Category: Legal
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US SEC charges and arrests John McAfee after $23 million in illegal Bitcoin, ICO gains
The US Securities and Exchange Commission (SEC) filed a suit against cybersecurity entrepreneur John McAfee for his alleged role in manipulating cryptocurrency prices using his social media influence. “From at least November 2017 through February 2018, McAfee leveraged his fame to make more than $23.1 million U.S. Dollars (‘USD’) in undisclosed compensation by recommending at…
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Bitcoin exchanges might soon share money laundering data in the UK
In the latest proposal concerning Bitcoin and crypto businesses, the UK’s top financial regulator, the Financial Conduct Authority, said all firms would be compelled to share reports on potential money laundering. Bitcoin under the scanner According to a document on August 24, the FCA plans to legally oblige UK-based crypto firms to share any suspicious…
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Trump vs Biden, who’s better for Bitcoin and crypto?
Bitcoin’s regulatory scheme in the US will soon come into focus in the Presidential elections later this year. The two candidates — President Donald Trump and Joe Biden — go head-to-head in November, and while cryptocurrencies do not feature as part of their campaign topics; their stances on the technology will pave the path for…
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U.S. Congress appeals for zero tax on crypto staking rewards
A group of Congress members in the US have sent a letter to the Internal Revenue Service (IRS) asking for zero tax on staking rewards, a Coin Center letter revealed Tuesday. However, a tax must be levied when such rewards are sold, instead of acquired, said the Congressmen. Coin Center, a non-profit, Washington DC-based advocacy…