WEF Announces Global Consortium for Digital Asset Governance
Jan27

WEF Announces Global Consortium for Digital Asset Governance

That World Economic Forum has announced the creation of a global consortium to develop a governance framework for digital assets. In a press release on Friday, the WEF said that the Global Consortium for Digital Currency Governance will work on creating interoperable, inclusive policy solutions to help make the financial system more inclusive.

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Hawaii Bill Would Allow State’s Banks to Provide Crypto Custody
Jan25

Hawaii Bill Would Allow State’s Banks to Provide Crypto Custody

Hawaii’s Senate is now considering a new bill that would allow the state’s banks to provide digital asset custody services. The bill was introduced a week ago, received its first reading on January 21, and has now been referred to two committees: Consumer Protection and Health, and Judiciary and Commerce.

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H&R Block Reminds Customers to Report Crypto Dealings to IRS
Jan24

H&R Block Reminds Customers to Report Crypto Dealings to IRS

With tax season almost here, tax preparation service H&R Block is advising its customers to accurately report their crypto dealings when they file their returns. As Yahoo Finance reports, those customers should be aware that the IRS is explicitly asking about crypto asset activities for the first time.

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Greek Council of State Upholds Justice Minister’s Decision on Vinnik Extradition
Jan23

Greek Council of State Upholds Justice Minister’s Decision on Vinnik Extradition

Alleged Bitcoin fraudster Alexander Vinnik’s attempt to annul a recent extradition order has failed, according to the Greek Reporter. The Greek Council of State has ruled that Minister of Justice Constantinos Tsiaras had the authority and discretion to order Vinnik’s extradition to France.

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HSB Survey: 36% of U.S. Small & Medium-Sized Businesses Accept Cryptocurrency
Jan22

HSB Survey: 36% of U.S. Small & Medium-Sized Businesses Accept Cryptocurrency

A recent HSB survey of small and medium-sized enterprises across the United States found that 36 percent of those businesses now accept cryptocurrency payments for their goods and services. In a press release, HSB also confirmed that 59 percent of respondent companies said that they’ve even purchased cryptocurrency.

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UK Contract Seeks Software to Track Cryptocurrency Use
Jan20

UK Contract Seeks Software to Track Cryptocurrency Use

The UK has opened a new contract seeking proposals for a software tool that can track Bitcoin and other major cryptocurrencies that might be used for illicit purposes. According to a report from The Next Web, HM Revenue and Customs plans to prioritize bids from developers who offer tools that can also track the use of Dash, Zcash, and Monero.

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SEC Announces Charges in Fraudulent ICO Scheme
Jan17

SEC Announces Charges in Fraudulent ICO Scheme

The Securities and Exchange Commission (SEC) today announced charges against two individuals and two businesses accused of conducting a fraudulent initial coin offering (ICO). According to the SEC complaint, one of the defendants, convicted felon Boaz Manor, used a disguise and alias to conceal his identity.

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Virtual Currency Tax Fairness Act of 2020 Introduced in U.S. House
Jan16

Virtual Currency Tax Fairness Act of 2020 Introduced in U.S. House

U.S. Representative Suzan DelBene (D-WA) introduced the Virtual Currency Tax Fairness Act of 2020 in the House of Representatives today, digital asset advocacy group Coin Center reports. The bill is a revised version of a 2017 proposal and would create a de minimis tax exemption for small cryptocurrency transactions.

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Coinbase Settles Class Action Suit from Former Cryptsy Users
Jan13

Coinbase Settles Class Action Suit from Former Cryptsy Users

Cryptocurrency exchange giant Coinbase has reportedly agreed to settle a class action lawsuit brought by former users of the now-defunct Cryptsy exchange, Coindesk reported today. Court documents suggest that the exchange will settle the suit with a $962,500 transfer to an escrow agent charged with handling claims.

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Japan’s FSA to Place Limits on Leverage in Cryptocurrency Margin Trading
Jan12

Japan’s FSA to Place Limits on Leverage in Cryptocurrency Margin Trading

Japan’s Financial Services Agency intends to implement a new rule that would place limits on leverage in digital asset margin trading, The Japan Times reports. The Times’ sources confirmed that the rule will be inserted in the language of a new Cabinet Office order related to changes in the country’s Financial Instruments and Exchange Act.

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South Korean Presidential Committee Urges Institutional Acceptance of Digital Assets
Jan10

South Korean Presidential Committee Urges Institutional Acceptance of Digital Assets

In South Korea, the Presidential Committee on the Fourth Industrial Revolution (PCFIR) has come out in support of institutional acceptance of digital assets, urging the government to permit the financial industry to launch crypto-derivatives and other cryptocurrency products, local news outlet Business Korea reports.

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Qatar Announces Ban on Digital Asset Services
Jan07

Qatar Announces Ban on Digital Asset Services

The Qatar Financial Centre Regulatory Authority has announced a ban on all virtual asset services, International Investment reports. The ban will reportedly cover all digital asset trading, transfers, payments, and investments, except digital securities and other instruments regulated by the nation’s central bank or Financial Markets Authority.

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Caracas Burger King Reportedly Accepting Cryptocurrency Payments
Jan04

Caracas Burger King Reportedly Accepting Cryptocurrency Payments

While Venezuela’s government remains focused on its Petro digital currency project, one fast-food restaurant in the Sambil area of Caracas is reportedly now accepting other types of cryptocurrency payments. According to a recent twitter announcement, payment platform Cryptobuyer has partnered with Burger King Venezuela to enable customers to pay using bitcoin, dash, litecoin, ethereum, BNB, and tether.

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Chinese Regulators Issue New Warning about Cryptocurrency Trading
Dec28

Chinese Regulators Issue New Warning about Cryptocurrency Trading

In response to new concerns about rising interest in cryptocurrencies, Chinese regulators have issued yet another warning to remind citizens not to engage in cryptocurrency-related activities. That warning, titled Risk Tips on Further Preventing ‘Virtual Currency’ Trading Activities, noted that any activities that violate China’s restrictions on cryptocurrency use are illegal and disrupt the country’s “economic and financial order.”

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Greek Admin Court Blocks Decision to Extradite Vinnik to France
Dec26

Greek Admin Court Blocks Decision to Extradite Vinnik to France

Another Greek court has weighed in on the seemingly never-ending saga of accused Bitcoin fraudster Alexander Vinnik, Reuters reports. Early this week, the nation’s top administrative court issued a ruling that suspended last week’s ministerial decision to give priority to French requests for Vinnik’s extradition.

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Man Accused of Stealing $1 Million in Cryptocurrency Using SIM-Card Scheme
Dec19

Man Accused of Stealing $1 Million in Cryptocurrency Using SIM-Card Scheme

A Brooklyn man has been charged by Manhattan authorities with 87 counts of identity theft, grand larceny, and other criminal activities, the New York Post reports. The charges stem from an alleged SIM-card scheme that involved hijacking access to more than a dozen people’s phones across 20 states from January 20 to May 19, 2019.

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Fed’s Brainard Highlights Digital Currency Risks
Dec19

Fed’s Brainard Highlights Digital Currency Risks

In remarks celebrating European Central Bank executive board member Benoît Coeuré, Federal Reserve Governor Lael Brainard focused on the risks associated with digital currency and stablecoins. Brainard was part of a panel focused on future monetary policy challenges.

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New Report Highlights Female Investor Interest in Bitcoin
Dec15

New Report Highlights Female Investor Interest in Bitcoin

A new report from Bitcoin fund management firm Grayscale indicates that the digital currency gender gap may not be as wide as many have assumed. The report was based on a survey of 1,100 American investors, and discovered that women share many of the same views as their male counterparts when it comes to Bitcoin as an investment.

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IRS Criminal Investigation Division to Increase Focus on Crypto Tax Cases
Dec06

IRS Criminal Investigation Division to Increase Focus on Crypto Tax Cases

The Internal Revenue Service Criminal Investigation division released its annual report on Thursday, revealing that it is continuing to prioritize cybercrime, employment tax concerns, and cryptocurrency tax-related issues, Accounting Today reports. The division reported that it had identified a total of $1.8 billion of tax fraud so far this year and has successfully prosecuted 91.2 percent of its financial crime cases.

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GA Governor Appoints Pro-Crypto Loeffler to Fill Senate Seat
Dec05

GA Governor Appoints Pro-Crypto Loeffler to Fill Senate Seat

Georgia Governor Brian Kemp named Bakkt CEO Kelly Loeffler to replace retiring GA Senator Johnny Isakson, who plans to step down from office at the end of the year for health reasons. Loeffler, 49, is expected to bring a decidedly pro-cryptocurrency voice to the U.S. Senate, having served as Intercontinental Exchange’s (ICE) digital asset head prior to taking on the leadership role at Bakkt.

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