“High, unpredictable fees can make crypto trading really dangerous for people who aren’t rich,” said Senator Warren. Democratic Senator Elizabeth Warren, known by many as an outspoken cryptocurrency skeptic in the United States government, criticized outages at exchanges and high transaction fees during periods of price volatility. In a Tuesday hearing of the Senate Committee…
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The central bank of Russia has advised commercial banks on how to identify and block cards and wallet accounts used by shady businesses. Along with illegal forex dealers and financial pyramids, the regulator has also listed crypto exchangers as suspicious entities. New AML Recommendations by Bank of Russia Target Cryptocurrency Exchangers Russia’s central bank has…
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If passed, the plan would raise the capital gains tax rate for “certain high income individuals” to 28.8%, while eliminating the “wash sale” loophole for crypto users. Democrats in the U.S. House of Representatives have proposed tax initiatives to fund a $3.5 trillion spending package which could potentially affect crypto users. According to a document…
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“Under our laws, they have to register with the Commission unless they qualify for an exemption,” said Gary Gensler. Gary Gensler, chair of the United States Securities and Exchange Commission, is once again urging crypto projects with securities to register with the regulatory body to ensure thinvestors are protected. In a prepared statement for his…
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Indians exchanges are urging locals to buy and give Bitcoin during the upcoming holiday season. To celebrate the holiday season in India, cryptocurrency exchanges are looking to lure retail traders by launching aggressive marketing campaigns and giving away crypto. For this year’s Hindu holiday season, which kicked off on Sept. 10, crypto exchanges are encouraging…
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The U.S. Treasury Department is reported to have held meetings with participants from the country’s financial industry to discuss “the risks and benefits posed by stablecoins.” In addition, officials are said to have used the meetings to discuss “whether stablecoins would require direct oversight if they become extremely popular.” Policymakers Alarmed by Growth of Crypto…
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The head of the Bank of International Settlements (BIS) Innovation Hub, Benoît Cœuré, has urged central banks to act now on central bank digital currencies (CBDCs) to compete with initiatives in the private sector, including cryptocurrencies. “CBDCs will take years to be rolled out, while … crypto assets are already here,” he said.
BIS Says…
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The U.S. Securities and Exchange Commission (SEC) has issued a warning about fraudulent investment schemes involving cryptocurrencies. The regulator notes that some investors may have fear of missing out (FOMO) given the rise in prices of some crypto assets in recent years. SEC Warns Investors of Crypto Scams The U.S. Securities and Exchange Commission’s Office…
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Switzerland’s stock exchange SIX has won regulatory approval to launch its long-awaited bourse for digital assets. This authorization enables the exchange “to go live with a fully regulated, integrated trading, settlement, and custody infrastructure based on distributed ledger technology for digital securities.” SIX Digital Exchange Greenlighted to Launch SIX Digital Exchange (SDX) announced Friday that…
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The governor of the Reserve Bank of India (RBI), Shaktikanta Das, has once again expressed concerns regarding the impact of cryptocurrencies on India’s financial stability. Crypto Presents ‘Serious Concerns’ to RBI The Indian government is currently awaiting the Cabinet to take up the crypto bill. However, the country’s central bank, the Reserve Bank of India…
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