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“#Merkel calls Trump’s Twitter ban ‘problematic’” German Chancellor Angela Merkel believes Twitter‘s ban of US President Donald Trump is “problematic” because rules around free speech should be set by lawmakers rather than tech firms, her spokesman said on Monday. Spokesperson Steffen Seibert agreed with Twitter‘s decision to flag Trump’s tweets, as social network operators have to prevent their…
“# Seven times that US regulators stepped into crypto in 2020 ” As digital assets made strides toward mainstream status in 2020, the guardians of the incumbent financial system have been working hard to minimize disruption caused by their integration. In the U.S., regulatory and law enforcement interventions throughout the year have left some projects…
“# IMVU’s new blockchain-backed stablecoin goes live ” IMVU’s new fiat-convertible VCOIN goes live on the social network. Per a Jan. 12 company announcement shared with Cointelegraph, VCOIN is available for users of IMVU, starting today. IMVU already hosts over 27 million transactions a month using its non-blockchain-backed credits. VCOIN aims to give users involved…
“# Law Decoded: Insurrections, transitions, monitoring transactions and 2021, Jan. 1–8 ” Every Friday, Law Decoded delivers analysis on the week’s critical stories in the realms of policy, regulation and law. Editor’s note January takes its name from Janus, the god of transitions and the guardian or the gates of Rome, looking always forward and…
“# Judge reverses own ‘mistaken’ dismissal of Overstock lawsuit ” A Utah federal judge has reversed his own dismissal of a class-action lawsuit against online retailer Overstock that alleges it manipulated the market by issuing a security token “Digital Dividend” to shareholders last year. On Jan. 6, Judge Kimball reversed his previous decision to dismiss…
“# Ripple CEO answers 5 key questions about the SEC lawsuit ” Ripple CEO Brad Garlinghouse has revealed the firm unsuccessfully attempted to settle its securities violation lawsuit with the SEC, and slammed the “regulatory chaos” around cryptocurrencies. I’m not going to litigate the SEC’s unproven allegations on Twitter, and as you can imagine, there…
“# Following Brexit, the UK asks crypto industry about rules for cross-border stablecoins ” Her Majesty’s Treasury requests and requires the crypto industry’s input on prospective regulation. In a Jan. 7 announcement of open consultation, the United Kingdom’s finance policy department is asking the crypto community to weigh in on a series of proposals: “The government…
“# Social networks and the digital economy: A preview of IMVU’s VCOIN ” When the Securities and Exchange Commission gave its blessing to social media platform IMVU to launch VCOIN, it was a major leap forward for acceptable scope of crypto applications. The implications for what sorts of projects the SEC considers a security are,…
“# US crypto firms invest in tax solutions as IRS updates reporting forms ” United States regulators are continuing to fine-tune their tax reporting requirements for cryptocurrency users. A second draft of Form 1040 from the Internal Revenue Service for the 2020 tax season published online suggests that the agency will now require anyone who was…
“# ‘Two cops on the beat’: Regulator wants sole authority to charter fintech firms ” Brian Brooks, the acting head of the U.S. Office of the Comptroller of the Currency and former chief legal officer to Coinbase, has warned against the Consumer Financial Protection Bureau receiving the right to grant “Fintech Charters.” Earlier this week,…