CEOs of major banks, including JPMorgan Chase, Wells Fargo, Bank of America, Citigroup, Goldman Sachs, BNY Mellon, Morgan Stanley, and State Street, recently testified before the Senate Banking Committee. During the hearing, JPMorgan Chase CEO Jamie Dimon expressed his opposition to cryptocurrencies, stating that if he were the government, he would shut them down. Dimon […]
A bill has been introduced to the New Jersey general assembly that seeks to classify digital assets sold to institutional investors as securities. The proposed legislation specifically targets virtual currencies sold directly to institutional investors and defines institutional investors as entities such as banks, hedge funds, endowments, and pension funds. If passed, the bill would […]
A bill has been introduced to the New Jersey general assembly that seeks to classify digital assets sold to institutional investors as securities. The proposed legislation specifically targets virtual currencies sold directly to institutional investors and defines institutional investors as entities such as banks, hedge funds, endowments, and pension funds. If passed, the bill would […]
The US Internal Revenue Service (IRS) has reported an increase in crypto tax investigations for the 2023 fiscal year. Cases range from failure to report capital gains to concealing crypto ownership disclosures. The IRS initiated over 2,676 cases involving $37 billion related to tax and financial crimes. These investigations involve unreported income from the sale […]
The US Internal Revenue Service (IRS) has reported an increase in crypto tax investigations for the 2023 fiscal year. Cases range from failure to report capital gains to concealing crypto ownership disclosures. The IRS initiated over 2,676 cases involving $37 billion related to tax and financial crimes. These investigations involve unreported income from the sale […]
Cryptocurrency companies are increasing their lobbying spending in an effort to repair their reputations and advocate for favorable legislation, according to a Reuters report. Despite facing regulatory scrutiny and high-profile scandals, these companies are investing significant resources in engaging with policymakers and building a reasonable regulatory framework. In the first three quarters of 2023, cryptocurrency […]
Cryptocurrency companies are increasing their lobbying spending in an effort to repair their reputations and advocate for favorable legislation, according to a Reuters report. Despite facing regulatory scrutiny and high-profile scandals, these companies are investing significant resources in engaging with policymakers and building a reasonable regulatory framework. In the first three quarters of 2023, cryptocurrency […]
The House Financial Services Subcommittee on Digital Assets, Financial Technology, and Inclusion recently held a significant hearing to address the impact of new technologies on the financial sector. Representatives from federal agencies, including the Federal Reserve, SEC, and OCC, testified about the increasing influence of digital assets, distributed ledgers, and artificial intelligence (AI). The hearing […]
The House Financial Services Subcommittee on Digital Assets, Financial Technology, and Inclusion recently held a significant hearing to address the impact of new technologies on the financial sector. Representatives from federal agencies, including the Federal Reserve, SEC, and OCC, testified about the increasing influence of digital assets, distributed ledgers, and artificial intelligence (AI). The hearing […]
The United States Securities and Exchange Commission (SEC) has postponed its decision on whether to approve or disapprove a spot Ethereum exchange-traded fund (ETF) offered by Grayscale, an asset manager. The SEC stated that it needs more time to consider the proposed rule change and the issues raised. As a result, the commission has designated […]
