Chinese cabinet officials rescind previous threat to ban mining operations LeapRate

November 11, 2019 BY Valentina Kirilova

Chinese cabinet officials rescind previous threat to ban mining operations

The need to plan the affairs of state for China has always been a challenge. Feeding nearly 1.4 billion people and coordinating the world’s largest manufacturing industrial complex, when scant resources are available domestically, requires a long-range plan. One agency, the National Development and Reform Commission (NDRC), is one of 26 cabinet departments that is…

Torstone Technology expands its London headquarters

October 24, 2019 BY Mariela Naydenova

FCA to decide the fate of crypto derivatives in the UK

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,…

October 22, 2019 BY Mariela Naydenova

Libra to peg cryptocurrencies to national currencies?

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.…

October 16, 2019 BY Valentina Kirilova

Crypto exchanges struggling with FATF AML regulations – 8 months to go

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…

October 15, 2019 BY Valentina Kirilova

U.S. IRS publishes new crypto tax guidelines for forks, income, and gains

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…

October 10, 2019 BY Valentina Kirilova

Updated: The SEC rejects the Bitwise Bitcoin ETF proposal

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…

October 10, 2019 BY Valentina Kirilova

SEC rejects the Bitwise BTC ETF proposal before the mandated deadline

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…

October 07, 2019 BY Valentina Kirilova

CEO of eToro has concerns about regulatory slowness in crypto adoption

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…

October 07, 2019 BY Valentina Kirilova

Australian taxing authorities planning a major crackdown on crypto taxes

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…

October 02, 2019 BY Mariela Naydenova

SEC fines Block.one with $24 million for unregistered ICO

While 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…

Category: Regulation