US Treasury and IRS Finalize Crypto Tax Reporting Rules for Brokers: An In-Depth Outline Background The Internal Revenue Service (IRS) and the U.S. Department of the Treasury have finalized new rules requiring brokers to report certain cryptocurrency transactions to the IRS. This long-awaited regulation, which came into effect on January 1, 2023, represents a significant…
SEC’s Request for Revisions: The Securities and Exchange Commission (SEC) has once again delayed its decision on the proposed Spot Ethereum Exchange-Traded Fund (ETF) from Grayscale Investments, citing the need for additional information and revisions. This news comes as a setback for investors who were eagerly anticipating the launch of the first Ethereum (ETH) ETF…
SEC Lawsuit: ConsenSys Accused of Violating Securities Laws Through MetaMask Background: The United States Securities and Exchange Commission (SEC) has recently filed a lawsuit against ConsenSys, a leading Ethereum software development studio. The allegation? ConsenSys is accused of violating securities laws through its popular product, MetaMask. Allegations: The SEC asserts that ConsenSys, through MetaMask, sold…
Nigeria’s SEC Chief Explores the Potential of Cryptocurrencies in Banking the Unbanked Population (Approximately 40 Million) Mary Uduk, the Acting Director-General of the Securities and Exchange Commission (SEC) in Nigeria, has expressed her belief in the potential of cryptocurrencies to bank the unbanked population in the country, which is estimated to be around 40 million…
Analysis of the Prospects for Approval of a Solana Exchange-Traded Fund (ETF) in 2023: A Comprehensive Outline Background: Solana (SOL) is a high-performance blockchain platform aimed at providing decentralized finance (DeFi) solutions that rival Ethereum. With its fast transaction speeds and low fees, Solana has garnered significant attention from the crypto community. An ETF based…
Denmark’s Proposed Ban on Unregulated Bitcoin Wallets: An In-Depth Outline Background Denmark, a European Union (EU) member country, is planning to implement a ban on unregulated Bitcoin wallets. This move comes as part of the Danish Financial Authority’s (Danish FSA) efforts to strengthen its regulatory framework for digital currencies. The proposed ban aims to protect…
US Supreme Court Limits SEC’s Authority in Enforcing Securities Laws: An In-Depth Outline Background The Securities and Exchange Commission (SEC) is the primary regulatory body responsible for enforcing securities laws in the United States. However, the scope of the SEC’s authority has long been a subject of debate and controversy. In a recent landmark decision,…
In the news-finder.com/category/world-news/international-news/” target=”_blank” rel=”noopener”>world of cryptocurrencies, every little news event can trigger massive price movements. For crypto traders, anticipating such events and making informed decisions before they impact the markets is a crucial part of their strategy. One such event that has drawn significant attention from traders recently is the Presidential Debate between Donald…
It’s Time for China to Adjust Its Stance on Cryptocurrency: As the world embraces the digital economy, it is crucial that China, as a major global economic power, keeps up with the trend. The cryptocurrency market , in particular, has gained significant attention and momentum in recent years. However, China’s stance on cryptocurrencies has been…
Bitstamp Delists Euro Tether (EURT) in Response to MiCA Regulations In a recent announcement, leading European cryptocurrency exchange, Bitstamp, revealed that it would be delisting Euro Tether (EURT) due to regulatory compliance with the Markets in Crypto-Assets (MiCA) framework. This decision comes as part of an ongoing effort by cryptocurrency exchanges and regulators to ensure…
Why Ethereum ETFs’ Billion-Dollar Hopes Could End in Disappointment: An In-Depth Analysis The crypto market has seen significant growth over the past few years, with Bitcoin leading the charge. However, the focus has recently shifted towards Ethereum, the second-largest cryptocurrency by market capitalization. Ethereum’s potential as a digital gold or programmable money has attracted the…
Ripple CEO’s Controversial Claim: Gary Gensler Could Cost Biden the Election The cryptocurrency community was abuzz with controversy when Ripple CEO Brad Garlinghouse made a bold claim that Gary Gensler, President Joe Biden’s nominee for Chair of the Securities and Exchange Commission (SEC), could potentially cost Biden the upcoming midterm elections. In an interview, Garlinghouse…
FDIC and Federal Reserve Call for Revisions to Living Wills of Top Banks: An In-depth Analysis The FDIC and the Federal Reserve, two key regulatory bodies in the US financial sector, have recently called for major revisions to the living wills of 30 of the largest banks in the country. These institutions, which collectively hold…
Legal Clash Escalates: US-Nigeria Tug of War over Detained Binance Executive The US Department of Justice (DoJ) and the Nigerian Economic and Financial Crimes Commission (EFCC) have found themselves in an unprecedented legal standoff over the detention of Ngige Ukoha, a Binance executive. Ukoha, who was arrested in Lagos on December 14, 2022, is wanted…
Nigeria’s Economic and Financial Crimes Commission (EFCC) Stands Firm Against Binance: The Controversial Detention of Tigran Gambaryan The Economic and Financial Crimes Commission (EFCC) in Nigeria has made headlines recently due to its controversial detention of Tigran Gambaryan, a high-profile suspect in a major money laundering case linked to the cryptocurrency exchange Binance . The…
Germany’s Bitcoin Sell-Off: The Catalyst for the Weekend Market Decline Background The cryptocurrency market experienced a significant downturn over the weekend of March 12-14, 202The total market capitalization dropped by more than $1 trillion, with Bitcoin leading the decline. But what caused this sudden sell-off? Germany’s Bitcoin Regulation Reports emerged that Germany’s Federal Financial Supervisory…
Binance Agrees to Pay $2.2 Billion Penalty for Violating India’s Anti-Money Laundering (AML) Regulations Binance, the world’s largest cryptocurrency exchange by trading volume, has reportedly agreed to pay a massive penalty of around $2.2 billion for violating India’s Anti-Money Laundering (AML) regulations. This staggering sum is the largest penalty ever imposed on a cryptocurrency exchange…
Turkish Crypto Kingpin Faruk Fatih Ozer Sentenced to Record-Breaking Imprisonment Faruk Fatih Ozer, a crypto kingpin from Turkey, has been sentenced to an unprecedented imprisonment of 11,000 years for his role in a massive fraud scheme involving cryptocurrencies. The Scheme Ozer, 37, allegedly defrauded investors of around $2.9 billion through his company, Akrabit, which operated…
Brazil’s Cryptocurrency Regulatory Scrutiny: Top Exchanges Summoned to Clarify Services In a significant move towards regulating the cryptocurrency market in Brazil, the country’s financial regulator, the Central Bank of Brazil (BCB), has reportedly summoned four major cryptocurrency exchanges for clarifications regarding their operations. According to local media reports, the exchanges being investigated are Bitso, Binance,…
Upcoming Korean Token Inspection Triggers Altcoin Plunge: An In-depth Analysis The South Korean regulatory crackdown on cryptocurrency trading has once again cast a dark shadow over the altcoin market. The February 2018 ban on anonymous trading and the closure of several local exchanges led to a significant decline in cryptocurrency prices. However, recent announcements from…
