Cryptocurrency Analysis and News Portal
Mining for cryptocurrencies can be highly energy intensive, with bitcoin mining alone requiring the same amount of electricity as the Netherlands' annual total power generation, or 0.5% of total global electricity consumption, Morgan Stanley said in a report entitled “ESG Considerations.” Source
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Italy has published new anti-money laundering (AML) rules for crypto firms in Italy’s formal journal of record, indicating the rules are ready to take effect. Original Source
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A set of critical safeguarding rules are common to any cryptocurrency transaction, wherever the jurisdiction: tracking blockchain transactions to identify suspicious entities, updating policies and aligning with the latest regulatory requirements, customizing monitoring mechanisms to identify specific risks, conducting consistent risk assessment exercises and studying historical transaction data to identify
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In Tuesday’s statement, the Basel Committee said its members had reiterated the importance of “developing a conservative risk-based global minimum standard” to manage risks to the banking system from crypto assets that is consistent with the general principles laid out in its previous consultation. Original Source
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Binance’s global platform this week announced it would be ending its derivatives offerings to Australian crypto traders by year’s end. Binance is a separate entity from Binance Australia, which, in turn, is operated by InvestbyBit. The latest moves can be viewed as an attempt to stimy the fallout from regulatory
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A forum of some of the U.S. and Europe’s biggest banks have opposed the rules proposed by the world’s central banks and regulators for capital requirements on bitcoin exposure.The Global Financial Market Association (GFMA), made up of such institutions as JPMorgan and Deutsche Bank, as well as several other industry
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The deadline for cryptocurrency exchanges to meet the requirements to continue operations under new crypto regulations in South Korea is rapidly approaching. A total of 28 cryptocurrency exchanges have reportedly been cleared by the regulators to remain open. However, only four crypto exchanges have met the requirements to offer trading
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The United States Internal Revenue Service, or IRS, has updated its FAQ section on cryptocurrency to clarify investors who have only purchased crypto assets with fiat currency do not need to report their transactions under the "virtual currency" question.The first page of U.S. citizens’ Individual Income Tax Return form, or
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