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CFTC Commissioner: Crypto Industry Should Regulate Itself

At the Yahoo Finance All-Markets Summit on February 7th, a U.S. CFTC regulator encouraged the digital currency industry to start formally regulating itself. Brian Quintenz, a commissioner with the Commodity Futures Trading Commission (CFTC), said that the crypto industry should form what’s known as a self-regulatory organization, or SRO, similar to those that exist in […]

Colorado Representative Jared Polis Asks Congress to Draft Bitcoin Disclosure Guidelines

This week, Colorado House Representative Jared Polis sent a letter to the U.S. House Committee on Ethics (HCE) asking the organization to put forth statutes that require government employees to declare their Bitcoin and other digital currency holdings: “A Member or covered employee should report any virtual currency holding as they would report any other […]

The IRS Wants to Tax Your Cryptocurrency

As we know, blockchain technology is premised on anonymity. Transactions are public, but linked only to an electronic address. Anonymity, though, is the main fuel for underground economies, whose transactions are currently conducted primarily through cash. If cryptocurrencies were to replace cash as the preferred medium of exchange, they could potentially expand the underground economy […]