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US & Canada


For over two years, Coinbase users in Wyoming have been unable access their cryptocurrency. “I’d venture to guess I lost $100,000 to this bullshit law,” one resident complained on Reddit. It was out of the blue, too, when in June 2015 the U.S.-based exchange suddenly suspended services for Wyoming residents. This was after state regulators …

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The co-founder of Tezos, the cryptocurrency project that made headlines with its $232 million initial coin offering last year, has received a sanction order from a U.S. financial regulator. According to a report by Reuters, the Financial Industry Regulatory Authority (FINRA) prohibited Arthur Breitman from association with broker-dealers for two years and handed him a …

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Major crypto industry investors Andreessen Horowitz and Union Square Ventures reportedly held a private meeting with U.S. Securities and Exchange Commission (SEC) officials to discuss the exemption of blockchain-based tokens from the agency’s oversight. The Silicon Valley-based venture capital firms and their special counsel met with senior officials from the SEC’s Division of Corporate Finance …

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San Francisco-based cryptocurrency exchange Kraken isn’t planning to respond to the New York Attorney General’s newly-unveiled inquiry into the ecosystem. Kraken was one of 13 exchanges that received a letter from New York Attorney General Eric Schneiderman on Tuesday as part of his new inquiry into cryptocurrency exchanges, as previously reported. While most exchanges generally …

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Craig Wright, the chief scientist of blockchain startup nChain who once claimed to be bitcoin’s pseudonymous creator, has filed a motion in U.S. federal court to dismiss a billion-dollar lawsuit filed against him. As previously reported, Wright is being sued by Ira Kleiman, filed the lawsuit in February on behalf of the estate of his brother, …

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Riot Blockchain, the Nasdaq-listed company that made headlines last year after its pivot to cryptocurrency related services, has received a subpoena from the U.S. Securities and Exchange Commission. The disclosure was made in Riot Blockchain’s annual report, which was released on April 17. The company said in its filing that the SEC is “requesting certain …

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Some of the startups named today in the New York Attorney General’s cryptocurrency exchange “inquiry” say they welcome the move. As CoinDesk reported on Tuesday, the office of New York Attorney General Eric Schneiderman has launched an inquiry into 13 cryptocurrency exchanges on Tuesday. The exchanges named were Coinbase’s GDAX, Gemini, bitFlyer USA, Bitfinex, Bitstamp USA, Kraken, …

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Federal prosecutors say a New York resident misled investors about a worthless cryptocurrency as part of a wider investment fraud scheme. The U.S. Attorney’s Office for the Eastern District of New York said Monday that Blake Kantor, also known as Bill Gordon, was being charged with conspiracy to commit wire fraud, making false statements and …

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Jon P. Brose is a partner and Brett R. Cotler is an associate in the blockchain and cryptocurrency practice at the law firm of Seward & Kissel. The following article is an exclusive contribution to CoinDesk’s Crypto and Taxes 2018 series. Like so much else in cryptocurrency taxation, the rules for crypto funds – pooled investment vehicles that seek above-market returns from digital asset …

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The head of the U.S. commodities regulator had a clear message during a speech on Friday: he is not an evangelist for cryptocurrencies. Speaking at Vanderbilt Law School last week, Commodity Futures Trading Commission (CFTC) chairman J. Christopher Giancarlo addressed the notoriety he experienced after delivering remarks that appeared sympathetic to bitcoin and other cryptocurrencies. As …

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Chandan Lodha is co-founder at CoinTracker, a portfolio and tax manager for cryptocurrency. He can be reached on Twitter here. The following article is an exclusive contribution to CoinDesk’s Crypto and Taxes 2018 series. As a hobbyist investor, my first foray into cryptocurrency was with Coinbase. I was buying a few coins here and there, and …

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Users of Credit Karma’s tax preparation software appear to be under-reporting their cryptocurrency holdings, according to data provided by the company. Fewer than 100 of the first 250,000 federal tax returns filed using the service reflected cryptocurrency gains or losses, the company reported. A spokesperson told CoinDesk in a statement that the “reporting of bitcoin …

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The Commodity Futures Trading Commission apparently affirmed its ability to regulate cryptocurrencies as commodities on Thursday, after an alleged scammer gave up a legal fight against the agency. Patrick McDonnell, whom the CFTC sued in January, sent a letter to U.S. District Court chief magistrate Roanne Manne of the Eastern District of New York, saying …

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The New York State Department of Financial Services (NYDFS) is taking steps to defend its much-contested track record as an early regulator of cryptocurrency. In remarks at this year’s Conference of State Bank Supervisors Tuesday, NYDFS superintendent Maria Vullo discussed the agency’s efforts to police the cryptocurrency space, touting the state’s technology-specific licensing regime, the …

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A proposed class action lawsuit has been filed against JPMorgan Chase, alleging that the bank overcharged its credit card customers when they used funds to purchase cryptocurrencies. Brady Tucker, the plaintiff named in the April 10 complaint, said that Chase Bank incorrectly charged him $143.30 in fees and $20.61 in interest stemming from purchases made …

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Mario “The Problem Solver” Costanz is a lifelong entrepreneur and the author of “Crypto Taxes Made Happy: The Definitive How-To Guide For Preparing Cryptocurrency Tax Returns In The United States,” available for free on Amazon. He was named to the “One to Watch” section of Accounting Today’s 2017 Top 100 Most Influential in Accounting List.  …

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The Ontario Securities Commission (OSC) is looking into the activities of cryptocurrency trading platforms that are operating in the province. Kristen Rose, an OSC spokeswoman, said Friday that the agency has received “a number of complaints” about platforms selling cryptocurrencies that may qualify as securities. “These platforms,  and any businesses that allow coins/tokens that are …

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Tanzeel Akhtar is an independent British journalist whose work has been published in the Wall Street Journal, CNBC, FT Alphaville, Investing.com, Forbes, Euromoney and Citywire. “Pump and dump” schemes have been around since long before cryptocurrency was invented. What’s striking about the crypto markets is that this type of manipulation is done out in the …

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The U.S. Securities and Exchange Commission (SEC) has filed a lawsuit against Longfin Corp, a company that saw its price jump more than 2,000 percent late last year after it announced the acquisition of a blockchain startup. The SEC alleged Friday that the company’s CEO, Venkata Meenavalli, and three other individuals were involved in stock sales …

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Defendants from a cryptocurrency services company charged with fraud by the CFTC are pushing back against the the agency’s assertion that cryptocurrencies are commodities. In January, the CFTC charged My Big Coin Pay Inc, Randall Crater, Mark Gillespie and other associated parties with fraud and misappropriation of funds, alleging that they swindled more than $6 …

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