2024-11-22
Happy to see the @CFPB remove digital currencies from the scope of its larger participant payment app rule. As we wrote in our comment letter last year, the original scope was so broad as to risk including core crypto software developers and trampling upon the First Amendment [image]
Bloomberg
The CFPB will supervise tech companies with digital wallets, like Apple Pay, Google Pay, and Venmo, with 50M+ annual transactions, treating them more like banks
the Biden/Warren crew just enacted this to stop @X from becoming a payments juggernaut. Wow, a whole new 259-page rule aimed at X...yet more lawfare against you.👊 (Congress can & p...
2024-07-01
A saving grace amongst all the crypto regulatory news today : at least we won't have to write a response to the final rulemaking on the IRS broker rule and non-custodial entities over the 4th of July week: [image]
Wall Street Journal
The US finalizes rules requiring custodial crypto platforms to report user transaction info to the IRS; DeFi platforms are exempt amid fierce crypto lobbying
Despite punting on non-custodial entities, the final rule did address comments about the First Amendment implications. The IRS correctly identifies the Bonta case, which we focused on in our comment. However, they suggest that the Bonta decision does not apply because their rule [image]
Wall Street Journal
The US finalizes rules requiring custodial crypto platforms to report user transaction info to the IRS; DeFi platforms are exempt amid fierce crypto lobbying
2024-06-30
A saving grace amongst all the crypto regulatory news today : at least we won't have to write a response to the final rulemaking on the IRS broker rule and non-custodial entities over the 4th of July week: [image]
Wall Street Journal
The US finalizes rules requiring custodial crypto platforms to report user transaction info to the IRS; DeFi platforms are exempt amid fierce crypto lobbying
Treasury finalizes rules to deter crypto tax evasion—but softens them after industry lobbying push
Despite punting on non-custodial entities, the final rule did address comments about the First Amendment implications. The IRS correctly identifies the Bonta case, which we focused on in our comment. However, they suggest that the Bonta decision does not apply because their rule [image]
Wall Street Journal
The US finalizes rules requiring custodial crypto platforms to report user transaction info to the IRS; DeFi platforms are exempt amid fierce crypto lobbying
Treasury finalizes rules to deter crypto tax evasion—but softens them after industry lobbying push
2024-06-29
Despite punting on non-custodial entities, the final rule did address comments about the First Amendment implications. The IRS correctly identifies the Bonta case, which we focused on in our comment. However, they suggest that the Bonta decision does not apply because their rule [image]
Reuters
The US Treasury finalizes a rule requiring cryptocurrency brokers to report new information on users' sales and exchanges of digital assets to the IRS
The U.S. Treasury Department finalized a rule on Friday requiring cryptocurrency brokers, including exchanges and payment processors …
A saving grace amongst all the crypto regulatory news today : at least we won't have to write a response to the final rulemaking on the IRS broker rule and non-custodial entities over the 4th of July week: [image]
Reuters
The US Treasury finalizes a rule requiring cryptocurrency brokers to report new information on users' sales and exchanges of digital assets to the IRS
The U.S. Treasury Department finalized a rule on Friday requiring cryptocurrency brokers, including exchanges and payment processors …
2024-04-11
Re: uniswap and an anticipated SEC lawsuit. Exactly two years ago, when the SEC engaged in a rulemaking to expand the definition of exchange, we responded with a comment that ultimately analyzed whether the exchange act would be constitutional as applied to software devs... [image]
Fortune
The US SEC sends decentralized crypto exchange Uniswap a Wells notice warning that the agency intends to bring an enforcement action against the company
The Securities and Exchange Commission warned Uniswap on Wednesday that it intends to bring an enforcement action against the company …
2024-02-21
Problem: usernames, squatting, fairness Crypto: build dutch auction protocol for spending unique name tokens to allocate scarce usernames. Add staking and slashing mechanism to discourage squatters... etc. Signal: all usernames will have goofy boomer numbers. Brilliant. [image]
Wired
Messaging app Signal finally rolls out usernames in beta, letting users conceal their phone numbers; Signal still requires inputting a phone number to register
We tested the end-to-end encrypted messenger's new feature aimed at addressing critics' most persistent complaint. Here's how it works.
2023-10-20
Sensational early reporting on the scale of Hamas crypto fundraising significantly misstated the amounts involved. In this important debunking Chainalysis shows how actual terrorist usage may be 1/2-of-1% of the previously reported numbers. [image]
CoinDesk
The US Treasury's FinCEN proposes labeling international crypto mixing as a “primary money laundering concern”, citing its use by Hamas and other illicit actors
Under pressure to address reports that Hamas and other terrorist groups are partially funded with crypto …
Sensational early reporting on the scale of Hamas crypto fundraising significantly misstated the amounts involved. In this important debunking Chainalysis shows how actual terrorist usage may be 1/2-of-1% of the previously reported numbers. [image]
The Block
Chainalysis says some recent media reports about the supposed use of crypto by terrorist organizations might be overstating metrics and using “flawed analyses”
But It's Deadly Hannah Lang / Reuters : US lawmakers urge White House crack down on Hamas use of crypto after Israel attack Assad Jafri / CryptoSlate : Chainalysis says crypto usag...
2023-10-19
Sensational early reporting on the scale of Hamas crypto fundraising significantly misstated the amounts involved. In this important debunking Chainalysis shows how actual terrorist usage may be 1/2-of-1% of the previously reported numbers. [image]
The Block
Chainalysis says recent media reports about the supposed use of crypto by terrorist organizations might be overstating metrics and using “flawed analyses”
- Chainalysis said some recent reports about the supposed use of crypto by terrorist organizations might be overstating metrics and using “flawed analyses.”
2023-08-24
Here are our initial thoughts on today's Tornado Cash indictment. The factual allegations of unlicensed money transmission are in conflict with FinCEN's longstanding guidance that an “anonymizing software provider is not a money transmitter.” https://www.coincenter.org/...
Blockworks
The US DOJ charges Tornado Cash co-founders Roman Storm, of Washington, and Roman Semenov, a Russian national, with money laundering and sanctions violations
Katherine Ross / Blockworks :
2023-02-18
Need to review the complaint but I suspect there will be pretty reasonable interpretations of the Howey test therein. Tokenizing obvious (and in some cases de jure as well as de facto) securities doesn't magically turn them into commodities. https://www.sec.gov/...
Bloomberg
The SEC sues Terraform Labs and Do Kwon, accusing them of selling unregistered securities and perpetrating a fraudulent scheme that lost $40B+ in market value
Takeaways from SEC complaint Cosmos Ecosystem Chat Newsletter : SEC Charges Do Kwon, Mars on Crescent, Turkey Earthquake Aid Proposal - CEC Issue #25 The Block : U.S. investigation...
Need to review the complaint but I suspect there will be pretty reasonable interpretations of the Howey test therein. Tokenizing obvious (and in some cases de jure as well as de facto) securities doesn't magically turn them into commodities. https://www.sec.gov/...
The Block
Sources: Jump is the unnamed “US trading firm” that the SEC said helped support the TerraUSD stablecoin in May 2021; the SEC has not accused Jump of wrongdoing
Published 1 hour and 25 minutes earlier on — Jump is the unidentified “U.S. trading firm” …
2023-02-17
Need to review the complaint but I suspect there will be pretty reasonable interpretations of the Howey test therein. Tokenizing obvious (and in some cases de jure as well as de facto) securities doesn't magically turn them into commodities. https://www.sec.gov/...
Bloomberg
The SEC sues Terraform Labs and Do Kwon, accusing them of selling unregistered securities and perpetrating a fraudulent scheme that lost $40B+ in market value
The US Securities and Exchange Commission is preparing to sue the company behind TerraUSD, a crypto stablecoin whose collapse …
2022-12-15
Senators Warren and Marshall's proposed bill subjecting software devs & nodes to AML is “a repudiation of liberal values and a move towards the types of surveillance and control prized by authoritarians like Vladimir Putin, Xi Jinping, and Kim Jong-un” https://www.coincenter.org/...
CoinDesk
US Senators Elizabeth Warren (D) and Roger Marshall (R) introduce the Digital Asset Anti-Money Laundering Act, including KYC requirements for wallets and miners
1/ Responding to Senator Warren's bill reminded me why I still believe in crypto: electronic cash. A defining characteristic that separates America from illiberal regimes like North Korea, China, and Russia is our reverence for individual autonomy, privacy, and dignity. https://twitter.com/...
CoinDesk
US Senators Elizabeth Warren (D) and Roger Marshall (R) introduce the Digital Asset Anti-Money Laundering Act, including KYC requirements for wallets and miners
2022-11-09
1/ OFAC today repealed the Tornado Cash designation that Coin Center is challenging in court and then replaced it with a new one. Nothing they've announced changes our strategy in this lawsuit. https://home.treasury.gov/...
The Block
The US Treasury's Office of Foreign Assets Control adds a designation to Tornado Cash that ties the crypto mixer to North Korea's nuclear weapons program
Kollen Post / The Block :
2022-09-14
@matthew_d_green To be clear, this is a pyrrhic victory. No one expected OFAC to actually come right out and ban code publication. Instead, they continue banning the usage of tools residing in specific addresses even though that also chills speech and is outside their statutory authority.
Axios
The US Treasury clarifies its Tornado Cash guidance and tells users who used the service for lawful transactions can apply for a license to withdraw their funds
New guidance from the U.S. Treasury Department's Office of Foreign Assets Control provides a roadmap for people who used Tornado Cash …