Cryptocurrency Analysis and News Portal
The proposal was filed with the Texas Secretary of State, which sought to address and clarify the reporting requirements of political contributions made with cryptocurrencies. According to the filing:“The new rule permits candidates, officeholders, and political committees to accept cryptocurrency. It does not distinguish between any types of cryptocurrencies, like
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A committee of the U.S. House of Representatives has proposed to subject cryptocurrencies to the “wash sale” rule. Since cryptocurrencies are treated as property by the Internal Revenue Service (IRS), they are currently not subject to the wash sale rule. This proposal attempts to close down a big crypto tax
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Democrats in the U.S. House of Representatives have proposed tax initiatives to fund a $3.5 trillion spending package which could potentially affect crypto users. According to a document released by the House Committee on Ways and Means on Monday, the proposal would increase the tax rate on long-term capital gains from
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The non-fungible token (NFT) industry has exploded in 2021 as millions of dollars worth of cryptocurrencies continue to be traded for these blockchain collectibles every single day. This week, Cryptox.trade News chatted with the popular American rapper Ja Rule about NFTs as he has partnered with James Cropcho and Robert
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The Australian Department of Home Affairs stated that the country lacked the technical capabilities to implement a system that complies with the travel rule proposed for cryptocurrencies. The Department concluded this in an appearance before the Senate in Australia last Friday. However, the Australian Department also stated that, if implemented,
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Bitcoin has walked away from pursuing a lengthy downside correction repeatedly this year. The cryptocurrency’s run-up to $58,367 in February attracted a modest selling pressure as the price dipped by 26.30 percent afterward. Similarly, its previous rally above a then-record high of $41,000 followed up with a 30 percent bearish correction. Last
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Getting crypto exchanges across the world to plug into each other and share sensitive customer data is proving to be a complex problem. Nonetheless, firms have to show real progress on this by June of this year, according to new anti-money laundering (AML) rules from global AML watchdog the Financial Action
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Crypto exchange BitMEX has published a framework of principles for how best to store additional batches of transactional provenance data, a requirement exchanges face as part of new anti-money laundering (AML) rules.In order to fall in line with the rest of the financial system, virtual asset service providers (VASPs) have
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Financial institutions report large cash and crypto transactions differently. This gap led to a controversial rule proposed by the Financial Crimes Enforcement Network (FinCEN) late last year, an official said Monday.Speaking at a virtual panel hosted by compliance firm TRM Labs, FinCEN Deputy Director Michael Mosier was referring to a
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Dutch Bitcoin exchange platform, Bitonic, has filed a preliminary injunction at a Rotterdam court seeking the suspension of a wallet verification rule enacted by the central bank.Back in November 2019, De Nederlandsche Bank, or DNB, mandated crypto exchanges to ensure their users comply with stringent Know Your Customer protocols. These
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