Regulation

Authorities in Malaysia destroyed more than $1.2 million worth of Bitcoin mining rigs after they were confiscated for operating illegally. In a video posted today from local news outlet DayakDaily, police in the city of Miri on the island of Borneo and the Sarawak Energy company arranged for a steamroller to run over 1,069 Bitcoin

A major cryptocurrency and blockchain association in Russia is launching a project to bring global crypto mining operations to the country amid a Chinese crypto mining crackdown. The Russian Association of Cryptoeconomics, Artificial Intelligence and Blockchain, or RACIB, announced an initiative aimed at transferring global computing resources for crypto mining to the Russian Federation. More

United States’ city of Jackson, Tennessee, continues exploring a potential dive into cryptocurrencies, now looking to accept Bitcoin (BTC) for property tax payments. Jackson Mayor Scott Conger announced late Thursday that the city’s blockchain task force had launched a study on potential methods to accept property tax payments in Bitcoin in the city. The blockchain

U.S. congressional representatives introduced a bipartisan bill on July 15 with the goal of providing a clear definition of assets, such as digital tokens and other emerging technologies, under current securities law. Known as the Security Clarity Act, the bill was introduced by Rep Tom Emmer (R-MN), Rep Darren Soto (D-FL), and Rep Ro Khanna

The U.S. Department of State has announced it will be taking a seemingly more active role in the pursuit of keeping some crypto users accountable. According to a Thursday Bloomberg report, the Biden administration intends to ramp up efforts to trace cryptocurrency payments, particularly when it comes to ransomware attacks. The government plans to address

The U.S. Securities and Exchange Commission has settled charges against the defunct initial coin offering (ICO) review website Coinschedule.com for violating the anti-touting provisions of federal securities laws. But two SEC commissioners have penned an open letter in response saying the settlement highlights flaws with the commission’s processes. According to a July 14 release from

Fed Chairman Jerome Powell told the House of Representatives today that stablecoins should face stricter regulations similar to money market funds or bank deposits.  Powell was asked specifically about Tether, currently the most valuable stablecoin, by Rep. Anthony Gonzalez (R-OH). Tether claimed each coin was backed by a dollar, but that has been proven false;

Brazil’s Comissão de Valores Mobiliários (CVM), the country’s securities regulator, has approved an Ether (ETH) exchange-traded fund (ETF), according to an announcement by QR Capital, the holding company of QR Asset Management. The fund, which trades under the ticker QETH11 will trade on Brazil’s highly reputable B3 stock exchange, which operates as a regional exchange and

Eun Sung-soo, chairman of South Korea’s Financial Services Commission (FSC), has said that foreign crypto exchanges that deal in the Korean won must comply with the country’s Anti-Money Laundering standards. According to The Korea Herald on Tuesday, Eun made these comments while fielding questions from lawmakers about the FSC’s plans to regulate crypto exchange giant Binance.

The Bank of England (BoE)’s latest Financial Stability Report, released twice yearly, acknowledges that increased crypto trading action and price volatility in 2021 signals that the sector is harboring “potential pockets of exuberance.” The report notes that the top market cryptos, Bitcoin (BTC) and Ether (ETH), saw a sharp appreciation in value over the 12

Indian’s stance on crypto adoption has maintained a gray composure ever since the birth of Bitcoin. In what seems like another blow for the Indian crypto community, one of the biggest financial services, ICICI Bank, has warned users to not use their remittance services for transferring any form of crypto or digital currency. In ICICI’s

Caitlin Long, the founder and CEO of the pioneering bank for the crypto sector, Avanti Bank & Trust, has declared that the regulatory crackdown on crypto “has begun.” In a lengthy tweet on July 13, the Wall Street veteran highlighted her thoughts on the current regulatory situation in the U.S., predicting that authorities will not

Binance has faced a number of regulatory issues in recent weeks. Payments player Clear Junction has suspended activity with Binance after similar moves from Barclays and Santander.  “Clear Junction can confirm that it will no longer be facilitating payments related to Binance,” Clear Junction said in a statement that was tweeted out by Adam Samson of the

Is Binance crypto’s new whipping boy? Regulators in the United States, the United Kingdom, Canada, Japan, Thailand and the Cayman Islands have all recently issued warnings and even criminal complaints against the cryptocurrency exchange. Even Poland entered the fray as its financial regulator warned citizens to exert “special caution” when using Binance’s trading services. Some

The United States Internal Revenue Service (IRS) stretches the tax rules to fit its cryptocurrency agenda. At no time in tax history has pure creation been a taxable event. Yet, the IRS seeks to tax new tokens as income at the time they are created. This is an infringement on traditional tax principles and problematic

As Bitcoin (BTC) has continued trading sideways after dipping below $33,000 on Thursday, Galaxy Digital CEO Mike Novogratz has provided some geopolitical observations regarding the industry. In an interview with CNBC’s Squawk Box, Novogratz said that Bitcoin price is now consolidating between $30,000 and $35,000, suggesting that the United States’ crypto community is now taking