Metaverse, gaming and incentive-offering DeFi tokens pumped last week even as Bitcoin and the total crypto market capitalization dropped. Here’s why.
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Category: Regulation
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WEF releases resource suite for CBDCs and stablecoins aimed at regulators and businesses leaders
The publication contains 8 separate white papers exploring topics including the impact of lawmakers regulating stablecoins and central bank digital currencies as well as informing them about the risks, benefits, and alternatives.
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US and UK Agree to ‘Heighten the Focus on Illicit Use of Cryptocurrency’
The U.S. and U.K. governments have “committed and agreed to heighten the focus on illicit use of cryptocurrency and ransomware,” the U.S. Department of Justice announced. According to the FBI, high crypto prices have partially made ransomware “incredibly lucrative for the criminals.” Governments Collaborate to Focus on Illicit Use of Crypto The U.S. Department of […]Powered by WPeMatico
President Biden picks Jerome Powell to be next Fed chair
During his time as Fed chair, Powell has said the agency was “working proactively to issue a CBDC” but was unlikely to support a blanket ban on crypto.
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IRS Expects to Seize Billions of Dollars in Cryptocurrency Next Year — More Than $3.5 Billion in Crypto Seized This Year
The Internal Revenue Service (IRS) has revealed that $3.5 billion in crypto was seized during the fiscal year 2021. This represents 93% of all funds seized by its criminal investigation unit during the same time period. The agency expects to seize billions of dollars more in cryptocurrency next year. IRS Says It Could Seize Even […]Powered by WPeMatico
US Sentences Man to 3 Years in Prison for Operating Unlicensed Bitcoin Exchange Business
A California man has been sentenced to three years in federal prison “for operating an unlicensed business that exchanged at least $13 million in bitcoin and cash, often for drug traffickers,” the U.S. Department of Justice said. He agreed to forfeit various assets, including seized cryptocurrency. Bitcoin Exchange Operator Sentenced to 3 Years in Jail […]Powered by WPeMatico
Microstrategy CEO Discusses Bitcoin Becoming $100 Trillion Asset Class — Says BTC Will Grow 100X
The CEO of Microstrategy says that bitcoin will emerge as a $100 trillion asset class and will grow 100X from where it is today. He said the cryptocurrency is winning against gold as a store of value and he is not worried about regulation. “I’m not at all troubled with the regulations that’s going on […]Powered by WPeMatico
Alabama Securities Regulator Shuts Down 97 Fraudulent Cryptocurrency Trading Websites
The securities regulator of the U.S. state of Alabama has issued a cease and desist order against Acoin Trading and 96 other cryptocurrency websites. The crypto investment schemes promise “excessive returns,” report “fictitious account values,” and impose “undisclosed fees.” US State Regulator Orders 97 Crypto Trading Websites to Shut Down Alabama Securities Commission announced Thursday […]Powered by WPeMatico
Opposed to Bitcoin Payments, Bank of Russia Says State Should Not Stimulate Spread of Cryptocurrencies
Cryptocurrencies are anonymous and the government shouldn’t encourage their spread, the head of Bank of Russia has insisted. The regulator remains firmly opposed to the legalization of bitcoin and the like as a means of payment in the Russian Federation. Bank of Russia Reiterates Negative Stance on Cryptocurrencies, Legalization of Bitcoin A “responsible state” should […]Powered by WPeMatico
10 Congress Members Ask Nancy Pelosi to Help Revise Crypto Provision in Infrastructure Bill
Ten members of the U.S. House of Representatives have called on House Speaker Nancy Pelosi to address the problem with the crypto provision in the infrastructure bill. They explained that the current definition of a broker in the bill “would increase uncertainty in the cryptocurrency industry, pick winners and losers … all while eroding our […]Powered by WPeMatico