Bakkt Set to Launch Futures on September 23
Aug16

Bakkt Set to Launch Futures on September 23

Bakkt announced today that it plans to launch its custody services and bitcoin futures products on September 23. In a blog post announcing the news, the company confirmed that the New York State Department of Financial Services has approved its New York trust charter, paving the way for Bakkt to launch its products.

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SEC Delays Bitcoin ETF Decision Until October
Aug13

SEC Delays Bitcoin ETF Decision Until October

The United States Securities and Exchange Commission has announced that it has delayed its decision on rule changes that could permit the Bitwise Bitcoin ETF Trust and VanEck SolidX Bitcoin Trust to begin trading. With the delay, the SEC won’t make a decision about the two funds until October at the earliest, Bloomberg reports.

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Group of Nations to Create System for Cryptocurrency Transaction Data Collection
Aug09

Group of Nations to Create System for Cryptocurrency Transaction Data Collection

A group of roughly 15 nations are reportedly planning to develop a new system that will facilitate collection and sharing of data related to consumers who engage in cryptocurrency transactions, the Nikkei Asian Review reports. The stated objective is to reduce the risk that cryptocurrencies might be used to fund terrorism, launder money, or facilitate other crimes.

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Coinbase Custody Trust Co. Names Two Former NY Banking Regulators to Board of Directors
Aug08

Coinbase Custody Trust Co. Names Two Former NY Banking Regulators to Board of Directors

Coinbase Custody Trust Company has added two former New York banking regulators to its board of directors. In a blog post, dated August 7, the company confirmed that Robert Easton and Richard Neiman were selected for their solid experience in “financial services, public policy and banking operations.”

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Virtual Value Tax Fix Act Referred to House Ways and Means
Aug07

Virtual Value Tax Fix Act Referred to House Ways and Means

North Carolina Republican Representative Ted Budd’s Virtual Value Tax Fix Act of 2019 has been reintroduced in the House of Representatives and referred to the House Committee on Ways and Means. The bill seeks to amend the Internal Revenue Code to “allow exclusion of gain or loss on like-kind exchanges of virtual currency.”

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UN Report: North Korea Has Stolen $2 Billion from Cryptocurrency Exchanges, Financial Institutions
Aug06

UN Report: North Korea Has Stolen $2 Billion from Cryptocurrency Exchanges, Financial Institutions

Security experts have long alleged that the North Korean government has been engaged in cyber theft designed to help fund its missile program, nuclear program, and other regime priorities. According to a new report from a United Nations panel, those attacks have enabled the regime to steal an estimated $2 billion in assets.

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Thailand Official Wants to Amend AML Laws to Address Cryptocurrency
Aug05

Thailand Official Wants to Amend AML Laws to Address Cryptocurrency

At least one official in Thailand wants to amend the country’s Anti-Money Laundering laws to ensure that cryptocurrencies are not used to facilitate crime. According to a report in the BangkokPost today, Thai Anti-Money Laundering Office (AMLO) secretary-general Maj Gen Preecha Charoensahayanon is convinced that money launderers will eventually use digital currencies to further their illicit schemes.

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Iran’s Govt Issues New Rules on Cryptocurrency
Aug04

Iran’s Govt Issues New Rules on Cryptocurrency

The Iranian Cabinet has released a newly-ratified bill that outlines the government’s position on digital assets and establishes conditions for cryptocurrency miners to operate within the country. According to Iranian media outlet PressTV, the government’s official position is that digital currencies are not recognized as legal tender in Iran, and the country’s central bank cannot ensure their value.

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Former Trump Strategist Bannon Disagrees with President on Bitcoin
Aug03

Former Trump Strategist Bannon Disagrees with President on Bitcoin

In July, President Trump responded to Facebook’s Libra cryptocurrency announcement by taking to Twitter to announce that he’s not a fan of Bitcoin or cryptocurrency. Former Trump strategist Steve Bannon recently took the opposite view, suggesting that Bitcoin and other digital currencies could play an important role in the future.

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Huobi Partners with GDF on Development of Cryptocurrency Industry Standards
Jul31

Huobi Partners with GDF on Development of Cryptocurrency Industry Standards

Huobi announced Wednesday that it is partnering with Global Digital Finance (GDF) to “develop best practices and standards within the digital asset community.” The move comes amid increased attention from policymakers around the globe, and continuing concerns about the industry’s lack of regulatory oversight.

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Blockchain Launches High-Speed Exchange
Jul30

Blockchain Launches High-Speed Exchange

Blockchain announced today that is has launched a new cryptocurrency exchange, The PIT, Reuters reports. According to the company, the new exchange relies on a matching engine called “Mercury” to provide trading at speeds faster than other exchanges in the industry today.

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U.S. Seeks Court Judgment Against BTC-e Exchange and Alexander Vinnik
Jul28

U.S. Seeks Court Judgment Against BTC-e Exchange and Alexander Vinnik

The United States filed a complaint this week against the BTC-e cryptocurrency exchange and its alleged operator Alexander Vinnik, seeking to recover civil monetary penalties assessed by the Financial Crimes Enforcement Network (FinCEN) in July 2017.

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IRS Is Sending Warning Letters to 10,000 Cryptocurrency Traders
Jul26

IRS Is Sending Warning Letters to 10,000 Cryptocurrency Traders

The United States Internal Revenue Service announced today that it is now in the process of sending warning letters to more than 10,000 U.S. taxpayers who trade cryptocurrency. The agency revealed that it began sending those letters last week and plans to complete the process by the end of next month, Yahoo Finance reports.

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Survey: 36% of U.S. Investors Interested in Bitcoin
Jul25

Survey: 36% of U.S. Investors Interested in Bitcoin

A new survey from digital currency asset management firm Greyscale Investments found that 36% of retail investors in the United States expressed interest in Bitcoin as an investment. The Bitcoin: 2019 Investment Study was conducted by the Q8 financial market research firm and offered insight into the “profiles and demographics of investors interested in the digital currency.”

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Newegg Now Accepts Bitcoin Payments in 73 Nations
Jul25

Newegg Now Accepts Bitcoin Payments in 73 Nations

California-based tech e-retailer Newegg announced on Wednesday that it will now accept Bitcoin as a payment option in 73 nations. According to the press release announcing the news, customers in “nearly all of the countries the company serves worldwide” can now use Bitcoin in Newegg’s online stores.

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Govt Panel Recommends Private Cryptocurrency Ban in India
Jul23

Govt Panel Recommends Private Cryptocurrency Ban in India

A new report from a government panel in India recommends that the country ban all private digital currencies, Reuters reports. If adopted into law, the panel’s recommendations would not only make such cryptocurrencies illegal in India but would also fine and jail Indians who are caught dealing with them.

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Congressman McHenry: Cryptocurrency is “Unstoppable Force”
Jul19

Congressman McHenry: Cryptocurrency is “Unstoppable Force”

U.S Representative Patrick McHenry (R-NC) told his fellow lawmakers this week that innovations like cryptocurrency are why the United States has such a vibrant economy. McHenry’s remarks came during a hearing on July 17, in which the Congressman referred to the innovative technology as an “unstoppable force.”

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Japan Reportedly Pushing for SWIFT-Like Global Payment Network for Cryptocurrencies
Jul18

Japan Reportedly Pushing for SWIFT-Like Global Payment Network for Cryptocurrencies

Japanese officials reportedly want to develop an international payment system for digital currencies that would be similar to the global SWIFT network currently used by the world’s financial institutions, Reuters reported on Thursday.

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Prominent Crypto Advocates Say Trump’s Criticism of Cryptocurrency is a Positive
Jul12

Prominent Crypto Advocates Say Trump’s Criticism of Cryptocurrency is a Positive

While some cryptocurrency fans may have been dismayed to see U.S. President Donald Trump criticize Bitcoin and other cryptocurrencies yesterday, leading advocates like Coinbase CEO Brian Armstrong and Fundstrat’s Tom Lee appear to disagree. Both men highlighted the benefits of having one of the world’s most high-profile personalities talking about the technology.

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Congressman Emmer Reintroduces Digital Asset Safe Harbor Bill
Jul10

Congressman Emmer Reintroduces Digital Asset Safe Harbor Bill

On Tuesday, Congressman Tom Emmer reintroduced cryptocurrency legislation that would provide safe harbor protection for taxpayers with digital assets, until the Internal Revenue Service provides more clarity on reporting gains and losses from digital currency forks.

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