Hester Peirce, affectionately known as ‘Crypto Mom’, looks set to serve in the US Securities and Exchange Commission until 2025. President Trump has nominated Hester Peirce to be a member of the U.S. Securities and Exchange Commission (SEC) for a second term ending in 2025. Pierce has been affectionately dubbed ‘Crypto Mom’ for being one…
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Chinese law enforcement discovered an illegal Bitcoin mining operation in what appeared to be multiple underground burial sites. Chinese law enforcement discovered a Bitcoin (BTC) mining operation in what appeared to be multiple underground burial sites. Local English-language news outlet Beijing News reported on May 31 that law enforcement found an illicit mining operation in…
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Ripple continues to expand its presence in Brazil, holding a meeting with officials at the country’s central bank. Ripple, the company associated with the XRP cryptocurrency, had a closed-door meeting with the central bank of Brazil on May 30 to discuss “institutional matters”. According to the financial institution’s website, its president Roberto Campos Neto had…
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The global regulatory landscape is tightening for crypto ATM operators. Experts predict that Bitcoin ATMs (BATMs) will face stricter regulations worldwide, with countries including Canada and Germany already moving to tighten up anti-money laundering requirements. A June 2 report from CipherTrace estimates that 74% of transactions made from U.S.-based Bitcoin ATMs were sent out of…
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With the class-action lawsuit against Tezos likely to soon end in a $25 million settlement, ICO participants are encouraged to submit claims by Oct. 16. Investors who participated in Tezos’s (XTZ) initial coin offering between July 1, 2017, and July 13, 2017, have been notified that they may be eligible for a share of the proposed…
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Taro Aso might not be willing to support legislation in Japan treating cryptocurrency-related income the same as that for stocks. Finance Minister Taro Aso suggested he was unwilling to push for lowering the tax rate on cryptocurrencies in Japan to a flat 20% because it’s difficult for many households to invest in digital assets. Aso…
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From today onwards, Canadian firms operating with virtual currencies will be legally recognized as Money Service Businesses. Cryptocurrency exchanges and payment processors are now legally recognized as Money Service Businesses (MSB) within Canada. June 1 saw the enactment of amendments to Canada’s Proceeds of Crime (Money Laundering) and Terrorist Financing Act that were passed in…
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Venezuelan petrol stations now support the state-issued Petro cryptocurrencies, however, the rollout comes amid an aggressive adjustment to the country’s petrol regime. Venezuela has announced that petrol stations across the nation will sell gasoline at a reduced price in exchange for the country’s state-issued, oil-backed cryptocurrency, the Petro. However, the announcement comes alongside the removal…
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The art of enacting legislation in a timely fashion requires strong cooperation between regulators and industry officials. “Coming together is a beginning, staying together is progress, and working together is success” — the words of Henry Ford give expression to the spirit of collaboration that defines human progress. His ethos around unity extends to many…
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Here are the legal resources available to Indian crypto users and businesses if a bank has declined services out of cryptophobia. In a recent response to a Right to Information query, the Reserve Bank of India, the Indian central bank, has stated that there is no prohibition on banks to provide bank accounts to cryptocurrency…
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