The Court of Amsterdam has found that bitcoin possesses “properties of wealth” following a civil rights case. Dutch repossession laws have been invoked to mandate the repayment of 0.591 BTC obliged by a contract between two individuals relating to bitcoin mining. Also Read:The Race Between Segwit and Bitcoin Cash Is...
The United States Internal Revenue Service (IRS) recently published a document reminding taxpayers that income derived from virtual currency transactions must be reported on income tax returns. The IRS states that taxpayers who fail to report virtual currency earning may be audited or made liable for “penalties and interest.” Also...
The complexity of U.S. financial regulations is holding back distributed ledger technology (DLT) startups, the U.S. Government Accountability Office (GAO) says.The GAO's finding, in a report published March 22, is part of a broader analysis of fintech that examines the benefits, risks and regulations associated with the sector. The...
The Canadian province of Quebec has temporarily put a halt to the development of new cryptocurrency mining operations.The region - known for its cheap hydropower - has been an attractive destination for cryptocurrency miners looking to expand their businesses. Yet on Friday, Canadian newspaper Les Affaires reported that operators tied to utility...
Joe Ciccolo is the president of BitAML, Inc., a compliance service provider. Andrew Hinkes is an adjunct professor at the NYU Stern School of Business and NYU School of Law.This article is not intended to provide, and should not be taken as, legal advice.With just one paragraph, an agency of...
If you are thinking about selling bitcoin for cash inside the United States to people you don’t know, caution is advised. A reminder to stay alert for undercover government agents who might try to entrap you has been served by a recent California case. Also Read: Cryptocurrency Regulator Found Dead...
Public consultations on a new regulatory regime for crypto companies in Italy are now closed. Interested parties were invited by the Ministry of Economy and Finance to share suggestions and comments on a draft decree introducing registration and reporting requirements in the sector. The new set of rules will...
South Korea currently has no law against government officials insider trading with the knowledge of cryptocurrency regulations. The case against an employee of the country’s Financial Supervisory Service (FSS) accused of crypto insider trading has come to a standstill without grounds for punishment. However, the government has worked out...
جمهوری اسلامی ایران‎ The Islamic Republic of Iran has apparently changed course on cryptocurrency, or perhaps it has clarified its real position previously mischaracterized by the press. It’s increasingly difficult to get a real handle on the official status of crypto in the Persian homeland.   Also read: How To Regain...
"Cryptocurrency networks are much more than alternatives to the dollar or payment mechanisms."That was the message delivered to the heads of the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) Wednesday by three lawmakers and members of the Congressional Blockchain Caucus (CBC), a bipartisan group launched...