U.S. Senators Elizabeth Warren and Angus S. King, Jr. have urged the U.S. Department of the Treasury and the Internal Revenue Service (IRS) to speed up the implementation of new tax reporting rules for cryptocurrency brokers. In a joint letter, the senators expressed concerns about the two-year delay in enforcing the rules, which is expected […]
ARK Invest has updated its proposal for a spot Bitcoin ETF in response to criticisms from the U.S. Securities and Exchange Commission (SEC). The amendment addresses concerns regarding accounting methods, risk valuation techniques, and surveillance-sharing arrangements. The updated application highlights Coinbase’s custodial practices, stating that the fund’s assets are held in segregated addresses on the […]
Seven U.S. senators, including Elizabeth Warren and Bernie Sanders, have urged the Treasury Department and IRS to expedite the implementation of tax reporting requirements for crypto brokers. The lawmakers expressed concern over the two-year delay in enforcing these rules, which are set to take effect in 2026 for transactions in 2025. They argued that the […]
Bitstamp, a cryptocurrency exchange, has announced that it will be discontinuing its services to customers in Canada starting from January 8, 2024. The decision was initially communicated to Canadian customers in March and CEO Bobby Zagotta expressed the company’s gratitude towards its Canadian customers, emphasizing that this was not an easy decision. Bitstamp has also […]
Malaysia-based Hata has received in-principle approval from Securities Commission Malaysia (SC) to register as a Recognized Market Operator (RMO) as a digital asset exchange and digital broker. This approval allows Hata to launch its services within the next six to nine months. Hata will be the fifth regulated digital asset exchange in Malaysia and the […]
Caroline Ellison, a close confidant of former FTX CEO Sam Bankman-Fried, has revealed in court transcripts that FTX’s trading arm, Alameda Research, paid a bribe to the Chinese government to unfreeze $1 billion. Ellison, who is also the former CEO of Alameda, disclosed this information during questioning by United States Attorneys. She stated that Alameda’s […]
The trial of Sam Bankman-Fried, the former CEO of crypto exchange FTX, is currently underway. The United States Department of Justice (DOJ) and the defense have presented their arguments. The DOJ accuses Bankman-Fried of intentionally deceiving investors and using his company, Alameda, to steal customers’ funds. They also claim that he had influence over politicians […]
San Francisco-based blockchain startup Ripple is facing challenges in its ongoing lawsuit with the U.S. Securities and Exchange Commission (SEC). Last week, a U.S. judge rejected the SEC’s appeal for an interlocutory motion in the Ripple lawsuit and pushed for a settlement between the two parties. Amidst this legal battle, Ripple’s Chief Financial Officer, Kristina […]
Blockchain analysis firm Arkham Intelligence has reported that crypto mixing platform Tornado Cash has bounced back after facing sanctions from the US government and the arrest of its key figures. According to Arkham Intelligence, Tornado Cash remains the largest crypto mixer on the Ethereum network, with $77.35 million in assets flowing through its contracts in […]
Just 47% of retail crypto investors in Hong Kong are aware of the Virtual Asset Trading Platform Regulatory Regime, a legislation which went into effect this June to protect the interest of retail investors in digital assets in the region. According to a report by the Investor and Financial Education Council (IFEC) of Hong Kong, […]
