# Binance cuts withdrawal limits, rolls out tax reporting tool

# Binance cuts withdrawal limits, rolls out tax reporting tool

“# Binance cuts withdrawal limits, rolls out tax reporting tool ” Binance, the world’s biggest cryptocurrency exchange by trading volumes, continues its efforts to maintain dialogue with global regulators by introducing withdrawal limits and a new tax reporting system. The company officially announced Tuesday a major update to its Know Your Customer (KYC) policies, significantly…

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# Regulators scrutinizing Tether’s commercial paper reserves: Comptroller of the Currency

# Regulators scrutinizing Tether’s commercial paper reserves: Comptroller of the Currency

“# Regulators scrutinizing Tether’s commercial paper reserves: Comptroller of the Currency ” The firm behind the world’s leading stablecoin, Tether, is facing more regulatory pressure this week with U.S. financial watchdogs scrutinizing the composition of its reserves. According to a July 27 Bloomberg report the Acting Comptroller of the Currency Michael Hsu said regulators are…

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# Sen. Warren urges Treasury Secretary Yellen to combat rising crypto threats

# Sen. Warren urges Treasury Secretary Yellen to combat rising crypto threats

“# Sen. Warren urges Treasury Secretary Yellen to combat rising crypto threats ” Senator Elizabeth Warren, a Democrat from Massachusetts, has called on United States Treasury Secretary Janet Yellen and other regulators to develop a “comprehensive and coordinated” framework for addressing risks in the cryptocurrency market.  In a letter addressed to Yellen, the Democratic senator…

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# Pennsylvania legislature mulls crypto task force bill

# Pennsylvania legislature mulls crypto task force bill

“# Pennsylvania legislature mulls crypto task force bill ” A bill to establish a crypto task force in Pennsylvania has been introduced in the state’s General Assembly. According to the details of HB1724 published by LegiScan, the proposed crypto task force will be mandated to examine the potential impact of widespread crypto and digital currency…

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# Huobi winds down former exchange operator in China

# Huobi winds down former exchange operator in China

“# Huobi winds down former exchange operator in China ” Stakeholders in the Chinese firm that was founded to operate cryptocurrency exchange Huobi have resolved to dissolve the entity, according to publicly available records. The firm, Beijing Huobi Tianxia Network Technology Ltd., was established in late 2013 and is 70.52% owned by Li Lin, the…

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# Kazakhstan to reportedly allow banks to process crypto purchases

# Kazakhstan to reportedly allow banks to process crypto purchases

“# Kazakhstan to reportedly allow banks to process crypto purchases ” The Kazakhstan government is reportedly planning to officially authorize local banking institutions to open bank accounts for cryptocurrency transactions. Several banks in Kazakhstan will soon be officially approved to service companies and businesses providing exposure to cryptocurrencies like Bitcoin (BTC), local news channel Khabar…

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# IMF issues veiled warning against El Salvador’s Bitcoin law

# IMF issues veiled warning against El Salvador’s Bitcoin law

“# IMF issues veiled warning against El Salvador’s Bitcoin law ” The International Monetary Fund is warning that some of the consequences of a country adopting Bitcoin as a national currency “could be dire.” According to IMF marketing department financial counsellor and director Tobias Adrian and legal department general counsel and director Rhoda Weeks-Brown, a…

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