Stablecoins’ lack of solid risk management standards exposes them to ongoing risks that could also put financial stability in danger, according to the United States Financial Services Oversight Council (FSOC). “Stablecoins continue to represent a potential risk to financial stability because they are acutely vulnerable to runs absent appropriate risk management standards,” the FSOC said […]
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Czech gov’t moves to exempt crypto held for 3+ years from being taxed
Petr Fiala, prime minister of the Czech Republic, has reported that the country is moving to pass legislation allowing residents to bypass taxes on selling their crypto after holding it for more than three years. In a Dec. 6 X post, Fiala said the measure, backed by Chamber of Deputies member Jiří Havránek, would “guarantee […]
Financial Times issues ’apology’ to Bitcoiners after 13 years of criticism
FT Alphaville — a daily news commentary service created by the Financial Times — has been slammed on X after issuing a spiteful apology to Bitcoiners as the asset soared to $100,000 on Dec. 5. The op-ed — published on the same day — was seen as a tongue-in-cheek apology to those who chose not to invest […]
SEC defends amended suit against Binance, CZ over securities claims
The United States Securities and Exchange Commission (SEC) has responded to a motion for the dismissal of its amended suit against cryptocurrency exchanges Binance and Binance.US and former Binance CEO Changpeng Zhao alleging they operated an unregistered securities exchange. The allegation is based on the sale of ten cryptocurrencies on the secondary market intermediated with […]
Australia to crack down on crypto ATM providers, citing money laundering risk
Australia’s national financial intelligence agency has flagged crypto as a priority for the year ahead and is creating a new task force to crack down on crypto ATM providers who may be flouting Anti-Money Laundering laws. In a Dec. 6 statement, Australian Transaction Reports and Analysis Centre (AUSTRAC) CEO Brendan Thomas said the government agency is […]
Enron relaunch headed by pranksters hints at offering crypto token
An elaborate prank is seemingly bidding to resurrect the disgraced former United States energy giant Enron Corp., and it has even hinted at launching a crypto token. On Dec. 2 — 23 years after the firm filed for bankruptcy after years of accounting fraud caught up to it — a company representing itself as Enron […]
Russia sentences Hydra market founder to life in prison
Stanislav Moiseev, the founder of the online black market and crypto mixing service Hydra which took in over $5 billion worth of crypto during its operation, has been sentenced to life in prison by a Russian court. A Moscow Regional Court found Moiseev and 15 of his accomplices guilty of organizing a criminal community and […]
Roger Ver moves to dismiss US tax evasion charges as ‘unconstitutional’
Roger Ver — also known as “Bitcoin Jesus” — has urged a United States judge to dismiss a case from US prosecutors alleging he committed tax evasion when selling millions of dollars in Bitcoin, claiming the case is unconstitutional. In a Dec. 3 filing to a California federal court, Ver argued that the Internal Revenue Service’s (IRS) […]
Crypto markets claw back as South Korea reverses martial law
The cryptocurrency market regained some footing after South Korean President Yoon Suk-yeol reversed his declaration of martial law — less than six hours after imposing it. The declaration was lifted around 4:30 am local time during a Cabinet meeting, per local reports. Around 190 lawmakers in the country’s 300-member parliament voted to reject the martial […]
Bitcoin miner Foundry lays off staff amid restructuring
Foundry, the world’s largest Bitcoin BTC$95,649 mining pool, has laid off 27% of its staff amid a planned restructuring, a person familiar with the matter told Cointelegraph on Dec. 3. The layoffs include 16% of Foundry’s United States-based workforce and a portion of its team in India as well, the person said. Foundry’s parent company, Digital Currency […]
