IRS Shares New Crypto Tax Form, Invites Industry Input
The U.S. Internal Revenue Service (IRS) has released an updated draft version of the tax form crypto brokers and investors will use to report proceeds from certain transactions, the 1099-DA.
Policy
Coinbase Takes Aim at CFTC’s Definition of ‘Gaming’ in Proposed Prediction Market Rules
Coinbase argues the definition is vague, and urges the CFTC to make determinations on a contract-by-contract basis rather than broad categorization
Crypto-Friendly Bank Ordered by Fed to Limit Risks From Digital Asset Clients
Customers Bank, which has done business with several of the most prominent crypto firms, has been called out by the U.S. Federal Reserve for inadequately policing illicit activity, particularly with digital asset clients.
Do Kwon’s Extradition from Montenegro Postponed Yet Again
Do Kwon’s extradition from Montenegro has been delayed yet again.
Japan’s Top Regulator Says Crypto-ETF Approvals Need ‘Cautious Consideration:’ Report
The boss of Japan’s Financial Services Agency (FSA) has said “cautious consideration” needs to be given to the decision of approving crypto-related exchange-traded funds.
FTX, Alameda Ordered to Pay $12.7B to Creditors by U.S. Judge
United States District Judge Peter Castel passed the approval on August 7, a filing shows. It did not seek a civil monetary penalty.
Did Sanctioning Tornado Cash Work?
Sanctions are an effort to throw the weight of the U.S. dollar around to tamp down on activities the U.S. government thinks may be harmful – like money laundering to fund terror groups or rogue nations. The New York Federal Reserve thinks they had a real effect in crypto.
Brazil’s Securities and Exchange Commission Approves Solana-Based ETF
The Brazilian Securities and Exchange Commission (CVM) has approved a Solana-based exchange-traded fund (ETF), the agency disclosed in its central database.
Judge Fines Ripple $125M, Bans Future Securities Law Violations in Long-Running SEC Case
A federal judge ordered Ripple to pay $125 million in civil penalties and imposed an injunction against future securities law violations on Wednesday.
Brazilian Civil Police Dismantles Crypto Laundering Scheme Employed by Drug Gang
The Civil Police of São Paulo, Brazil, dismantled a money laundering scheme managed by the drug gang First Capital Command (PCC) that operated a company operating as a crypto exchange, the police said on X (formerly Twitter) on Tuesday.