Policy & regulation

Dark-Web Vendor and Pharmacist Charged With Trafficking Drugs Worth $270M in Bitcoin

A dark-web vendor and his supplier, who allegedly used the murky recesses of the internet to sell drugs and launder money, have been formally charged in the U.S. Disclosure The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. …

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Social Engineering: A Plague on Crypto and Twitter, Unlikely to Stop

The teenager arrested for allegedly masterminding the recent Twitter hack comes from a community that’s been targeting crypto users for years. The group’s attacks have one big thing in common: They take advantage of human fallibility rather than code vulnerability. These so-called social engineering attacks are growing in sophistication, and while the Twitter case is …

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US Lawmakers Don’t Want Proof-of-Stake Networks to Get Overtaxed

Crypto holders earning new tokens by staking their coins might be at risk of being overtaxed, believe several members of Congress. Four lawmakers wrote a letter to the Internal Revenue Service Wednesday, asking the U.S. tax agency to ensure stakers don’t face tax liabilities for receiving block rewards before they sell their new tokens. The …

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Chinese Ex-Banker Says Digital Currency Should Replace Fiat Money

A former vice president of a top Chinese bank has argued that digital currency should replace fiat in the nation’s financial systems. Disclosure The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary …

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Zephyr Teachout: Take Back the Economy From Economists

When I answer the phone, Zephyr Teachout quickly explains our call might be shorter than planned. Both she and I are at the whim of her two-year-old toddler, who is sleeping and could wake at any time. Teachout, a law professor at Fordham University in New York, is best known for her runs for governor …

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Where FATF Crypto Compliance Gets Interesting: Africa

Africa isn’t included on the virtual asset regulatory map just yet. But crypto businesses seeing strong growth across the 54-country continent are working hard on know-your-customer (KYC) rules to meet the exacting standards set out by the Financial Action Task Force (FATF).   A broad range of entities operating in Africa, ranging from crypto exchanges to …

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Money Reimagined: Let’s Be Privacy Scolds

Michael Casey is on vacation this week. The following essay was written by Marc Hochstein, CoinDesk’s Executive Editor. Once I pried into a stranger’s affairs for no good reason at all. This happened almost 20 years ago, but the story offers an important lesson for those shaping the future of money today.  My wife took a …

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Ripple Says XRP Lawsuit Based on ‘Unsupported Leaps of Logic’

The lead plaintiff in an ongoing class-action lawsuit accusing Ripple of securities fraud has not demonstrated that statements made by CEO Brad Garlinghouse in 2017 are false, Ripple claims in court documents filed Wednesday. See Ripple’s filing in full below: Disclosure The leader in blockchain news, CoinDesk is a media outlet that strives for the …

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Central Banks Are Privacy Providers of Last Resort

J.P. Koning, a CoinDesk columnist, worked as an equity researcher at a Canadian brokerage firm and is a financial writer at a large Canadian bank. He runs the popular Moneyness blog. Have central banks quietly pivoted to becoming consumer privacy advocates? It certainly seems like it. Back in 2017, Denmark’s central bank proclaimed it would “not …

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From Enron to Wirecard: How Blockchain Tech Could Have Helped

Adam Traidman is CEO of BRD, a mobile cryptocurrency wallet. If a global company can successfully hide billions of dollars overnight, we have a problem. If it is rigorously audited by a leading accounting firm, and regulated by one of the most thorough regulatory agencies in the world, yet still manages to cover up the …

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