US


Policy

U.S. Senate Finance Committee Asks Crypto Industry for Tax Guidance

In a letter made public on Tuesday, Chairman Ron Wyden and Ranking Member Mike Crapo sought cryptocurrency industry comment around nine topics.

The new Congress will arrive for work at the U.S. Capitol on Jan. 3. (Jesse Hamilton/CoinDesk)

Markets

SEC Approval of Spot Bitcoin ETF Is Unlikely to Be a Game Changer for Crypto Markets: JPMorgan

Such ETFs have existed for some time in Canada and Europe, but have failed to attract large investor interest, the report said.

Photo of the SEC logo on a building wall

Policy

Probability for U.S. Approval of a Spot Bitcoin ETF Is Fairly High: Bernstein

The lack of a spot ETF leads to the growth of over-the-counter products like the Grayscale Bitcoin Trust, which are more expensive, illiquid and inefficient, the report said.

U.S. Securities and Exchange building (Shutterstock)

Policy

Former NYSE Broker to Pay $54M to Settle CFTC Crypto Fraud Charges

Michael Ackerman pleaded guilty in 2021 to accusations that he defrauded some 150 investors for $33 million in a digital asset trading scheme.

The U.S. Commodity Futures Trading Commission would be granted far-reaching authority over crypto trading and regulation in a new Senate bill. (Jesse Hamilton/CoinDesk)

Finance

U.S. Has Room for a Compliant Crypto ETF to Grow Market Share as a Bitcoin On-Ramp: Bernstein

Grayscale earns around $380 million in annualized fees despite its GBTC product being inefficient, illiquid and trading at a discount, the report said.

SEC, ICO Fraud

Markets

ChatGPT-Style Crypto App Sets AI Loose on Fed Rate-Bitcoin Price Relationship

The team behind Hong Kong-based Chain of Demand has built investment analytics engines for financial institutions and data providers like Bloomberg.

Chain of Demand CEO AJ Mak (Chain of Demand)

Policy

SEC Crypto Crackdown Adds Urgency for U.S. Lawmakers to Produce Regulatory Framework This Year: JPMorgan

Without a more solid legal framework, cryptocurrency activity will probably continue moving outside the U.S. and into decentralized entities, the report said.

(JamesDeMers/Pixabay)

Policy

Cardano Developer Rejects SEC Claim Its ADA Token Is a Security

“Under no circumstances is ADA a security under U.S. securities laws,” IOG said in a release.

Photo of the SEC logo on a building wall

Policy

U.S. Lawmakers Urge IRS, Treasury to Hurry Crypto Tax Rules

Congressmen Brad Sherman and Stephen Lynch called the industry "a major source of tax evasion" in a letter asking for the prompt release of proposed regulations on reporting requirements.

U.S. Rep. Brad Sherman (House Financial Services Committee)

Policy

SEC’s Binance.US Probe Started in 2020, Court Filings Show

The securities regulator detailed evidence of hundreds of millions of dollars in profiteering by the crypto exchange as it seeks to freeze company assets.

Binance Logo (Danny Nelson/CoinDesk)