Tether, the issuer of the USDT stablecoin, has made waves in the cryptocurrency market by significantly increasing its Bitcoin holdings. Recent data from Arkham Intelligence revealed that Tether acquired a staggering 7,629 BTC, valued at around $705 million. This strategic purchase boosts Tether’s total Bitcoin assets to 82,983 BTC, collectively worth approximately $7.68 billion. As
Regulation
In light of the complexities surrounding cryptocurrency taxation, the Internal Revenue Service (IRS) has recently implemented a temporary relief measure concerning the cost-basis reporting rules for digital asset transactions. This initiative serves as a crucial acknowledgment by the agency of the myriad challenges that investors face in a rapidly evolving market. The most significant change
In a decisive move to mitigate potential financial risks, China has unveiled stringent regulations focusing on foreign exchange activities, particularly those associated with cryptocurrencies. The South China Morning Post reports that these measures, spearheaded by the State Administration of Foreign Exchange, mandate financial institutions to closely monitor transactions that could indicate illicit activities like cross-border
Recent developments signal a pivotal shift in the financial landscape as traditional financial institutions begin to embrace cryptocurrency trading. Reports have surfaced that Morgan Stanley’s subsidiary, E-Trade, is gearing up to launch its own crypto trading platform. The driving force behind this strategic decision appears to be the anticipated regulatory changes under the incoming Trump
The implementation of the Markets in Crypto Assets Regulation (MiCA) in the European Union signifies a pivotal moment in the landscape of digital asset governance. As the EU steps forward with this comprehensive framework, stakeholders in the cryptocurrency and digital asset sectors are tasked with navigating a new regulatory terrain that promises both challenges and
The United Kingdom is at a pivotal point in regulating cryptocurrency advertising, facing a series of challenges that highlight the complexities of overseeing a rapidly evolving financial landscape. As the Financial Conduct Authority (FCA) navigates this intricate terrain, recent reports reveal alarming statistics, with thousands of potentially misleading ads flagged but only a fraction successfully
In a landmark development for both MoonPay and the digital asset industry, the crypto payment solutions provider has garnered approval under the European Union’s Markets in Crypto-Assets (MiCA) regulation. This announcement, made public on December 30, underscores the company’s commitment to regulatory adherence and positions it strategically within the European Economic Area (EEA). By securing
In a fierce battle over the future of decentralized finance (DeFi) in the United States, A16z Crypto, the blockchain-focused venture capital arm of Andreessen Horowitz, has raised a clarion call against recently proposed regulations by the Internal Revenue Service (IRS) and the Treasury Department. Michele Korver, A16z’s head of regulation, recently took to social media
Japan is taking significant steps to bolster regulatory measures within its financial sector, particularly focusing on cryptocurrencies. The Financial Services Authority (FSA) has initiated a comprehensive review aimed at improving internal audit protocols among financial institutions, including crypto exchanges. This move comes in light of recent findings that revealed gaps in compliance and oversight practices
The U.S. Department of the Treasury and the Internal Revenue Service (IRS) have recently introduced final regulations pertaining to digital asset service providers, particularly targeting the emerging decentralized finance (DeFi) sector. This new framework mandates compliance measures, including the controversial Know-Your-Customer (KYC) procedures, fundamentally altering the operational landscape for brokers in digital assets. The implications