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“When you target one industry the way they are with this bill, that’s bad policy no matter what the industry you’re targeting,” said Satoshi Action Fund CEO Dennis Porter. Go to Source Powered by WPeMatico
Russia is launching a new payment system that is “bound by no restrictions” where digital currencies could be used in cross-border payments, said Russian Finance Minister Anton Siluanov. “Two parties come to an agreement, make settlement payments, and no other country could step in and freeze such payments,” the top official explained. Digital Currency ‘Bound … Read more
The draft bill no longer included aspects of an earlier version that included legislation of custodial service providers and algorithmic stablecoins, as well as a CBDC study. Go to Source Powered by WPeMatico
The Internal Revenue Service (IRS) is planning to send investigators to four countries where they are expected to tackle the use of crypto and decentralized finance products in global financial and tax crimes. According to the tax collector’s spokesperson, the IRS will be able to determine the success of the pilot program by rating the … Read more
Officials have revealed that Ukraine intends to implement the crypto market rules approved by the European Parliament. While the government is already moving in that direction, the tax service has issued a clarification regarding the taxation of income resulting from cryptocurrency transactions. Ukraine Set to Incorporate EU Crypto Regulations Into National Law A regional leader … Read more
Attorneys defending the co-founder of Terraform Labs, Do Hyeong Kwon, also known as Do Kwon, have presented their argument that says the U.S. Securities and Exchange Commission (SEC) has no jurisdiction in the matter. The legal team asserts that U.S. law precludes regulators “from using federal securities law to assert jurisdiction over the digital assets … Read more
The South Korean central bank is set to be granted the right to investigate virtual assets after the Financial Services Commission (FSC) dropped its opposition to the move. According to a report, the FSC dropped its opposition to the central bank’s bid after it was accused of seeking to make itself the country’s sole regulator … Read more
Jeremy Sheridan claimed FTX users could become the targets of physical harm as well as attacks through online scams if their information was disclosed. Go to Source Powered by WPeMatico
Anja Manuel said U.S. sanctions generally work with “responsible” blockchain firms but not when there are fintech solutions available to individuals looking to circumvent them. Go to Source Powered by WPeMatico
Members of the European Parliament gave their final approval to a package of EU-wide regulations for crypto assets. The legislators also backed the introduction of mechanisms allowing the tracing of cryptocurrency transactions which will also apply to private crypto wallets above a certain threshold. European Lawmakers Endorse Groundbreaking Crypto Assets Legislation Europe’s new common rules … Read more