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” Celsius bankruptcy proceedings show complexities amid declining hope of recovery “ The Celsius Network is one of many crypto lending firms that has been swept up in the wake of the so-called “crypto contagion.” Rumors of Celsius’ insolvency began circulating in June after the crypto lender was forced to halt withdrawals due to “extreme…
” Biden is hiring 87,000 new IRS agents — and they’re coming for you “ The Inflation Reduction Act, signed into law this month by President Joe Biden, empowers the IRS with nearly $80 billion in new funds. The world’s most powerful tax collection agency is using the money to go on a hiring spree…
” AML and KYC: A catalyst for mainstream crypto adoption “ For Satoshi Nakamoto, the creator of Bitcoin (BTC), the motivation to create a new payment ecosystem from scratch in 2009 stemmed from the economic chaos caused by the banking sector’s over-exuberant and risky lending practices mixed accompanied by the bursting of the housing bubbles…
” US senator blasts SEC for non-judicial actions against crypto companies “ Tom Emmer, the Republican Senator from Minnesota, has become the latest politician to blast the United States Securities and Exchange Commission (SEC) for its unethical actions against crypto companies. Emmer posted a video on Tuesday showing his conversation at the House Committee on…
” Lummis-Gillibrand crypto bill likely deferred to next year “ The major bipartisan crypto bill led by U.S. Senators Cynthia Lummis (Republican) and Kirsten Gillibrand (Democrat) will most likely be deferred to next year according to the duo. Speaking during Bloomberg’s Crypto Summit on July 19, the Senators stated that there is a slim chance that…
” California regulator investigating crypto interest accounts “ The California Department of Financial Protection and Innovation (DFPI) has warned consumers to “exercise extreme caution” when dealing with interest-bearing crypto-asset accounts. The DFPI stated that it is investigating multiple crypto interest account providers to determine whether they are “violating laws under the Department’s jurisdiction.” In a…
” US crypto regulation bill aims to bring greater clarity to DAOs “ On June 7, United States Senators Cynthia Lummis and Kirsten Gillibrand launched the much anticipated Responsible Financial Innovation Act, proposing a comprehensive set of regulations that address some of the biggest questions facing the digital assets sector. By providing holistic guidance to…
” Web3 activists fight for reproductive rights with NFTs, DAOs and protests “ Web3 community members are fighting back against the United States Supreme Court’s ruling to overturn Roe v. Wade. On June 24, 2022, the landmark court case that previously assured the right to have an abortion was overturned, sparking a backlash among reproductive…
” Crypto owners banned from working on US Government crypto policies “ US government officials who privately own cryptocurrencies are now banned from working on regulations and policies that could affect the value of digital assets. A new advisory notice released by the US Office of Government Ethics (OGE) on Tuesday stated that the de…
” US central bank digital currency commenters divided on benefits, unified in confusion “ In January, the United States Federal Reserve Board of Governors released a discussion paper on a potential U.S. central bank digital currency (CBDC) titled “Money and Payments: The U.S. Dollar in the Age of Digital Transformation.” The comment period for the…