Tag: Regulation

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CFTC head looks to new Congress for action on crypto regulation

February 3, 2023

“I will continue to engage and provide technical assistance to draft legislation, as requested,” said Rostin Behnam. Rostin Behnam, chair of the United States Commodity Futures Trading Commission, or CFTC, has said he will be continuing efforts for the agency to regulate non-security tokens. In remarks released for a Feb. 3 American Bar Association event,…
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US Judge Dismisses Customer Lawsuit Against Crypto Exchange Coinbase

February 3, 2023

A U.S. district judge has dismissed a lawsuit against Coinbase and its CEO Brian Armstrong filed by customers of the crypto exchange. The lawsuit alleges that Coinbase sold 79 crypto tokens that are unregistered securities. Customer Lawsuit Against Coinbase Dismissed A proposed class action lawsuit filed in Manhattan by customers of cryptocurrency exchange Coinbase (Nasdaq:…
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Alleged Mango Markets exploiter waives bail during hearing in federal court

February 2, 2023

A federal judge presiding over Avraham Eisenberg’s criminal case has reportedly set a followup court date for Feb. 14. Lawyers representing a crypto user allegedly behind a $116-million exploit of decentralized exchange Mango Markets have consented to detention in the criminal case involving commodities fraud, commodities market manipulation and wire fraud. According to accounts of…
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Senate Banking Committee’s priorities for new Congress include crypto: Report

February 2, 2023

Senator Tim Scott, who became the committee ranking member following the departure of Pat Toomey, reportedly plans to make a crypto regulatory framework a priority in 2023. Senator Tim Scott, the Republican ranking member on the United States Senate Banking Committee, reportedly plans to develop “a bipartisan regulatory framework” for cryptocurrencies. According to a Feb.…
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Billionaire Charlie Munger Says America Should Ban Crypto – Here’s Why

February 2, 2023

The US should follow in China’s footsteps and implement “a ban of cryptocurrencies,” according to billionaire investor Charlie Munger. Writing in an opinion piece for the Wall Street Journal on Wednesday, Mr. Munger said crypto “isn’t a currency,” and likened the crypto market to a casino “with a nearly 100% edge for the house.”… Read…
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Chinese Economist Urges Government to Reconsider Crypto Ban — Warns of Missed Tech Opportunities

February 2, 2023

An economics professor and former adviser to the People’s Bank of China has urged the Chinese government to reconsider its ban on cryptocurrencies. He warned that banning crypto activities could result in missed opportunities that are “very valuable” to regulated financial systems. Chinese Economist Warns of Missed Opportunities Due to Crypto Ban A former adviser…
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Indian Government Introduces New Crypto Tax Penalties

February 2, 2023

The Indian government has introduced new crypto tax penalties, including for non-payment of crypto tax deducted at source (TDS). Much to the disappointment of the crypto community, Finance Minister Nirmala Sitharaman did not mention crypto in her Budget speech this year. Crypto income remains taxed at 30% while TDS stays at 1%. No Crypto Tax…
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Britain Announces Plans for ‘Robust’ Crypto Rules, Launches Consultation

February 2, 2023

The U.K. has unveiled “ambitious plans” to “robustly regulate” various crypto activities, while seeking to protect customers and grow its economy. In the next three months, British authorities will accept public feedback on the new regulatory proposals designed to govern digital assets like traditional finance. British Government Sets Out to Regulate Crypto Market, Remains Committed…
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US Treasury lists BTC, ETH addresses tied to Russian sanctions evasion group

February 1, 2023

The government department said it would impose “full blocking sanctions” on Jonatan Zimenkov and his crypto addresses due to his connections with a sanctions evasion network. The Office of Foreign Assets Control of the United States Department of the Treasury has added two cryptocurrency wallets allegedly connected to a Russian sanctions evasion network as part…
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