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CRYPTOCURRENCY

 
Crypto News
The definition of a cryptocurrency is a digital asset containing cryptographic protocols that make transactions secure and immutable. Cryptocurrencies are built on top of distributed ledger technology, blockchain — which allows it to be decentralized and immune to government control and interference. Transactions involving cryptocurrencies involve public and private keys, enabling minimal processing fees, allowing users to be able to make transfers without traditional third-party institutions.
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Why Bitcoin Doesn’t Feel Like a Bull Market
Why does everybody still act like bitcoin is in a bear market?

South African Reserve Bank to Strictly Regulate Cryptocurrency in 2020
The South African Reserve Bank (SARB) is planning on introducing new regulations on cryptocurrency, which according to Kuben Naidoo, SARB deputy governor, will be fully implemented and enforced in the first quarter of 2020 and it brings to an end a deliberation that started since 2014.

Iran Government Offers Up To 20% Reward To Anyone Who Exposes Illicit Cryptocurrency Mining In The Country
Iran just offered a reward to anyone who exposes illicit cryptocurrency mining in the country.

CFTC Commissioner Clarifies the Agency's Sweeping Rights to Regulate Crypto Derivatives
CFTC Commissioner Dawn D. Stump has given several clarifications that show the agency has powers to regulate cryptocurrencies.

Serbian Citizen Extradited to US to Face Crypto-Related Fraud Charges
An accused scammer has arrived in the US from Serbia to face charges that he and other six conspirators involved in a crypto fraud scheme that defrauded investors out of over $70 million.

IRS Crypto Disclosure Letters Violated US Taxpayer Rights in 2019
The IRS shook up the US crypto sector last year, when it issued Letter 6137 to American taxpayer’s which demanded that all citizens declare any unreported crypto gains within 30 days. One year on and an IRS watchdog has slammed the letter as a violation of the Taxpayer Bill of Rights.

Stellar CEO Denelle Dixon Joins IMF Panel on Cross-Border Payments
Stellar CEO Denelle Dixon is slated to take part in the IMF's annual meeting today, to discuss the private-sector’s role in addressing the limitations of cross-border payments.

Facebook Libra: The Latest Crypto Used in Illegal Financial Activities?
“With the evolution of virtual currencies and new marketplaces, nefarious actors are continuously adapting to find new ways to engage in illegal financial activity.” said U.S. Representatives Emanuel Cleaver, during the briefing with Financial Crimes Enforcement Network (FinCEN) on 27 June.

Judge Denies Telegram's Appeal to Issue Grams to Non-US Entities, Says it's Too Late to Question SEC Jurisdiction
US Federal Judge P. Kevin Castel has denied Telegram’s request to issue its Gram tokens to overseas investors.

E.U and US Can Coordinate Effort "on a Shared International Approach to Regulating Crypto": EU Commissioner
Mairead McGuinness, a Commissioner for financial services, financial stability, and capital markets union at the European Commission has called on the United States and the European Union to coordinate efforts with respect to regulating digital currencies.

Cryptocurrency Firms Starting to See Singapore as Unhospitable, Nikkei Says
Cryptocurrency companies that were attracted to Singapore for their crypto-friendly stance have begun to realise the difficulty of legally operating in the city-state, Nikkei Asia reported.

Crypto Mom Hester Peirce Officially Sworn in as SEC Commissioner
Crypto Mom and blockchain forward SEC Commissioner Hester Peirce has been sworn in for a second term at the US SEC.

Ripple and The SEC’s Joint Letter Reveals that a Pretrial Settlement Is Unlikely to Happen
Per the official court order, Ripple and the SEC has submitted a letter presenting their arguments ahead of the pre-trial court date.

‘Big Four’ Tech Amazon, Google, Apple & Facebook Grilled During US Antitrust Hearing
In an antitrust hearing with the Judiciary Committee of US Congress, the CEOs of Amazon, Apple, Facebook and Google testified, as a continuation of an unfinished legal conversation with lawmakers.

Trump Nominates SEC Commissioner Hester Peirce For Second Term
Crypto Mom, Hester Peirce has been nominated for a second term with the U.S. Securities and Exchange Commission (SEC) as one of its five commissioners, until 2025.

Hong Kong Financial Watchdog Proposes Restricting Cryptocurrency Trading to Professional Investors
Hong Kong retail traders may be prohibited from trading cryptocurrencies if the city’s Financial Services and the Treasury Bureau’s proposed rule is approved.

SEC to Make a Move on Suing Ripple over XRP Cryptocurrency as Christmas Holidays Kick In
Ripple CEO Brad Garlinghouse revealed that a lawsuit may be in the works against his fintech company for XRP cryptocurrency sooner than later.

New Bitcoin Tax Plan Stifles Blockchain Technology
After a fierce debate exploded over how to tax cryptocurrency, a bid to pass an infrastructure bill worth approximately $1 trillion has stalled in the US senate.

Indian Cricket Regulator Bans Teams from Partnering With Crypto Firms
The Board of Control for Cricket in India (BCCI) has issued a directive to all franchises in the Indian Premier League (IPL) to desist from partnering with crypto exchanges in any form.

US Department of Justice Works with International Agencies to Crack Down NetWalker Ransomware
The US Department of Justice has led international efforts that have seen half a million dollars in cryptocurrency seized from the NetWalker ransomware group.

United States Moves Forward With Crypto Regulation
Two new crypto-related bills were discussed among the House Agriculture Committee this week as the United States moves forward with crypto regulation.

Russian Civil Servants Required to Declare Crypto Holdings Beginning in 2021
Russia’s public officials will be obligated to declare all their private cryptocurrency and digital asset holdings, effective from the start of 2021.

Beware of an Overseas Crypto Scam, Thai Regulator Stipulates
The Thai Securities and Exchange Commission (SEC) has discovered a crypto scam where overseas companies are involved.

Law Enforcement Officials Divided on Ripple XRP Outcome as SEC Lawsuit Court Date Looms
As the pretrial date for the SEC lawsuit against Ripple is set for February 22, many lawmakers have speculated on the possible outcome for XRP.

Basel Committee on Banking Supervision Seeks Advice on Designing Prudential Treatment for Crypto-assets
Basel Committee on Banking Supervision publishes paper going over the design for prudential treatment for crypto assets. The paper goes over areas such as risks of crypto-asset exposures, capital, and liquidity requirements, and general considerations for the prudential treatment.

Thai Regulator Warns Against Unlicensed Crypto Firms as Cryptocurrency Trading Ramps Up
As cryptocurrency trading ramps up in the region, the Securities and Exchange Commission of Thailand (SEC) warns investors against unregulated crypto players.

Australian Tax Office Requests Crypto Investors Follow the Rules
The Australia Tax Office wants crypto investors to accurately declare their assets for appropriate taxation.

UK Parliament Committee Set Out Inquiry Into Risks and Benefits of NFTs
A group in the UK's House of Commons are now planning to launch an inquiry into the operation, risks, and benefits of NFTs and the blockchain at large, as well as to see how the industry could impart the UK economy.

Indian Bill To Ban Cryptocurrency Excluded From Winter Parliament Agenda
The bill to ban cryptocurrency trade in India has been left of its parliamentary winter session agenda, fueling speculation that there has been a change in strategy.

US FinCEN Files Show Deutsche Bank Tops List of Suspicious Transactions, So Cut Bitcoin Some Slack
German central bank, Deutsche Bundesbank appears to have facilitated over one trillion dollars of suspicious transactions flagged by US FinCEN.

US Treasury Invites Public Opinions on Digital Assets Framework
The US Treasury Department has requested US citizens to comment on how Biden's Executive Order on digital assets could be streamlined and modernized.

WeChat to Ban Crypto and NFT-Linked Accounts, following Updated Terms of Use
China’s WeChat, the Tencent-backed social messaging platform, has indirectly announced its plans to crack down on accounts on the platform that are linked to digital currencies and NFTs.

Former Fed Chair Janet Yellen Confirmed in Senate as new US Treasury Secretary
After being nominated by President Joe Biden, the United States Senate has now confirmed former Federal Reserve Chair Janet Yellen to serve as Treasury Security.

Leaked EU Commission Draft on Crypto Assets Law: How Will Cryptocurrency be Regulated?
A leaked European Union legislative draft on digital assets reveals the country's plans for cryptocurrency trading and issuance across the nation.

US Tax Office Warns Coinbase Users To Declare Crypto Holdings Before IRS Clampdown
The IRS may soon start clamping down on crypto users particularly those affiliated with Coinbase exchange who do not properly report their crypto holdings.

XRP Holders File Motion to Intervene in Ripple Case as SEC Blamed for Causing "Multi-Billion-Dollar Losses"
On behalf of XRP holders, attorney John E. Deaton has filed a motion to intervene in the lawsuit opposing Ripple Labs and the SEC.

South Korea Proposes 20% Capital Gains Tax on Cryptocurrency Commodities
South Korea’s parliament has put forward a bill that could see crypto profits taxed by up to 20% as members argue that cryptocurrencies are commodities.

Upbit Becomes the First Exchange to Register with FIU as September Deadline Looms
Upbit has now registered with FIU as other exchanges move to follow this lead before the September 24 regulation deadline.

OFAC to Begin Sanctioning Companies Facilitating Ransomware Payments
The OFAC may begin sanctioning US nationals and institutions that help facilitate payments in a ransomware attack.

Chinese Regulators Shut Down A Domestic Software Firm Over Alleged Involvement in Illegal Crypto Trading
A local Chinese software company suspected of involvement in cryptocurrency trading activities was forced to shut down by two Two financial regulators in China, including the People’s Bank of China (PBoC).

Has Judgement Finally Come for 2017 ICOs? Class Action Lawsuits Name Binance, BitMEX and Block.One Among Host of Crypto Defendants
Crypto Giants Binance, BitMEX, along with Executives CZ, Arthur Hayes Named Among Defendants in 11 Class Action Suits For Violating Securities Laws.

New Zealand's Tax Authority Demands Info on Crypto Investors
New Zealand's Internal Revenue Department has asked all companies to pass on customers' personal details as well as the type and value of their crypto assets.

Japan to Introduce Legislation Governing Banks and Crypto Exchanges
The Japanese government is pushing for new legislation that will request cryptocurrency trading platforms operating in the country become governed by the same rules that apply to banks.

To Criminalize or Not to Criminalize Bitcoin and Crypto? Moscow Reconsiders
The State Duma is discussing its legislative plans regarding Bitcoin and cryptocurrency usage and has been reported to seemingly have a change of heart regarding digital assets adoption in Russia.

Singapore Considers Enhancing Crypto Consumer Protection via Suitability Tests & Leverage Cuts
The Monetary Authority of Singapore (MAS) is weighing the option of propelling ways of protecting consumers trading cryptocurrencies through new measures like suitability tests.

FATF Virtual Assets Guidelines for Cryptosphere Review
With the growing concern of virtual assets/cryptocurrencies being used as a medium for the financing of illegal activities, the Financial Action Task Force (FATF) issues revised guidance from time to time to combat money laundering and terrorist financing involving virtual assets (VAs) and virtual asset service providers (VASPs).

US House Committee Chairman Seeks Insights into Crypto Retirement Plans
Bitcoin is increasingly becoming a larger part of many institutional portfolios, including pension funds. A number of public pension funds, which have been investing in private equities to increase their investment yields, are now investing in cryptocurrencies.

UK FCA Regulator Announces “Temporary Registration Regime” Extending Operating Deadline for Crypto Firms
The UK’s FCA has just announced a “temporary registration regime” which allows crypto firms who have previously applied to continue operating until July 2021.

UK FCA Clears Binance, Saying Exchange Has Complied with its Demands
The FCA has come out to affirm Binance has met its regulatory requirements by issuing a notice clearing the exchange.

Third Co-Founder of Centra Tech Pleads Guilty for $25 Million ICO Fraud
It has recently been announced that the third co-founder of Centra Tech has agreed to plead guilty for his role in the $25 Million Initial Coin Offering (ICO) Scam his cryptocurrency firm was involved in.

Oman Central Bank Issues Warning Against Crypto Trading, Specifically Dagcoin
The Central Bank of Oman has warned citizens that cryptocurrencies come with a high risk and specifically highlighted the risks as they pertain to Dagcoin.

European Commission Moves to Tighten Rules on Cryptocurrency Transfers
The European Commission has announced that firms transferring Bitcoin and other cryptocurrencies must collect details of payers and payees to help regulators prevent the flow of dirty money.

SEC Finalizes Lawsuit Against the Founder and CEO of Fraudulent ICO
The US Securities and Exchange Commission (SEC) has revealed that it has received a final judgment in a US district court action against Eran Eyal, the CEO and founder of Shopin token offering for carrying out an allegedly fraudulent ICO.

European Union Close in Agreeing on Crypto Regulations - Bloomberg
As the clamor for crypto regulations has continued to intensify, the European Union (EU) is close to agreeing on a comprehensive regulation that will govern the nascent digital currency ecosystem

Pakistani Judge Challenges Federal Authorities Over Cryptocurrency Ban
Justice Muhammad Iqbal Kalhoro of the Sindh High Court (SHC) has challenged the State Bank of Pakistan's ban on cryptocurrencies in 2018.

India’s Central Bank Aims to Undo the Supreme Court Ruling on Lifting the Crypto Ban
India’s central bank, the Reserve Bank of India (RBI) has planned to report a review petition on the recent Supreme Court’s cryptocurrency ruling, according to the Economic Times.

Binance Accused by Chinese State Media of Operating Cryptocurrency Exchange in China
Chinese state media has reported that Binance is still supporting local users trading cryptocurrency, despite China banning all exchanges in 2017.

New Jersey State Considering New Bill to Set New Requirements for Cryptocurrency Businesses
The New Jersey state legislature received a new bill, the Digital Asset and Blockchain Technology Act by Assemblywoman Yvonne Lopez. This new bill would require cryptocurrency and virtual currency to obtain a license to operate, allowing for more consumer-friendly protections.

Russian Auditor of Accounts Chamber Warns of the Risks in Crypto Investment
Alexei Savatyugin, the Auditor of the Accounts Chamber in the Russian Parliament has shared concerns about unregulated digital currencies, and the risks they pose to investors.

Japanese Lawmakers to Introduce New Bill, Empowering Crypto Seizure
In a bid to strengthen its regulatory landscape, Japanese lawmakers are reportedly looking forward to amending the Act on Punishment of Organized Crimes and Control of Proceeds of Crime (1999)

Court Denies XRP Holders’ Request to Take Part in SEC-Ripple Case
The court has denied the motion to intervene filed by XRP investors looking to take part in the Ripple case.

Portugal's Bison Bank Acquires Crypto License from the Central Bank
Bison Bank, a Portuguese financial institution, has been given license by the nation's Central Bank, Banco de Portugal to provide virtual asset services.

Crypto Token Backed by $25M Diamond Ponzi Scam Flagged by DoJ
The US Department of Justice charged a Florida native with wire fraud, for soliciting investors in a diamond-backed cryptocurrency Ponzi and investment scam.

Hong Kong is a Step Closer to Legalizing Retail Crypto Trading - Report
New reports show the speculations that Hong Kong might permit retail crypto trading may be true

SEC Adopts Expedited Public Listing Review Process—Blockchain ETFs Could Qualify
The United States Securities and Exchange Commission has voted to adopt rule amendments to expedite the review procedure for companies applying for public listing, which could potentially create an expedited and cheaper application process for crypto and blockchain ETFs.

DOJ's Crypto Regulation Report Overview: Bitcoin, Tether, Ether, Litecoin, and Ripple
US authorities are tightening regulations on cryptocurrencies. Here is an overview of what their recently released report suggests.

Central Bank of Nigeria Bans Cryptocurrency Transactions, Says Crypto Breeds Illegal Activities
The Central Bank of Nigeria (CBN) has once again doubled down on its efforts to ban cryptocurrency transactions stating they are a breeding ground for illegal activities.

OCC Head Brian Brooks Testifies Before Senate On Cryptocurrency and Stablecoins
The OCC Boss, Brian Brooks has testified before the US Senate Banking Committee about the growing use of cryptocurrencies and stablecoins in the country

US Treasury Department Proposes New KYC Requirements for Cryptocurrency Transactions
The U.S Treasury Department has released a notice concerning a new rule that would require money services businesses and banks to verify identities, keep records, and submit reports of users holding crypto assets in unhosted wallets.

ECB Official Advocates Global Regulatory Approach on Digital Currencies
Fabio Panetta, a board member of the European Central Bank (ECB), does not want global regulators to permit the proliferation of digital currencies and their associated risks without curbing them.

Twitter Bitcoin Hack Demonstrates That Crypto Fraud is Easier to Track Than Fiat
Cryptocurrency regulation was the hot topic during an ongoing panel hosted by the Association of Certified Financial Crime Specialists.

Crypto Investment Fraud Generates $27 Million, SEC Charges Scammers Posing as Pastors
The US Securities and Exchange Commission filed a complaint against three men posing as pastors who defrauded churchgoers in a cryptocurrency Ponzi scheme.

Paraguay Senate Passes Bill to Regulate Crypto Mining and Trading
Paraguay is advancing its crypto bill. Though it appears taking clues from its counterpart, El Salvador.

Mike Bloomberg: US Presidential Candidate Highlights Crypto Adoption In Agenda for Financial Reform
The United State presidential candidate for the upcoming 2020 election Mike Bloomberg is set to tender a proposal seeking to accommodate regulations for cryptocurrencies in a new financial plan that will be duly regulated.

Malaysian Communications Minister to Propose Crypto Legalization
Datuk Zahidi Zainul Abidin, the deputy minister of the Malaysian Ministry of Communications and Multimedia, is rallying the government to legalize cryptocurrencies to benefit the tech and crypto-savvy population.

Former SEC Official Reveals why He Thinks Ripple Has a Good Chance of Winning SEC Lawsuit over XRP
Joseph Hall, a partner at Davis Polk law firm, thinks that Ripple has a good chance of winning the legal case the SEC has built against XRP cryptocurrency.

FinCEN Proposes Cryptocurrency Guidelines to Fight Money Laundering and Regulate Unhosted Wallets
The Financial Crimes Enforcement Network (FinCEN) has proposed regulatory measures for businesses operating with cryptocurrencies, such as exchanges.

California Gov Vetoes Digital Currency Licensing Bill
California Governor Gavin Newsom has vetoed Bill 2269 proposed by State Congressman Tim Grayson on grounds that a more flexible approach is needed to address crypto regulations.

Infrastructure Bill: Is Treasury Sec Against the Proposed Amendments?
US Treasury Sec is opposed to the pro-Bitcoin amendments to the infrastructure bill. Here are some insights behind the story.

Director of FinCEN Affirms That Cryptocurrency Industry Is in Line With Agency Regulations
The director of FinCEN (Financial Crimes Enforcement Network) Kenneth. A Blanco believes that the cryptocurrency industry is starting to fall in place with the agency’s regulations on money transmission services.

Indian FM says Crypto Taxation is "Sovereign Right"
India's Finance Minister Nirmala Sitharaman came out guns blazing to clarify that cryptocurrency taxation is a "sovereign right" and a "corrective action".

Virginia Senate Votes to Support New Bill by Permitting Banks to Offer Crypto Custody Services
Based on the unanimous vote from the Virginia Senate, the proposed bill amendment introduced on January 22 this year by Delegate Christopher T. Head sought to allow eligible banks to offer cryptocurrency custody services.

Russian Finance Ministry Compromises, Willing to Take Crypto Suggestions from Central Bank
Russia's finance ministry has said that it is willing to take suggestions on cryptocurrencies from the country's central bank but they should not clash with their approach.

'Small Number' of Crypto Firms Gain Temporary License from FCA
A "small number" of cryptocurrency companies in Britain have received an extension of temporary licences ahead of the April 1 deadline from the country's financial watchdog.

US Supreme Court Rules Against SEC’s Ability to Fine Crypto and Blockchain Firms
The US Supreme court has limited the amount in punitive fines that the US Securities and Exchange Commission (SEC) can impose on cryptocurrency and blockchain firms, in a historic ruling yesterday.

NAC Foudation Accuses US SEC of Misleading Court in AML BitCoin Case
The legal battle between The NAC Foundation and the SEC is still far from over, and the Foundation argues that the SEC misled the court in its ongoing case against AML Bitcoin.

US SEC Releases List of Suspicious Crypto Firms Targeting International Investors
The US SEC has issued a list of fake crypto firms that majorly target non-US investors. The regulator has warned investors to beware of “red flag” signs of potential crypto fraud.

The Reserve Bank of India Clarifies Stance About Crypto Ban
RBI has eased off its harsh grip on crypto activities for banks and other regulated institutions in India.

UK Chancellor Rishi Sunak Proposes Crypto Adoption and CBDCs as Priority for Treasury Reform
The Chancellor of the Exchequer Rishi Sunak has listed crypto adoption and CBDCs amongst the Treasury's focus demanding reforms in the future.

SEC Chair Gensler Seeks More Funding for Regulatory Programs
The US Securities and Exchange Commission is seeking additional money to fund its programmes to facilitate initiatives and cover additional costs.

Cryptopia Users Win New Zealand Ruling Over Locked Cryptocurrency as High Court Declares them "Property"
Clients of Cryptopia exchange will finally get their funds back after a New Zealand high court classifies the rules that they are entitled to their funds.

SARB to Introduce Crypto Regulation
South Africa has changed their mind in terms of crypto regulation. The regulator intends to introduce a legal framework to govern the use of cryptocurrencies in the country.

US Congressmen Ask Federal Reserve to Create National Digital Currency
Two members of the United States House of Representatives Financial Services Committee recently asked the Federal Reserve if it has any plans to create a U.S. dollar digital currency.

US Government Offers $5 Million Reward for the Arrest of Venezuela’s Head of Petro Cryptocurrency
US Immigration and Customs Enforcement (ICE) has added Venezuela’s head of Petro cryptocurrency agency, Joselit Ramirez, to its most wanted person’s list. The US government seeks to offer a $5 million reward for information leading to Ramirez’s arrest.

Ripple CEO Says DOJ Report Offers No Regulatory Clarity, XRP Price Not Influenced
The tightening regulations on cryptocurrency raise many concerns in the community, the DoJ’s new guidance around cryptocurrency enforcement has Ripple’s CEO concerned.

UK FCA Regulator Proposes Mandatory AML Data Reports from Cryptocurrency Firms
The United Kingdom’s Financial Conduct Authority (FCA) has proposed obligatory AML reporting requirements for crypto exchanges.

Two US Nationals Charged With SIM-Swap Cryptocurrency Theft
Federal prosecutors have charged two US citizens with a SIM swap and phishing scam that led to a theft of over $16,000 worth of cryptocurrency.

Russian Blanket Crypto Ban May now be Limited to PoW Mining Activities
New reports emerging out of Russia now suggest that the Central Bank of Russia (CBR) is looking to amend its proposed plans to enact a blanket bank on digital currencies

Zimbabwe’s Central Bank Finally Takes a Big U-Turn to Regulate Cryptocurrencies
Reserve Bank of Zimbabwe, the country’s central bank, revealed that it would develop a regulatory framework to check operations of companies dealing with cryptocurrencies. The Chronicle, the local newspaper, reported that the Reserve Bank of Zimbabwe (RBZ) has already begun drafting a policy framework to guide business activities of cryptocurrency firms.

Lawsuits against Ripple Grow as XRP Investor in Florida Sues Firm
The SEC lawsuit is not the only complaint that Ripple Labs is currently facing over XRP.

Thailand Plans to Amend Regulations Governing Crypto Assets
Thailand's crypto regulation is under scrutiny as the government plans to amend rules governing digital assets.

Director of National Intelligence Warns US SEC of China’s Cryptocurrency Dominance
National Intelligence Director John Ratcliffe has warned the US Securities and Exchange Commission that China’s cryptocurrency dominance could put the US at a disadvantage.

Private Cryptocurrencies May Soon Vanish From Russia
According to Russia's TASS news agency, Bank of Russia Deputy Governor Vladimir Chistyukhin signalled that private cryptocurrencies may soon go out of existence in the financial markets.

Crypto Regulation Remains to Unfold in 2022
As cryptocurrencies enter into a new year after experiencing new highs last year, new changes await, among which regulation is top of the list.

Russia Updates Regulations on Crypto Transactions, Harsh Fines Reserved for Defaulters
Russia’s Ministry of Finance has issued an amendment to its current cryptocurrency regulations. The amendments also come with stricter sanctions.

AML BitCoin Lobbyist Abramoff to Pay $55K in Convicted Guilt Plea for ICO Fraud
In the civil case filed against Jack Abramoff for his role in the 2018 Initial Coin Offering (ICO) scandal, the AML BitCoin lobbyist is expected to pay $55, 000 in disgorgement and interest for his conspiracy in fraud.

DEA Special Agent O’Kain: Regulated Bitcoin Exchanges Are Good For Law Enforcement
DEA Special Agent Patrick O’Kain spoke at the LA Blockchain Summit on Bitcoin on the role of government agencies in policing the digital asset and blockchain space.

Bitfinex Permitted to Withhold Documents About Alleged $850 Million Cover-up
The Appellate Division of the New York Supreme Court has ruled that Bitfinex is legally allowed to withhold documents pertaining to the alleged cover-up of an $850 million loss on its trading platform.

The Bank of Uganda Blacklists Financial Firms for Facilitating Crypto Trading
Uganda’s Central Bank has stated that it did not approve any licensed institution to sell cryptocurrencies or facilitate the trade-in of cryptocurrencies. Offenders would be backlisted.

IRS Cracking Down on Cryptocurrency Tax Evasion, Seeks Private Crypto Tax Contractors
The Internal Revenue Service (IRS) has requested help from independent consultants to crack down on non-compliance in cryptocurrency tax.

UK Government Wants FCA Oversight on Crypto Investment Advertising
The UK Government has proposed that crypto asset promotions should fall under the scope of the Financial Conduct Authority’s existing oversight and does not require a whole new framework just for digital assets.

CFTC Chairman Calls For Principle-Based Not Rules-Based Regulation For Crypto
Commodity Futures Trading Commission (CFTC) Chairman Heath Tarbert has stated his preference for the financial governance to be principle based rather than a strictly enforced set of rules. This extends to cryptocurrency and digital assets.

Japan’s Financial Services Agency Has Officially Chosen a New Commissioner, Himono
Japan's Financial Services Agency (FSA) confirmed its plans for hiring Ryozo Himono as the new commissioner of the financial watchdog group.

Vietnamese Government Developing Regulatory Framework for Crypto
The Vietnamese government is pushing to develop a legal and regulatory framework as the country seeks to establish its stance with respect to its press for a crypto economy.

Winklevoss Twins' Gemini and Archax Exchange Now Licensed by UK Financial Conduct Authority
The UK Financial Conduct Authority has granted a license to the Winklevoss twins’ Gemini cryptocurrency exchange.

Over 2.2M Crypto Accounts Set to Trade With Restrictions in South Korea as Exchange’s Deadline Looms
As the South Korea crypto registration deadline looms, over 2 million accounts will be subject to restrictions in trading on multiple exchanges.

UK Court Recognized Cryptocurrency as Property in Freezing Order
In a property ownership tussle, UK high court found itself in the second attempt to recognize cryptocurrency as property. This time round, the court imposed a freezing order to crypto firm directors who failed to prove that they were not owners of the disputed cryptocurrencies.

UK Regulator Cracks the Whip on Deceptive Cryptocurrency Ads
The United Kingdom regulator intends to bring crypto promotions into line with other financial advertisements, to make sure these advertisements are transparent and fair.

Agency Needs to Prepare Regulating Crypto, Says CFTC Chair
Rostin Behnam, the Chairman of the Commodity Futures Trading Commission (CFTC) noted that he has directed members to start preparing to be the major regulator in the crypto industry.

Thailand’s SEC Moves to Revoke Huobi's License
Thailand's SEC is about to revoke Huobi's license to operate in the country.

Switzerland's Canton of Zug Will Accept Bitcoin and Ethereum For Tax Payments From 2021
The canton of Zug in Switzerland plans to start accepting taxes in cryptocurrencies from the beginning of next year.

Ethereum Developer Indicted for Blockchain and Crypto Expertise Sharing in North Korea
A judge has ruled that the U.S. Department of Justice has enough evidence to move to trial against Ethereum developer Virgil Griffith after he allegedly aided in the circumvention of U.S. Sanctions that have been placed on the Democratic People’s Republic of North Korea.

CFTC Commissioner Brian Quintenz: US SEC Has No Authority Over Cryptocurrencies
The recent heated debate between the US SEC officials and the CFTC over who should police crypto tokens highlights the difficulty in applying existing regulations to the nascent sector.

Shenzhen Warns Against the Resurgence of Illegal Activities Owing to the Promotion of Blockchain Technology
The Office of the Leading Group for Special Remediation of Internet Finance Risks in Shenzhen has warned about the seeming resurfacing of illegal activities as a result of interest in cryptocurrency.

German Banks Authorized for Crypto Custody and Sales in 2020
In 2020, German banks will be legislatively authorized to sell and provide custody of cryptocurrencies as reported by German newspaper Handelsblatt.

Sofi BitLicense Receives NYDFS Approval
The New York Department of Financial Services (NYDFS) has approved the SoFi BitLicense, a subsidiary of Social Finance, thereby agreeing and allowing its residents to get involved in digital currency trading.

OCC Issues Update to Organize a Virtual Innovation Office Hours
The US OCC has created virtual office hours to discuss fintech and possibly crypto-related innovations

Members of Congress Ask IRS for Relaxed Approach to Crypto Staking Taxes
Innovation friendly members of United States Congress have written to the IRS request a level-headed approach to tax on cryptocurrency staking rewards.

Cambodia Bars Using and Trading of Crypto
Cambodia has placed strict limitations on the way cryptocurrencies are used. The country has banned its citizens from making cryptocurrency transactions.

Ex-Ripple Board of Directors Member Selected by Joe Biden to be Next Comptroller of the Currency
A former member of Ripple’s board of directors is expected to succeed Brian Brooks and become the next Comptroller of the Currency (OCC).

White House Asks Regulators to Enforce Crypto Rules Citing FTX Crises
White House's Press Sec Karine Jean-Pierre said the administration is monitoring the FTX saga

Government Officials in Russia Expected to Declare Their Cryptocurrency Savings
Government officials in the Ural region of Russia are now expected to declare their savings stored in cryptocurrencies.

US SEC Wins Lawsuit Against Kik’s $100 Million Unregistered ICO
US Judge Alvin Hellerstein rules in favor of the Securities and Exchange Commission in the regulator's lawsuit against Kik’s 100 million 2017 ICO.

SEC Chair Gary Gensler Asks Congress to Regulate Crypto Exchanges
Gary Gensler, the chairman of the SEC, has urged US Congress to create a regulatory framework for crypto exchanges in the United States.

ASIC Bans BitConnect National Executive for His Part in Multi-Billion Dollar Crypto Ponzi Scheme
Australian Securities and Investments Commission (ASIC) has officially banned a former National Representative of BitConnect from providing financial services for seven years.

Ukraine's Draft Bill on Digital Currencies Undergoes First Parliamentary Hearing
Ukraine's proposed draft bill for regulating digital assets in the country has passed its first parliamentary hearing.

UK's ASA Issues Crypto Ad Guidelines for 50 Firms
The UK's Advertising Standards Authority (ASA) has issued a guideline for companies on advertising cryptocurrency services.

U.S. Blockchain-organisation BBA Publishes Crypto Toolkit Guidelines for Regulatory Consideration
The Boston Blockchain Association (BBA) has published a toolkit that will guide Massachusetts lawmakers in their efforts to create crypto laws.

Binance Exchange Restricts its Services to Russia
Binance exchange is implementing a new account restriction policy for its Russian users in response to the European Union’s fifth financial restriction on Russia for its invasion of Ukraine.

Spanish Lawmakers Receive Bitcoin in Cryptocurrency Education Campaign
All 350 Deputies of the Spanish Congress have received Bitcoin as part of an educational campaign aiming to teach legislators about the uses and functions of crypto.

Indonesian Religious Group Nahdlatul Ulama in East Java tagged crypto as Haram
A religious Islamic organization in Indonesia, Nahdlatul Ulama in East Java, has issued a fatwa on the status of digital currencies under the Sharia Law saying the new digital assets are "haram" which means forbidden in Islam.

CFTC Committee to Hold Virtual Meeting on Digital Currencies and Blockchain
The CFTC has scheduled a virtual meeting for Thursday, July 16th where its Technical Advisory Committee will discuss matters around on cryptocurrencies and DLT.

NYAG Letitia James Warns Investors About Crypto Investment Risks
New York Attorney General, Letitia James to issue a new guidance on the risks inherent in the crypto industry

India’s Crypto Bill Hearing Postponed by Supreme Court
The Indian supreme court has set a new date to hear the crypto case, which was originally scheduled for July 23. The purpose of the hearing was to address the writ petitions against the central bank’s crypto restriction.

Will Crypto Assets Have a Future in Russia After All? State Duma Passes DFA Bill
The State Duma of Russia passed a law regarding digital financial assets (DFA) in the financial bill’s third reading, which determined the fate of Bitcoin and other cryptocurrencies.

US Federal Regulator Says Banks Can Offer Cryptocurrency Custody Services to Customers
The US Office of the Comptroller of the Currency (OCC) has announced that states and national banks and federal savings associations can provide crypto custody services to customers.

Reserve Bank of India Says Banks Are Authorized to Provide Accounts to Cryptocurrency Traders
The Reserve Bank of India recently responded to an information query, saying that Indian banks are not prohibited from dealing with crypto businesses.