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The CEO of cryptocurrency news site The Block, Michael McCaffrey, resigned when it was revealed that the business had received an undisclosed investment from former FTX founder Sam Bankman-Fried, according to a report by Axios. McCaffrey, who became CEO in April of 2020, has also resigned from the board of
The government of the United Kingdom has proposed over thirty changes to financial regulation, some of which include the expansion of tax benefits for investment managers to include crypto assets. To replace EU law in areas like disclosure for financial products, the so-called “Edinburgh Reforms” ease ring-fencing capital regulations to
In light of the current market turmoil, the Securities and Exchange Commission (SEC) has released new rules for corporations making financial disclosures, requiring them to disclose a more comprehensive record of their connection to the crypto sector. The criteria, detailed in an illustration letter, extend beyond the balance sheet total
Koinly, a crypto tax firm located in the United Kingdom, has announced the layoff of 14% of its worldwide staff to tackle the tough circumstances affecting the cryptocurrency sector and economy at large. There will be a total of 16 layoffs, with CEO Robin Singh citing the worsening bear market
Several measures governing cryptocurrency mining in Kazakhstan have been enacted by the Kazakh legislature, including the “On Digital Assets of the Republic of Kazakhstan” bill. There will be new tax laws for cryptocurrencies, advertising for cryptocurrency transactions will be prohibited, and miners will be required to buy only power that
Nigeria has significantly reduced the daily cap on cash withdrawals from ATMs to encourage the usage of ‘eNaira,’ the Central Bank of Nigeria’s digital currency (CBDC). Individuals and organizations, who violate the government-imposed restrictions will be penalized between 5% and 10%. To enhance digital currency circulation the central bank restriction
According to the Financial Times, the UK Treasury is working to finalize a framework for Crypto regulation. There have been some major legislative shifts in the crypto industry and its interactions with overseas businesses that have made headlines recently. The regulatory status of cryptocurrencies has dominated headlines throughout the FTX
The memo, headlined “The financial-market surprises of 2023,” was released by Standard Chartered Bank on Sunday. Eric Robertsen, Standard Chartered’s global director of research, said that some of the possibilities outlined in the report are “under-priced by the markets.” The price of bitcoin may fall below $5,000 in the next
Monetization features, including a cryptocurrency called “Twitter Coin,” are supposedly under development at Twitter. Nima Owji and Jane Manchun Wong, app researchers, tweeted about a secret “Coins” option in the app’s “Tips” settings. Prior to this, Elon Musk had mentioned accepting Dogecoin (DOGE) on Twitter. Though, it’s not clear whether
In a hearing on Thursday titled “Why Congress Needs to Act: Lessons Learned from the FTX Collapse,” U.S. Senator John Boozman (R-AR), the ranking member of the U.S. Senate Committee on Agriculture, Nutrition, and Forestry, discussed bitcoin and cryptocurrency regulation. Moreover, the committee’s mandate includes monitoring the American commodities markets.
