A foreign resident of Abu Dhabi who was potentially facing jail time over an unpaid $100,000 loan received $27,400 in donations after his story spread. A former Etihad Airlines flight attendant who took out a $100,000 loan to invest in cryptocurrency may not be facing jail time after he received 25% of the total debt…
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Sensitive documents outlining the proprietary investment strategies of Telegram ICO participants have been redacted from the case with the SEC. A U.S. District Judge has approved the majority of redaction requests received during the proceedings surrounding the Securities and Exchange Commission’s (SEC) lawsuit against messaging firm Telegram over its $1.7 billion initial coin offering (ICO).…
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A new crypto reporting app by the big four accounting firm EY will help clients with tax reporting as the IRS cracks down on tax evasion. Multinational professional services firm Ernst & Young have released a crypto tax app called EY CryptoPrep. It’s a fully automated, web-based Software as a Service (SaaS) product to assist…
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The Fed is looking at issuing a central bank digital currency, but can’t point to any concrete progress. In a hearing on June 17 before the House Committee on Financial Services, Chairman of the Federal Reserve Jerome Powell got into an exchange with Representative Tom Emmer (R-MN) over the subject of a central bank digital…
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The US federal court sides with the IRS in a dispute involving crypto whales and unpaid taxes. The United States Tax Court has affirmed the IRS’ decision to deny a Maryland couple an installment plan. They state instead that the couple should liquidate their $7 million cryptocurrency holdings to pay off the tax debt. The…
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Last Monday, Chinese media reported that police in Guangdong froze thousands of bank accounts belonging to over-the-counter traders. It was reported last week that thousands of bank accounts belonging to Chinese over-the-counter cryptocurrency traders were recently frozen by law enforcement. The police claimed that this was part of a wider investigation into illegal activities, such…
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A federal court in Manhattan sentenced the founder of a $25 million ICO scam to 87 months and a fine of up to $250,000. Robert Farkas, the founder of cryptocurrency firm Centra Tech, which raised more than $25 million from its initial coin offering scam, pled guilty in a federal court in Manhattan on Tuesday. The…
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Former Bitcoin Core developer Peter Todd has settled a defamation suit against a cryptographer who accused him of being a rapist. Peter Todd, a former Bitcoin Core developer, has settled a defamation lawsuit against cryptographer Isis Lovecruft who accused Todd of being a rapist in a tweet posted in February 2019. The terms of the…
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Russ Albert Medlin — co-founder of alleged crypto Ponzi scheme BitClub — was arrested in South Jakarta for sexual assault on minors. Russ Albert Medlin — co-founder of alleged crypto Ponzi scheme BitClub — was arrested in South Jakarta under accusation of sexual assault on minors. Local news outlet Jakarta Globe reported on June 16…
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The chairman of the Federal Reserve sees no issues with the massive expansion of the Fed’s balance sheet and believes that inflation will struggle to stay above the target. Jerome Powell, the chairman of the Federal Reserve, reported on the state of the economy at a Senatorial hearing held on June 16. During the initial…
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