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The European Commission is gathering feedback from EU citizens, businesses, regulators and other interested parties to establish a regulatory framework for crypto assets and markets on a European level. The public consultation which started in December will continue until March 19, 2020, with the finalized proposal expected in the third quarter, the news.bitcoin.com reported. EU […]
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 […]
The Intercontinental Exchange (ICE)’s digital asset platform Bakkt has launched the first regulated Bitcoin (BTC) options and cash-settled futures in the United States, the Cointelegraph reported. According to an announcement on Dec. 9, Bakkt is now using its physically settled Bitcoin contracts as a benchmark to build complementary products. Bakkt’s monthly futures contract will be a benchmark […]
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 […]
Chinese authorities shut down local cryptocurrency exchange BISS and arrested 10 people suspected of being involved in its operations, the CoinTelegraph announced. Local media Sohu reported on the actions undertaken by Chinese authorities on Nov. 22. However, the date at which the event itself took place is unclear. The same day, founding partner of blockchain-based investment company […]
As the Libra stablecoin project continues to face a hostile audience of regulators, Facebook launches a new fiat payment system called Facebook Pay, the CoinTelegraph reported. Empower people everywhere to buy and sell things online On Nov. 12, the social media giant announced that it is introducing Facebook Pay, a payment system that is designed to facilitate […]
Only a few weeks after the United States Internal Revenue Service published new guidance for crypto taxation, the United Kingdom’s tax, payments and customs authority, Her Majesty’s Revenue and Customs, has updated its cryptocurrency taxation policy paper for businesses andindividuals. The HMRC’s approach in this policy paper is, as expected, conservative, and it stands in line with other countries’ tax […]
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. […]