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The United States Financial Accounting Standards Board’s new rules for crypto accounting will eliminate the “poor optics” that plagued companies holding digital assets, according to analysts from Berenberg Capital.On Sept. 6, the U.S. Financial Accounting Standards Board (FASB) approved new rules for cryptocurrencies with regard to how companies report the
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Genesis Global Trading (GGT) will close down its cryptocurrency spot trading service on Sept. 18, according to press reports. GGT is affiliated with the Digital Currency Group (DCG), but it was not affected when the parent company’s crypto lender, Genesis Global Capital, declared bankruptcy in January. The GGT trading shutdown is
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied A New Jersey resident, John Michael Musbach, has been sentenced to 78 months in prison following his attempt to hire a hitman via the dark web to assassinate a minor he had previously sexually exploited. The objective
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U.S. Sens. Josh Hawley, a Republican from Missouri, and Richard Blumenthal, a Democrat from Connecticut, introduced a Senate bill on June 14 that would eliminate special protections for artificial intelligence (AI) companies that are currentl afforded to online computer services providers under the Communications Decency Act of 1996 (CDA).Today @SenBlumenthal
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A new crypto wallet has just launched in Apple’s App Store store that uses Web2 trickery to ensure users don’t need to interact with seed phrases or passwords.According to a May 11 announcement from the app’s developer, Kresus, the new wallet stores users’ private keys in an Amazon Web Services
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Sweden is doing away with tax incentives for data centers come July 2023. This decision could affect bitcoin (BTC) miners who had turned to the Nordic country to increase their profitability. Sweden is eliminating tax incentives for
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A recent blog post from cryptocurrency exchange Coinbase indicates the vast majority of U.S. remittance fees for international transfers wouldn’t apply to similar transactions conducted using cryptocurrency. According to the exchange’s research, “The US average fee rate of 6.18%, means Americans' average yearly spend is likely close to $12 billion on
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Since the collapse of three American banks friendly to cryptocurrency businesses and the U.S. government’s insistence that crypto assets are “risky investments,” many speculators believe bureaucrats are purposely closing access to cryptocurrencies. Some refer to the U.S. government’s recent enforcement as “Operation Chokepoint,” a mission aimed at eliminating access to
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By a very large margin, Tether comes off as one of the top three companies operating as a Virtual Asset Service Provider (VASP) that receives a constant attack from mainstream media per its reserve. Tether Holdings Plc, the issuer of the world’s largest stablecoin, USDT has announced plans to reduce the
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A proposal to eliminate the physical representation of the Argentine Peso, in order to streamline specific state processes and reduce tax evasion, has been presented by former banker Carlos Maria De Los Santos. The plan, identified as “Argentine Digital Peso,” also predicts that its implementation would lead to lower taxes
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