Tag: Cryptocurrency regulations
Senate Clears Hurdle to Kill IRS Crypto Rule
In a momentous turn of events on Capitol Hill, the U.S. Senate successfully passed a resolution aimed at abolishing the IRS' controversial cryptocurrency broker rule, signaling a significant victory for proponents of digital assets....
Swiss National Bank Rejects Bitcoin as Reserve Asset
Swiss National Bank Rejects Bitcoin as Reserve AssetIn a recent announcement, the Swiss National Bank (SNB) declared that Bitcoin will not be considered as a reserve asset. SNB President Martin Schlegel emphasized that cryptocurrencies...
SEC Closes Investigation Into Uniswap Without Enforcement Action
SEC Drops Investigation Into Uniswap Without Enforcement ActionUniswap, the Brooklyn-based company behind the decentralized protocol of the same name, recently received news that the U.S. Securities and Exchange Commission (SEC) has decided to close...
OKX Settles $505M Non-Compliance Case with Department of Justice
Global cryptocurrency exchange OKX has recently made headlines by settling a massive $505 million non-compliance case with the U.S. Department of Justice. This significant penalty comes after OKX admitted to running an unlicensed money-transmitting...
South Korean Lawmaker Escapes Crypto Disclosure Charges
A South Korean lawmaker, Kim Nam-kuk, recently made headlines after being acquitted of charges related to concealing his cryptocurrency holdings. The court ruled that Kim was not legally obligated to disclose his virtual assets,...
State Progresses Towards Crypto Reserve; Others Follow Suit
State Progresses Towards Crypto Reserve; Others Follow SuitUtah recently made headlines by passing a groundbreaking digital assets bill through the state house, marking a significant step towards allowing the investment of public money into...
Bessent, Trump’s Treasury Secretary, Set to Address Taxes Ahead of Crypto
**Bessent, Trump's Treasury Secretary, Unveils Tax Approach Amid Crypto Uncertainty**Scott Bessent, the newly appointed head of the Treasury Department under President Donald Trump's administration, has captivated the attention of the financial industry with his...
Upbit Faces Potential Sanctions in South Korea
**Upbit Faces Potential Sanctions in South Korea**South Korea’s largest cryptocurrency exchange, Upbit, is under scrutiny for possible violations of financial regulations in the country. The Financial Services Commission (FSC) has issued a procedural sanctions...
Polymarket Customer Data Subpoenaed by US CFTC from Coinbase
**Polymarket Customer Data Subpoenaed by US CFTC from Coinbase**The U.S. Commodity Futures Trading Commission is seeking information about customers' interactions with the prediction market site Polymarket. On January 9, 2025, at 11:30 p.m. UTC,...
China’s Crypto Regulations: Implications for Other Countries
China's New Crypto Regulations: A Global ImpactOn the cusp of 2025, the Chinese government dropped a bombshell in the world of cryptocurrency - unveiling a fresh set of laws aimed at severely restricting the...
