United Kingdom’s Bank Santander to Stop Payments to Cryptocurrency Exchanges

Next year, real-time payments to cryptocurrency exchanges will be prohibited by the UK bank Santander. According to an email to customers originally covered by Reuters, the action is meant to shield users against fraud.

Read-more

Latest News

ForUsAll And Fidelity Have Started Offering Crypto For Retirement Plans

This October, Fidelity, an asset management company with a $4.5 trillion market cap, announced that some of its 401(k) retirement plans had started including Bitcoin in their investing options.

Read-more

India May Tax Cryptocurrency Income From Companies With Foreign Headquarters

Those who own virtual digital assets (VDAs), cryptocurrencies, or perhaps even investments in DAOs (Decentralized Autonomous Organizations) may be significantly impacted by new amendments to the filing of income tax returns suggested by India’s taxation body.

Read-more

South Korean Officials Aim to Increase Penalties For Crypto Fraud

Following the Terra collapse in the spring of last year, South Korean lawmakers plan to tighten regulations with a focus on protecting investors in virtual assets, such as digital currencies, and toughening the penalties for unethical commercial practices in the sector.

Read-more

Paraguay Issues Warning Regarding Rise of Illegal Bitcoin Mining Operations

Paraguay’s reputation as a nation with low power costs for bitcoin mining negatively impacts the electric grid, which might undermine the country’s capacity to maintain a stable power system. The National Power Administration, ANDE, reported on October 28

Read-more

Chile Now Allows Cryptocurrency Exchanges to Open Bank Accounts

A Chilean bank named Bci declared on October 28 that a protocol had been created to let cryptocurrency exchanges open checking accounts with the institution. This is a significant victory for the nation’s

Read-more

Shares of Bitcoin Miner Core Scientific Plunge After Bankruptcy Warning

The biggest bitcoin miner in the world, Core Scientific (CORZ), warned that if its financial situation doesn’t improve, it could have to consider filing for bankruptcy. The warning caused its shares to drop 77%, reaching as little as 23 cents. The miner predicted

Read-more

Monetary Authority of Singapore Wants to Ban Cryptocurrency Credits

Following the failure of Singaporean cryptocurrency hedge fund Three Arrows Capital (3AC), the Monetary Authority of Singapore (MAS) is implementing further measures to regulate the industry.

Read-more

US Legislators Ask Authorities About Cryptocurrency Industry’s “Revolving Door”

Five U.S. lawmakers requested a response from the heads of the Securities and Exchange Commission, Commodity Futures Trading Commission, Treasury Department, Federal Reserve, Federal Deposit Insurance Corporation,

Read-more

IRS Updates Guidelines For 2022 Tax Filing Relating to Cryptocurrency

The draft instructions for tax form 1040 for 2022 were provided by the Internal Revenue Service (IRS) last week. The tax form used in the United States to file individual income tax returns is called Form 1040. The updated instructions include a number of cryptocurrency-related improvements.

Read-more