Tag: cryptocurrency regulation

Jan 15 2021

Tether Case: Important Date for Crypto Market

Tether: The biggest stable coin by market cap will be having a critical turning point. Tether case: The famous case of NYAG (New York Attorney General) vs iFinex. This case has been ongoing since April 2019 and has an important date on 15th of January 2020. By this date, iFinex has to submit all supporting documents for the minting of Tether to...

Jan 10 2021

The Monetary Authority of Singapore (MAS) Proposes New Crypto Regulations

Cryptocurrency usage in Singapore is on the rise. Hence, the need for better crypto regulations to guide crypto activities in the country. In line with this, the Monetary Authority of Singapore (MAS) has proposed several new crypto regulations. According to...

Jan 06 2021

United States OCC Approves Stablecoin Use by Banks

More great news rocks the crypto and blockchain space. This time around, the U.S. Office of the Comptroller of the Currency has greenlighted banks to carry out payments using stablecoins. The United States OCC made this announcement in an interpretive letter published on Monday, January 4, 2021. The letter further disclosed that banks can also now make use of public...

Jan 03 2021

Lition Helped Shape Blockchain Regulations in Germany

With Lition as an active advisor, the German government has recently passed new blockchain regulations. Germany has legalized electronic securities that are based on blockchain. The German government was advised by Lition in the shaping of the regulations. According to the...

Dec 30 2020

Ripple XRP Responds To the SEC

In view of the lawsuit by the United States Securities and Exchange Commission (SEC) against Ripple Labs Inc., popular cryptocurrency exchange Coinbase has announced its decision to suspend trading of XRP on its platform. Also, Ripple Labs and Brad Garlinghouse have issued responses to the SEC lawsuit. Coinbase, through an official...

Dec 16 2020

Digital Currency Regulation Gets Backing From G7 Finance Officials

The need for the regulation of digital currencies has received backing from the G7 financial officials. These G7 financial officials consist of central bankers and finance ministers from the Group of Seven (G7) advanced economies. The U.S. Treasury Department recently released a statement that shows that the G7 finance officials have strongly supported that digital currencies should be regulated, as...

Dec 10 2020

Can Fintech Regulations Be Positive?

Many see regulations as an impediment to innovation and success. This view is pervasive in the decentralized crypto ecosystem. There are those, however, who maintain a different point of view. An article posted by Entrepreneur posits that fintech regulations can be a good thing and bring about innovation in the industry. The article...

Dec 07 2020

New Crypto Regulations Are a Major Concern for U.S.-Based Exchanges

The whole crypto ecosystem was built on the foundation of decentralization; to hand over the final control into the hands of the common man. However, as days are passing by, this ecosystem is turning more and more centralized, which defies the purpose of blockchain and cryptocurrencies. In many countries, crypto regulations are a ā€œgray area.ā€ While some countries have defined some regulations for...

Dec 01 2020

Chinese Police Confiscate Crypto Worth $4.2B From PlusToken Ponzi Scheme

The crypto space, since its inception, has attracted a lot of nefarious individuals who usually prey on the lack of crypto knowledge of willing investors. A major pointer to this is the Ponzi scheme platform known as PlusToken. The platform was raided by the Chinese police in 2019 and the organizers arrested. According to...

Nov 25 2020

Crypto.com Obtains Two New Licenses in Malta

Crypto.com achieves yet another major milestone. It has become one of the first crypto platforms to achieve two major licenses in Malta. Crypto.com, in an official blog post, disclosed that it is now the recipient of Malta's in- principle approval for a...

Oct 30 2020

US Federal Reserve Might Classify Crypto as Money

Cryptocurrencies might soon receive the acknowledgment they deserve in the United States. The United States Federal Reserve has disclosed that it might be considering classifying digital currencies as a legitimate currency. This announcement closely follows the submission of a proposal by both the U.S. Federal Reserve and FinCEN (Financial Crimes Enforcement Network). Both government-backed regulatory agencies are looking to classify digital...

Oct 29 2020

US IRS Publishes Its 2020 Tax Guidance Draft

Taxation in the crypto space is one of the most debated issues among regulators worldwide. The United States Internal Revenue Service (IRS), in its 2020 tax guidance draft, discussed details of proposed cryptocurrency taxation. Prior to this, the U.S. IRS distributed its main taxation form 1040 to over 150 million people. They were expected to indicate if they have sold, exchanged, received, or...

Oct 14 2020

U.S. Fintech Being Stifled by Regulators

Fintech innovation has been stifled in the United States, and this has attracted the attention of many concerned and renowned experts. According to Dan Tapiero, the co-founder of 10T Holdings, fintech regulations in the U.S. are a "big problem." He claims that this is because the current fintech regulations have not put the future into consideration. His tweet reads:...

Oct 11 2020

Monero Price Rises While IRS Tries to Break Anonymity

The Internal Revenue Service (IRS), which is the U.S. tax authority, has been drawn towards the most renowned private cryptocurrency, Monero. Reportedly one of the best choices for privacy-focused cryptocurrency, Monero has attracted the attention of the tax agency. As a result, the IRS has employed analysts to unmask Monero's activities. However, it does appear that Monero price is...

Oct 04 2020

Japanese Crypto Exchange Sues Binance

Japanese cryptocurrency exchange Fisco, formerly known as Zaif, is suing Binance for allegedly facilitating the laundering of some stolen funds. In 2018, Fisco suffered from a hack of $60 million and have now sued Binance in a U.S. court for "aiding and abetting" the process of the laundering scheme. Fisco alleges the laundering led to a loss of over $9 million worth of...

Oct 01 2020

European Commission Unveils Plan to Regulate Cryptocurrencies

The European Commission, the executive branch of the European Union, has announced its plans to regulate digital currency. Such regulations will be introduced over the next four years. The European Commission noted that it was important to mitigate any potential risks for users and investors while still fostering...

Sep 26 2020

KuCoin Hacked! $150 Million Worth of Crypto Missing

Sep 26 2020 Published at Altcoin Buzz under tags  cryptocurrency regulation hack kucoin

Popular cryptocurrency exchange KuCoin has released details of a security breach on its platform. According to KuCoin, about $150 worth of Bitcoin, Ethereum, and several other cryptocurrencies have been moved from the exchange platform. This announcement comes as a shock to the exchange users because KuCoin prides itself as being both advanced and secure. KuCoin confirmed the hack in a...

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