September 23, 2022

IRS to summon users who don’t report and pay tax on crypto transactions

[ad_1] With the crypto community growing bigger and as trading volumes reach new highs, the United States is also making more effort to ensure that its Internal Revenue Service (IRS) could properly collect cryptocurrency tax.  U.S. Attorney Damian Williams, Deputy Assistant Attorney General David Hubbert and IRS Commissioner Charles Rettig announced that U.S. judge Paul …

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GitHub unbans Tornado Cash repositories following OFAC guidance

[ad_1] Crypto mixer Tornado Cash has returned to the software development platform GitHub after several weeks of being banned on the website. Ethereum developer Preston Van Loon took to Twitter on Thursday to report that GitHub has partly unbanned the Tornado Cash organization and contributors on their platform. The developer suggested that Tornado Cash’s code repositories …

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Nifty News: Zilliqa teases Web3 gaming console, Funko teams up with Warner Bros. and more…

[ad_1] Blockchain company Zilliqa is launching a Web3 focused console with a cryptocurrency wallet and mining capabilities, along with featuring gaming titles from the company. On Sept. 23, prototype images were released showing an array of ports including HDMI, Ethernet and USB connections, although full hardware specifications and the price of the unit remain guarded. …

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Israeli crypto exchange receives capital markets license in country first

[ad_1] Israeli-based crypto exchange Bits of Gold became the first crypto firm in the country to receive a license from the Capital Markets Authority according to social media posts from the company on Sept. 18. As a result of attaining the license, Bits of Gold will be able to store digital currencies through secured custody …

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CTFC slammed for ‘blatant regulation by enforcement’ over Ooki DAO case

[ad_1] The Commodities Futures Trading Commission (CFTC) has sparked strong criticism from the community after filing a federal civil enforcement action against members of decentralized autonomous organization Ooki DAO over digital asset trading violations. In a Sept. 22 release, the CFTC stated that it had filed and simultaneously settled charges against the founders of decentralized …

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Rep. Warren Davidson: Stablecoin bill has ‘outside chance’ of finalizing this year

[ad_1] There is a small chance the U.S. House of Representatives could pass the bill to regulate stablecoins by year-end, though it’s more likely it will pass in the first quarter of 2023, says U.S. Congressman Warren Davidson.  According to a Thursday report from Kitco, Davidson made the remarks at the Annual Fintech Policy Forum …

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Many NFT projects lack adequate smart contract testing, says nameless founder

[ad_1] Jimmy McNelis, the founder of Web3 tech firm nameless, says there are too many NFT projects rushing to market without proper smart contract testing — potentially leading to millions lost. Speaking with Cointelegraph, McNelis suggested that a lot of NFT projects often rush to market without fully simulating how its smart contracts will work, …

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