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Russia Recognizes Digital Currencies of Other Nations

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The Russian government has legally recognized digital currencies issued by other nations, local crypto media reported. The respective legislative changes have been made alongside the adoption of a dedicated law regulating the introduction of Russia’s own digital ruble. Amendments Legalizing Foreign CBDCs Enter Into Force in Russia Russian authorities have granted digital currencies of other

Binance.US hires former SEC enforcement official amid lawsuit: Report

binance.us-hires-former-sec-enforcement-official-amid-lawsuit:-report

Former SEC enforcement co-director George Canellos reportedly joins the Binance.US legal team as the firm faces challenges to keep its assets unfrozen. United States-based crypto exchange Binance.US has reportedly hired a former enforcement official from the Securities and Exchange Commission (SEC) as part of the legal team to defend itself against allegations of operating as

EU Securities Watchdog ESMA Warns of Unregulated Crypto, Gold Investment Offerings

eu-securities-watchdog-esma-warns-of-unregulated-crypto,-gold-investment-offerings

The European Securities and Markets Authority (ESMA) has issued a warning regarding investments in assets like cryptocurrencies. They will remain unregulated in most countries until the EU’s Markets in Crypto Assets (MiCA) law is enforced across the Union, the regulator pointed out. ESMA Highlights Risks Related to Unregulated Products and Services for Crypto and Other

FTX bankruptcy judge approves sale of LedgerX

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The judge said he read all the papers and declarations related to the FTX debtors’ motion for the sale of LedgerX and was “satisfied” with the proceedings. The judge presiding over crypto exchange FTX’s bankruptcy case has given the green light to a motion allowing the sale of LedgerX.In a May 4 hearing in United

Tax law researchers propose IRS framework for deducting crypto losses

tax-law-researchers-propose-irs-framework-for-deducting-crypto-losses

A recently published study appears to advocate for the isolation of crypto assets from other tax deductions where losses are concerned. Researchers at Indiana University and the University of Maine recently published a study examining the current state of cryptocurrency tax law in the United States. The research concludes with recommendations for the Internal Revenue

Bitcoin mining pool BTC.com reports $3M cyberattack

bitcoin-mining-pool-btc.com-reports-$3m-cyberattack

BTC.com, the seventh-largest Bitcoin mining pool, said that its client fund services are unaffected by the recent $3 million cyberattack. Major cryptocurrency mining pool BTC.com has suffered a cyberattack resulting in a significant loss of funds by the company and its customers.BTC.com experienced a cyberattack on Dec. 3, with attackers stealing around $700,000 in client

SEC chair’s crypto oversight strategy in question as ecosystems collapse

sec-chair’s-crypto-oversight-strategy-in-question-as-ecosystems-collapse

Congressman Tom Emmer showed concerns about the oversight strategy implemented by Gary Gensler, the chair of the U.S. Securities and Exchange Commission for the crypto ecosystem. While regulations are often aimed at protecting citizens from bad actors, the effectiveness of crypto regulations in the United States is in question owing to the colossal fall of

New York AG calls for whistleblowers ‘deceived or affected’ by the crypto market crash

new-york-ag-calls-for-whistleblowers-‘deceived-or-affected’-by-the-crypto-market-crash

“I encourage workers in crypto companies who may have witnessed misconduct to file a whistleblower complaint,” said New York Attorney General Letitia James. New York Attorney General Letitia James has opened the doors for investors who may have witnessed misconduct at a crypto firm amid the extreme market volatility to file a complaint as a

Andorra green lights Bitcoin and Blockchain with Digital Assets Act

andorra-green-lights-bitcoin-and-blockchain-with-digital-assets-act

An analysis of Andorra’s Digital Assets Act and the potential confusion surrounding Bitcoin, blockchain and crypto according to crypto business owners. A small light of progress shines from Andorra, a tiny European country nestled between France and Spain. The country’s government, the General Council of Andorra, recently approved the Digital Assets Act, a regulatory framework…

US lawmakers introduce bills that could force crypto exchanges to cut ties with Russian wallets

us-lawmakers-introduce-bills-that-could-force-crypto-exchanges-to-cut-ties-with-russian-wallets

Brad Sherman said the Biden administration should have the ability to tell crypto exchanges not to do “business with Russia-based crypto wallets” amid the situation with Ukraine. Representative Brad Sherman will be introducing a bill in the House aimed at cracking down on U.S. businesses handling crypto transactions for Russian banks and individuals.Speaking at a…

Regulators and industry leaders react to Biden‘s executive order on crypto

regulators-and-industry-leaders-react-to-biden‘s-executive-order-on-crypto

“The proverbial doors of policymakers are wide open, this is now a national conversation in the U.S.,” said Circle CEO Jeremy Allaire. Joe Biden has signed his 82nd executive order since being sworn into office in January 2021, directly addressing a regulatory framework for digital assets in a rare moment for the U.S. President.In a…

Turkey’s crypto law is ready for parliament, President Erdoğan confirms

turkey’s-crypto-law-is-ready-for-parliament,-president-erdogan-confirms

Once implemented, the crypto law will implement a new economic model that can potentially help recover the lira’s falling value. Turkey’s President Recep Tayyip Erdoğan has reportedly confirmed the completion of a crypto law draft that will soon be shared with the Parliament for mainstream implementation in the country.In an effort to counter the falling…

Russia does ‘absolutely nothing’ to regulate crypto, RACIB head says

russia-does-‘absolutely-nothing’-to-regulate-crypto,-racib-head-says

The recent law “On Digital Financial Assets” has not gone far enough in the eyes of Russian crypto industry advocates. Despite Russia adopting its first cryptocurrency law in January 2021, the country’s cryptocurrency market is still largely unregulated and is associated with a lot of uncertainty, according to a local industry advocate.Yury Pripachkin, head of…

Texas Ethics Commission seeks pro-crypto rule for political contributions

texas-ethics-commission-seeks-pro-crypto-rule-for-political-contributions

If approved, cryptocurrency donations and contributions will need to be reported as in-kind contributions or as investments, not currency. The proposal was filed with the Texas Secretary of State, which sought to address and clarify the reporting requirements of political contributions made with cryptocurrencies. According to the filing:“The new rule permits candidates, officeholders, and political…

Crypto lender Nexo confirms NYAG order, calls it a ‘mix up’

crypto-lender-nexo-confirms-nyag-order,-calls-it-a-‘mix-up’

Nexo Financial confirms to be one of the two crypto lending firms to receive the cease and desist order from Attorney General James’ office. Cryptocurrency lending firm Nexo Financial denies the allegations of offering unregistered services to New Yorkers put forth by Attorney General Letitia James.Attorney General James directed two unnamed crypto lending companies to…

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