Following the recent suspension of Binance’s local bank deposit and withdrawal functionality in both Australia and the UK, why does it seem to be the majority-English-speaking countries whose banks are coming down hardest on crypto?
The U.S. Securities and Exchange Commission has sued Coinbase, the U.S.-based cryptocurrency exchange, for operating as an “unregistered broker, exchange and clearing agency”.
The U.S. Securities and Exchange Commission has sued Coinbase, the U.S.-based cryptocurrency exchange, for operating as an “unregistered broker, exchange and clearing agency”.
Following the recent suspension of Binance’s local bank deposit and withdrawal functionality in both Australia and the UK, why does it seem to be the majority-English-speaking countries whose banks are coming down hardest on crypto?
The Treasury Select Committee says unbacked “cryptoassets” have no intrinsic value or useful social purpose and retail trading is more like gambling than financial services. Bad news for the UK Government’s plan to make the country into a crypto hub.
Binance.US and CEO Changpeng Zhao are exploring strategies to reduce his majority stake in the company to ease tension between Binance and U.S. regulators and continue operations in the region.
The Central Bank of Russian Federation has been developing the country's first central bank digital currency – the Digital Ruble for several years. There have been announcements by authorities that it might be launched soon.
The U.S. may impose additional tax on cryptocurrency mining (cryptomining) operations. According to the White House, the tax is intended to offset the expenses that cryptomining operations place on society.
Crypto assets are a new and complicated category for accountants. Clear accounting and reporting guidelines are one of the signs of a mature industry. Currently, it is difficult to call US GAAP and IFRS guidance on crypto-assets comprehensive, but the work is ongoing.
