• Visa Plaid antitrust
    Regulation,  Technology,  United States

    U.S. sues to stop Visa’s acquisition of payments fintech Plaid

    The Department of Justice brought an anti-trust suit seeking to block the deal for Plaid, which lets merchants bypass online debit card payment middlemen

    In Nov. 5 filing with the U.S. District Court for the Northern District of California, the Department of Justice (DoJ) claimed in a court filing that as “Visa learned more about Plaid’s efforts to launch its own pay-by-bank debit service that would directly compete with Visa, its executives grew increasingly alarmed.”

  • Gemini TaxBit partner
    Regulation,  United States

    Gemini, TaxBit partner on tax tools as IRS releases new guidance

    The exchange will offer features that help users keep track of tax obligations and reduce their liabilities

    The IRS is ramping up efforts to track down those who fail to pay tax when they sell digital assets for a profit—not to mention those who fill out the relevant forms incorrectly. But exchanges in the space are now attempting to make it easier for their users to abide by the rules.

  • bitMEX hires compliance officer
    Regulation,  United States

    BitMEX hires chief compliance officer following U.S. money laundering charges

    Notably, the new compliance officer is expected to bring expertise on the Financial Action Task Force’s recommendations for virtual asset service providers

    Global Digital Finance’s Anti-Money Laundering Working Group advisory council Malcolm Wright is now the chief compliance officer of troubled crypto derivatives exchange’s BitMEX operator.

  • cryptocurrency enforcement framework
    Cryptocurrencies,  Regulation,  United States

    DoJ launches law enforcement guide to crypto

    The Department of Justice’s extensive report, ‘Cryptocurrency: An Enforcement Framework,’ singles out many of the challenges cryptocurrencies bring to law enforcement

    U.S. Attorney General William Barr today released an 83-page report detailing the threats and challenges cryptocurrencies pose to law enforcement, and in some ways, it’s a doozy.

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