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Kenyan Blockchain Association to Issue First Draft of The Country’s Crypto Regulation
7.11.2023
Source: Pexels The Blockchain Association of Kenya (BAK) has announced that it will prepare the first draft of the country’s blockchain legislation as it seeks to join the list of nations with proper rule clarity. According to local media reports, the lobby group met with the National Assembly...
Another Court Finds SEC Acted ‘Arbitrarily and Capriciously’
3.11.2023
The United States Court of Appeals for the Fifth Circuit has found that the U.S. Securities and Exchange Commission (SEC) acted “arbitrarily and capriciously” in a case involving the stock buyback disclosure rule. “Another day and another court finds that the SEC again acted...
GAO Criticizes SEC’s Handling of Crypto Accounting Bulletin, Calls for Clearer Rule
1.11.2023
The Government Accountability Office (GAO) has determined that the Securities and Exchange Commission (SEC) erred in its handling of “Staff Accounting Bulletin 121” (SAB 121) by failing to submit it to Congress as is required for official rules. In a report titled “Securities...
IRS extends comments period for new crypto tax rule to mid-November
25.10.2023
The proposed rules are supposed to come into effect in 2026, impacting sales and exchanges conducted in 2025
Largest DeFi protocol on Solana reportedly quits UK market, citing FCA rule
24.10.2023
Marinade Finance holds over $265 million in total value locked, accounting for 70% of all funds locked on the Solana blockchain
Tesla CEO Elon Musk Calls for ‘Comprehensive Deregulation’ After Predicting SEC Overhaul
24.10.2023
Billionaire Elon Musk, the CEO of Tesla and Spacex, has underscored the need for “comprehensive deregulation.” He made this call in response to several actions by the U.S. Securities and Exchange Commission (SEC) that he believes are severely constraining our civilization. This comes...
10 Decentralized Finance Protocols Rule Over 52% of the WBTC in Circulation
23.10.2023
Over the span of ten months, since mid-December 2022, the cryptocurrency known as wrapped bitcoin (WBTC) experienced a reduction of nearly 23,000 coins from its circulation. Today, WBTC has 79,839 distinct wallet holders. Notably, a hefty 73.76% of these tokens are concentrated within the top...
What is the Pareto 80/20 rule, and how does it apply to cryptocurrencies?
19.10.2023
In the context of cryptocurrencies, Pareto principle implies that a minority of efforts or factors often yield the majority of results
EU Adopts DAC8 – New Cryptocurrency Tax Reporting Rule To Take Effect Soon
18.10.2023
European Union (EU) finance ministers approve new regulations requiring cryptocurrency firms to share data on customer cryptocurrency holdings with tax authorities.
On October 17, the EU adopted the Eighth Directive on Administrative Cooperation (DAC8), which is set to go into force in 2024....
Council of Europe adopts DAC8 crypto tax reporting rule
18.10.2023
The eighth iteration of the Directive on Administrative Cooperation was formally adopted by the Council of the European Union
7 Senators Urge Treasury and IRS to Rapidly Implement Crypto Tax Reporting Rule
13.10.2023
Seven U.S. senators have called on the Treasury Department and the Internal Revenue Service (IRS) to “implement the proposed crypto broker reporting rule as rapidly as possible.” The lawmakers stressed: “We are alarmed by the self-inflicted two-year delay for the rule’s implementation.” Senators...
Coinbase Executive Urges Congress to Pass ‘Sensible’ Crypto Legislation Swiftly as Middle East Conflict Escalates
13.10.2023
Coinbase’s chief legal officer has called on U.S. Congress to pass sensible crypto legislation following reports that Hamas has amassed millions in cryptocurrency amid the escalating Middle East conflict. “We need this industry flourishing in nations committed to the rule of law, not driven...
Report: Cyprus Mulls Imposing Hefty Fines on Unregistered Crypto Service Providers
12.10.2023
Crypto firms that operate in Cyprus without registration may soon be fined as much as $350,000 while individuals behind such firms could face up to five years in jail. The Finance Ministry says its proposals, which are included in a draft recently submitted to parliament, seek to align...
IRS Proposed Rule on Digital Asset Broker Reporting Could Kill Crypto in America
26.9.2023
The proposal creates unworkable requirements for decentralized finance in the U.S. and serves as an important cautionary tale
European Parliament Supports DAC8 Crypto Tax Rule by an Overwhelming Margin
14.9.2023
Lawmakers in the European Parliament have expressed support for the eighth iteration of the Directive on Administrative Cooperation (DAC8), a measure that introduces tax reporting requirements for crypto transactions.
During a plenary session held in Strasbourg, France, on September 13,...
EU parliament votes overwhelmingly in support of DAC8 crypto tax reporting rule
13.9.2023
The measure received 535 votes for with 57 against and 60 abstentions in a plenary session
Travel Rule Enforcement Begins for Crypto Firms in the UK – Here's What You Need to Know
4.9.2023
Virtual Asset Service Providers (VASPs) in the UK are from September 1 required to collect, verify and share information on crypto transactions to firms “in the UK, or any jurisdiction that has implemented the Travel Rule.”...
Read More: Travel Rule Enforcement Begins for Crypto Firms in the UK...
Ethereum staking services agree to 22% limit of all validators
1.9.2023
The 22% self-limit rule ensures at least four major staking entities would need to collude in order for the chain to reach finalization
UK's Travel Rule comes into effect, could halt certain crypto transfers
1.9.2023
The crypto Travel Rule, which came into effect on Sept. 1, aims to stop anti-money laundering and counter-terrorist financing activities carried out on-chain
7 Spot Bitcoin ETFs Face Extended Wait as SEC Seeks Deeper Analysis
31.8.2023
The U.S. Securities and Exchange Commission (SEC) has deferred decisions on seven spot bitcoin exchange-traded fund (ETF) applications from Invesco Galaxy, Wisdomtree, Bitwise, Vaneck, Fidelity’s Wise Origin, Blackrock, and Valkyrie. In statements released on Thursday, the SEC underlined...