Block, if it's allowed to keep that name, could soon find itself competing in court over the name "Bitcoin," which forms the most public and best-known aspect of its blockchain-related businesses.
The tax agency posted its 1040 form last year to ask about virtual assets; however, a query led to confusion among U.S. citizens who wondered if buying and holding counted as a digital currency transaction.
A pair of disgruntled users has filed a fraud claim in the Southern District of New York against Tether Holdings Limited and a handful of its related business entities, including iFinex and exchange Bitfinex.
Brannen Mehaffey processed about $4 million in digital currencies without registering with the U.S. authorities, some of which were tied to criminal proceeds, officials said.
When the hearing came to an end, it was clear that lawmakers have a positive outlook on the digital asset industry, although they have a few concerns about the sector that they are looking to fix via regulation.
The U.S. Securities and Exchange Commission has rejected Cboe BZX’s application for a rule change, and also cited security concerns related to the BTC blockchain and other trading platforms.
Sam Bankman-Fried, the CEO and Founder of FTX exchange, will testify in front of the House Financial Services Committee on December 8.
The U.S. securities regulator has updated its PAUSE list which includes firms that’ve been misleading investors with false statements, and digital currency firms feature significantly.
Jeremy Spence, 25, posed as a successful trader, lured investors and made off with over $5 million, according to the U.S. Department of Justice.
Ivar Auzins allegedly defrauded hundreds of investors and took off with at least $7 million through two unregistered digital asset securities offerings, according to the U.S. securities regulator.
The Bitcoin trial of the century—Kleiman v Wright—continues with no verdict in sight. Judge Beth Bloom issued an Allen charge after the jury told the court they were struggling to agree on a decision.
Sec. Yellen agrees with the FinCEN statement that entities providing ancillary services like manufacturers, developers, and miners shouldn't be subjected to Money Service Business registration.
