Genesis Reports $1.5 Billion in Crypto Lending Since 2018 Launch
Apr25

Genesis Reports $1.5 Billion in Crypto Lending Since 2018 Launch

U.S. cryptocurrency firm Genesis Global Trading has confirmed that its lending business has issued $1.53 billion in digital currency loans to institutional borrowers since its launch last March, Reuters reports. In a report published online, the company said that lending was dominated by Bitcoin, which represents 68 percent of its loan portfolio.

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Japan Has Crypto Regulation Handbook Ready for Members at Next G20 Summit
Apr24

Japan Has Crypto Regulation Handbook Ready for Members at Next G20 Summit

Japanese officials have reportedly prepared a handbook offering guidance on cryptocurrency regulation, and plan to share that advice with central bankers and finance ministers attending the next G20 summit, according to a report from Finance Magnates and local media outlet Sankeibiz. That summit will be held in Osaka, Japan at the end of June.

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Report: Japan’s FSA Raided Two Crypto Exchanges Last Week
Apr23

Report: Japan’s FSA Raided Two Crypto Exchanges Last Week

The Japanese Financial Services Agency (FSA) reportedly raided two of the nation’s cryptocurrency exchanges last week, according to two sources cited in a Reuters report published on Tuesday. The regulatory body apparently executed the surprise inspections to investigate issues related to anti-money laundering and customer safeguards.

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Chile’s Finance Minister Announces Crypto Regulation Bill
Apr21

Chile’s Finance Minister Announces Crypto Regulation Bill

Chilean Minister of Finance Felipe Larraín announced this week that the government has sent Chile’s Congress a legislative bill that will provide regulation for fintech and cryptocurrencies. Larraín made the announcement during a visit in the United States, and emphasized the government’s cautious and flexible approach to regulating the space:

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FinCEN Announces Penalties for Crypto Trader Accused of Violating AML Rules
Apr20

FinCEN Announces Penalties for Crypto Trader Accused of Violating AML Rules

The Financial Crimes Enforcement Network (FinCEN) announced this week that it has penalized an individual cryptocurrency trader for alleged violations of the Bank Secrecy Act (BSA). That trader, California resident Eric Powers, reportedly failed to properly register as a money services business, take the necessary steps needed to comply with the Act’s provisions, or properly report suspicious transactions.

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Coinbase Expands Crypto-to-Crypto Support to Eleven Additional Countries
Apr19

Coinbase Expands Crypto-to-Crypto Support to Eleven Additional Countries

Coinbase announced this week that it is expanding its customer base by providing crypto-to-crypto services to an additional 11 countries from Latin America and Southeast Asia. In its blog announcement, the company noted that it will now serve customers in a total of 53 countries on four continents.

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Security Experts: Southeast Asia Crypto Sector Vulnerable to North Korean Cyberattacks
Apr16

Security Experts: Southeast Asia Crypto Sector Vulnerable to North Korean Cyberattacks

Amid ongoing concerns about North Korean attempts to evade international sanctions, security experts are warning that the growing cryptocurrency industry in Southeast Asia could be particularly vulnerable to the regime’s cybercrime activities.

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Lawmakers Pen Letter Urging IRS to Clarify Crypto Guidance
Apr13

Lawmakers Pen Letter Urging IRS to Clarify Crypto Guidance

A bipartisan group of U.S. lawmakers have drafted a letter to IRS Commissioner Charles P. Rettig, urging his agency to issue more detailed tax and reporting guidance for taxpayers who use digital currencies. The letter’s 21 co-signers included the co-chairs of the Congressional Blockchain Caucus.

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Coinbase Launches Coinbase Card for UK Customers
Apr11

Coinbase Launches Coinbase Card for UK Customers

Cryptocurrency exchange Coinbase has launched Coinbase Card for its customers in the United Kingdom, according to a blog post on the company’s site on Wednesday. The new Visa card will enable those customers to use their Coinbase cryptocurrency balances to make payments in-store and online, just as they would with any other traditional debit card.

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China Proposes Rules that Would Ban Crypto Mining
Apr09

China Proposes Rules that Would Ban Crypto Mining

Chinese officials have formally proposed sweeping new rules that would end cryptocurrency mining in the country, the South China Morning Post reported on Tuesday. The proposal is part of a series of amendments to the National Development and Reform Commission’s guidance for adjusting the country’s industrial structure.

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South Korean Lawmakers Call for Easing Blockchain and Crypto Regulation
Apr08

South Korean Lawmakers Call for Easing Blockchain and Crypto Regulation

Despite the South Korean government’s stated commitment to deregulation, a bipartisan group of lawmakers are calling for that deregulatory agenda to be expanded to the cryptocurrency and blockchain space as well, the Korea Herald reported on April 7.

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Belgium’s FSMA Adds to List of Suspicious Crypto Platform Sites
Apr06

Belgium’s FSMA Adds to List of Suspicious Crypto Platform Sites

Belgium’s Financial Services and Markets Authority (FSMA) recently added another 7 websites to its list of suspicious cryptocurrency sites. The list now includes a total of 120 websites identified by the FSMA as potential scams designed to defraud investors.

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RAND Report: ‘Little to No Evidence” Terrorists are Using Cryptocurrencies
Apr04

RAND Report: ‘Little to No Evidence” Terrorists are Using Cryptocurrencies

A recent RAND Corporation report suggests that it is unlikely that terrorists are using cryptocurrencies to fund their activities. RAND’s analysis of the issue identified six cryptocurrency properties that necessarily limit their use by these organizations, including anonymity, usability, security, acceptance, reliability, and volume.

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Malta Approves First 14 VFA Agents
Apr02

Malta Approves First 14 VFA Agents

The Malta Financial Services Authority announced in a statement today that it has approved 14 Virtual Financial Asset (VFA) Agents. The approvals are part of a broader effort by Malta to provide regulation for the crypto asset space. According to the statement from the MFSA:

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Pakistani Govt Announces Crypto Regulations
Apr01

Pakistani Govt Announces Crypto Regulations

The government of Pakistan will announce on Monday that it is introducing new cryptocurrency regulations, the Express Tribune reports. The new Electronic Money Institutions regulations are being introduced as part of a broader action plan developed in response to recommendations from the country’s Financial Action Task Force (FATF)

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Ontario Town to Accept Bitcoin for Property Tax Payments
Mar31

Ontario Town to Accept Bitcoin for Property Tax Payments

The Town of Innisfil, Ontario announced in a press release this week that residents will be able to pay their municipal property taxes using Bitcoin. The city council approved the decision in a vote Wednesday night, and the new crypto payment option is expected to be available in April.

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SEC Delays Decision on Proposed Bitwise ETF
Mar30

SEC Delays Decision on Proposed Bitwise ETF

The U.S. Securities and Exchange Commission this week announced a delay in its decision on a proposed rule change that would allow Bitcoin exchange-traded funds to be listed. The decision means that the SEC now has until May 16 to approve or deny the change:

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CoinMarketCap Vows to Address Fake Volume Reports with New Listing Metrics
Mar26

CoinMarketCap Vows to Address Fake Volume Reports with New Listing Metrics

In the wake of the recent Bitwise report alleging massive fake trade volume reporting at many cryptocurrency exchanges, crypto market data aggregator CoinMarketCap is reportedly taking steps to address the problem. The company has acknowledged the concerns and vowed to add additional information to its listed metrics to provide investors with even greater transparency, Bloomberg reports.

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LocalBitcoins to Be Subject to Regulation by Finland’s FSA
Mar25

LocalBitcoins to Be Subject to Regulation by Finland’s FSA

In a blog post published today, peer-to-peer digital currency trading firm LocalBitcoins announced that it will soon be subject to regulation by Finland’s Financial Supervisory Authority. The company confirmed that it is working to ensure that its services will be in full compliance with Finnish regulations.

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Report Claims 95 Percent of Bitcoin Trading is Fake
Mar22

Report Claims 95 Percent of Bitcoin Trading is Fake

A new study from Bitwise claims that as much as 95 percent of all Bitcoin trading volume on unregulated cryptocurrency exchanges is fake, CNBC reports. Researchers concluded that nearly all of the volume reported on 71 of the top 81 crypto exchanges involved wash trading designed to create a false impression of market activity.

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