The U.S. The Senate is set to vote on a resolution that could reverse a controversial IRS rule affecting decentralized finance (DeFi). This rule, which the crypto industry has criticized, requires certain tax disclosures for crypto brokers. If the Senate approves the measure, it could significantly impact the future of DeFi projects in the U.S. […]
CFPB
Crypto Advocates Urge CFPB To Reconsider Proposed Rule On Digital Payments
A group of U.S. lawmakers have expressed their concerns over a proposed rule by the Consumer Financial Protection Bureau (CFPB) that could affect the crypto space. In a letter dated Jan. 30, Representatives Patrick McHenry, Mike Flood, and French Hill asked CFPB Director Rohit Chopra to extend the comment period for the rule by 60 […]
California Governor Approves ‘Digital Financial Assets Law’ For Crypto Regulations
In a significant development for the crypto world, California Governor Gavin Newsom has given the green light to a cryptocurrency bill that ushers in more stringent regulations for businesses involved in crypto operations. This legislative move, titled the ‘Digital Financial Assets Law,’ has a clear message: crypto in the Golden State is about to transform. […]
Crypto Fraud Skyrockets: 150% Rise in Hacks Prompts CFPB Action
In a significant development for the cryptocurrency industry, the Consumer Financial Protection Bureau (CFPB), the top U.S. agency for consumer financial protection, is exploring the application of the Electronic Fund Transfer Act (EFTA) to cryptocurrencies. This move aims to safeguard consumers from the rising tide of fraudulent crypto transfers. The EFTA, enacted in 1978, was […]