IRS 'Raided' by Crypto Investors as Industry Puts Up Fight Against U.S. Tax Proposal

The U.S. Internal Revenue Service (IRS) is gathering the final words now from a crypto sector that is arguing the agency's proposal for a digital-assets taxation regime is an existential threat to investor privacy and to decentralized crypto projects.

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Thailand SEC Allays Fears Over Controversial Crypto Proposal

Thailand Securities and Exchange Commission (SEC) has allayed concerns regarding some of the requirements in its crypto proposal draft plan. This was in response to the uproar from crypto stakeholders about certain aspects of the proposed crypto framework.

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Test Your Crypto Knowledge With BeInCrypto’s Weekly Quiz — Feb. 27

A bank tested blockchain payments in space, victims of the Mt. Gox hack almost a decade ago will finally be able to vote on a compensation proposal, the BTC dip also affected the market’s second cryptocurrency, and many other events happened this week.

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Crypto Exchanges Say Hong Kong’s Ban on Retail Crypto Trading Could Be Counterproductive

Some major cryptocurrency exchanges have expressed concern regarding Hong Kong’s proposal to ban retail investors in the city from participating in crypto activities, stating that it could have an adverse effect.

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Hong Kong Proposal to Ban Retail Crypto Traders Sees Backlash

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TRON is becoming the first deflation crypto? TRX week-over-week gains pass 50%

TRON (TRX) has ended its upswing by creating a new all-time high just under $0. 6. What’s the reason for this price surge and should you buy some TRX now? Fundamental analysis: new update proposal already priced in? TRON is a blockchain-based operating system that can handle a massive amount of transactions.

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Tornado Cash’s token is now tradable as TORN surges by 200%

In a bid to become a native token, Tornado Cash (TORN) has announced that it has passed its first governance proposal. The platform allows users to make use of an anonymous tool to privately trade crypto and other digital assets between any two addresses.

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Indian Finance Minister Answers Questions on Cryptocurrency Plans and Ban Proposal

India’s Finance Minister Nirmala Sitharaman has answered some questions regarding cryptocurrency in Rajya Sabha, the upper house of India’s parliament. The questions include measures the government plans to impose on the crypto industry.

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Crypto Asset Manager Bitwise Files to Publicly Trade Bitcoin Fund

On February 2, the crypto asset manager, Bitwise Asset Management, announced it had filed a Form 211 with the U. S. Financial Industry Regulatory Authority (FINRA). If the proposal is approved Bitwise will be able to deploy its shares publicly via over-the-counter (OTC) desks and secondary markets.

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FinCEN Extends Crypto Rulemaking Review Period as Senate Confirms Janet Yellen

The Financial Crimes Enforcement Network (FinCEN) has issued a notice extending the comment period for its crypto wallet proposal. The extension came shortly after the U. S. Senate confirmed Janet Yellen as the new U.

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FinCEN Forced by Crypto Community to Hold Off Its Controversial Proposal

Coordinated resistance by crypto community forces the U.S. watchdog to allow more time for comments to its rulemaking proposal

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Prediction market platform Omen to integrate crypto data oracles from API3

API3, a provider of decentralized and blockchain-native APIs, has announced that its proposal to integrate API3 data feeds to Omen prediction markets on xDAI has passed unanimously in the DXdao. This means that API3 will begin the integration of its Airnode-powered first-party oracles to Omen, enabling Omen’s users to settle prediction markets using a variety […] CryptoNinjas.

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Joe Biden Freezes FinCEN’s Crypto Wallet Rulemaking — US Crypto Regulations Under Review

New U. S. President Joe Biden has frozen all agency rulemaking, including the proposal by the Financial Crimes Enforcement Network (FinCEN) relating to cryptocurrency wallets. Biden will appoint someone to “review any new or pending rules,” the White House has announced.

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President Joe Biden Freezes Former Secretary Mnuchin’s Proposal on ‘Unhosted’ Crypto Wallets

President Joe Biden is in full work mode right from the day of his inauguration as he froze all agency rulemaking pending further review, as per the memorandum published on Jan 20, 2021. The good thing for the cryptocurrency market is that it includes the proposal made by former Treasury secretary Steve Mnuchin on “unhosted […] The post President Joe Biden Freezes Former Secretary Mnuchin’s Proposal on ‘Unhosted’ Crypto Wallets first appeared on BitcoinExchangeGuide.

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President Biden Freezes FinCEN’s Controversial Crypto Wallet Proposal

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Blockchain Bites: ‘Crowded’ Crypto Traders, Ether All-Time High, the Bitcoin Battery Proposal

Bitcoin's environmental impact has become top focus for some critics as traders go "long BTC" and Dunamu reveals a “fear and greed” index.

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Kentucky Wants to Be a ‘National leader’ in Crypto Mining, Offers Tax Exemptions

On Jan 8, two legislators in Kentucky have recently submitted a bill that aims to make the US state a very attractive option for cryptocurrency miners in the form of tax breaks. Kentucky Crypto Mining Bill The proposal was submitted to the General Assembly, which would see Bitcoin and other cryptocurrency miners enjoy some taxRead More

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FinCEN’s Crypto Rules Aren’t as Unfair as Jack Dorsey Says

Crypto companies complain about FinCEN's new "unhosted wallets" proposal. But the rules aren't unreasonable, says our columnist.

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FinCEN to Impose New Regulation for Crypto Holdings at Foreign Exchanges

The Financial Crimes Enforcement Network (FinCEN) has announced that it will soon propose new regulation affecting cryptocurrency holdings at foreign exchanges. This proposal is separate from the one FinCEN recently proposed on cryptocurrency wallets.

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US Crypto Proposal Meets Resistance from Congress

The letter, posted by the pro-crypto NGO coincenter. org, shows that the letter was signed by representatives of both parties and Senator Tom Cotton. This is an unusual display of unity from America’s lawmakers at this time.

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Proposed FinCEN Rule on Crypto Wallets Would Likely Be Ineffective, Elliptic Says

Blockchain analysis firm Elliptic said the proposal could “adversely impact” existing anti-money laundering (AML) regulations.

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Heavy hitters of crypto call for users to comment on proposed FinCEN wallet rule

Coinbase is the latest company to go public with its concerns regarding the U.S. Treasury proposal on crypto wallets.

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Tether Regulation Proposal ‘Apocalyptic’ for Crypto

A new U. S. bill called the Stable Act is stirring anxiety in crypto circles. Passage could effectively put an end to billions of dollars of transactions and throw the industry back several years.

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US Treasury Proposal Applies Travel Rule to Crypto

The US Treasury Financial Crimes Enforcement Network (FinCEN) released a proposal that aims to close loopholes regarding the movement of digital assets. In the announcement on the release, FinCEN also requested input from the public.

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Top Silicon Valley VC defends crypto amid proposal of controversial Treasury rule

Yesterday, the United States Treasury’s FinCEN branch confirmed that it is working on cracking down on crimes enabled by Bitcoin and other cryptocurrencies. The post Top Silicon Valley VC defends crypto amid proposal of controversial Treasury rule appeared first on CryptoSlate.

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FinCEN Mulls Imposing Proposed Crypto Wallet Regulation, Crypto Community Reacts

On Dec 18, 2020, The Financial Crimes Enforcement Network (FinCEN), took a step closer to implementing its long-dreaded crypto wallet regulation. What Is the Proposal? Under the proposed rule, crypto exchanges would be obliged to make crypto users comply with know your customer (KYC) requirements when transferring their digital assets to personal wallets. FinCEN nowRead More

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Chilean NGO Prepares Draft to Include Crypto in New Constitution — Releases ‘Scam Blacklist’

A pro-Crypto Chilean NGO hosted a series of conferences on cryptocurrencies and blockchain topics for educational purposes, named Cryptonight 2020, where they announced the preparation of a proposal to submit it in the context of the drafting of a new constitution and the release of a crypto blacklist.

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South Korea May Delay Implementation of 20% Crypto Tax Till 2022

The National Assembly is pushing for a delay to the tax proposal to allow exchanges more time to prepare.

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Crypto users speak out on proposed change to FinCEN Travel Rule

“This proposal, if adopted, would prove to be an invasion of privacy."

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South African Regulator Gets Tough in Sweeping Policy Proposal

The South African Financial Sector Conduct Authority (FSCA) has unveiled a draft cryptocurrency regulation policy framework. This proposal aims to bring all crypto trading and investment activities in the country under its close supervision.

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Crypto Assets in South Africa Would Be Considered Financial Products Under Regulator Proposal

If implemented the declaration would require crypto firms in South Africa to register as financial services providers.

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Why FinCEN Wants Details on All Cross-Border Transactions Over $250

At an event Monday, FinCEN staffers discussed the “why” of a new proposal that has crypto fans concerned.

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Russia Proposes New Rules and Penalties for Cryptocurrency Owners

The Russian Ministry of Finance has developed new amendments to the country’s cryptocurrency regulation. The proposal outlines a new set of rules for crypto owners, exchanges, and miners, as well as penalties for undeclared crypto transactions.

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EIP Implementation Would Have Resulted in Burning Nearly 1M ETH in 2020

If implemented, a much-discussed Ethereum Improvement Proposal (EIP) would have resulted in the burning of almost a million Ether (ETH) in 2020, according to data published by Spencer Noon of crypto investment fund DTC Capital, on Oct.

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Major Indian exchange proposes new regulatory framework to avoid crypto ban

The proposal hopes to avert a blanket ban that some warn would result in the illegal trade of cryptocurrencies

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Can Payment Services Drive the ‘Fourth Industrial Revolution’ in Crypto?

The legislative body of the European Union is concluding the proposal for the region’s first cryptocurrency and digital finance framework. With tokenized securities, payment solutions, and DeFi on the rise, this grants industry businesses opportunities to leverage their legitimacy and open their doors to the broader consumer market.

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Bitcoin exchanges might soon share money laundering data in the UK

In the latest proposal concerning Bitcoin and crypto businesses, the UK’s top financial regulator, the Financial Conduct Authority, said all firms would be compelled to share reports on potential money laundering.

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FCA to ask crypto firms to report on money laundering

The UK’s Financial Conduct Authority, in a new proposal, has outlined a policy that... The post FCA to ask crypto firms to report on money laundering appeared first on Coin Journal.

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Bitcoin Cash Difficulty Algorithm Debate Heats Up With Fears of Another Chain Split

With a touch more than three months left until the next Bitcoin Cash upgrade, crypto proponents have been witnessing a new quarrel rise after last year’s contentious Infrastructure Funding Proposal (IFP).

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Korean Government Proposes Tough New 22% Tax on Crypto Trading

Crypto trading profits could be liable to a 22% tax should the Korean National Assembly approve the newly tabled proposal.

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U.K. strengthens consumer protection laws for Bitcoin and crypto ads

Cryptocurrency firms advertising to United Kingdom citizens will be governed by legal regulations for marketing their products, as per Her’s Majesty Treasury announcement Monday Crypto ads to be scrutinized  The HM Treasury is weighing a proposal for “better” consumer protection for users of cryptocurrencies and similar products.

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South Korea Levying Crypto Tax Will Stifle Industrial Growth, Say Economists

Taxing cryptocurrency income is premature and may stifle the growth of blockchain and crypto in South Korea. Cryptocurrencies, unlike fiat, have not taken root and are largely unstable. This is the view of leading South Korean economists in response to the Ministry of Economy and Finance’s tax office proposal to levy a 20 percent taxRead MoreRead More.

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Goodbye Stellar, Kin Crypto Project Approves Switch To Solana Blockchain Due To Scalability Issues

In a move to increase the scalability and speed of its platform, Kin Foundation, the lead development team of the Kin crypto, voted to move from its Stellar blockchain fork to Solana blockchain. The Kin Foundation lead team voted on the proposal to move to Solana blockchain to solve the scalability constraints on the Stellar […]

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This Proposal Could Solve Ethereum’s Congestion Problem

Ethereum developers are considering a proposal that would improve transaction fees and help solve network congestion. That proposal, EIP-1559, has been under discussion since April 2019 and has the potential... The post This Proposal Could Solve Ethereum’s Congestion Problem appeared first on Crypto Briefing.

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Like Ethereum, Tezos Plans to Introduce Domain Names

Drawing inspiration from Ethereum, Tezos may soon support domain names and human-readable addresses thanks to a new proposal from the blockchain community. How Tezos Domains Work Miroslav Bodeček, leader of... The post Like Ethereum, Tezos Plans to Introduce Domain Names appeared first on Crypto Briefing.

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South Korea is Proposing A Tax on Profits From Crypto-Fiat Transactions

The South Korean Ministry of Strategy and Finance is proposing a tax on profits from crypto-fiat transactions, reported a local news outlet. The proposition was made earlier this week which also includes the sale of the token through initial coin offerings (ICO) and crypto mining organizations.

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U.S. State of Louisiana Wants to License Cryptocurrency Businesses

Officials in Louisiana’s lower chamber have approved a proposal to regulate cryptocurrency businesses in the Southern U. S. state, if a recent development is considered.   Louisiana’s Crypto Push As reported by The Block on May 24, public records in the Louisiana state legislature show the proposal was passed and approved last week.

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Louisiana State Senate to Consider Crypto Business Licensing Bill

The Louisiana State House of Representatives passed a bill on Wednesday to regulate and license virtual currency businesses. A Senate committee will now evaluate the proposal.

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Iran’s Crypto Exchanges Now Under the “Money Smuggling” Category

Iran’s love-hate relationship with cryptocurrencies is now tilted in favor of a no-go zone, as the country just passed proposals terming the operation of crypto-services a “smuggling” activity.   Local Crypto Scene Faces Battle As per reports on local publication ArzDigital earlier this week, the Irani parliament passed a proposal to include cryptocurrency within strict foreignRead MoreRead More.

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