Authorities in the United States have made arrests and announced the seizure of $3.6 billion in cryptocurrency more than five years after hackers stole 119,756 Bitcoin (BTC) from the Bitfinex exchange. In a Tuesday announcement, the U.S. Department of Justice said it had ordered the arrest of Ilya Lichtenstein and his wife Heather Morgan for…
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Whether regulations on stablecoins and digital assets should be addressed at the state or federal level was the topic of discussion among at least two U.S. lawmakers in a hearing for the House Committee on Financial Services. Speaking virtually at a Tuesday hearing titled “Digital Assets and the Future of Finance: The President’s Working Group…
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Several cryptocurrency exchanges and advocacy groups across different countries have banded together to form a coalition intended to fight market manipulation. In a Monday announcement, market surveillance firm Solidus Labs and exchanges including Bitstamp, Coinbase, BitMEX, and CrossTower said they would be launching the Crypto Market Integrity Coalition, or CMIC, asking all other companies involved…
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A piece of legislation aimed at addressing supply chain issues to keep the U.S. economy and businesses competitive has passed the House of Representatives — without a provision many in the crypto space had criticized for giving the Treasury Secretary authority to shut down exchanges. In a 222-210 vote on Friday, the House of Representatives…
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The armed forces of Myanmar, which have been in control of the government since forcibly detaining many elected leaders in 2021, is reportedly planning to release a digital currency to help the local economy. According to a Thursday report from Bloomberg, Major General Zaw Min Tun said rolling out a digital currency would “help improve…
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With the opening ceremony of the Beijing 2022 Winter Olympics completed and all competing athletes currently in China, two members of Congress are warning of the potential dangers of using digital yuan at the events. According to a Friday report from Reuters, Pennsylvania Senator Pat Toomey sent a letter to Secretary of State Antony Blinken…
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A bill previously introduced by Washington Representative Suzan DelBene aims to exempt crypto users from paying taxes on transactions under $200. According to a Tuesday draft of the Virtual Currency Tax Fairness Act of 2022, Washington Representative Suzan DelBene is seeking to amend the Internal Revenue Code of 1986 to exclude gains from certain personal…
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T.V. Somanathan, the finance secretary for the Indian government, is reportedly pushing back against the narrative cryptocurrencies will be widely accepted in the country — by dismissing the possibility of using them as legal tender. According to a Wednesday tweet from Asian News International, Somanathan said that a digital rupee backed by the Reserve Bank…
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Hester Peirce, a commissioner for the U.S. Securities and Exchange Commission known by many in the space as Crypto Mom, is warning that a proposed rule from the agency could potentially affect the regulation of firms involved with decentralized finance. According to a Tuesday Bloomberg report, Peirce said that the 654-page proposal recently released by…
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The New York Digital Investment Group, or NYDIG, has launched a benefit program allowing employees of participating companies to convert a portion of their paychecks into Bitcoin. In a Tuesday announcement, the NYDIG said several firms involved with sports, entertainment, and digital currencies would be among the first to offer the crypto payments, including Everbowl,…
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