Treasury Department Issues Guidance on Using Crypto to Evade Sanctions
The White House said earlier in the day that such guidance would be forthcoming. Source
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Justice Department Will Prosecute Banks, Crypto Exchanges That Help Russians Hide Assets: Report
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US Department of Labor Urges ‘Extreme Care’ Before Adding Crypto to 401(k) Plans
The Labor Department said crypto presents “significant risks and challenges to participants’ retirement accounts, including significant risks of fraud, theft and loss.” It highlighted as reasons speculation and volatility, challenges to making informed investment choices, custodial and record-keeping concerns, the lack of reliability of cryptocurrency valuations and an evolving regulatory
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Treasury Department Launching Crypto Education Initiative: Report
The initiative centers around informing the public about the potential risks of investing in crypto. Source
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US Justice Department Indicts BitConnect Founder
US Justice Department Indicts BitConnect Founder Source
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Puerto Rican Treasury Department Aims to Tax NFT Sales – News Bitcoin News
The Treasury Department of Puerto Rico has published a working document that amends the current “Sales and Usage Tax” to include NFT sales. While this proposal has yet to be approved, experts believe the inclusion of NFTs in this reform brings validation to the asset class, but also that the
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US Treasury Department Warns of NFT Risk in Art-Related Money Laundering
The U.S. Department of the Treasury warned that non-fungible tokens (NFTs) may become a tool for money laundering in the high value art market. Original Source
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Crypto tax doesn’t legalize trading, says Indian tax department chief
The head of the Central Board of Direct Taxes (CBDT) in India said the recent announcement of a 30% tax on crypto holdings doesn’t necessarily make the crypto trade legal in India.The finance minister of India announced a 30% tax on crypto holdings during the budget session on Feb. 1,
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Binance was withholding information from regulators, repeatedly shunned own compliance department
In a report published on Friday, Reuters laid out the findings of its investigation into the regulatory compliance practices of Binance, the world’s largest cryptocurrency exchange by trading volume.The authors suggest the existence of a recurring pattern whereby the company’s CEO Changpeng Zhao, while proclaiming its openness to government oversight,
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India’s Central Bank Creates FinTech Department as Challenges Posed by Crypto, CBDC Grow
According to an internal administrative circular viewed by coindesk, the upgrading of that unit into its own department is aimed at promoting innovation in the sector, identifying the challenges and opportunities associated with it and addressing them in a timely manner, and providing a framework for further research on the
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