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Policy
Key IRS Crypto Officials Depart Agency Following Acceptance of Voluntary Departure Offers
The Internal Revenue Service has lost two crucial directors, Seth Wilks and Raj Mukherjee, who were overseeing crypto-related projects, after they opted for voluntary resignation packages. Although they are still technically employed by the IRS for the next few months, they have been placed on paid administrative leave as of Friday. This development comes after the Department of Government Effici…
May 2, 2025, 8:10 p.m.
Policy
UK Financial Regulator Invites Public Feedback on Cryptocurrency Oversight
The UK's Financial Conduct Authority has launched a public consultation on its proposed cryptocurrency regulatory framework, focusing on areas such as intermediaries, staking, lending, borrowing, and decentralised finance. This move follows the Treasury's recent draft legislation, which aims to bring specific crypto activities under the FCA's regulatory umbrella. According to the FCA, the goal is…
May 2, 2025, 9:23 a.m.
Policy
US Senate Takes Steps Towards Passing Stablecoin Legislation
The US Senate is poised to vote on a landmark bill that would establish regulatory guidelines for stablecoin issuers in the United States, marking a significant milestone in the country's cryptocurrency legislation. Senate Majority Leader John Thune, a Republican from South Dakota, has set the wheels in motion to expedite the passage of the Guiding and Establishing National Innovation for US Stab…
May 1, 2025, 11:32 p.m.
Policy
US Government Takes Steps to Isolate Cambodia's Huione Group from Global Finance
The US Treasury Department has moved to disconnect the Cambodia-based Huione Group from the US financial system, citing its alleged support for cybercrime and provision of services to North Korean hackers and other criminal organisations. The operation, which is based on the Telegram platform, has been identified as a key hub for laundering the proceeds of cybercrimes and facilitating so-called…
May 1, 2025, 10:26 p.m.
Policy
Mango Markets Exploiter Receives Over 4-Year Prison Sentence for Child Pornography Offenses; Potential Fraud Retrial Looms
In a Manhattan court, Avraham "Avi" Eisenberg, the individual responsible for exploiting Mango Markets and stealing $110 million in 2022, was sentenced to 52 months in prison on Thursday. This sentence was handed down due to his guilty plea for possessing child sexual exploitation material, rather than his conviction for the cryptocurrency theft. Eisenberg had previously been found guilty by a Ne…
May 1, 2025, 8:53 p.m.
Policy
US Lawmaker Proposes Installation of Crypto ATMs in Government Buildings
A Republican congressman from Texas has urged the federal government to consider setting up cryptocurrency ATMs in government buildings, as a means to promote the country's stance on digital assets, in line with the vision outlined by former President Donald Trump. In a letter to the General Services Administration, Representative Lance Gooden proposed the installation of these automated teller m…
May 1, 2025, 4:10 p.m.
Policy
NexusOne Launches to Impact US Crypto and AI Regulations, Tied to Trump
A newly established government relations firm in Washington, D.C., comprising former administration officials, has begun operating to assist crypto and artificial intelligence companies in influencing US policy. NexusOne Consulting is headed by Jeff Ifrah, a defense attorney; Jim Trusty, a former government lawyer who represented the Trump administration; and Ross Branson, a veteran of the Commer…
May 1, 2025, 2:29 p.m.
Policy
UK's Crypto Ambitions Hindered by Delayed Regulatory Framework
Industry leaders have expressed concerns that the UK's sluggish pace in establishing a clear regulatory framework for the crypto industry may hinder its goal of becoming a global hub. Despite its aspirations, announced in 2022, the country has only recently begun soliciting feedback on draft legislation. In contrast, the European Union has already implemented the Markets in Crypto Assets (MiCA) r…
May 1, 2025, 1:45 p.m.
Policy
Kuwait Launches Crackdown on Unauthorized Cryptocurrency Mining Operations
In a bid to tackle the issue of unauthorized cryptocurrency mining, Kuwait has initiated a nationwide crackdown, with more than 60 individuals currently under investigation. This move is part of a broader effort to eliminate unlicensed mining operations and protect the country's power grid. According to the Public Prosecution, the ongoing investigations may lead to the identification of additio…
May 1, 2025, 12:20 p.m.
Policy
Coinbase Intervenes in Supreme Court Case to Safeguard User Data from IRS Access
Coinbase has filed a brief with the US Supreme Court in a case dating back to 2016, in which the Internal Revenue Service sought to obtain data on hundreds of thousands of its customers, arguing that the court should 'safeguard the privacy interests of Americans in digitally stored information held by third-party service providers.' The IRS had requested financial records under the premise that i…
April 30, 2025, 3 p.m.