Bitcoin Blockchain and Cryptocurrency News Center
The Internal Revenue Service is aware that millions of cryptocurrency transactions may still remain unreported. Taxpayers may think they will not be caught, and many Coinbase users may have thought their information would be protected until the John Doe summons proved otherwise. The best way to avoid penalties is to disclose and report as accurately as you […]
Cryptocurrency exchange, Bitfinex, has reportedly strengthened its know your customer (KYC) requirements, sending an email to verified users asking for more identifying information. Additional personal data requested According to a Dec. 27 report from the Block, the purpose of the email from Bitfinex was to enhance the exchange’s due-diligence procedures, and bring all of its client accounts […]
Next year German banks will be able to manage cryptocurrencies like bitcoin after the fourth EU money laundering directive goes into effect. The directive passed in the German parliament, Bundestag, allows banks in the country to act as cryptocurrency custodians rather than rely on third-party custodial services. German Banks Will Soon Be Able to Manage […]
The Bitcoin Fund’s initial public offering (IPO) filing has been accepted by Canada’s Ontario Securities Commission. Despite previously rejecting it, the Canadian regulator finally accepted the fund’s IPO prospectus after a public hearing and a favorable ruling, the news.bitcoin.com reported. The Bitcoin Fund IPO Crypto-focused Canadian investment fund manager 3IQ Corp. announced on Thursday that […]
UPDATE (Nov. 7, 2019, 16:55 UTC): The draft declaration, published online Wednesday evening, does not include any recommendations that the EU issue its own stablecoin. However, the document does leave the door open for the ECB and other central banks to “assess the costs and benefits of central bank digital currencies.”The European Union is taking a closer […]
Noelle Acheson is a veteran of company analysis and CoinDesk’s Director of Research. The opinions expressed in this article are the author’s own. The following article originally appeared in Institutional Crypto by CoinDesk, a weekly newsletter focused on institutional investment in crypto assets. Earlier this month, Heath Tarbert – the new chairman of the U.S. […]
Facebook’s CEO Mark Zuckerberg returned to Capitol Hill to testify before Congress on Oct. 23 about the company’s planned use of the cryptocurrency it is backing, Libra, attempting to debunk the voluminous number of concerns surrounding Facebook’s regulatory measures. This marks Zuckerberg’s first testimony to Congress since his last journey to Capitol Hill back in April 2018 after the […]
Bitcoin (BTC) and cryptocurrencies are causing some confusion for regulators globally. Designed usually as peer-to-peer payment platforms, cryptocurrencies seek to improve trust, security and privacy by significantly reducing or eliminating third parties. However, by connecting users directly, cryptocurrencies make regulatory oversight far more complex, the CoinTelegraph writes. The regulatory control that most governments seek is […]
The Financial Integrity Network (FIN) — a Washington D.C.-based advisory firm — has urged the United States Congress to regulate firms in the cryptocurrency sector under the Bank Secrecy Act (BSA). Virtual asset service providers should be regulated under BSA In a copy of FIN testimony published ahead of a hearing on Sept. 3, FIN recommended that […]
The Dutch central bank has today revealed it will begin regulating firms that offer cryptocurrency-related services as of January 10, 2020, the CoinTelegraph writes. Reuters reported on Sept. 3 that De Nederlandsche Bank clarified that relevant firms in the sector must register with the institution if they wish to continue to operate. The bank’s official statement reportedly […]