The U.S. Court of Appeals, Eleventh Circuit, has dismissed an appeal filed by crypto policy organization Coin Center challenging the U.S. Treasury Department. The case focused on sanctions against Tornado Cash, a popular Ethereum-based coin mixing service, imposed in 2022 by the Office of Foreign Assets Control (OFAC) of the Treasury. According to court records, […]
Coin Center
Crypto Alliance Demands Bold Action: Add BRCA to Clarity Bill Now
A coalition of eight crypto policy groups has asked Congress to include the Blockchain Regulatory Certainty Act (BRCA) in the Digital Asset Market Structure Bill. The groups believe that the amendment will provide clear regulations to developers and infrastructure providers in the blockchain sector. They believe this will secure innovation and guarantee that non-custodial actors in […]
U.S. Crypto Tax Reporting Shift: New Rules Spark Controversy and Call for Clarity in 2024
New Year’s Day marked the implementation of stringent cryptocurrency tax reporting obligations, as announced by the crypto advocacy group Coin Center on January 2. In a significant development, the U.S. infrastructure bill signed by President Joe Biden has activated crypto reporting requirements, impacting crypto asset transactions exceeding $10,000. Crypto Tax Changes: Stricter Rules in 2024 […]
Crypto Think Tank Moves Court Challenging US Treasury’s Financial Surveillance
Washington-based crypto think tank Coin Center called a financial provision enshrined in the US treasury’s bill unconstitutional and has filed a lawsuit in a federal district court. The controversial rule required individuals and businesses who receive $10,000 or more in crypto to provide personal details of themselves as well as the contributors’ to the government. […]