The United States House Financial Services Subcommittee on Digital Assets, Financial Technology and Inclusion recently held a hearing on the use of blockchain technology in the context of crypto crime. The bipartisan hearing aimed to address misconceptions and explore ways to combat illicit activities involving digital assets. The discussion was prompted by an article published […]
The court has finalized the dismissal of a class action lawsuit against BitFinex and Tether after the plaintiffs chose not to appeal the ruling. The lawsuit accused the companies of misleading consumers about the properties of Tether’s stablecoin USDT and falsely disclosing information about its reserves. The plaintiffs claimed that the stablecoin was not backed […]
Recent developments in the world of cryptocurrency have sparked discussions about the regulatory environment surrounding crypto-based exchange-traded funds (ETFs). The Securities and Exchange Commission (SEC) has decided to defer its ruling on Grayscale’s application for an Ethereum Futures ETF, which has caused controversy and speculation. Grayscale, a prominent player in the cryptocurrency investment space, submitted […]
The global movement to promote crypto tax transparency is gaining momentum, with new requirements being placed on participants in digital asset markets in Europe and the U.S. These initiatives aim to ensure that transactions are reported and that participants comply with other provisions. This increased transparency is intended to address concerns about tax evasion and […]
BlackRock, a prominent asset manager in the crypto industry, has expressed concerns about stablecoins, specifically Tether (USDT) and Circle’s USDC, and their potential impact on its proposed iShares Bitcoin spot Exchange-Traded Fund (ETF). Stablecoins, which are designed to maintain a stable value by pegging it to a specific asset or currency, have become important players […]
In a surprising turn of events, the cryptocurrency market experienced a significant price fluctuation for XRP due to a fake filing that suggested the registration of an XRP ETF by BlackRock, the world’s largest fund manager. However, Bloomberg’s senior ETF analysts have debunked these claims, confirming that the registration was false. The incident has been […]
During her opening speech at the Singapore FinTech Festival, IMF Managing Director Kristalina Georgieva emphasized the need for the public sector to be prepared for the deployment of central bank digital currencies (CBDCs) and related payment platforms in the future. Georgieva expressed optimism about the global implementation of CBDCs, stating that about 60 percent of […]
Crypto exchange OKX has partnered with custody provider Komainu and asset manager CoinShares to facilitate round-the-clock trading of segregated assets, aiming to promote institutional adoption of digital assets. CoinShares will trade on the OKX exchange, while Komainu will hold the collateral assets as a third-party custody provider. This arrangement helps mitigate counterparty risks in trading […]
The Australian Taxation Office (ATO) has clarified that it will impose capital gains tax on wrapped tokens and token interactions with decentralized lending protocols. This clarification has come as a major setback to crypto holders in Australia. The ATO had previously outlined crypto capital gains as one of its key focus areas and had mentioned […]
In the ongoing legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC), the court has established a firm timeline for the remedies phase of the lawsuit. This phase is critical as it will determine the consequences and potential penalties for Ripple following the extensive legal proceedings that have captivated the attention of […]
