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Elizabeth Warren, Bernie Sanders urge closure of ‘$50 billion crypto tax gap’

A number of United States lawmakers have urged the Internal Revenue Service and the Treasury to speed up the closure of tax loopholes being exploited by “crypto tax evaders.”In an Aug. 1 letter, Democratic Senators Elizabeth Warren, Bernie Sanders, Bob Casey and Richard Blumenthal warned the top officials of both

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New York Regulator Calls Crypto Theories Associated With Signature Bank Closure ‘Ludicrous’ – Regulation Bitcoin News

Adrienne A. Harris, the superintendent of New York’s Department of Financial Services, has branded as “ludicrous” the claims that the closure of Signature Bank was related to its crypto business. Harris insisted that the bank’s “high percentage of uninsured deposits” and insufficient liquidity were some of the reasons why it

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Signature Bank Closure Has Nothing to Do With Crypto, Says Regulator – Finance Bitcoin News

The decision to close down Signature Bank had “nothing to do with crypto,” said the New York State Department of Financial Services, the regulator that took possession of the troubled bank on Sunday. The financial watchdog insisted that its decision to put Signature Bank in receivership “was based on the

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Okcoin suspends USD deposits in wake of Signature Bank closure

According to a March 13 tweet by Okcoin CEO Hong Fang, the U.S. affiliate of cryptocurrency exchange OKX had no exposure to defunct U.S. tech bank Silicon Valley Bank (SVB). However, Fong stated that Okcoin’s U.S. dollar wire and ACH deposits have been “immediately paused” due to the regulatory intervention in

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