• SEC questions Wyoming custody
    Wyoming's claim to be able to allow firms to custody digital assets seems alien to the SEC (Photo: Pixabay/Mike Goad)
    Regulation,  United States

    SEC taking dim view of Wyoming’s claim it can authorize crypto custody

    The Securities and Exchange Commission is seeking comments on Wyoming’s recent No-Action Letter authorizing state-chartered trust companies to custody traditional and digital assets

    November 10, 2020 /

    The Wyoming letter asserts that the state-chartered trust companies are allowed to be “qualified custodians” for digital assets. In response, the SEC’s Division of Investment Management published its own staff statement highlighting that the Wyoming letter made clear that it “expressly states that the letter ‘should not be construed to represent the views of the SEC or any other regulatory agency.’”

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  • Visa Plaid antitrust
    The Department of Justice is trying to block Visa's acquisition of fintech Plaid (Photo: Wikimedia Commons)
    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

    November 6, 2020 /

    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.”

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  • Gemini TaxBit partner
    The T word: a word that fills crypto enthusiasts with dread (Photo: Pixabay)
    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

    October 29, 2020 /

    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.

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  • bitMEX hires compliance officer
    You'll be shocked—shocked!—to learn that BitMEX has brought in a compliance expert
    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

    October 12, 2020 /

    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.

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