Are other countries trying to copy El Salvador's 🇸🇻 #Bitcoin regulations? 🌍 José Rodríguez discusses the ripple effect of El Salvador's pioneering laws and how the region is responding. Watch it here: https://lnkd.in/eVVVmgYB
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California Governor recently approved new cryptocurrency regulations for the state that will take effect in July 2025. The regulations, known as the #Digital #Financial #Assets Act aim to strengthen and promote #crypto business regulations. In short, businesses and individuals who want to operate in crypto activities will be required to obtain a #license to continue operations in #California.
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According to the latest draft policy, fines for market manipulation would range from 5,000 euros to 5 million euros ($5,400 to $5,4 million). the European Union's Markets in Crypto-Assets (MiCA) regulatory framework, Italy will increase crypto market surveillance. . . Follow Bitdenex - Bitcoin Exchange for more such News and Updates . . #cyrpto #bitdenex #latestnews #italy #cryptomarket #italiangovernment #bitcoin #cryptonews #europeanunıon #linkedinpost
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The SEC has proposed a business practice that would allow some companies and financial institutions to avoid the controversial cryptocurrency accounting guidelines set by the Financial Accounting Standards Board (SAB 121), The Block reports. Since SAB 121 was issued in March 2022, many cryptocurrency companies have gone bankrupt, prompting companies to seek SEC advice on related policies. The SEC source explained that companies with specific procedures and technologies to safely repay cryptocurrencies, similar to other assets like dollars, may avoid SAB 121 obligations. However, cryptocurrency companies themselves would not be exempt. Despite passing both houses of Congress, a resolution to repeal SAB 121 was vetoed by President Joe Biden 🏛️💼 #BitcoinWorld
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Updates to Cryptocurrencies and related products policy (December 2023) Beginning January 29th, 2024, advertisers offering Cryptocurrency Coin Trust targeting the United States may advertise those products and services when they meet the following requirements and are certified by Google. Cryptocurrency Coin Trusts Examples (non-exhaustive): financial products that allow investors to trade shares in trusts holding large pools of digital currency. https://lnkd.in/dDwQv4iM
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In Episode 2 of the CryptoCounsel, hosts Josh Simmons and Frank Scaduto decode recent litigation with the SEC and two key cases in the Southern District of New York. In the first case, a judge found that Ripple’s cryptocurrency XRP is not a security when sold to individual investors. But in the second case, a different SDNY judge found that 13 of Coinbase's listed cryptocurrencies are securities. These divergent cases underscore the complexity and uncertainty of applying existing securities laws to cryptocurrencies, which will continue to be contested in the courts. #Crypto #Cryptocurrency #Litigation https://lnkd.in/e9B4x9f5
A Tale of Two Crypto Cases
wiley.law
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Latvia leads the way in EU crypto regulation! Find out how businesses are preparing for MiCA compliance. 🔗 Full details in the article!⬇ https://shorturl.at/Bo0zP #BlockTour #Bitcoin #Crypto #Defi
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SEC Triumphs in Lawsuit Against Crypto Influencer Ian Balina According to Odaily, the Securities and Exchange Commission (SEC) has won a lawsuit against cryptocurrency influencer Ian Balina. The court ruled that Balina violated securities laws during his participation in a cryptocurrency token Initial Coin Offering (ICO) in 2018. After purchasing Sparkster (SPRK) tokens, Balina offered them to investors in the United States within his investment pool. This action was deemed as the sale of unregistered securities. #SEC #ETF #DeFi #Metaverse #crypto #compliance #news #virtualcurrency #law #USA #India #Tokenization Disclaimer: Includes thrid-party opinions. No financial advice. May include sponsored content.
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In an article for the New York Law Journal, Robinson+Cole’s Benjamin Daniels, Jenna Scoville, and Ileana Polanco Cavazos examine two cases, SEC vs. Ripple and SEC vs. Terraform, that reached different conclusions concerning cryptocurrency’s status as a currency or security. While both cases focused on each platform’s marketing and investor reports, the court’s used different standards to evaluate whether the cryptocurrency in question was an investment contract or simply a currency transaction. “Companies should closely evaluate all statements made to investors about cryptocurrencies,” the authors urge, and “focus on whether they are portraying crypto assets as investments through the nature of transactions, statements to investors, or any other representations.” https://lnkd.in/d8ctqMUF #cryptocurrency #securities
New York District Courts Split on Whether Cryptocurrency Is a Security | New York Law Journal
law.com
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Leverages Tax Preparation Expertise to Assist Clients in Accurately & Correctly Completing & Filing Tax Returns
Get in the know about digital assets!
“What Enrolled Agents Need to Know About Form 8300 and Digital Assets” Businesses who accept cryptocurrency (crypto) as payment and many tax practitioners who provide compliance services for those businesses were relieved to hear that the Internal Revenue Service (IRS) has delayed the requirement for reporting digital asset transactions that exceed $10,000 on Form 8300 until the United States Treasury Department provides further regulations. internal Revenue Service Notice 2024-4 clarified that businesses can delay reporting until further regulations are issued. Continue reading: https://ow.ly/8vQ550SWZcC Brought to you by the #EAJournal #EnrolledAgent #EnrolledAgentNews #NAEA #TaxPros #Crypto #DigitalAssets
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This graphic is a theoretical representation of the #Bitcoin Technology Stack that I created a few years ago. People often miss the fact that Bitcoin isn't just an asset, it's also an ever-evolving protocol that developers worldwide will continue to innovate on to bring new, exciting applications and functionality to the system. The key takeaway is that the Bitcoin base layer provides a solid foundation where layers of innovation can be built on top of it due to its security and decentralization. Users and developers can be assured that the base layer can't be tampered with or manipulated. Ultimately, this means that every application and protocol that gets built on top of Bitcoin benefits from the security and decentralization of the base layer below it. This is how we will build a new, resilient monetary system that can stand the test of time.
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