Cryptocurrencies

2024-06-05 21:30:38
by Tom Ramstack
Congress Looks Beyond Cryptocurrency Risks to Consider Economic Benefits

WASHINGTON — Financial experts told a congressional subcommittee Wednesday that cryptocurrency is ready to be incorporated into traditional markets and... Read More

WASHINGTON — Financial experts told a congressional subcommittee Wednesday that cryptocurrency is ready to be incorporated into traditional markets and industries through pending federal legislation. If the proposals to expand use of cryptocurrency are approved by Congress, it could become... Read More

2023-03-28 13:53:30
by Kate Michael
Senators Consider Potential Crypto Regulation

WASHINGTON — There may be a bipartisan cryptocurrency regulation coming. But of course, there are partisan differences over how to... Read More

WASHINGTON — There may be a bipartisan cryptocurrency regulation coming. But of course, there are partisan differences over how to protect consumers while maintaining an industry-friendly environment.  Cryptocurrencies, and the blockchain foundation these currencies run on, have experienced greater volatility... Read More

2022-12-01 22:36:13
by Tom Ramstack
Senate Says FTX Cryptocurrency Collapse Shows Need for Government Regulation

WASHINGTON — A Senate committee on Thursday nearly eliminated uncertainties about whether the government will regulate the cryptocurrency industry soon... Read More

WASHINGTON — A Senate committee on Thursday nearly eliminated uncertainties about whether the government will regulate the cryptocurrency industry soon as lawmakers reviewed the collapse of digital financial firm FTX. FTX’s cryptocurrency exchange held assets of more than 1 million... Read More

2022-09-16 17:26:47
by Madeline Hughes
Biden Administration Outlines Vision of Crypto Future

WASHINGTON — The Biden administration released a slew of reports Friday detailing how the government should regulate cryptocurrencies, and even... Read More

WASHINGTON — The Biden administration released a slew of reports Friday detailing how the government should regulate cryptocurrencies, and even create a central bank digital currency. The reports state regulators should continue to use their powers to aggressively pursue enforcement... Read More

2022-09-06 20:04:43
by Tom Ramstack
DC Attorney General Sues Billionaire for Alleged Income Tax Evasion

WASHINGTON — Washington, D.C., is accusing billionaire corporate mogul Michael Saylor of evading $25 million in local income taxes in... Read More

WASHINGTON — Washington, D.C., is accusing billionaire corporate mogul Michael Saylor of evading $25 million in local income taxes in a whistleblower lawsuit filed last week. The District of Columbia’s attorney general says Saylor fraudulently claimed he lived in Florida... Read More

2022-08-24 21:35:26
by Madeline Hughes
Crypto Experts: Regulators Need to Be Involved

WASHINGTON — As Congress contemplates sweeping oversight legislation to cryptocurrency, industry leaders are welcoming those potential guardrails. It’s important to... Read More

WASHINGTON — As Congress contemplates sweeping oversight legislation to cryptocurrency, industry leaders are welcoming those potential guardrails. It’s important to “strike the right balance of acting quickly in the United States to establish this clarity and also the appropriate guardrails... Read More

2022-08-19 19:37:43
by Madeline Hughes
House Questions Crypto Mining’s Environmental Impact

WASHINGTON — Four of the largest crypto mining companies are facing questions about their environmental impacts from the House Committee... Read More

WASHINGTON — Four of the largest crypto mining companies are facing questions about their environmental impacts from the House Committee on Energy and Commerce. “The energy consumption and hardware required to support [proof of work–based] cryptocurrencies may, in some instances,... Read More

2022-08-02 18:34:28
by Madeline Hughes
SEC Charges 11 in Crypto Ponzi Scheme

WASHINGTON — Eleven people were charged in a $300 million cryptocurrency Ponzi scheme targeting Americans and people abroad Monday by... Read More

WASHINGTON — Eleven people were charged in a $300 million cryptocurrency Ponzi scheme targeting Americans and people abroad Monday by the Securities and Exchange Commission. They were charged of fraud for their blockchain networking company, Forsage, promoting itself as the... Read More

2022-07-26 20:52:41
by Madeline Hughes
Titanium Blockchain CEO Pleads Guilty to Fraud in $21M Scheme

LOS ANGELES, Calif. — A cryptocurrency CEO pleaded guilty to fraud Friday, according to a statement from the Department of... Read More

LOS ANGELES, Calif. — A cryptocurrency CEO pleaded guilty to fraud Friday, according to a statement from the Department of Justice. Michael Alan Stollery, 54, of Reseda, California, was the CEO of Titanium Blockchain Infrastructure Services Inc. TBIS raised $21... Read More

2022-07-08 16:55:31
by Madeline Hughes
Ethics Office: Federal Employees With Crypto Shouldn’t Work on Rules

WASHINGTON — Federal employees with crypto-assets shouldn’t be working on new rules and regulations that could influence the value of... Read More

WASHINGTON — Federal employees with crypto-assets shouldn’t be working on new rules and regulations that could influence the value of those assets, according to a new legal advisory from the Office of Government Ethics. This comes as multiple agencies across... Read More

2022-07-08 14:25:04
by Madeline Hughes
California Amps Up Crypto Protections

SACRAMENTO, Calif. — Regulating cryptocurrencies has been top of mind for many lawmakers and regulators across the country as prices... Read More

SACRAMENTO, Calif. — Regulating cryptocurrencies has been top of mind for many lawmakers and regulators across the country as prices fluctuate and scams become even more common. In California, the Department of Financial Protection and Innovation has been cracking down... Read More

2022-06-23 12:11:11
by Madeline Hughes
Installing the Guardrails for Cryptocurrency, the New Financial Frontier

WASHINGTON — Charlene Fadirepo, who has worked in banking for about two decades, is one of the millions of Americans... Read More

WASHINGTON — Charlene Fadirepo, who has worked in banking for about two decades, is one of the millions of Americans who started investing in cryptocurrencies when stuck at home at the start of the pandemic. “As a traditional banker, once... Read More

Amid Crypto Turmoil, Senators Propose Sweeping Oversight

WASHINGTON (AP) — Wide-ranging bipartisan legislation unveiled Tuesday would regulate cryptocurrencies and other digital assets following a series of high-profile busts and... Read More

WASHINGTON (AP) — Wide-ranging bipartisan legislation unveiled Tuesday would regulate cryptocurrencies and other digital assets following a series of high-profile busts and failures. It’s unclear, though, whether the bill proposed by Sens. Kirsten Gillibrand, D-N.Y., and Cynthia Lummis, R-Wyo., can clear Congress,... Read More

Crypto Comes to Washington. Will the Millions Buy Influence?

WASHINGTON (AP) — Erin Houchin braced for the worst when a mysterious, well-financed group started buying television ads last month... Read More

WASHINGTON (AP) — Erin Houchin braced for the worst when a mysterious, well-financed group started buying television ads last month in her highly competitive southern Indiana congressional race. Houchin assumed she would face a negative blitz, like the one that... Read More

Bitcoin’s New Puzzle: How to Ditch Fossil Fuels and Go Green

HELENA, Mont. (AP) — For the past year a company that “mines” cryptocurrency had what seemed the ideal location for... Read More

HELENA, Mont. (AP) — For the past year a company that “mines” cryptocurrency had what seemed the ideal location for its thousands of power-thirsty computers working around the clock to verify bitcoin transactions: the grounds of a coal-fired power plant... Read More

Wall Street Eyes Rebound, European Stocks Surge on Diplomacy

NEW YORK (AP) — Wall Street futures rebounded Wednesday and European shares rose sharply as investors eyed diplomatic efforts to... Read More

NEW YORK (AP) — Wall Street futures rebounded Wednesday and European shares rose sharply as investors eyed diplomatic efforts to end Russia's attack on Ukraine, while Asian markets sank after Chinese inflation accelerated. Futures for Wall Street’s S&P 500 index... Read More

AP Sources: Biden to Issue Executive Order on Cryptocurrency

WASHINGTON (AP) — President Joe Biden is expected to sign an executive order on cryptocurrency this week that will mark... Read More

WASHINGTON (AP) — President Joe Biden is expected to sign an executive order on cryptocurrency this week that will mark the first step toward regulating how digital currency is traded. The move comes as administration officials have raised concerns in... Read More

Justice Dept. Announces $3.6B Crypto Seizure, Two Arrests

WASHINGTON (AP) — The Justice Department announced Tuesday its largest-ever financial seizure — more than $3.5 billion — and the... Read More

WASHINGTON (AP) — The Justice Department announced Tuesday its largest-ever financial seizure — more than $3.5 billion — and the arrests of a New York couple accused of conspiring to launder billions of dollars in cryptocurrency stolen from the 2016... Read More

2022-02-01 21:18:53
by Tom Ramstack
New York Lawsuit to Decide Regulation of Cryptocurrency

NEW YORK — A key lawsuit pending in New York is moving toward a judgment expected to influence the extent... Read More

NEW YORK — A key lawsuit pending in New York is moving toward a judgment expected to influence the extent the booming cryptocurrency market can remain largely unregulated. The Securities and Exchange Commission argues that Bitcoin, Ethereum and other cryptocurrencies... Read More

2022-01-13 00:39:49
by Reece Nations
Former Twitter CEO Jack Dorsey Launches Bitcoin Legal Defense Fund

SAN FRANCISCO — Former Twitter CEO Jack Dorsey on Wednesday announced the creation of a nonprofit legal defense fund geared... Read More

SAN FRANCISCO — Former Twitter CEO Jack Dorsey on Wednesday announced the creation of a nonprofit legal defense fund geared towards defending Bitcoin developers from litigation. Dorsey announced the fund in a mailing list for Bitcoin developers and said its... Read More

2021-12-14 20:47:38
by Tom Ramstack
Senate Examines Stablecoins as Replacement for Bitcoins

WASHINGTON — A Senate panel discussed strategies Tuesday for the U.S. government to participate in the growth of cryptocurrencies but... Read More

WASHINGTON — A Senate panel discussed strategies Tuesday for the U.S. government to participate in the growth of cryptocurrencies but to avoid economic calamities. Financial advisors told the Senate Banking, Housing and Urban Affairs Committee they face a daunting task.... Read More

2021-11-24 18:28:47
by Reece Nations
Bitcoin Miners Flocking to Texas for Cheap Energy May Bring Grid Problems

AUSTIN, Texas — Texas’ alluring low energy costs are drawing bitcoin miners from out of state despite the vulnerable condition... Read More

AUSTIN, Texas — Texas’ alluring low energy costs are drawing bitcoin miners from out of state despite the vulnerable condition of the electrical grid. Cryptocurrency mining is an energy-intensive process in which new cryptocurrencies are entered into circulation by using... Read More

2021-10-13 13:17:18
by Reece Nations
Cryptocurrency Enforcement Team Announced as White House Mulls Oversight

WASHINGTON -- The Biden administration is taking steps to address the growing threat of cybercrime while considering whether to issue... Read More

WASHINGTON -- The Biden administration is taking steps to address the growing threat of cybercrime while considering whether to issue an executive order on issues surrounding the illicit use of cryptocurrency. A White House National Security Council spokesperson said in... Read More

China Declares All Cryptocurrency Transactions Illegal

BEIJING (AP) — China's central bank on Friday declared all transactions involving Bitcoin and other virtual currencies illegal, stepping up... Read More

BEIJING (AP) — China's central bank on Friday declared all transactions involving Bitcoin and other virtual currencies illegal, stepping up a campaign to block use of unofficial digital money. Chinese banks were banned from handling cryptocurrencies in 2013, but the... Read More

2021-07-29 20:28:16
by Victoria Turner
Centralized Digital Bank Currencies: The Future of Digital Money Says IMF Chief

After working for over a decade on modernizing its payment system, the Bahamas is now home to the world’s first... Read More

After working for over a decade on modernizing its payment system, the Bahamas is now home to the world’s first central bank digital currency called the “sand dollar.” For this archipelago of 700 Caribbean islands, moving to a mobile payment... Read More

2021-05-12 12:48:34
by Kate Michael
Could the U.S. Be Close to Creating a Digital Dollar?

WASHINGTON — While cryptocurrencies have dominated the news, another type of digital currency is being considered by the central banks... Read More

WASHINGTON — While cryptocurrencies have dominated the news, another type of digital currency is being considered by the central banks of dozens of countries including the United States. Starkly different from crypto, these electronic currencies would have the full backing... Read More

Clayton’s SEC Sets Up Cryptocurrency Firms to Fail

Cryptocurrency may still seem like a strange, foreign concept in many American households – but the technology has reached the... Read More

Cryptocurrency may still seem like a strange, foreign concept in many American households – but the technology has reached the point where it is entering the everyday economy. The price of Bitcoin has hit a record-high, G7 officials are pushing... Read More

2020-12-10 15:46:16
by Sean Trambley
Rep. Emmer Urges SEC to Provide Clarity for Digital Securities

WASHINGTON – This week, Rep. Tom Emmer, D-Minn., sent a letter to the Securities and Exchange Commission urging them to... Read More

WASHINGTON – This week, Rep. Tom Emmer, D-Minn., sent a letter to the Securities and Exchange Commission urging them to address the issue of broker-dealer custody of digital securities. Rep. Emmer's letter urges the SEC to take three important actions:... Read More

House Panel Asks Whether Legislation Can Keep Cash as King

WASHINGTON — At some uncertain point in the future, printing cash may be a waste of money. As Americans increasingly... Read More

WASHINGTON — At some uncertain point in the future, printing cash may be a waste of money. As Americans increasingly rely on credit cards, online transfers, mobile apps and cryptocurrencies to complete transactions, a House panel debated Thursday the promise... Read More

Straight From The Well
scroll top