Digital Asset – Page 7

Coinbase Debuts Paypal’s PYUSD Stablecoin; Trading to Roll Out in Phases Pending Liquidity

August 31, 2023

Coinbase has listed Paypal’s PYUSD stablecoin, following an announcement of its support for the digital asset just a day earlier. Should liquidity requirements be satisfied, the exchange plans to introduce trading pairs for the asset in stages. Coinbase Adds PYUSD Stablecoin Coinbase, the prominent cryptocurrency exchange headquartered in San Francisco, has incorporated Paypal’s dollar-tied token,…
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IRS releases draft of proposed reporting rules for digital asset brokers

August 26, 2023

House Financial Service Committee Chair Patrick McHenry said the rules are part of “the Biden Administration’s ongoing attack on the digital asset ecosystem.” The Internal Revenue Service (IRS), the agency responsible for tax collection in the United States, released proposed regulations on the sale and exchange of digital assets by brokers. Under the rules, brokers…
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Strict Canadian crypto exchange rules allowed Kraken clarity to invest there, exec says

August 16, 2023

Kraken’s Canada managing director told Cointelegraph in an interview that attaining restricted dealer status provided a clear regulatory pathway. Size and energy allowed Kraken to stay in Canada after the imposition of new registration requirements for crypto exchanges in February. But in spite of the demanding process, the regulatory clarity has benefited the company, Kraken…
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Crypto asset investment in Latvia declines by 50% over past year, per central bank

August 5, 2023

According to Latvijas Banka, 4% of the population bought crypto assets in February, down from 8% in 2022, while payments “continue to prevail.” The number of people buying crypto assets in Latvia is declining, Latvijas Banka said in its 2023 “Financial Stability Report.” The central bank attributed the falling interest in crypto to negative sentiment…
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Toyota GR Cup will award digital trophies on Polygon blockchain to race winners

August 1, 2023

Toyota continues its ongoing exploration into integrating blockchain technology within its corporate and developmental ecosystems. The Toyota GR Cup, a North American racing series held by Toyota Gazoo Racing, recently announced it will start awarding digital trophies and record driver performances on the Polygon blockchain. Image source: Toyota press release. Per a press release, the…
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SEC chief accountant warns accountants about liabilities when auditing crypto firms

July 27, 2023

Paul Munter says making or allowing misleading statements can have serious consequences for accounting firms and individual accountants. Paul Munter, chief accountant of the United States Securities and Exchange Commission (SEC), has released a statement warning accounting firms of their obligations to the agency when working with crypto firms. Allowing their finding to be misrepresented…
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US House Republican committees introduce joint digital assets bill

July 21, 2023

The House Agriculture and Financial Services Committees have been working together all year on a bill to rival Lummis and Gillibrand’s Responsible Financial Innovation Act. A bill to create a regulatory framework for digital assets has been introduced by Republican members of the Agriculture and Financial Services Committees of the United States House, the result…
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Namibia passes bill to regulate crypto and digital assets

July 6, 2023

The legislation aims to establish a framework for licensing and regulating virtual asset service providers. Namibia has joined other African nations in embracing cryptocurrencies and digital assets by approving a bill in the National Assembly. The bill, which passed Namibia’s lower house of parliament on June 22, aims to regulate digital assets, cryptocurrencies and virtual…
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CME Group set to introduce ETH to BTC Ratio futures

June 30, 2023

The scheduled launch date for these futures contracts is set for July 31, pending regulatory review. On June 29, the Chicago Mercantile Exchange (CME) Group announced its plans to introduce Ether/Bitcoin Ratio futures. The launch of these futures contracts is slated for July 31, subject to regulatory review. Efficiently capture the relative value of ether and bitcoin…
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CFTC issues $54M default judgment against trader in crypto fraud scheme

June 28, 2023

As a result of the judgment, the defendant is also now prohibited from engaging in any trading activities within markets regulated by the CFTC and is barred from registering with the regulatory body. On June 28th, the Commodity Futures Trading Commission (CFTC) announced that Judge Naomi Reice Buchwald of the U.S. District Court for the…
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Category: Digital Asset