Us government Financial News

23.02 / 09:43

business Blockchain Law Adoption regulation security us government Lawyer US court 'It would be absurd' for a US court to rule private NFTs as securities: Lawyer

Blockchain Association’s chief legal officer says “it would be absurd” for a United States court to rule that digital assets on private blockchains are securities, following a federal judge's decision to allow a lawsuit against Dapper Labs's NBA Top Shots NFTs to play out.

23.02 / 01:19

Government Law regulation SEC us government NOT Gary Gensler’s SEC is playing a game, but not the one you think

On Feb. 13, a federal judge put the Securities and Exchange Commission and the Commodity Futures Trading Commission cases against former FTX CEO Sam Bankman-Fried on hold. You’ll be forgiven if you missed this story — headlines and social media were dominated by the breaking news that the SEC was suing crypto firm Paxos for minting Binance’s stablecoin, Binance USD (BUSD).

21.02 / 05:03

markets business Adoption SEC Kraken us government FTX poked the bear and the bear is pissed — O'Leary on the crypto crackdown

Shark Tank investor and venture capitalist Kevin O’Leary has urged crypto exchanges to “get on board with regulation” if they want to “stay out of the way” of Gary Gensler and the United States Securities Exchange Commission (SEC).

20.02 / 08:51

Blockchain Mining regulation us government transactions Smart Contracts Senate 'Unworkable' bill to ban blockchain immutability is introduced in Illinois

A recently introduced Illinois Senate Bill has been ridiculed by the crypto community over its "unworkable" plans to force blockchain miners and validators to do "impossible things" — such as reversing transactions if ordered to do so by a state court.

17.02 / 19:31

Government Adoption SEC security Kraken us government SEC vs. Kraken: A one-off or opening salvo in an assault on crypto?

In a year of crypto upheavals, the United States Securities and Exchange Commission’s settlement with crypto exchange Kraken, announced on Feb. 9, set off yet another tremor. Agency chief Gary Gensler took to mainstream media last week to explain the agency’s action, which seemed to be an attack on crypto staking — part of the validation mechanism used by a number of blockchain platforms, including Ethereum, the world’s second-largest network.

16.02 / 06:05

business Adoption regulation SEC us government SEC proposes tougher rules as part of its crypto custody crackdown

A five-member panel of the United States Securities Exchange Commission (SEC) has voted 4-1 in favor of a proposal that may make it more difficult for cryptocurrency firms to serve as digital asset custodians in the future.

16.02 / 01:27

Government Law regulation SEC Kraken us government The SEC shook Kraken down for $30M, but it doesn't mean they had a case

The settlement between Kraken (Payward Ventures) and the United States Securities and Exchange Commission set off alarm bells in the crypto community this month. Apparently, Kraken — one of the most compliance-minded crypto exchanges in existence — decided to buy its peace rather than fight with the SEC for years over whether it was offering unregistered “securities” through its staking program. The nature of the settlement is that Kraken neither admitted nor denied the SEC’s allegations, and the existence of the settlement, technically speaking, cannot be used as legal precedent for any argument either side of the issue might present.

15.02 / 05:51

business Blockchain Ethereum Stablecoin regulation SEC us government Ethereum staking stake Sell or stake: Ethereum staking giant Lido mulls choices for its $30M ETH

The decentralized autonomous organization (DAO) behind Lido — the largest Ethereum staking pool — is deliberating whether it should sell or stake the $30 million in Ether (ETH) from its treasury.

14.02 / 23:00

Government Law regulation SEC us government Expect the SEC to use its Kraken playbook against staking protocols

The United States Securities and Exchange Commission (SEC) settledwith Kraken on Feb. 9 for an action taken against the exchange’s staking rewards program. Kraken paid a $30 million fine and agreed to halt the program.

14.02 / 10:07

business Blockchain Adoption SEC us government Wall Street Pensions SEC to target crypto firms operating as 'qualified custodians' — Report

The United States Securities and Exchange Commission (SEC) is reportedly planning to propose new rule changes this week that could impact what services crypto firms can offer their clients.

14.02 / 08:49

business Ethereum Adoption regulation us government transactions censorship OFAC Low OFAC-compliant blocks on Ethereum hit three-month low of 47%

The percentage of Ethereum blocks complying with orders set by the United States Office of Foreign Asset Control (OFAC) has now fallen to 47% — the lowest level since Oct. 11.

10.02 / 05:15

business Ethereum Adoption SEC security Kraken us government ‘Agent of an anti-crypto agenda’ — Community slams Gensler over Kraken crackdown

Members of the crypto community are seemingly outraged over the recent charges laid against crypto exchange Kraken in relation to its staking-as-a-service program in the United States.

09.02 / 17:15

Government Law Adoption regulation SEC security us government Crypto and securities: New interpretation of US Howey test gaining ground

The crypto community celebrated a victory in court on Jan. 30 when the United States Securities and Exchange Commission (SEC) admitted in the remedies hearing of the LBRY case that secondary sales of its LBC coin were not securities sales. John Deaton, who represents Ripple in court in the SEC’s case against it, was so excited that he created a video for his Twitter-hosted CryptoLawTV channel that evening.

08.02 / 18:51

Government Law Adoption regulation Drugs us government Congress Crypto and psychedelics: Clarifying regulations could help industries grow

This year, investors are watching for big spikes in biotech companies working with psychedelics, especially as the once-controversial compounds return to the spotlight touting mental health benefits — and uniting lawmakers at the United States Capitol across party lines.

06.02 / 22:55

Government Law defi Tokens us government Did dYdX violate the law by changing their tokenomics?

On Jan. 24, the dYdX Foundation, the entity responsible for the dYdX decentralized crypto exchange, announced “changes” to its tokenomics — the way it distributes tokens to early investors, employees and contractors, and, of course, the public.

05.02 / 04:31

business regulation Scams Fraud us government Press Release New Jersey enforces cease and desist orders against three ‘pig butcher’ scammers

The New Jersey Bureau of Securities has ordered three website operators to stop luring romance-seeking victims into their fraudulent cryptocurrency investment schemes.

04.02 / 17:19

business Government Law us government Taxes Bitcoin strategies Tax strategies allow crypto investors to offset losses

2022 was tough for the crypto market. A recent report published by security services platform Immunefi found that the crypto industry lost a total of $3.9 billion in 2022.

03.02 / 04:45

business Blockchain Adoption Digital Currency us government Federal Reserve Bitcoin Fiat is in 'jeopardy' but Bitcoin, stablecoins aren't the answer either: Ray Dalio

Billionaire investor Ray Dalio has described fiat currency as being in serious “jeopardy” as an effective store of wealth but doesn’t believe Bitcoin (BTC) and stablecoins will be the solution either.

02.02 / 17:05

Government regulation IRS us government Taxes Bitcoin Mind What crypto hodlers should keep in mind as tax season approaches

Filing taxes for cryptocurrency can be a confusing and daunting task for many individuals. The United States Internal Revenue Service (IRS) treats cryptocurrency as property subject to capital gains taxes. Knowing this appears to make filing crypto taxes simple, but crypto’s unique nature means there are many unanswered questions.

01.02 / 05:53

business regulation Fraud us government Gold marketing advertisement Founder of $7.5M 'brazen fraud scheme' to see 8 years behind bars

Founder of “My Big Coin” and convicted fraudster Randall Crater has been sentenced to 100 months in prison and has been ordered to pay over $7.6 million to the victims of his fraudulent scheme.

01.02 / 00:47

business Government Blockchain Technology security us government Blockchain provider SIMBA Chain awarded $30M by US Air Force STRATFI program

Blockchain solutions provider SIMBA Chain has been selected for a $30 million Strategic Technology Focus Initiative (STRATFI) by the United States Air Force (USAF). The initiative is focused on identifying and advancing technologies that could secure the future dominance of the U.S. Air Force.

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