US Congress Introduces Virtual Currency Tax Fairness Act

The US Congress is trying yet again to make small payments via cryptocurrency a reality. A new bill introduced this week could be one of the biggest steps in this direction. A new bill in Congress On Thursday, Arizona Congressman David Schweikert and Washington Congresswoman Suzan Delbene introduced a new bill called …

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SEC Accuses Blockvest Founder of Presenting Falsified Documents 

The United States Securities and Exchange Commission (SEC) is taking additional action against Blockvest, a company that tried to issue a digital token years ago.  In a filing dated January 10, the financial regulator accused the company and its founder- Reginald Buddy Ringgold III- of falsifying signatures and documents that were related to the …

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Bitwise Study Finds Financial Advisors Are Still Hesitant to Invest in Cryptocurrency Due to Lack of Regulation

Bitwise Asset Management, a group that founded the first cryptocurrency index fund and a prominent company in the space, recently put out a survey which found that many financial advisors are afraid to enter the cryptocurrency space due simply to a lack of regulation. This survey, which asked 415 advisors in December …

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European Cryptocurrency Exchanges Get Ready for Heightened Scrutiny with AMLD5

As the EU members adopt AMLD5, cryptocurrency exchanges in the region will be forced to increase their compliance costs. The Fifth Anti-Money Laundering Directive brings these entities under the purview of existing regulators. Increased costs for exchanges The cryptocurrency exchanges based in EU member states will have to comply with the AMLD5, …

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SEC Gearing Up for Closer Scrutiny of the Crypto Industry In 2020

The US Securities and Exchange Commission (SEC) is planning to keep a closer watch on the crypto industry this year. After bringing several cases against firms that violated US securities law by launching their own ICOs, the regulator wants to make crypto a priority in 2020. SEC’s examination priorities On January 7, …

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IMF Chief Economist Casts Doubt on Crypto’s Chances of Usurping the Dollar

Gita Gopinath, the Chief Economist at the International Monetary Fund (IMF), has weighed in on the argument of whether crypto can replace the dollar as standard means of payment and transactions. In a January 6 opinion piece for the Financial Times, the Indian-American policy makes explained that while there’s undoubtedly much intrigue …

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South Korean Government Advisory Committee Recommends Bitcoin Derivatives Clearance

The government of South Korea is on the brink of taking yet another step to ensure that cryptocurrencies thrive in the country, as one of the less-explored aspects of these assets is set to begin operating there. Earlier today, Business Korea reported that the South Korean Presidential Committee on the Fourth Industrial Revolution (PCFIR) …

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