The US Congress has introduced a new bipartisan bill named the “Virtual Currency Tax Fairness Act,” which essentially exempts small crypto transactions from taxation. The bill was sponsored by Senators Pat Toomey (R-Pennsylvania) and Kyrsten Sinema (D-Arizona). An announcement from the US Senate Committee on Banking, Housing, and Urban Affairs, explained that the bill aims […]
In another bout of regulatory scrutiny, the US Securities and Exchange Commission (SEC) has accused Coinbase of listing nine crypto asset securities. The regulatory watchdog also accused a former Coinbase employee of “violating the antifraud provisions of the securities laws” on insider trading. The Commission published its complaint on Thursday, where it listed nine crypto […]
Nasdaq-listed behemoth cryptocurrency exchange Coinbase has cleared the air on its financing links to some troubled crypto companies via a blog post on Wednesday. The post is by top Coinbase executives, including Brett Tejpaul, head of Coinbase Institutional, Matt Boyd, head of Prime Finance, and Caroline Tarnok, head of Credit and Market Risk. Coinbase Throws […]
Chief executive of the Financial Conduct Authority (FCA), Nikhil Rathi, outlined his agency’s regulatory goals, making mention of cryptocurrency, last Wednesday at Peterson Institute for International Economics. Rathi noted that “one area of global focus is crypto, both opportunities, and risks,” further explaining: “Currently, our remit is limited to anti-money laundering rules for platforms. We […]
Chair of the European Securities and Markets Authority (ESMA), Verena Ross, recently cautioned investors against investing in the cryptocurrency industry after the market shed over 70% in the ongoing crash. Warning that the possibility of a European bailout for struggling crypto investors was out of the picture, Ross noted: “We already warned earlier this year […]
Global financial regulator Financial Stability Board (FSB) released a statement yesterday on the “international regulation and supervision of crypto asset activities.” The G20 regulatory agency explained that it remained committed to promoting “international consistency of regulatory and supervisory approaches amongst national authorities and international standard-setters as they work towards developing risk-based, technology-neutral policy for the […]
Last Thursday, the US Treasury Department published a fact sheet titled “Framework for International Engagement on Digital Assets,” a follow-up on President Biden’s executive order on crypto regulation. The fact sheet narrated that the Secretary of the Treasury, Janet Yellen, has delivered “a framework for interagency engagement with foreign counterparts and in international fora as […]
US Securities and Exchange Commission (SEC) Chairman Gary Gensler believes that cryptocurrency regulation should have “one rule book,” according to a report from the Financial Times last week. Gensler hopes to reach an agreement with the Commodity Futures Trading Commission (CFTC) to create synergy in regulation and avoid gaps in oversight. The SEC boss asserted: […]
New reports coming out of the Islamic Republic of Iran show that cryptocurrency mining enterprises in the jurisdiction have to disconnect their mining equipment from the national power supply from today. The latest information came from Tehran Times, a local news agency, quoting the spokesman of the Ministry of Energy, Mostafa Rajabi Mashhadi. Mashhadi explained […]
