Coinbase has deepened its connection to former U.S. President Donald Trump by appointing his 2024 co-campaign manager, Chris LaCivita, to its Global Advisory Council. The cryptocurrency exchange announced on January 29 that LaCivita would join the council alongside former U.S. Senator Kyrsten Sinema, former New York Fed President Bill Dudley, and former Colombian Ambassador to...
Trump’s First Term: Crypto Skepticism and Regulatory Actions Donald Trump’s first term as U.S. president, spanning from 2017 to 2021, marked a contentious chapter for cryptocurrency. While Bitcoin’s value skyrocketed from around $700 at his election to over $36,000 by the end of his tenure, the administration’s stance on digital assets was largely critical, characterized...
Turkey has unveiled new cryptocurrency regulations aimed at combating money laundering and terrorism financing. Announced during the final week of 2024, the regulations reflect influences from major global frameworks, including Europe’s upcoming Markets in Crypto-Assets (MiCA) bill. Under the new rules, cryptocurrency service providers in Turkey must collect identifying information for transactions exceeding 15,000 Turkish...
The Russian government has approved a comprehensive set of restrictions on cryptocurrency mining, with blanket bans in 10 regions and seasonal limitations in three Siberian territories. The measures, announced on December 24 by the local news agency TASS, will take effect on January 1, 2025, and extend until March 15, 2031. The blanket bans will...
Botswana’s central bank has assessed the country’s cryptocurrency markets as underdeveloped, posing only “minimal” risks to financial stability at present. However, in its Financial Stability Report, the Bank of Botswana emphasized the need for proactive regulations to mitigate potential future risks associated with digital assets. The report highlighted that as the cryptocurrency market becomes increasingly...
The liquidators of the defunct cryptocurrency exchange Cryptopia have started distributing funds to users affected by a hack that occurred nearly six years ago. Grant Thornton, the firm overseeing Cryptopia’s liquidation, announced on December 20 that more than 10,000 verified account holders have begun receiving payouts. Over the past two days, verified holders of Bitcoin...
Brazil’s central bank, Banco Central do Brasil (BCB), has proposed a ban on transferring stablecoins to self-custodial wallets, coinciding with the Brazilian real hitting all-time lows against the U.S. dollar. On Nov. 29, the BCB issued a proposal that would prohibit transfers of stablecoins like Tether’s USDt (USDT) to wallets like MetaMask, which are self-custodial...
The government of Hong Kong has announced a plan to provide fresh tax exemptions aimed at attracting private equity and hedge funds, covering a broader scope of assets, including private credit, overseas property, and carbon credits. The proposed tax exemptions are part of an effort to position Hong Kong as a more competitive global financial...
Cryptocurrency ownership among investors in the United Kingdom is on the rise, prompting increasing regulatory attention from the country’s top financial authority. According to a Nov. 26 announcement by the Financial Conduct Authority (FCA), over 12% of UK adults now hold cryptocurrency, with an average value of up to 1,842 British pounds ($2,318). This marks...
Authorities in Paju, South Korea, are ramping up efforts to collect unpaid taxes by seizing the cryptocurrency holdings of residents with outstanding debts. On Nov. 18, local news outlet Yonhap reported that the Paju city administration issued notices to 17 residents with a combined tax debt of 124 million Korean won, approximately $88,600. Officials have...
