lawmakers

Hawaiian Bill Would Let Banks Act as Crypto Custodians

Hawaiian lawmakers have submitted a bill that allows banks to provide custody for digital assets. SB2594, introduced on Jan. 18 with bipartisan backing, would make it legal for Hawaiian banks to hold “digital securities,” “virtual currencies,” “digital consumer assets” and other “open blockchain tokens” for their customers. It would further authorize Hawaiian courts to hear …

Hawaiian Bill Would Let Banks Act as Crypto Custodians Read More »

Lawmakers Want Answers From IRS, Citing Major Issues With Crypto Tax Guidance

</header> <strong>Eight lawmakers have sent a letter to the IRS seeking answers to new questions stemming from the latest crypto tax guidance. They pointed out a number of major issues including unwarranted tax liabilities for crypto users who unwillingly receive forked or airdropped coins.</strong> Also read: Regulatory Roundup: Crypto ‘Inevitable’ in India, China Rankings, NY …

Lawmakers Want Answers From IRS, Citing Major Issues With Crypto Tax Guidance Read More »

New Ukrainian Law Says ‘Virtual Assets’ Can Be Used for Payments

</header> <strong>The Verkhovna Rada, Ukraine’s legislature, has approved amendments that introduce legal terms and definitions pertaining to the crypto space. The new legislation, which aims to transpose the FATF standards into national law, also identifies who is to take responsibility for the oversight of cryptocurrencies in the country. </strong> Also read: Crypto Startups to Get …

New Ukrainian Law Says ‘Virtual Assets’ Can Be Used for Payments Read More »

Crypto Bullishness Spreads on Capitol Hill

<header class=”article__header”> </header> <strong>U.S. Congress has shown that it is starting to care about cryptocurrency as a number of lawmakers spoke up in favor of it this week. “The world Satoshi Nakamoto had envisioned is an unstoppable force” and “there’s no capacity to kill bitcoin” are some of the comments made by lawmakers. Meanwhile, the …

Crypto Bullishness Spreads on Capitol Hill Read More »

IRS Agents Propose Draconian Tactics to Investigate Bitcoin Users

<header class=”article__header”> </header> <strong>A recently published U.S. Internal Revenue Service (IRS) slide describes alarming recommendations on how tax agents should deal with digital currency users who are not paying taxes. The slide recommends that agents question crypto users’ friends and family, comb through social media posts and issue subpoenas to make sure U.S. residents are …

IRS Agents Propose Draconian Tactics to Investigate Bitcoin Users Read More »

US lawmakers tell Facebook to halt the launch of its Libra cryptocurrency

Sponsored Links Chesnot via Getty Images US lawmakers have asked Facebook to “immediately cease implementation plans” of its Libra cryptocurrency. Before it proceeds any further, the House Financial Services Committee, led by Democrat Maxine Waters, wants to examine risks around cyber security, global financial markets and national security concerns, it said in a letter to …

US lawmakers tell Facebook to halt the launch of its Libra cryptocurrency Read More »

Halt Libra? US Lawmakers Call for Hearings on Facebook’s Crypto

The head of the U.S. House of Representatives Financial Services Committee wants Facebook to stop developing its new Libra cryptocurrency network – at least temporarily. Congresswoman Maxine Waters asked Facebook to halt development of the Libra Network until hearings can be held. The move follows a letter written to her by her Republican counterpart, Representative Patrick …

Halt Libra? US Lawmakers Call for Hearings on Facebook’s Crypto Read More »

IRS Plans to Issue Guidance on Virtual Currency Taxation

<header class=”article__header”> </header> <strong>Internal Revenue Service (IRS) commissioner Charles Rettig has explained to U.S. representatives that the tax department plans to issue clearer guidance toward cryptocurrency taxation soon. Since 2014, Americans have been asking the tax agency for better clarification in regard to official tax guidelines.</strong> Also read: Last Will Platform Allows Your Loved Ones …

IRS Plans to Issue Guidance on Virtual Currency Taxation Read More »

Indian Blockchain Summit Draws Policy Makers to Speed up Crypto Regulation

</header> <strong>An Indian government-supported blockchain summit is drawing many policy makers with the aim to speed up the development of cryptocurrency regulation in the country. Among expected participants are officials from the Indian Ministry of Finance and the panel currently tasked with drafting the regulatory framework for cryptocurrencies.</strong> Also read: Indian Supreme Court Moves Crypto Hearing, …

Indian Blockchain Summit Draws Policy Makers to Speed up Crypto Regulation Read More »