Regulation Updates

IRS to summon users who don’t report and pay tax on crypto transactions

The summons requires M.Y. Safra Bank to submit information about taxpayers who failed to report and pay their taxes on crypto. 2872 Total views 201 Total shares With the crypto community growing bigger and as trading volumes reach new highs, the United States is also making more effort to ensure that its Internal Revenue Service […]

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Regulation Updates

Rushing ‘token mapping’ could hurt Aussie crypto space — Finder founder

Australian crypto entrepreneur and investor Fred Schebesta has described the Australian government’s prioritization of token mapping as “wonderful,” but warns that rushing it could lead to detrimental effects on the economy. Schebesta’s comments come after Australian Treasurer Jim Chalmers released a statement on Aug. 22 stating that the “treasury will prioritize token mapping work” in […]

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Regulation Updates

Toss in your job and make $300K working for a DAO? Here’s how – Cointelegraph Magazine

Increasing numbers of employees are quitting 9–5 corporate jobs to work for DAOs. While the money’s great, DAOs fall into a legal gray area, and it can be tricky to get your foot in the door. Researchers Nataliya Ilyushina and Trent MacDonald from the Royal Melbourne Institute of Technology Blockchain Innovation Hub take you through […]

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Regulation Updates

JPMorgan CEO calls crypto 'decentralized Ponzi schemes'

JPMorgan CEO Jamie Dimon regards crypto as a tale of two cities, with “crypto tokens that you call currencies” on one side and “real” innovations on the other. 382 Total views 14 Total shares While testifying before United States (U.S.) lawmakers, JPMorgan Chase CEO Jamie Dimon referred to himself as a “major skeptic” on “crypto […]

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Regulation Updates

Tornado Cash is the latest chapter in the war against encryption

The sanctions imposed by the United States government on Tornado Cash have reignited a public debate on privacy. For many in the relatively young crypto community, such an intervention by the federal government seems groundbreaking. However, tussles between the private sector and the state on the issue of privacy are far from new and can […]

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Regulation Updates

Draft US stablecoin bill would ban new algo stablecoins for 2 years

It’s reported the bills’ definition will cover “endogenously collateralized stablecoins,” which depend on the value of an attached cryptocurrency from the same creator for it to maintain a stable price. 666 Total views 16 Total shares Draft legislation in the United States House of Representatives would place a two-year ban on new algorithmic stablecoins such […]

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Regulation Updates

Crypto insurance market expands with decentralized and centralized options

Insurance is key for financially securing important assets. Yet, the cryptocurrency sector — which is predicted to reach a global market size of $4.94 billion by 2030 — may be lagging behind when it comes to insuring digital assets.  For instance, it’s been noted that less than 1% of all crypto investments are currently insured. […]

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Regulation Updates

P2E gamers, minors not any safer from the tax man, says Koinly

Modern parents are going to need to keep an even closer eye on their kids’ gaming habits, as some of them may be accumulating a hefty tax bill, according to a crypto tax specialist. Speaking to Cointelegraph during last week’s Australian Crypto Convention, Adam Saville-Brown, regional head of tax software firm Koinly said that many […]

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Regulation Updates

British regulator lists FTX crypto exchange as 'unauthorized' firm

The Financial Conduct Authority claims that the company “may be providing financial services or products without authorization.” 2693 Total views 15 Total shares The Financial Conduct Authority (FCA), the chief financial regulator in the United Kingdom, issued a warning to Bahama-based crypto exchange FTX, claiming it operates without authorization. The company joined a growing list […]

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Regulation Updates

US Treasury publishes laundry lists of crypto risks for consumers, national security

The Treasury Department was downbeat on crypto in two publications produced in response to the president’s executive order on digital asset development issued in March. 2067 Total views 15 Total shares The United States Treasury Department released three publications related to digital assets Friday, in response to U.S. President Joe Biden’s Executive rder “Ensuring Responsible […]

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