Category Archives: Cryptocurrency News

FinCEN is looking for specialists in the fight against crimes in the cryptocurrency industry

The United States Financial Crimes Enforcement Network (FinCEN) is looking for digital asset experts to address legal issues related to the cryptocurrency industry. FinCEN has posted an advertisement for recruiting employees to investigate crimes related to digital assets. According to the requirements of the department, specialists will have to deal with the identification of risks to financial stability and the development of regulations that can prevent the identified problems. In addition, their range of tasks…

Coinbase has filed with the SEC for an IPO in the United States

Cryptocurrency exchange Coinbase is preparing for a public offering. The company has filed preliminary documents with the US Securities and Exchange Commission (SEC). According to a Coinbase blog post, the company is preparing to enter the stock market and has filed preliminary documents with the SEC. According to the statement: “Form S-1 will become legal after the SEC completes the review process, subject to market and other conditions.” Coinbase said the documents filed with the…

The digital evolution of the financial sector and why DeFi is the future

The existing financial system has a lot to offer, but not everyone has access to it and sometimes its effectiveness leaves much to be desired. The DeFi industry is gaining more and more popularity. Decentralized finance (DeFi) opens up access to financial services for people around the world. DeFi mitigates the risks of losing hard-earned money due to financial institutions’ risk-taking, error, and fraud. In addition, people can avoid the problems that come with the…

Genesis mining will use heat from BTC mining to heat greenhouses

Mining company Genesis Mining has announced the launch of a pilot project to use surplus energy from bitcoin mining to heat greenhouses in the Swedish city of Buden. Genesis Mining has created special mining containers that will connect to the greenhouses through a ventilation system used to transfer excess energy. According to calculations carried out at the Luleå Technical University, a 550 kW container will be enough to heat a greenhouse of 300 square meters.…

Estonia revoked over 1,000 licenses from cryptocurrency companies in 2020

This year, the Estonian authorities revoked the licenses of more than 1,000 cryptocurrency firms amid tightening oversight of the cryptocurrency industry and the fight against money laundering. The Estonian Ministry of Finance announced that the Financial Intelligence Agency has revoked licenses from more than 1,000 cryptocurrency companies since the beginning of the year. The statement followed a meeting of the State Commission on Combating Money Laundering, which discussed issues related to the regulation of cryptocurrency…

Binance Starts Shipping Binance Card Debit Cards To Eurozone

Binance cryptocurrency exchange announced the start of delivery of the Binance Visa Card to the European Economic Area (EEA) and support for the ETH cryptocurrency. Eurozone users will start receiving their cards soon, according to Binance’s announcement. To do this, they need to complete the ordering procedure. The daily spending limit for a physical Binance Visa Card is € 8,700, and no more than € 290 can be withdrawn from ATMs per day. Card users…

Banxa payment service will be listed on TSX Venture Exchange

Australia-based digital payments infrastructure provider Banxa plans to be listed on the Canadian TSX Venture Exchange later this month. Banxa’s shares will be listed on the TSX Venture Exchange on December 25, with a market cap of nearly $ 50 million. This listing will be the first in the world for this type of cryptocurrency company. TSX Venture Exchange is a Canadian public venture capital market for emerging companies. It is operated by the TMX…

Finnish Customs and Europol shut down Sipulimarket darknet market and confiscate assets

The large darknet market Sipulimarket has been closed and its assets have been confiscated by Finnish customs in cooperation with Europol and the Polish police. Europol and the Finnish Customs Service said last week that they “closed the darknet market Sipulimarket and confiscated all its content.” The operation was carried out in close cooperation with the Polish Police Office in Wroclaw, Europol’s European Cybercrime Center and Eurojust. “The Finnish Customs confiscated the web server and…

Sweden prepares to move to digital crown in 2022

The Swedish government is preparing to go digital. The authorities plan to complete studies related to the release of the state cryptocurrency by the end of 2022. This was stated by the Minister of Finance of Sweden Per Bolund (Per Bolund), adding that by this time the government will provide a detailed report on its research and developments. To date, the authorities are still studying how to safely transfer the country’s payment infrastructure to digital…

US IRS adds cryptocurrency clause to main tax reporting form

The IRS added a clause on cryptocurrencies to the main body of Form 1040. Previously, the question of ownership of cryptoassets was in Appendix 1, which was not filled out by all taxpayers. The IRS has moved the issue of ownership of cryptocurrencies to the main body of Form 1040, which is filled out by most taxpayers in the country. Now the question “During 2020, did you receive, sell or otherwise acquire financial interest in…