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IRS Delays Crypto Reporting Requirements for US Businesses
The IRS delays enforcing crypto transaction reporting requirements for US businesses, pending a comprehensive regulatory framework. This follows the crypto community's concerns over the practical challenges of complying with the Infrastructure Investment and Jobs Act's rules.
GameStop Phases Out NFT Platform in Response to Regulatory Challenges
GameStop has announced the closure of its NFT marketplace, citing regulatory uncertainty. Effective from February 2, 2024, the platform will cease operations but assures that NFTs remain accessible on the blockchain.
Decline in Cryptocurrency ATMs in 2023: A Global Perspective
In 2023, the global number of Bitcoin ATMs decreased by 11.1%, marking the first decline in a decade, with the U.S. being the largest host, contrasting with growth in the EU and other regions.
South Korea and U.S. Set for High-Level Crypto Regulatory Talks in January
South Korea's FSS Chief, Lee Bok-hyun, is set to meet with SEC Chair Gary Gensler in January to discuss cryptocurrency market regulation in light of global market changes.
Crypto Industry Increases Lobbying Efforts During Crypto Winter
A new study by the Money Mongers reveals that the crypto industry spent $25.57 million on lobbying in the United States in 2022, a 922% increase from 2017. Coinbase, the U.S.-based crypto exchange, led the spending with $3.3 million, followed by the Blockchain Association with $1.9 million and Robinhood with $1.84 million. Despite the increase in lobbying efforts, the overall expenditure of crypto companies on lobbying in America is modest compared to other industries.
Grayscale CEO challenges SEC's denial of application
If GBTC becomes a spot BTC ETF, Grayscale Investments CEO Michael Sonnenshein stated investors will get a "few of billion dollars" back.
Former facilities worker who allegedly set up a secret cryptocurrency mining operation
After skipping a court arraignment session, Nadeam Nahas faces arrest for using a school's energy for bitcoin mining.
The Fed Rejects Custodia Bank's Membership Application
The Fed rejected cryptocurrency-focused Custodia Bank membership again, citing "sound banking operations."
Binance.US Could Be in Violation of Securities Law
SEC opposes Binance. US acquisition of nearly $1 billion in Voyager Digital assets.
Revenue for United States-based Coinbase Exchange Beats Expectations for 4th quarter
Coinbase exceeded Wall Street profit projections in Q4 2022 despite a drop in exchange transaction volumes.