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European Countries Step Up Response to Facebook’s Libra

The European Central Bank (ECB) and a number of countries in the region have stepped up their efforts in response to Facebook’s Libra, which has revived a competing ECB project for instant payments. As Facebook engages Switzerland’s financial regulator, the ECB clarifies how Libra can…

IRS Is Hunting Cryptocurrency Traders With Warning & Action Letters

The latest cryptocurrency news put the Internal Revenue Service (IRS) in the focus. According to reports, the IRS is hunting suspected cryptocurrency holders and traders who may have misreported digital assets on their tax returns. As the sources show, there have been more than 10,000…

First Crypto Banks In Switzerland Are Seen As A “Game Changer”

Cryptocurrency banks are a new thing on the horizon – and they are already showing up in Switzerland. As sources report, the first crypto banks in the country could open the floodgates to the integration of cryptocurrencies as well as other digital assets in the…

China Plans Crackdown On Crypto Mining In Inner Mongolia

Big news come from China as the regulators of the Chinese autonomous province of Inner Mongolia plan a complete clean up of the province and its crypto mining enterprises. It seems that China plans crackdown on the crypto mining industry in this province. As the…

Crypto Facilitates Money Transfer for Restricted China

Crypto is not illegal in China, but it is illegal for banks and financial institutions to deal in crypto. It’s also illegal for nationals to send over $50,000 in fiat money in a day, without government permission. Restrictive banking regulations, international trade wars, and a…

Companies propose travel rule solutions, but governance question remains

Since the Financial Action Task Force (FATF) released its guidance in June, industry players have raced toward a protocol solution for the so-called “travel rule.” Now multiple entities are coming forward with proposals. However, Global Head of Policy at Chainalysis Jesse Spiro said the travel…

Germany takes aim at Facebook Libra; plans to block private stablecoins

The German grand coalition, the governing coalition of the two biggest political parties in Germany, is looking to deny the launch of projects like Libra, according to a report by Spiegel. This month, members of the German government will approve the country’s blockchain strategy which…

France Takes Out Tax Requirements on Crypto-to-Crypto Trades

Bruno Le Maire, the French minister for the economy, has revealed that the government will not be imposing taxes on crypto-to-crypto trades. The policymaker made his statement in an interview with Bloomberg on September 12, 2019, stating that they will only be taxing cryptocurrency gains…