Cryptocurrency Analysis and News Portal
The recent decision by Bybit to suspend its operations in the United Kingdom is not an isolated incident within the crypto industry. In a sudden turn of events, crypto exchange Bybit has announced its decision to suspend its operations in the United Kingdom. This move comes just a week after the
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On Monday, London High Court Justice Richard Smith dismissed Cøbra's appeal on the November ruling saying that, although there are several reasons why parties would legally request anonymity, including threat to life, Cøbra's reasons for not identifying themselves seemed "not only unworkable but also risked undermining the very principles of
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Malta’s Financial Services Authority (MFSA) has begun public consultation over changes in its crypto regulations in order to align with Europe’s Markets in Crypto-Assets (MICA) regulations set to take effect in December 2024. The public consultation period is open until Sept. 29.The revised rulebook proposes changes to the rules for exchanges,
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Bybit’s approach is grounded in cooperation and compliance, seeking to create a harmonious relationship with UK regulators and authorities. Bybit, a prominent crypto exchange remains steadfast in its commitment to stay in the United Kingdom with CEO Ben Zhou reiterating that “leaving the UK is not part of our current strategy”. The
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The FCA announced in June that it would be classifying crypto as “restricted mass market investments”, which would require all crypto advertising and marketing media to contain clear warnings concerning the risks associated with crypto investments. Cryptocurrency exchange Luno will on 6 October temporarily halt some of its services in the
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The East Asian country will set guidelines to ensure that crypto businesses establish review mechanisms, keep customers payments separate from their own tokens and comply with anti-money laundering laws (AML). It also plans to set out that unregistered overseas firms should not solicit business in the country. Original Source
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Bans on aggressive marketing were set to take effect in October, but companies can apply to delay some aspects until January. Original Source
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The United States Government Accountability Office (GAO) warns that “limits on third party information reporting to the IRS is an important factor contributing to the tax gap, which is the difference between taxes legally owed and taxes actually paid”. The United States Department of the Treasury and the Internal Revenue Service
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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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The Financial Accounting Standards Board (FASB) has unanimously approved rules for accounting for the fair value of companies’ cryptocurrency holdings, according to media reports. The rules will go into effect in 2025.The FASB is the United States organization that sets accounting and reporting standards for organizations that follow U.S. Generally
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