Cryptocurrency news - Politics
Argentina's Customs Office Seizes $21M in Crypto Mining Equipment
Argentina’s customs office seized 2,233 crypto mining rigs that it claims were improperly invoiced at about $5 million more than their actual value, reported newspaper Ámbito Financiero. According to a complaint filed by the agency on Thursday, the machines were val...
US Banking Watchdog Says Crypto Turmoil Reinforces Cautious Approach
Michael Hsu, acting chief of the Office of the Comptroller of the Currency (OCC), said the recent fireworks in the crypto industry have further cemented his resistance to allowing lenders unfettered exposure to the digital assets markets. Hsu is one of the top U.S. banking regul...
Singapore Will Crack Down on Bad Crypto Behavior
Singapore's central bank will be "brutal and unrelentingly hard" on bad behavior in the crypto industry, the chief fintech officer at the Monetary Authority of Singapore told the Financial Times. In an interview with the newspaper, Sopnendu Mohanty said Singapore has enforced...
Iranian government to cut power supply for the country's legal crypto mining rigs
According to local news outlet Arz Digital, the day prior, Rajabi Mashhadi, a spokesperson for Iran's Ministry of Energy, said that the entity would be cutting the power supply to all of the country's licensed crypto mining firms by the beginning of July. Citing an antic...
US Treasury Secretary Talks Crypto With Bank Chiefs
U.S. Treasury Secretary Janet Yellen is meeting with the CEOs of Wall Street banks Thursday to discuss the global economy and U.S. inflation, while also raising “the need for responsible innovation in digital assets,” according to the Treasury Department. That discus...
Brazilian proposal would make crypto payments legal and protect private keys
A proposed addition to an existing Brazilian law would grant Brazilians the right to use cryptocurrency as a means of payment while protecting their private keys from being taken by the courts. Federal Deputy Paulo Martins issued the proposal to the country’s legis...
Coin Center Sues US Treasury Over 'Unconstitutional' Tax Reporting Rule
AUSTIN, Texas — Crypto think tank Coin Center filed a lawsuit against the U.S. Treasury Department and Internal Revenue Service on Friday, claiming a crypto tax reporting requirement enshrined in last year's infrastructure law is "unconstitutional." The requirement, which...
US Justice Department Urges More Coordination to Combat Crypto Crime
The U.S. should share more information about crimes tied to cryptocurrency and help build up its overseas partnerships to help combat them, the U.S. Department of Justice said in a report released Tuesday, one of the first responses to President Joe Biden’s executive order...
New Japanese law may allow seizure of stolen crypto
Japan’s Justice Ministry is reportedly considering a revision of an asset seizure law relating to organized crime to include a stipulation that crypto can be commandeered in such instances. If the reports are found to be true, a potential revision of the Act on Punishment o...
Crypto Banking Rules Now Due This Year From Basel Committee
Norms governing banks' exposure to crypto assets will be completed this year, the Basel Committee on Banking Supervision said, taking notice of recent market struggles as a reason to push ahead with the controversial plans. The global banking standard-setter last year proposed r...