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Iran Offers Bounty for Illicit Cryptocurrency Mining Operations

Iranian authorities are offering a bounty to anyone who exposes unauthorized mining operations in the country, Iranian news outlet PressTV reports on Nov. 13.A spokesman of the Energy Ministry announced the bounty program during an interview with local news outlet IRIB News, while illustrating the new electricity pricing mechanism for miners.Mostafa Rajabi, the spokesman in […]

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Russia Prepares Law to Allow Cryptocurrency Confiscation

According to local reports, Russia’s Ministry of Internal Affairs and other law enforcement agencies are developing proposals to confiscate cryptocurrencies. These proposals could evolve into Russian laws as soon as 2021. “Russia plans to develop a legal mechanism for the seizure of virtual assets for their confiscation,” according to a translated report from RBC. “The relevant […]

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Lawmakers Pummel Zuckerberg But Don’t Have A Clue How To Regulate Cryptocurrency

The rapid pace of technological change provides a breathtaking opportunity to challenge and change the world. We are moving toward a technology space that is swift, connected and digitized. This will not only reshape industries but also the regulatory frameworks around them.With this in mind, regulators must reimagine how they oversee new technology and how […]

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US Congressman: Default Reaction to Bitcoin, Blockchain Must Be ‘Yes’

U.S. Congressman Patrick McHenry, who represents North Carolina’s 10th District, says he wants regulators’ default reaction to crypto innovation to be “yes.” The Congressman — who goes by the moniker of “Mr. Fintech” on Capitol Hill — made his remarks during an interview for Laura Shin’s Unchained podcast, published on Oct. 22.Reintroducing the Financial Services Innovation […]

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The IRS’ Latest Cryptocurrency Tax Guidance Shows It Still Doesn’t Get It

The US Internal Revenue Service (IRS) issued updated guidance for calculating taxes owed on cryptocurrency holdings yesterday. It’s the organizations first update in five years and it asks more questions than it answers.In short, the IRS has firmed its stance that cryptocurrency should be taxed under the same rules as any other property or capital […]

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The IRS Just Issued Its First Cryptocurrency Tax Guidance in 5 Years

The U.S. Internal Revenue Service (IRS) has published its first guidance in five years for calculating taxes owed on cryptocurrency holdings.Industry members have been eagerly awaiting the update since May 2019, when IRS Commissioner Charles Rettig said the agency was working on providing fresh guidance. The agency’s 2014 guidance left many questions unanswered, and the […]

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New York State Financial Regulator Hiring Crypto and Blockchain Specialist

New York state’s financial regulator is hiring a specialist with expertise in the field of virtual currencies and blockchain, per a recently published announcement.The Department of Financial Services is looking to hire a Deputy Superintendent in the Research and Innovation Division, with a background in cryptocurrencies, blockchain, distributed ledger technology and other related fields. The […]

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Marshall Islands Official Explains National Crypto With Fixed Supply

An official from the Marshall Islands has published an essay explaining the country’s national cryptocurrency project ahead of the Invest: Asia 2019 conference.The issuance of the Marshallese sovereign (SOV) was discussed in an essay by The Honorable David Paul — Minister In-Assistance to the President and Environment of the Marshall Islands — published by Coindesk […]

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