The CFTC Asks for Guidance about Ethereum from the Crypto Community

The CFTC Asks for Guidance about Ethereum from the Crypto Community

Among all U.S. consumer protection agencies and regulators, the Commodity Futures Trading Commission (CFTC) is probably the most crypto-friendly. In the past, the CFTC Chairman asserted that he believes that heavy regulation on the crypto industry isn’t necessary, and just recently the CFTC’s tech and innovation hub (LabCFTC) released a primer on smart contracts in order to engage with the industry’s innovators. Now, the CFTC also demonstrates that it is not shy to ask for…

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SEC Chairman Clayton: ICOs can be Effective to Raise Capital; Must Follow Securities Laws

SEC Chairman Clayton: ICOs can be Effective to Raise Capital; Must Follow Securities Laws

One crypto area that the U.S. Securities and Exchange Commission (SEC) was quite obscure about so far is initial coin offerings (ICOs). Sure, The SEC Chairman Jay Clayton has already expressed his opinion in the past that ICOs should be regarded and treated more as securities than utilities, but the agency’s general perspective of this sort of funding method remained elusive. In fact, the SEC’s approach to ICOs (and the crypto market in general) was…

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U.S. Congressman Proposes Regulatory Legislation to Initial Coin Offerings and Crypto

U.S. Congressman Proposes Regulatory Legislation to Initial Coin Offerings and Crypto

Here’s something pretty surprising that you probably didn’t expect to read: a lot of fascinating crypto-related news are recently coming from Ohio. Not that there’s anything wrong with Ohio, but it’s just… well, Ohio. So after Ohio became the first state to accept Bitcoin as payment for taxes and after several high-profile Ohio-based funds have pledged to pour millions on blockchain startups, new tidings are cropping up from the midwestern state. Local news outlet cleveland.com…

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Japan Introduces Initial Coin Offering (ICO) Regulations to Protect Investors

Japan Introduces Initial Coin Offering (ICO) Regulations to Protect Investors

On December 1, it was reported that Japan’s Financial Services Agency is set to launch regulations on initial coin offerings (ICO). Japan has moved towards regulation in this area because of concerns of ICO frauds and scams around the world. The aim of the regulation is to protect Japanese investors by limiting the amount they can invest in ICOs. Additionally, businesses offering their own cryptocurrencies will be required to register with the Financial Services Agency….

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G20 Countries Opt to Regulate Cryptocurrency to Battle Money Laundering and Terrorism

G20 Countries Opt to Regulate Cryptocurrency to Battle Money Laundering and Terrorism

Money laundering in general and money laundering via cryptocurrency in particular is something that preoccupies any political leadership of industrial nation in the world. The decentralized nature of cryptocurrency, however, makes it very difficult for individual states to fight such cyber-crimes alone, and global cooperation is certainly necessary. This is why the participants of the G20 summit in Buenos Aires, Argentina have agreed together (which in itself is quite impressive) to collaborate in order to…

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Sweden Expects an Influx of Business from Across the Border Following Norwegian Crypto Tax Hike

Sweden Expects an Influx of Business from Across the Border Following Norwegian Crypto Tax Hike

Following news that Norway plans to remove electricity subsidies for businesses using data centers to mine cryptocurrency, Sweden plans to fill the gap. Norway plans to remove the subsidies in January 2019, meaning cryptocurrency mining will become very expensive in Norway due to the tax hike involved in the process. Norway cites environment concerns for their decision, but technology experts say the decision will drive innovative crypto business away from Norway and into neighboring countries….

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Ohio Sets a Record as the First State to Accept Bitcoin as a Form of Tax Payment

Ohio Sets a Record as the First State to Accept Bitcoin as a Form of Tax Payment

True, 2018 brought with it lots of groundbreaking events in the crypto sphere but this is on a whole new scale. Although Bitcoin has gained recognition in various industries and sectors, the government has remained adamant in their decision to sit on the fence. This skepticism stems from the fact that the digital economy cuts both ways. If there is anything the government has done so far, it is making strict rules to help protect…

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UK’s Financial Conduct Authority Increasing Crypto Investigations

UK’s Financial Conduct Authority Increasing Crypto Investigations

The Financial Conduct Authority (FCA) is increasing its investigations into cryptocurrency companies. The FCA is a financial regulatory body in the United Kingdom and operates independently of the UK government. According to new figures, the number of investigations into digital currencies has doubled. With more and more companies stepping into the digital currency space, there are inevitably more issues surrounding their conduct. The FCA stated that they have conducted inquiries into 50 companies that are…

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Norway Ends Power Subsidization of Bitcoin Mining “Factories”

Norway Ends Power Subsidization of Bitcoin Mining “Factories”

Datacenters in Norway receive a tax discount, a discount given to all power-intensive industries. The public has voiced their issues with the tax discount when it comes to places that mine Bitcoin and other cryptocurrencies. Lars Haltbrekken, a Norwegian Parliamentary Representative said: “Norway cannot continue to provide huge tax incentives for the dirtiest form of cryptographic output as Bitcoin. It requires a lot of energy and generates large greenhouse gas emissions globally….We can only hope…

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