a new draft of the bipartisan crypto bill pioneered by herself and Senator Cynthia Lummis will be released to the new Congress after being deferred in 2022.

08.03 / 21:49

Law CFTC regulation policies CFTC continues to explore digital asset policy considerations in MRAC meeting

The United States Commodity Futures Trading Commission, or CFTC, was a part of discussions on a regulatory framework for digital assets as well as use cases for blockchain technology.

08.03 / 18:07

Adoption regulation Religion Metaverse Meta Death in the metaverse: Web3 aims to offer new answers to old questions

The age-old question of “what happens after we die” is one humanity has grappled with for millennia. Religions, philosophers and thought leaders have put forth theories about each person’s fate beyond life on earth. Until now, no factual, science-based conclusion has provided a satisfying answer.

08.03 / 17:29

regulation Europe inflation Bitcoin Bitcoin Price end asset manager NOT It’s not the end of crypto: EU asset manager gives 5 reasons why

The ongoing cryptocurrency winter and massive collapses in the industry do not mean that digital assets like Bitcoin (BTC) are doomed to fail, according to a major European asset manager.

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