The FCA in the UK is to decide whether to ban crypto derivatives for retail investors or not. The UK government has come to the conclusion that it is time for the regulator to decide the fate of the crypto product. According to press, on the 21st of October, the Economic Secretary to the Treasury,…
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Libra, having faced extreme scrutiny from regulators, has reportedly decided to turn its sight to a more regulatory-friendly zone: national currencies. Reuters reported on Sunday that Facebook is currently considering pegging the Libra cryptocurrencies to national ones. One option is the dollar. The main goal of Facebook is to develop a more efficient payments system.…
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When the G20 approved the recommendations of the Financial Action Task Force (FATF) back in late June, the group imposed a one-year deadline for local regulators to adopt new rules and regulations regarding implementation and compliance. The rules themselves have no explicit penalty provisions, but crypto exchanges are already four months into the process and…
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The Internal Revenue Service (IRS), the tax collection agency in the United States, is three months into its crackdown on taxpayers that may have forgotten to report their crypto related transactions back in April. Up to now, they have furnished an assortment of educational materials and telephone “hot-line” support, but, in their infinite wisdom, the…
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Late evening shocker on the financial airways – The SEC rejects the Bitwise Bitcoin ETF proposal, well before Monday’s deadline decision date. Reporters on the late shift suddenly went into high gear, filling nearly every news channel with the shocking news. Matt Hougan, Bitwise's Head of Research, had just told everyone that, “We're closer than…
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SEC, in surprise move, rejects the Bitwise BTC ETF proposal before the mandated deadline. According to Cointelegraph and Coinbase, the SEC hurriedly put out a press release after hours on Wednesday to announce its negative decision. The regulator cited that the Bitwise proposal was not “designed to prevent fraudulent and manipulative acts and practices”. The…
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Yoni Assia, the CEO and co-founder of eToro, a social trading and multi asset brokerage company, made a recent appearance on Charlie Shrem’s podcast, Untold Stories. During his interview, he expressed two general concerns. The first had to do with the world’s need for a publicly accessible digital currency, which would be fully transparent and…
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There’s gold in them thar hills, or so say-ith the Australian Taxation Office (ATO) and most other major taxing jurisdictions across the globe. After years of lenient auditing practices with regard to crypto tax collection, officials have suddenly realized that there could be enormous payoffs, ripe for the picking, for only investing a few million…
Read moreWhile the SEC is pondering whether to grant the existence of a Bitcoin ETF, it is not wasting time in charging the cryptocurrency industry, where appropriate. The financial regulator has fined the blockchain company Block.one for unregistered ICO. The fine was $24 million. According to the SEC, the ICO raised billions of dollars in digital…
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The Trump Administration's policy decisions are taking a toll on a number of countries: from China to Argentina, governments are thinking of new, "innovative" ways to fight the economic sanctions imposed by President Trump and his office. North Korea is one of those countries. The latest news is that the country is currently working towards…
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