FBI Suspects Insider Trading Over Long Blockchain The blockchain and crypto industry was undoubtedly weird in 2017. Back then, “entrepreneurs” and “investors” were trying anything to make a quick buck, even if it meant proverbially sacrificing their soul to the Bitcoin devil. One case saw the then Long Island Iced...
The U.S. Internal Revenue Service (IRS) has requested that taxpayers begin reporting any capital gains made on transactions involving cryptocurrencies. On July 26, 2019, the American tax collection agency revealed it has begun sending notices to cryptocurrency holders, requesting that they pay all taxes they might owe or file updated...
Ripple Doesn’t Want to Get Caught in Libra Crossfire Since Libra was unveiled, everyone and anyone have commented on it. Most recently, Ripple’s chief executive, Brad Garlinghouse, joined in, telling Fortune on Thursday what his thoughts are on the Facebook-backed cryptocurrency. Simply put, Garlinghouse is worried — worried about how...
Don’t Paint Crypto with a Broad Brush, Says Ripple Execs The C-Suite at Ripple Labs isn’t all too pleased with what’s going on with crypto regulation. Brad Garlinghouse, the chief executive of the fintech startup, and co-founder Chris Larsen were so concerned that they both penned an “Open Letter to...
Members of the U.S. Senate Banking Committee will be discussing various approaches to regulating cryptocurrencies on July 30, 2019. Jeremy Allaire, CEO of Circle Internet Financial, a firm focused on digital assets and blockchain technology, is expected to testify as a representative of the Blockchain Association. Mehrsa Baradaran, professor at...
You may not know it, but Singapore has a budding cryptocurrency sector. In fact, the wealthy city-state has gone as far as to invest in Binance through its sovereign wealth fund, back blockchain incubator and media outlet Longhash, and propose a specific tax exemption for digital assets. Singapore, a Crypto...
Last week it was in the US, this week it is the turn of UK regulators to scrutinize cryptocurrency and their findings, as expected, are not favorable. The UK’s financial services watchdog has reissued warnings on crypto assets echoing the same tired arguments we have all heard before. No Intrinsic...
Cryptocurrency traders located in Brazil will be required to report their transactions to the country’s National Treasury. Brazil’s Department of Federal Revenue reeased guidelines in May 2019 regarding crypto-related transactions. The agency noted that digital asset transfers of $30,000 Brazilian real (appr. $7,600) or more must be reported to the...
Decentralized digital currencies are not considered legal tender and transactions involving them are not officially recognized by the nation’s authorities, according to Iranian news outlet PressTV. Local Crypto Trading Not Recognized By Government On August 4, 2019, the Cabinet of Iran ratified and issued a new bill clarifying that the...
Kik has filed a report today containing a point-by-point rebuttal of the US Securities and Exchange Commission (SEC)’s arguments, vehemently denying the core allegation that the company orchestrated an unregistered securities offering. Kik recently released the cryptocurrency known as Kin in 2017, with a stated goal of creating a platform...
The Bureau of Securities in New Jersey recently alleged that tokens Zoptax and Unocall are fraudulent, unregistered securities offerings. The Bureau issued stop orders to both companies, demanding that they stop their ICOs immediately. The orders were announced in a press release by the office of the Attorney-General of New...
Banks within Israel have continued to be uncooperative with cryptocurrency as traders report an inability to deposit profits. Israeli media firm Haaretz reports that approximately $86 million in unpaid taxes resulting from cryptocurrency earnings have amassed due to the banks’ stubborn refusal to accept deposits. As investigated by Haaretz, the...
