Lawmakers from both sides of the aisle are fighting back against changes to tax reporting rules for crypto brokers and transactions over $10,000 in the newly passed Infrastructure Bill. Ten U.S. Democratic Congresspeople led by Rep. Darren Soto from Florida called for revisions to the definition of a broker in the infrastructure bill that was
Regulation
In a speech published Wednesday noon, Federal Reserve Governor Christopher J. Waller reiterated his skepticism for implementing a central bank digital currency, or CBDC, in the United States. However, Waller is not an ordinary cryptocurrency skeptic, as he cites the development of genuine private-sector payment innovations, specifically stablecoins, as the reason why CBDCs are not
Ripple, the company whose executives have often criticized the United States’ seeming lack of regulatory clarity on the cryptocurrency industry, has outlined its own “pragmatic” framework. In a Tuesday post on its website, Ripple released its vision for a regulatory framework aimed at advancing innovation while protecting investors in the United States. According to the
The United States Department of Justice is planning to sell $56 million worth of cryptocurrency seized in connection with its case against Ponzi scheme BitConnect. In a Tuesday announcement, the Justice Department said it would sell the seized crypto and hold the proceeds in U.S. dollars until it could use the funds to provide restitution
Dmitry Buterin is a self-made millionaire who fathered a billionaire who created a cryptocurrency that’s on its way to becoming a trillion-dollar asset. Suffice to say the possibility that Buterin would found three multi-million dollar businesses and retire in his 40s was beyond his wildest imaginings growing up in Grozny, Chechnya in the former Soviet
China is pressuring its own state-owned businesses to cease mining cryptocurrencies, and the government is considering harsh penalties on firms that continue, including higher energy expenses. According to reports, Meng Wei, a spokesperson for the National Development and Reform Commission (NDRC), said at a press conference that as China’s top economic planner, the NDRC intends to
After months of scrutiny from both the U.S. Senate and House of Representatives, the infrastructure bill — criticized by many crypto advocates — is now officially the law of the land. In a ceremony in front of the White House on Nov. 15, President Joe Biden signed the $1 trillion infrastructure bill before an audience
As the U.S. federal government — acting through its Securities and Exchange Commission — continues to valiantly protect investors and the public interest from the grave dangers of a spot Bitcoin exchange-traded fund, one major American city after another begin embracing or at least exploring the potential of crypto and blockchain technology to improve various
VanEck, one of the first United States-based asset managers to file for a Bitcoin (BTC) exchange-traded fund (ETF), is finally launching its Bitcoin futures ETF. According to an official notice by the Chicago Board Options Exchange (CBOE), VanEck’s Bitcoin Strategy ETF will start trading on CBOE under the ticker symbol XBTF on Nov. 16. VanEck’s
We ask the buidlers in the blockchain and cryptocurrency sector for their thoughts on the industry… and we throw in a few random zingers to keep them on their toes! This week, our 6 Questions go to Anton Bukov, co-founder of 1inch Network, a distributed network of decentralized protocols. Anton has been writing code for
Stablecoins are the cornerstone of the digital asset marketplace with a market cap of over $100 billion. Governments are already putting considerable resources in being up to speed with the trends. A November 2021 report published by the United States President’s Working Group on Financial Markets details the various measures to ensure stablecoin regulation is
Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week Crypto markets tag $3T combined market cap for first time
Issuers of stablecoins like Tether (USDT) and USD Coin (USDC) may soon be required to work under the same regulations as banks, but that seemingly doesn’t frighten the CEO of the USDC-issuer Circle. Commenting on the Biden administration’s proposal to work on a bank-like regulation for stablecoin issuers, Circle CEO Jeremy Allaire took a supportive
In a live recording with Reddit’s r/CryptoCurrency Talk Thursday, Shark Tank celebrity Kevin O’Leary discussed how cryptocurrencies now make up 10% of his investment portfolio: At the beginning of the year, I was at 3% weighting; the target was to get 7% by year-end. However, because of the appreciation of so many of the assets
The U.S. Securities and Exchange Commission, or SEC, has officially disapproved asset manager VanEck’s spot Bitcoin exchange-traded fund months after the firm submitted its application. According to a Nov. 12 filing, the SEC rejected a proposed rule change from the Cboe BZX Exchange to list and trade shares of VanEck’s Bitcoin (BTC) Trust. Specifically, the
The National Ulema Council (MUI), Indonesia’s top Islamic scholarly body, has reportedly found cryptocurrencies like Bitcoin (BTC) to be haram, or forbidden, by the tenets of Islam. Asrorun Niam Sholeh, chairman of MUI’s Fatwa Commission, confirmed the religious authority’s rejection of cryptocurrencies due to alleged elements of “uncertainty, wagering and harm.” In order for the