Shyft Network Recruits FATF Veterans to Advise on Regulatory Compliance
Shyft Network, a public blockchain protocol, has hired Josée Nadeau, former head of the Canadian delegation to the Financial Action Task Force (FATF), and Rick McDonell, former FATF executive secretary, as the newest members of its board of advisors.The additions come as Shyft works...
Coinbase Eyes EU Market With a New Irish E-Money License
Coinbase has added a new milestone to its strategy in Europe. On October 12, 2019, a statement from Zeeshan Feroz, the chief executive of the U.K. arm of Coinbase, announced that the platform had been able to acquire an e-money license in Ireland, making...
SEC Rejects Bitwise’s Bitcoin ETF Proposal
Like many that came before it, Bitwise’s bitcoin exchange-traded fund (ETF) aspirations have fallen by the wayside. This comes just three days after Bitwise’s Head of Research told CNBC that “We’re closer than we’ve ever been before to getting a bitcoin ETF approved.”The asset...
IRS Releases Tax Guidance on Hard Forks and Airdrops
The U.S. Internal Revenue Service (IRS) has taken a significant step to provide much-needed clarity for crypto users. On October 9, 2019, the tax authority published an announcement of Revenue Ruling 2019-24, which addresses an array of questions concerning tax compliance related to cryptocurrency...
Op Ed: Bitcoin Compensation Compliance: Navigating Murky Waters
Far from its humble origins on the cypherpunk list server, Bitcoin now captures the attention of the general public on a seemingly daily basis. Prominent news outlets, once waffling between indifference and hostility, regularly feature the trailblazing cryptocurrency as part of their coverage of...
Hong Kong Issues Rules for Crypto Asset Managers
This article was originally published by 8btc and written by Lylian Teng.Hong Kong’s Securities and Futures Commission (SFC) has recently released rules and regulations for fund managers dealing with crypto assets.The securities regulator published a 37-page document titled “Proforma Terms and Conditions for Licensed...
South Korean Court Sets Compensation Precedent for Cryptocurrency Exchanges
On September 27, 2019, a South Korean court made a landmark ruling concerning local cryptocurrency exchange Coinone which could affect the way exchanges function going forward. According to local news coverage of the filing, the Seoul Southern District Court wants the exchange to cover losses...
Op Ed: Key Takeaways From Block.one’s $24M Settlement With the SEC
It was a long time coming, but it happened: Block.one, the company behind EOS, settled with the U.S. Securities and Exchange Commission (SEC) for selling an unregistered security with its allegedly $4 billion (yes, that’s 4 with 12 zeros!) token sale. The sum total...
The Crypto Ratings Council Is Here, But Does It Hold Any Weight?
A cabal of the biggest companies in Bitcoin have come together to launch a system for measuring a coin’s likelihood to be caught up in U.S. securities regulations.Coinbase, Kraken, Grayscale Investments, Bittrex, Poloniex parent company Circle and Anchorage custody services, among others, have established...
Bitcoin in Africa: Offering ‘New and Better Ways of Exchanging Value’
With each passing day, more and more Africans are discovering cryptocurrencies. As a result, bitcoin and other cryptocurrencies are finding real use cases in African countries.African countries, such as Nigeria, have been reported to have among the highest search rates for the keyword “Bitcoin.”...
