Regulation

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ICO Aftermath: US Rules in Favour of SEC in $100M KIK Case – SALT to Reimburse Claimants From 2017 ICO

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A US court has ruled in favour of the US SEC after the regulator’s filing of a motion seeking summary judgment against Kik for violating the country securities laws. Kik, which raised $100 million from 2017 ICO, had filed its own motion of summary judgment but the court refused to grant this. In his judgment, … Read more

New Zealand Tax Agency Asks Crypto Firms to Hand Over Clients’ Personal Data

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The Inland Revenue Department (IRD) of New Zealand has requested that crypto companies in the country hand over their customers’ personal details, cryptocurrency asset values as well as the type of asset held. According to a September 28 report by Radio New Zealand, the tax agency says it wants to improve its understanding of the … Read more

Russia Proposes Harsh Penalties for Unreported Cryptocurrency Holdings

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Russia’s Ministry of Finance has drafted a bill with harsh penalties for anyone who does not report their cryptocurrency holdings above a certain level. Penalties include jail terms and fines. New Russian Crypto Bill The Russian Ministry of Finance has sent out a new draft bill addressing the circulation of cryptocurrency in Russia to interested … Read more

US Federal Reserve Actively Working on Digital Dollar

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The Federal Reserve Board of Governors and several Federal Reserve Banks are actively working on the digital dollar. Legislation has proposed that each American could have an account at the Fed for transacting in the central bank digital currency. Several Digital Dollar Initiatives The president of the Federal Reserve Bank of Cleveland, Loretta J. Mester, … Read more