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
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
The platform’s first derivatives contract will be a BTC perpetual contract denominated in Gemini Dollar, followed by an ETH/GUSD perpetual contract. United States-based crypto exchange Gemini announced on April 21 the upcoming launch of a derivatives platform outside the United States. The move comes amid a tightening, uncertain regulatory environment for crypto firms in the
Interest in the U.S. banking crisis has risen greatly over the past two weeks, as shown by Google Trends data. There has been a sharp increase in queries related to search terms such as “banking crisis,” “bank collapse,” and “bank failure.” On March 13, 2023, the search term “banking crisis” reached the top Google Trends
David Hoffman apologized for spreading rumors about what he called a “Wells Notice Carpet Bombing” targeting crypto firms. Co-founder of content studio Bankless David Hoffman apologized for spreading rumors about what he called a “Wells Notice Carpet Bombing” targeting crypto firms, including the decentralized finance protocol Lido Finance. “Carpet bombing” was a reference to an allegedly
Under the proposed amendments, crypto campaign contributions under $100 were acceptable, provided the receiver immediately convert the funds to USD and not HODL them. Lawmakers in the Kansas House of Representatives have introduced a bill proposing to amend the legislature’s rules on political campaign donations.According to the bill, no person would be allowed to make
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
A bill based on the proposed framework banning crypto investments could help to “restore the public’s faith and trust in their public officials,” according to Zoe Lofgren. Members of the United States House of Representatives and Senate as well as Supreme Court justices currently trading cryptocurrencies may have to stop HODLing while in office should
Abra announced its international venture and U.S. bank would work with officials to ensure regulatory and legal compliance and planned to launch in 2022 and 2023, respectively. Cryptocurrency trading platform Abra said it was “in the process of” establishing a United States-based state-chartered bank allowing clients to deposit digital assets.In a Monday announcement, Abra said
Data from March reportedly showed the largest number of U.S. trademark filings in 2022, with 1,078 for NFTs, 604 for cryptocurrencies, and 759 for the metaverse. The number of U.S. trademarks filed related to cryptocurrencies, nonfungible tokens, Web3, and the metaverse since January have reportedly passed those in 2021.According to data compiled by intellectual property
“There is a concerning lack of publicly available data to effectively evaluate the diversity among America’s largest digital assets companies,” said the letter. A group of five lawmakers from the United States House of Representatives has requested data on the diversity and inclusion practices of 20 major firms dealing with cryptocurrencies and Web3.In a Thursday
“There’s no reason to treat the crypto market differently just because different technology is used,” said Gary Gensler. Gary Gensler, chair of the United States Securities and Exchange Commission, said the agency’s protections that apply to investors of traditional assets should extend to those in the crypto market.In prepared remarks released Monday for the Penn…
The City of Austin gears up to become America’s next crypto hot spot by passing two resolutions focused on cryptocurrency and blockchain innovation. Innovative cities across America are racing to become the next hot spot for cryptocurrency and blockchain adoption. Miami was the first city to adopt its own part of CityCoins last year, allowing…
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…
“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…
Michael J. Hsu said that the mainstreaming of crypto has occurred despite regulatory and legal uncertainty, and a series of scams, hacks, and other disruptive events. The Acting Comptroller of the Currency, Michael J. Hsu, highlighted the need for collaboration and coordination with large crypto intermediaries to better understand the risks within the growing $2…
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