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FASB unveils new crypto accounting rules, details inside
The FASB’s unanimous decision introduces new cryptocurrency accounting rules, offering clarity to businesses and investors.
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Mitsubishi UFJ Trust Bank and Ginco Collaborate to Offer Japan's First Crypto Asset Trust Services
Mitsubishi UFJ Trust Bank and Ginco are partnering to provide Japan’s first-ever trust services for crypto assets, in line with Japan’s Payment Services Act and tax reforms. (Read More)
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UK Regulator: Crypto Asset Businesses Expected to Comply with the Travel Rule Starting in September
According to the United Kingdom’s Financial Conduct Authority, crypto asset firms operating in the country will be required to comply with the Financial Action Task Force’s travel rule starting on Sept. 1, 2023. Crypto asset businesses will be required to take “all reasonable steps” to ensure compliance with the travel rule. When the rule becomes effective, compliance with the rule is still…
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Coinbase's Legal Chief Fires on SEC's Crypto Regulation Approach
On July 8, Paul Grewal, the chief legal officer of Coinbase, tweeted a number of times about his displeasure with the Securities and Exchange Commission’s (SEC) approach to cryptocurrency regulation. (Read More)
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Litecoin Surges in Value Amidst EDX Listing and Imminent Reward Halving, Enters Top Ten Rankings
During the past fortnight, the crypto asset litecoin (LTC) has surged over 40% against the U.S. dollar after the crypto exchange EDX announced the listing of LTC alongside three other prominent digital currencies. Additionally, Litecoin is on the verge of a reward halving, with only 30 days remaining until its block reward subsidy decreases from 12.5 LTC to 6.25 LTC. Litecoin Climbs Over 40% in 2…
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Decrypting the Enigma of Crypto currency Assets (2023)
The decentralized nature and cryptographic security of crypto assets have mesmerized the world and revolutionized how we view and interact with money. These digital currencies, which were developed at the nexus of technology and finance, have become a disruptive force, providing a wealth of advantages and opportunities. In this blog post, we’ll set out on a quest to unravel the mystique…
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Report: French Crypto Trader Jailed for 18 Months for Buying a Ferrari With Bitcoin
A French crypto trader, Thomas Clausi, is currently jailed in Morocco where he was convicted of the crime of purchasing a Ferrari using bitcoin. Clausi’s arrest and subsequent jailing came after a woman, who sold him a Ferrari for $440,000 in April 2021, filed a complaint against the crypto trader when the price of the crypto asset had dropped to just over $30,000. Crypto Trader Ordered to Pay…
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