US government

Bitcoin and Cryptocurrency Are ‘Like a Giant Garbage Dumpster,’ Says Minneapolis Federal Reserve President

</header> <strong>The president of the Federal Reserve Bank of Minneapolis, Neel Kashkari, said on Tuesday that bitcoin and other cryptocurrencies are “like a giant garbage dumpster.” He would rather his one-year-old daughter have a low yielding Treasury bond than a bitcoin, emphasizing that all that’s emerging from the crypto world “is burning garbage.”</strong> Also read: …

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US Treasury Secretary Promises “Significant New Requirements” on Cryptocurrency

Though the Democratic presidential race in the United States may have lost its most forward-thinking candidate when it comes to cryptocurrency, that doesn’t mean it’s not still a hot button issue across party lines. The number of patents and companies associated with cryptocurrencies and blockchains continues to rise in the US market, making it both …

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Trump Views Crypto a Threat, Proposes Countermeasures in New Budget

</header> <strong>The White House released the Budget of the U.S. Government on Monday, outlining some proposals to increase cryptocurrency oversight which President Donald Trump views as priorities. The budget proposes giving the Treasury more power over crypto and requests funding for FinCEN to expand its efforts to combat threats including from cryptocurrency.</strong> Also read: Bitcoin, …

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Inside Chainalysis’ Multimillion-Dollar Relationship With the US Government

It started with a $9,000 data software contract for the FBI in 2015. But just five years later, Chainalysis is now the cryptocurrency-tracing equivalent of Palantir, the data analytics company flush with lucrative government software contracts. Chainalysis is, right now, doing millions of dollars worth of business each year with the U.S. government, dwarfing its …

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US Government Auctioning off Bitcoins Worth $37 Million in 2 Weeks

</header> <strong>The U.S. government has opened registration for the bidding of over 4,040 bitcoins, currently worth more than $37 million, which will be auctioned off on Feb. 18. The winning bidder will be notified on the same day. These bitcoins were forfeited in various federal criminal, civil and administrative cases, the U.S. Marshals Service explained.</strong> …

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Another Crypto Exchange Discourages the Use of Bitcoin Mixing Services

</header> <strong>The cryptocurrency exchange Binance was recently scrutinized for flagging a customer’s funds because the individual had used a bitcoin mixing application. Now the platform Paxos Global is discouraging the use of crypto mixers after a customer allegedly sent coins to a mixing service.</strong> Also read: Regulatory Roundup: EU-Wide Crypto Regulations, New Rules in Europe, …

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As FATF Regulations Galvanize, Crypto Mixing Applications Are Targeted

</header> <strong>Since the inception of Bitcoin, governments have tried to keep track of all the transactions taking place on the public blockchain. As the years progressed, authorities have shown a distaste for cryptocurrency mixing applications like Coinjoin. On Dec. 19, a Binance customer couldn’t withdraw his bitcoin because the exchange told him he used the …

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Judge Rules Snowden Must Give Book Proceeds to US Government

</header> <strong>A U.S. district judge has ruled that former intelligence contractor Edward Snowden must turn over the proceeds of his new book to the U.S. government. According to the ruling, Snowden failed to obtain clearance for the materials and information used in his book. The same judge previously ruled against Kim Dotcom and Megaupload.</strong> Also …

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Circle Warns Poloniex US Customer Assets May Be Sent to the Government

</header> <strong>As part of its release of the cryptocurrency exchange Poloniex, Circle may begin charging fees to Poloniex US customers. And the company warns that any unclaimed digital assets, those in dormant accounts, may be sent to state governments, consistent with relevant regulations for abandoned property.</strong> Also Read: Circle Drops Poloniex Leaving US Crypto Traders …

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Microsoft: Customers are entitled to know about federal data requests

Enlarge David Ryder/Bloomberg via Getty Images Microsoft revealed on Wednesday that it is fighting in court for the right to tell one of its large enterprise customers about a federal request for data hosted on Microsoft’s cloud services. The data request came with an order prohibiting Microsoft from notifying its customer about the request, and …

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