The United States Treasury Department is reportedly seeking to clarify the definition of brokers in the bipartisan infrastructure bill passed by the Senate last week, offering cautious reassurance that the new legislation won’t impact innovation and growth in the blockchain industry. As reported by Bloomberg, the Treasury Department is preparing guidance on what types of
Regulation
Crypto criminals are getting more adaptive and smarter than ever before. But how can industry service providers keep up with them? If I say that the crypto industry is highly targeted by cybercriminals and, in particular, organized criminals, I’m sure that no one who has spent a few months within the space would be surprised.
Security Service of Ukraine (SBU) has shut down several crypto exchanges reportedly involved in illegal financial transactions since the start of 2021. According to a statement by the SBU on Wednesday, the network of “clandestine cryptocurrency exchanges” were based in the country’s capital Kyiv and collectively processed a monthly turnover of $1.1 million in funds
It was a topsy turvy week — “staggering,” a crypto veteran called it. One that saw United States Senator Ted Cruz and Senator Ron Wyden collaborate on behalf of the cryptocurrency and blockchain industry — albeit, in a lost cause. These events could eventually pave the way for future regulatory success, though it may not
United States Senators have cast their votes, and the contentious HR 3684 infrastructure bill cleared in the upper Congress chamber. Now, the gigantic document of over 2,700 pages and amounting to almost $1 trillion is heading to the House of Representatives, including the provisions expanding the definition of a cryptocurrency broker, designed to beef up
Binance has halted Korean won (KRW) trading pairs as part of a raft of changes to its operations in South Korea. In a notice issued on Friday, the crypto exchange giant announced the discontinuation of KRW trading pairs as well as KRW payment options on its service. Other features discontinued include Korean language support on
Artificial intelligence research lab Fetch.ai has been granted a request to have major cryptocurrency exchange Binance identify individuals behind a $2.6 million hack. According to a Friday Reuters report, the Royal Courts of Justice in London has ordered Binance to identify the hackers and seize the stolen assets. Fetch.ai reportedly claimed that hackers stole $2.6
As the United States continues to weigh out the best ways to include crypto businesses through an infrastructure bill, the state of Wyoming has taken proactive measures to attract Bitcoin (BTC) miners and other crypto businesses to its local jurisdiction. Wyoming’s crypto-friendly notion comes into light as the state has passed more than 24 bills
A Californian congresswoman has written to Speaker Nancy Pelosi expressing concerns about the controversial new mandate for crypto tax reporting. Anna Eshoo, who represents California’s 18th Congressional District, penned a letter to the Democratic party speaker of the United States House of Representatives, Nancy Pelosi, on Aug. 12. In it, she urged Pelosi to amend
The United States Securities and Exchange Commission’s chairperson Gary Genslerannounced this month that the crypto industry should not escape the purview of the regulator. He highlighted that decentralized finance (DeFi) trading and lending protocols need particular attention when it comes to investor protections. Regulation can extend into a menu of options that covers custody, reporting,
Australian crypto influencer Alex Saunders is being sued by a disgruntled follower of his YouTube channel and advice service Nuggets News. The plaintiff, New Zealand-based Ziv Himmelfarb, filed a formal written order on Aug. 11 in the Victorian Supreme Court demanding that Saunders repay 479,270 Australian dollars ($353,027) in losses and damages for unpaid loans
Alternative financial services firm, Valkyrie Digital Assets, has become the latest company to file for a Bitcoin exchange-traded fund (ETF) offering indirect exposure to BTC via cash-settled futures contracts. According to a draft prospectus dated August 11, the Bitcoin futures contracts will be purchased via a Cayman Island-based subsidiary wholly owned by the fund via
United States lawmakers will soon destroy a massive opportunity for job creation and a diverse workforce in blockchain technology if they do not amend infrastructure bill HR 3684, which would require blockchain developers to attain broker status on U.S. soil. HR 3684 does not recognize the taxonomy of the asset class. Not every crypto asset
India’s regulatory uncertainties have not affected the investor’s sentiment towards crypto as the latest data from crypto exchanges suggests a rising influx of users. Binance-owned Indian crypto exchange WazirX reported a 2,648% growth to date in user signups from smaller cities across India, also known as tier-II and tier-III cities, that can host up to
Asset manager VanEck is filing for a Bitcoin Strategy exchange-traded fund after it unsuccessfully attempted to launch a similar fund four years ago. According to U.S. Securities and Exchange Commission, or SEC records, VanEck filed a prospectus for a Bitcoin Strategy exchange-traded fund, or ETF, on Aug. 9. Unlike its Bitcoin (BTC) or Ether (ETH)
Crypto derivatives exchange BitMEX has agreed to pay up to $100 million to resolve a case from the United States Commodity Futures Trading Commission and the Financial Crimes Enforcement Network. In an announcement today, BitMEX said it had reached a settlement with the two government agencies in regards to civil charges against the exchange. No