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Two U.S. senators have criticized the Department of Justice (DOJ)’s new interpretation of “money transmission,” which extends requirements to non-custodial software, citing concerns over its impact on crypto networks and financial innovation. “I’m concerned the DOJ’s interpretation would treat software developers as criminals for merely writing and publishing code used by others,” one of the … Read more
If the Justice Dept. prevails in the case against the cryptocurrency mixer, internet service providers and the post office may also be liable to transmitter requirements, they said. Go to Source
The SEC alleges that Prager Metis, an accounting firm engaged by bankrupt crypto exchange FTX in 2021, committed hundreds of violations related to auditor independence. Go to Source
A new push for clarity on compliance from Senator Wyden aims to ensure economically distressed communities receive promised benefits from crypto mining companies. Go to Source Powered by WPeMatico
Several U.S. lawmakers have spoken up against the cryptocurrency tax provision in the $1 trillion infrastructure bill. While the bill has been revised from last week’s version, the text is still “unworkable,” according to Senator Pat Toomey. “I plan to offer an amendment to fix it.” Other lawmakers, including Sen. Ron Wyden, Rep. Warren Davidson, … Read more
While Americans are still getting their third stimulus payments, discussions of tacking on a fourth round of direct payments to Joe Biden’s trillion-dollar infrastructure proposal have started trending. Just recently, a coalition led by Senate Finance Chair Ron Wyden and over a dozen Democratic leaders wrote a letter to President Biden asking to get “much-needed … Read more
