Category: Law of the Chain
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UK to ban public sector from making ransomware payments
The UK plans to ban public sector and critical infrastructure from paying ransomware demands, requiring reporting of attacks. The proposal follows public consultation with mixed views on penalties.
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New IRS Crypto Form Could Trigger ‘Phantom Gains’ and Unwanted Audits, Expert Warns – Taxes Bitcoin News
The IRS’s new Form 1099-DA may cause audits for crypto users due to incomplete cost basis data, leading to ‘phantom gains’ and unfair tax liabilities, warns an expert.
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‘Bizarre Situation’: SEC Halts Conversion for Another ETF Holding Bitcoin, Ethereum, and XRP – Decrypt
The SEC halted Bitwise’s crypto index ETF conversion after initial approval, mirroring Grayscale’s recent setback. This creates uncertainty for multi-asset crypto ETFs as procedural reviews delay listings.
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Ethereum Off The Hook: SEC Chair Rules ETH Is Not A Security
SEC Chair Paul Atkins states Ethereum is not a security, treating it like Bitcoin. Institutional interest in ETH grows, with firms adding it to balance sheets. Regulatory clarity remains pending on staking rules.
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US Senators Unveil Draft Bill to Overhaul Crypto Regulation Framework – Regulation Bitcoin News
US senators propose a draft bill to reform crypto regulations, clarifying asset classifications and limiting SEC oversight to foster compliant innovation in the digital asset market.
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Ripple Joins IMF Fintech Advisory Group, Bolsters Global Payment Influence News ETHNews
Ripple joins IMF’s Fintech Advisory Group, advising on global payment policies. It collaborates with central banks like the Bank of England and Saudi Arabian Monetary Authority to enhance cross-border transfers and digital asset integration.
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JPMorgan Chase’s Plans for Charging Fintechs for Customer Account Data Raising Concerns With at Least One CFPB Official: Report – The Daily Hodl
A CFPB official is concerned about JPMorgan Chase’s plan to charge fintechs for customer account data, potentially stifling competition. Critics argue the move could harm the fintech sector and consumers.
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Treasury Secretary Scott Bessent Calls for Full Fed Audit – News Bitcoin News
Treasury Secretary Scott Bessent advocates for a full audit of the Federal Reserve, citing concerns over its operations and lack of control.
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Russian Policymaker: State Should Seize Illegal Miners’ Crypto
Russian policymaker Yevgeny Masharov proposes seizing crypto from illegal Bitcoin miners to deter unregistered mining activities and ease energy grid strain in regions like Irkutsk Oblast.
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Bitwise Crypto Index Fund Holding BTC, ETH, XRP To Convert Into ETF
The SEC approved Bitwise’s crypto index fund conversion to an ETF, but a regulatory stay delays its launch. The ETF tracks Bitcoin, Ethereum, XRP, and other assets, with Coinbase and BNY Mellon managing holdings.
