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“# US SEC wants to work with Congress to regulate crypto exchanges ” The United States Securities and Exchange Commission is looking to cooperate with Congress and other regulators to increase its oversight of cryptocurrency exchanges. Gary Gensler, the newly appointed chairman of the SEC, said that the commission is looking forward to working with…
“# Restricting crypto trading to millionaires good for Hong Kong, says official ” Christopher Hui, Hong Kong’s Secretary for Financial Services and the Treasury has defended the recent proposal by the city’s Financial Services and the Treasury Bureau to ban retail crypto trading. In a speech delivered at StartmeupHK virtual fintech summit on Thursday, Hui…
“# Crypto couple tells court the IRS has no right to tax newly mined coins ” A couple investing in crypto have claimed that coins gained by mining or staking are not taxable until sold, in a complaint filed to federal court. The Tennessee couple are seeking a refund from the Internal Revenue Service (IRS)…
“# China to socially blacklist Bitcoin miners in Inner Mongolia region ” China has ramped up efforts to quash cryptocurrency mining in its Inner Mongolia region by introducing new penalties for those caught engaging in the illegal activity. Officials unveiled new draft rules which would see harsher punishments applied to those caught mining Bitcoin (BTC)…
“# Canadian regulators accuse crypto exchange of breaking securities law ” Canadian securities regulators have initiated a regulatory action against major global cryptocurrency exchange Poloniex. On Tuesday, the Ontario Securities Commission published a statement of allegations against Polo Digital Assets, also known as Poloniex, alleging that the firm has failed to comply with Ontario securities laws….
“# Bitcoin mining banned in Iran until September ” The recent crackdown on Bitcoin (BTC) and crypto mining in Iran has reached a new dimension with the government banning the activity over the summer. According to a report by Bloomberg, President Hassan Rouhani announced the blanket ban on Bitcoin mining in the country in an…
“# Nebraska signs law to authorize state-chartered banks to custody crypto ” A crypto-friendly bill — co-authored by a cryptocurrency firm and first introduced by Republican state senator Mike Flood this January — was signed into law today in Nebraska. The Nebraska Financial Innovation Act was one of Senator Flood’s first initiatives, introduced scarcely two weeks…
“# Banks cautious about crypto ahead of COVID-19 testimony before US Senate ” Major Wall Street bank executives will appear before the United States Senate Banking Committee on Wednesday to discuss the role of their financial institutions in the recovery of the American economy. Democratic lawmakers plan to grill a number of major bank execs,…
“# Korea’s crypto market is among the strongest — and the strangest — in the world ” On a day in which Bitcoin crashed briefly to $30,000 in a rampant bear market, the leading cryptocurrency never got anywhere close to that on Korean exchanges. The so-called “kimchi premium” saw to that, keeping the price of…
“# Biden administration is reportedly reviewing ‘gaps’ in crypto regulation ” Officials within the Biden administration are reportedly studying “gaps” in cryptocurrency regulations following the latest bout of volatility in the market, sending a signal that new rules could soon be proposed. People familiar with the matter informed The Washington Post that White House officials…