Bitcoin Miner Greenidge Q4 Revenue Matches Estimate; Reiterates Hashrate Guidance
The company also said permission for its operations to continue at its New York facility has been delayed again. Source
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Guidance
UK Advertising Regulator Issues 'Red Alert' Guidance on Crypto Ads
The U.K.'s advertising regulator has issued an enforcement notice to over 50 companies that have advertised cryptocurrency advising them to review their ads to ensure they comply with new guidance. Source
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Bitcoin Miner TeraWulf Sets 2022 Hashrate Guidance
TeraWulf (WULF), the environmentally-minded bitcoin miner backed by celebrities such as Gwyneth Paltrow that went public in December, sees itself reaching a hashrate range of 4.7 to 5.1 exahash per second (EH/s) by the end of 2022, according to a statement. Original Source
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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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White House, G7 Say New Guidance Is Coming on Crypto Sanctions Evasion
"It's hard" to move billions of dollars worth of crypto, Redbord noted. It's possible some oligarchs might turn to crypto, but that may not be their first choice. Redbord, who was with the U.S. Treasury Department prior to joining TRM, said crypto could be part of the sanctions-evasion playbook, but
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Bitcoin Mining Rig Maker Canaan Surges After Strong Results and Guidance
The combination of an expanding customer base and higher average selling price drove the better-than-expected quarter. Source
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Why We Still Need Guidance on Staking Rewards Taxation
If we instead consider staking rewards to be payment for services, we will look at §61(a)(1), which says that compensation for services is included in gross income. Generally speaking, compensation for services is paid in cash (i.e. a paycheck). However, staking rewards are paid in crypto. No matter, §83(a) tells
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UK Tax Regulator Updates Guidance on Staking and DeFi Lending
The new guidance lays out some examples of how users could decide the nature of their return from lending or staking. For instance, if the return amount, say 5% per annum, was already agreed to, it would most likely be a revenue receipt. If the proceeds are “unknown and speculative,”
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Wyoming Sen. Lummis to Propose New Crypto Regulator, Clear Guidance in 2022 Bill
Lummis, who sits on the Senate Banking committee, wants nothing short of full normalization for digital assets in the U.S., the aide said. Her upcoming bill will propose doing just that with federal rules for stablecoins, consumer protection provisions and updated taxation guidance, as well as a new watchdog: a
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[SPONSORED] Getting Ready for the FATF’s Upcoming Virtual Asset Guidance
This October, the Financial Action Task Force (FATF), the global anti-money laundering watchdog, is expected to adopt sweeping updates to its guidance on virtual assets and virtual asset service providers (VASPs). The FATF’s guidance will have a profound and widespread impact on the shape of regulation facing the crypto industry.
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