The Internal Revenue Service (IRS) has recently announced a temporary exemption regarding its crypto cost-basis reporting rules, a move that has garnered significant attention within the digital asset investment community. This decision marks the IRS’s acknowledgment of the intricate nature of crypto taxation and the urgent need for flexible regulatory frameworks amid a rapidly evolving
Regulation
China has recently implemented a set of stringent regulations aimed at monitoring and controlling high-risk foreign exchange dealings, particularly those involving cryptocurrencies. The South China Morning Post highlights that the State Administration of Foreign Exchange (SAFE) has mandated banks to actively observe and report any suspicious transactions linked to cross-border gambling operations, underground financial systems,
In a landscape where traditional finance has often viewed cryptocurrency with skepticism, recent moves by established institutions signal a shift in these dynamics. One of the key players, Morgan Stanley, through its subsidiary E-Trade, is reportedly gearing up to enter the cryptocurrency trading arena. This development, highlighted by The Information on January 2, suggests an
As the European Union embarks on a new chapter in digital asset governance with the implementation of the Markets in Crypto-Assets (MiCA) regulation, the landscape for crypto and digital asset firms is set for significant transformation. This development not only aims to close gaps in oversight but also seeks to create a cohesive environment for
As the world steadily gravitates towards digital currencies, the United Kingdom is confronted with significant hurdles in the realm of cryptocurrency advertising regulation. The Financial Conduct Authority (FCA) is not only tasked with safeguarding consumers but is also facing a barrage of non-compliance among crypto advertisers. Reports have recently surfaced, indicating that the FCA has
MoonPay, a prominent player in the cryptocurrency payment solutions sector, has recently achieved a significant milestone by obtaining authorization under the European Union’s Markets in Crypto-Assets (MiCA) regulation. This approval, as announced on December 30, allows MoonPay to operate across the European Economic Area (EEA) following licensing from the Netherlands’ Authority for the Financial Markets
The burgeoning decentralized finance (DeFi) sector has become a focal point for financial innovation, yet it faces significant challenges from regulatory bodies. One of the latest flashpoints in this ongoing struggle is the critique from A16z Crypto, a leading investment firm in the blockchain space. In a fervent response to new regulations laid out by
Japan’s Financial Services Authority (FSA) is stepping up its efforts to bolster internal audit procedures within financial institutions, including cryptocurrency exchanges. This move comes in response to a perceived need for stricter governance and regulatory compliance in the rapidly evolving financial landscape. The FSA has recognized that current practices may be insufficient and plans to
The landscape of digital asset regulation is evolving, and the recent release of the final broker rules by the U.S. Department of the Treasury and the Internal Revenue Service (IRS) marks a significant development. The provisions outlined in these rules, particularly those pertaining to decentralized finance (DeFi) protocols, have generated considerable debate within the industry.
The financial landscape surrounding cryptocurrency is notorious for its volatility and the frequent legal quandaries it presents. A recent development has captured considerable attention: the Securities and Exchange Commission (SEC) has charged Tai Mo Shan Limited, a subsidiary of Jump Crypto, with engaging in misleading activities surrounding the now-infamous stablecoin Terra USD (UST). This article