IRS official Julie Foerster said in April during CoinDesk’s Consensus event that she could not say when the agency planned to update and clarify the guidance, and that it was looking into other ways of communicating with the industry so that taxpayers can voluntarily comply with the reporting requirement. Source
Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The SEC has asked a United States federal court to freeze the entire assets of BinanceUS, to prevent the “dissipation of the exchange’s available assets for any judgment.” Binance.US will be mandated to repatriate customers’ crypto and fiat currencies if granted. SEC aiming to freeze BinanceUS assets Barely 48 hours after taking legal action against Binance and its founder, Changpeng Zhao (CZ), the United States Securities and Exchange Commission (SEC) is set to take more drastic…
A public-private partnership in El Salvador pledging to pump $1 billion into creating a Bitcoin (BTC) mining farm has received its first $250 million. This first release of funds kickstarts a 241-megawatt (MW) power generation park in the country’s Metapán region. Volcano Energy, the company behind the site, said the funds would go toward developing the power generation park using solar and wind energy, which will eventually power the Bitcoin mining operation. Volcano Energy chairman Max Keiser took to Twitter on June 7 to announce the news. .@Volcano_Energy receives the…
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CryptoX – Cryptocurrency Analysis and News Portal The securities regulator detailed evidence of hundreds of millions of dollars in profiteering by the crypto exchange as they seek to freeze assets of the company. Original Source The post SEC’s Binance.US Probe Started in 2020, Court Filings Show appeared first on CryptoX. CryptoX Portal
The United States House of Representatives Financial Services Committee has scheduled a hearing on crypto to discuss its future and provide clarity for the digital assets ecosystem. On June 6, Representative Patrick McHenry, the House Financial Services Committee chairman, announced a full committee hearing titled: “The Future of Digital Assets: Providing Clarity for the Digital Asset Ecosystem.” The hearing is scheduled for June 13 at 2:00 pm Eastern Time. According to the committee, the hearing will be live-streamed on its website. Screenshot of the announcement of a hearing on the…
Bitcoin (BTC) swiftly erased its month-to-date losses into June 7 as volatility returned to ultimately favor the bulls. BTC/USD 1-hour candle chart on Bitstamp. Source: TradingView BTC price cancels Binance, Coinbase dip Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting $27,388 on Bitstamp — almost a new June high. The pair continued a rebound which had begun the day prior, with markets shaking off initial nerves from United States legal action over Binance and Coinbase. In so doing, Bitcoin recovered all of its lost ground, returning to its…
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ARK bought 419,324 shares of Coinbase, worth around $21.6 million based on Tuesday’s closing price of $51.61. The buy was split across ARK’s Innovation ETF (NYSE:ARKK), the Next Generation Internet ETF (NYSE:ARKW), and the Fintech Innovation ETF (NYSE:ARKF). Source
A U.S. judge has ordered the SEC to respond to Coinbase’s rulemaking petition or explain why it shouldn’t. Source