US Government

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Trump Views Crypto a Threat, Proposes Countermeasures in New Budget

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The White House released the Budget of the U.S. Government on Monday, outlining some proposals to increase cryptocurrency oversight which President Donald Trump views as priorities. The budget proposes giving the Treasury more power over crypto and requests funding for FinCEN to expand its efforts to combat threats including from cryptocurrency. Also read: Bitcoin, Tesla … Read more

US Government Auctioning off Bitcoins Worth $37 Million in 2 Weeks

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The U.S. government has opened registration for the bidding of over 4,040 bitcoins, currently worth more than $37 million, which will be auctioned off on Feb. 18. The winning bidder will be notified on the same day. These bitcoins were forfeited in various federal criminal, civil and administrative cases, the U.S. Marshals Service explained. Also … Read more

Another Crypto Exchange Discourages the Use of Bitcoin Mixing Services

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The cryptocurrency exchange Binance was recently scrutinized for flagging a customer’s funds because the individual had used a bitcoin mixing application. Now the platform Paxos Global is discouraging the use of crypto mixers after a customer allegedly sent coins to a mixing service. Also read: Regulatory Roundup: EU-Wide Crypto Regulations, New Rules in Europe, US, … Read more

As FATF Regulations Galvanize, Crypto Mixing Applications Are Targeted

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Since the inception of Bitcoin, governments have tried to keep track of all the transactions taking place on the public blockchain. As the years progressed, authorities have shown a distaste for cryptocurrency mixing applications like Coinjoin. On Dec. 19, a Binance customer couldn’t withdraw his bitcoin because the exchange told him he used the mixing … Read more

Judge Rules Snowden Must Give Book Proceeds to US Government

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A U.S. district judge has ruled that former intelligence contractor Edward Snowden must turn over the proceeds of his new book to the U.S. government. According to the ruling, Snowden failed to obtain clearance for the materials and information used in his book. The same judge previously ruled against Kim Dotcom and Megaupload. Also read: … Read more

Circle Warns Poloniex US Customer Assets May Be Sent to the Government

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As part of its release of the cryptocurrency exchange Poloniex, Circle may begin charging fees to Poloniex US customers. And the company warns that any unclaimed digital assets, those in dormant accounts, may be sent to state governments, consistent with relevant regulations for abandoned property. Also Read: Circle Drops Poloniex Leaving US Crypto Traders High … Read more

IRS Agents Propose Draconian Tactics to Investigate Bitcoin Users

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A recently published U.S. Internal Revenue Service (IRS) slide describes alarming recommendations on how tax agents should deal with digital currency users who are not paying taxes. The slide recommends that agents question crypto users’ friends and family, comb through social media posts and issue subpoenas to make sure U.S. residents are paying taxes on … Read more

City of Dublin Ohio Plans to Launch Bitcoin Cash-Based SLP Token

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On July 1, Joshua Green, CEO of the Bitcoin Cash (BCH) implementation Bitcoin Verde, told the BCH community that the local government from Dublin, Ohio plans to mint a token using the Simple Ledger Protocol (SLP). The unnamed SLP token will be used for city events, redeemed for city-branded swag, discounts, and can be given … Read more

IRS Plans to Issue Guidance on Virtual Currency Taxation

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Internal Revenue Service (IRS) commissioner Charles Rettig has explained to U.S. representatives that the tax department plans to issue clearer guidance toward cryptocurrency taxation soon. Since 2014, Americans have been asking the tax agency for better clarification in regard to official tax guidelines. Also read: Last Will Platform Allows Your Loved Ones to Inherit Your … Read more