Acting Comptroller Brian Brooks will step down today, according to a statement from the Office of the Comptroller of the Currency (OCC). Current Chief Operating Officer – Blake Paulson, will take his place as an acting controller. Brooks took over as acting comptroller of the OCC in May 2020 and...
Visa-backed Anchorage announced on Wednesday that it has become the first-ever cryptocurrency firm to receive a federal charter from the Office of the Comptroller of the Currency. In a statement, the OCC said it has decided to approve after a “rigorous” review process. As part of the agreement, Anchorage will...
UK financial services regulator – FCA has gotten tougher on crypto recently – banning the sale of crypto derivatives to retail investors and warns firms operating in the UK without registration are committing a criminal offense. Now FCA on Monday warns consumers of the risks of the investment in crypto...
The U.S. Treasury Department’s financial crimes unit – FinCEN – is seeking to address gaps in cryptocurrency transaction reporting by requiring financial institutions and crypto exchanges to report the movement of crypto funds above certain amounts. Under the new proposed rule from the Financial Crimes Enforcement Network (FinCEN), financial institutions...
One of the main subjects that concern crypto users is digital assets (or cryptocurrency) regulation. The digital asset has been in much of the attention in 2020 by the federal government and regulators around the world. In a recent G7 meeting, the Finance Ministries and Central Banks strongly support the...
One of the main subjects that concern both crypto miners and traders is cryptocurrency taxation. One sector that creates a lot of outrage among taxpayers is the presence of value-added tax, VAT, and also tax levies on goods and services. One of the latest countries that have made crypto-fiat transactions...
KyberSwap, one of the largest non-custodial cryptocurrency exchange is moving out of Malta to the British Virgin Islands. According to an email sent by KyberSwap to its registered users on Thursday, it is making this move in response to the Fifth Anti-Money Laundering Directive (5AMLD), which went into effect on...
In an interview with the News outlet Cheddar, the Commodity Futures Trading Commission (CFTC) Chairman Heath Tarbert has said that it is not clear whether XRP is a security or a commodity. The CFTC chairman is working closely with the SEC to really think about “which falls in what box”,...
Reserve Bank of South Africa is planning to introduce a new rule regarding the use of crypto, in a bid to stop their use to evade currency controls. The rules are expected to be put in place by Q1 2020. Local banks such as FNB have already started clamping down...
A new business area opened up for German banks. Starting in 2020, German banks can sell and have custody of Bitcoin and other crypto-assets. Earlier German banks were not allowed to offer their customers access to crypto assets. Now after the German federal council clearance, banks can provide their customers...
