More bad news for crypto users in India. India Crypto Crush Ongoing The Indian government may block the IP addresses of cryptocurrency firms and exchanges, according to recent reports. Local news outlet Business Today...
Cryptocurrency exchange Binance has announced that Maxwell Baucus, the former U.S. Senator and ambassador to China, will be joining its team. Baucus is expected to function as a government liaison and policy adviser while assisting the firm to navigate the U.S. regulatory clime. Simply put, Maxwell Baucus will help Binance remain regulatory compliant as well as guide all of its activities involving...
The Commodity Futures Trading Commission (CFTC) is probing Binance Holdings Ltd., the largest cryptocurrency exchange by volume, concerning transactions that were allegedly carried out by U.S. residents. According to the report, the CFTC is investigating Binance to find out if U.S....
In Manhattan. federal prosecutors have indicted John McAfee and an associate, Jimmy Watson, for fraud and money laundering crimes. John McAfee is the founder of the McAfee antivirus software company while Jimmy Gale Watson Jr. served as the executive adviser of the McAfee crypto team. Charges Against the McAfee Team On the 5th of March, the United States Attorney for the Southern District...
Coinbase is all set to launch its class A common stock on the stock market. This is huge milestone in the cryptocurrency space. Coinbase announced today that it has filed a registration with the United States Securities and Exchange Commission for a public direct listing of its stock. This will be a class A common stock. COIN...
The Central Bank of Nigeria said its warning to banks on Friday was not a new position, but a reiteration of its 2017 stance on cryptocurrencies.
The Indian Government has listed a bill which prohibits the use of private cryptocurrency. It has decided to issue its own digital currency - a stablecoin backed by rupee and proposed to ban cryptocurrency. The cryptocurrency ecosystem in India has always been a grey area with no regulations whatsoever. There is no clarity with regards to the possession, trading or dealing of cryptocurrencies...
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...
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...
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...
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...
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...
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...
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...
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 “gray area.” While some countries have defined some regulations for...
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...
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...
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...
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...
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:...
News