Issues

German finance regulator issues warning about Binance's stock tokens offering

German finance regulator issues warning about Binance’s stock tokens offering

Germany’s Federal Financial Supervisory Authority, or BaFin, said in a translated version of a notice published Wednesday that it “has reasonable grounds for suspecting” that crypto exchange Binance may be in violation of the country’s securities laws in connection with its recently announced stock tokens service. As previously reported, Binance went live with a tokenized …

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Chinese Hospital Issues First Electronic Bill on Blockchain

Chinese Hospital Issues First Electronic Bill on Blockchain

A hospital in China sent the first electronic bill to a patient on its blockchain-based invoice management platform on Monday.  The People’s Hospital of Chengmai County, a public hospital in the Hainan province of South China, is the first hospital to issue and keep track of invoices on a blockchain in the province, according to …

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FCA issues warning against cryptocurrency investment and use

FCA issues warning against cryptocurrency investment and use

The Financial watchdog of the United Kingdom, the Financial Conduct Authority [FCA] on Monday, released a warning for consumers about the investment risk in cryptocurrency. According to the statement, the focus of the warning was mainly towards crypto-assets and businesses promising high returns. The warning included the FCA stating that the consumers should be prepared …

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Fed researchers survey past literature on central bank digital currencies and highlight current issues

Fed researchers survey past literature on central bank digital currencies and highlight current issues

Researchers from the U.S. Federal Reserve published a deep-dive into the past literature on central bank digital currencies on Monday — while also laying out critical considerations for the future of such initiatives.  With a wholly digital dollar — whether from a private entity, the Fed itself or a mix of the two — potentially …

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SEC issues no-action letter in response to digital asset securities questions

SEC issues no-action letter in response to digital asset securities questions

A September 25 letter from the Securities and Exchange Commission (SEC) has cleared the way for additional means of using alternative trading systems to facilitate the trade of digital asset securities. The no-action letter, drafted by the SEC’s Division of Markets and Trading and addressed to FINRA vice president of risk oversight and operational regulation …

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Crypto Holders Still Face Issues Reporting Tax Liabilities, Survey of CPAs Finds

Crypto Holders Still Face Issues Reporting Tax Liabilities, Survey of CPAs Finds

Crypto-literate public accountants are concerned their clients might face Internal Revenue Service (IRS) audits and penalties for underpaying taxes on their crypto holdings, a new survey finds. Cryptocurrency accounting service provider Blox and tax software developer Sovos conducted a survey of roughly 45 Certified Public Accountants (CPAs) familiar with crypto, finding that the majority believe …

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