Author: Nikhilesh De

US Bank Regulator OCC Asks for Public Input on Cryptocurrency Use in Financial Sector – CoinDesk

CoinDesk

One of the federal bank regulators in the U.S., and the only one that charters national banks, is seeking public input on how it regulates new technologies and digital banking activities, including cryptocurrencies and blockchain tools. In an advanced notice Read More

IRS Solicits Contractors to Help Examine Crypto Traders’ Tax Returns – CoinDesk

CoinDesk

The Internal Revenue Service (IRS) is seeking third-party contractors to help it assess whether certain U.S. taxpayers have properly paid taxes on their crypto holdings. According to an email posted online by CryptoTrader.Tax and verified by CoinDesk, IRS Assistant Deputy Read More

Telegram Agrees to Give SEC Bank Records, Communications in Ongoing TON Lawsuit – CoinDesk

CoinDesk

Telegram is pledging to turn over communications, bank records and other information to the Securities and Exchange Commission (SEC) as part of the agency’s ongoing legal fight against the messaging startup on allegations that its $1.7 billion token sale in Read More

Securitize Builds Digital ID Service in Hopes of Creating Industry Standard – CoinDesk

CoinDesk

Securitize is rolling out a common identification system for its customers that it hopes will streamline the know-your-customer (KYC) process for all participants in the security token ecosystem. The company announced its new identification service, Securitize ID, Thursday, saying any Read More

11 Lawmakers Urge US Treasury to Consider Blockchain for COVID-19 Relief – CoinDesk

CoinDesk

Eleven members of Congress are calling on the U.S. Treasury Department to look at new technologies, including blockchain and distributed ledger technology (DLT), to help streamline how cash and supplies are distributed under a federal law trying to boost the Read More

US Authorities Freeze COVID-19 Website Alleged Scammer Tried to Sell for Bitcoin – CoinDesk

CoinDesk

The U.S. Departments of Justice (DOJ) and Homeland Security (DHS) have seized coronaprevention.org, alleging its owner tried to sell the domain for bitcoin after posting about it in a “hacker’s forum.” Announced late Friday, the unidentified owner of the site Read More

Ripple Sues YouTube for Allowing ‘Scams’ That Promise Free XRP – CoinDesk

CoinDesk

Ripple Labs and CEO Brad Garlinghouse are suing YouTube over allegations the video streaming giant has failed to police its platform against fake XRP giveaway scams, resulting in monetary damage to users and reputational harm to Ripple. Ripple’s lawsuit centers Read More

CFTC Approves Bitnomial to Offer Futures Contracts Settled in Real Bitcoin – CoinDesk

CoinDesk

The U.S. Commodity Futures Trading Commission (CFTC) approved Bitnomial Exchange to operate as a designated contracts market (DCM), meaning the exchange can now offer bitcoin futures and options contracts. The approval, granted Monday, introduces a new player to the still-small Read More

Heifer International Joins Libra Association to ‘Support Financial Inclusion’ – CoinDesk

CoinDesk

Global nonprofit Heifer International is joining the Libra Association, it announced Monday, becoming the 23rd official member of the organization. The group joined Libra to facilitate the creation of a low-cost, accessible financial system, it said in a blog post, Read More

Circle CEO Claims ‘Explosive’ Stablecoin Demand From Everyday Businesses – CoinDesk

CoinDesk

Four months after Circle pivoted to stablecoins, the startup’s new business model has received an unexpected boost from the global coronavirus crisis, said co-founder and CEO Jeremy Allaire. U.S. dollar-backed blockchain tokens are surging in popularity around the world, and Read More

‘Digital Dollar’ Reintroduced by US Lawmakers in Latest Stimulus Bill – CoinDesk

CoinDesk

The concept of a digital dollar that can be used to provide U.S. taxpayers with stimulus payments to weather the economic recession caused by the COVID-19 pandemic has once again been floated by lawmakers. Congresswomen Rashida Tlaib (D-Mich.) and Pramila Read More

Crypto Holders Still Face Issues Reporting Tax Liabilities, Survey of CPAs Finds – CoinDesk

CoinDesk

Crypto-literate public accountants are concerned their clients might face Internal Revenue Service (IRS) audits and penalties for underpaying taxes on their crypto holdings, a new survey finds. Cryptocurrency accounting service provider Blox and tax software developer Sovos conducted a survey Read More