Tag: Issues

U.S. Treasury Issues Crypto Tax Regime For 2025, Delays Rules for Non-Custodians

The IRS said it tried to avoid some burdens on users of stablecoins, especially when used to buy other tokens and in payments. Basically, a normal crypto investor and user who doesn’t earn more than $10,000 on stablecoins in a year is exempted from the reporting. Stablecoin sales – the most frequent in the crypto markets – will be tallied collectively in an “aggregated” report rather than as individual transactions, the agency said, though more sophisticated and high-volume stablecoin investors won’t qualify. The agency said that these tokens “unambiguously fall…

Japanese Regulator Issues Warning to Unregistered Crypto Platform Lbank Exchange

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The Financial Services Agency (FSA) of Japan issued a warning to Lbank Exchange, an overseas cryptocurrency platform, for operating without registration. Lbank, which ranks 56th in trading volume according to Coingecko, has been offering services to Japanese residents despite reportedly having an unknown address and representative. This action follows similar warnings issued by the FSA […] Source

Bitcoin Suisse issues tokenized bond on Obligate to raise fresh capital

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Swiss crypto custodian Bitcoin Suisse has issued tokenized bond via Obligate to double down on growth efforts in the lending business. Bitcoin Suisse, Switzerland’s largest crypto custodian with over $5.5 billion in assets under custody, has secured new capital by issuing a tokenized bond on Obligate, an on-chain capital markets platform. According to a press release shared with crypto.news, the investment-grade bond is overcollateralized and utilizes Circle’s USD Coin (USDC) stablecoin as the settlement currency. The issuance was executed via atomic settlement of the bonds against the stablecoin. Bitcoin Suisse…

Uzbekistan’s Islamic Authority Retracts Fatwa Against Cryptocurrency, Issues Apology

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Uzbekistan’s highest Islamic authority has retracted a fatwa it issued on June 3 that deemed trading with cryptocurrencies impermissible. This declaration, which stated that cryptocurrency trading violated Sharia law, was mistakenly released on social media due to an oversight. In response, the Fatwa Center issued a statement titled “Correction and Apologies.” The statement disclosed that […] Source

SEC Issues Investor Alert Highlighting 5 Common Crypto Scams

The SEC’s Office of Investor Education and Advocacy has issued an alert, highlighting five common crypto scams investors should watch out for to avoid losing money. The SEC warns that fraudsters exploit cryptocurrency popularity with sophisticated techniques, making fund recovery difficult. For example, “Fraudsters may conduct pump-and-dump schemes with crypto assets, including so-called ‘memecoins’ that […] Source CryptoX Portal

NYDFS Issues New Crypto Firm Guidance for Consumer Complaints

“Consumers have a right to a transparent and timely process for resolving complaints and answering questions, irrespective of the company or product in question,” said NYDFS Superintendent Adrienne A. Harris. “This guidance outlines clear expectations for a positive customer experience, which benefits both consumers and business.” Source

Texas Issues Emergency Cease and Desist Against Arkbit’s Crypto Operations

The Texas State Securities Board has issued an Emergency Cease and Desist Order against Arkbit Capital and its affiliates, Arkbit Capital Holdings, ABC Holdings LLC, and ABC Mining. These companies were found operating a fraudulent MLM cryptocurrency investment scheme. Promising daily returns of 1.6-2.8% for 120 days on investments between $50 and $49,999, they lured […] Source CryptoX Portal

South Africa’s FIC Unveils Draft Directive for Travel Rule Implementation; Crypto Industry Leader Issues Warning

The South African Financial Intelligence Centre recently issued a draft directive calling crypto-asset service providers to implement the Financial Action Task Force’s (FATF) travel rule. However, key figures in South Africa’s crypto industry say several factors could hinder the implementation of the FATF’s Recommendation 16. CASP Interactions With Unhosted Wallets The South African Financial Intelligence […] Source CryptoX Portal