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Stablecoin Adoption Can Impact Economy, Warn Senior US Regulators

News A panel of senior financial regulators in the United States has warned the public about the purported risks of stablecoins and cryptocurrencies. A report issued on Dec. 4 by the Financial Stability Oversight Council (FSOC) highlighted potential problems resulting from stablecoins gaining wid..

Kazakhstan Won’t Tax Cryptocurrency Mining: Report

News Kazakhstan’s lawmakers won’t be taxing cryptocurrency mining until the mined crypto is exchanged for fiat money. According to a legislative analyst at a local blockchain association, cryptocurrency mining will not be treated as entrepreneurial activity but rather a “purely technological progr..

Plaintiffs in Tether-Bitcoin Price Manipulation Case Will Not Drop Complaint

News The plaintiffs in a class-action lawsuit accusing the Tether (USDT)-affiliated crypto exchange Bitfinex of Bitcoin (BTC) price manipulation have declined to amend their complaint. According to a court filing dated Dec. 2, the plaintiffs declined to make amendments to their complaint as a stud..

Former Charlie Shrem Attorney to Represent Arrested Ethereum Dev

News Renowned trial attorney Brian Klein has revealed he will represent Virgil Griffith, the developer recently arrested for participating in a blockchain conference in North Korea. In a tweet posted on Dec. 3, Klein stated that his client disputes the “untested allegations in the criminal complai..

Former CFTC Chair to Remain Focused on Crypto and Blockchain at New Law Firm

News Former United States Commodity Futures Trading Commission (CFTC) chairman Chris Giancarlo was hired as senior counsel at the New York-based law firm Willkie Farr & Gallagher. Digitize the dollar and take power away from central banksOn Dec. 2, Reuters reported that Giancarlo in his new role a..

Vitalik Buterin Supports Petition to Free Arrested Blockchain Dev

News Ethereum (ETH) co-founder Vitalik Buterin has declared his solidarity with Virgil Griffith, the American citizen arrested for his blockchain educational activities in North Korea. In a tweet posted on Dec. 1, Vitalik shared a link to a blog post penned by blockchain firm CEO Enrico Talin, whi..

US Lawmakers Want to Brand Libra a Security, Association Disagrees

Analysis A couple of United States lawmakers are looking to classify stablecoins as securities. With Libra considering adopting fiat-pegged stablecoins rather than a single token supported by a basket of national currencies, the proposed crypto project might be facing yet another regulatory hurdle..

Disgruntled Investor Sues Stox Prediction Market and Founder

News Israeli crypto entrepreneur Moshe Hogeg and his blockchain firm Stox (STX) are facing a lawsuit from a disgruntled investor in the United States. A Vancouver-based investor has accused Hogeg of major breaches of contract and alleged fraud that caused him losses of at least $430,000, according..

IRS Not Infringing Privacy Requesting Crypto Exchange Data: US Judge

News A California federal court has affirmed the validity of the United States Internal Revenue Service’s (IRS) request for data from crypto exchange Bitstamp in connection with an individual tax reporting case. Per a Nov. 25 filing, the court has found that five of the six arguments presented aga..

Germany: New Proposed Law Would Legalize Banks Holding Bitcoin

News A new bill in Germany could enable banks to support the sale and custody of Bitcoin (BTC) and other cryptocurrencies by 2020. German news agency Handelsblatt reported on Nov. 27 that the bill now requires consensus from the country’s 16 states, having successfully passed through the Bundestag..

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