Articles for tag: conflicts of interest, cryptocurrency reserve, Donald Trump, financial oversight, Gerald Connolly, taxpayer protection, US Treasury

Market News

Democrat Lawmaker Calls on Treasury to Halt Trump’s Bitcoin Reserve Plans Amid Economic Concerns and Regulatory Issues

House Representative Gerald E. Connolly, a Democrat from Michigan, has urged the US Treasury to stop plans for a strategic cryptocurrency reserve. He argues that such a reserve would not benefit the American public but would instead enrich President Donald Trump and his associates. In a letter to Treasury Secretary Scott Bessent, Connolly criticized the ...

Market News

Pritzker’s New Proposal Targets Crypto ATMs to Combat Scams and Money Laundering Risks

Illinois Governor JB Pritzker plans to address concerns about cryptocurrency ATMs in his upcoming State of the State address. His proposed legislation aims to combat scams and money laundering linked to these machines. Key features of the proposal include setting daily transaction limits, capping fees to prevent exploitation, and mandating receipts detailing the dollar value ...

Market News

Nigeria to Tax Crypto Industry: New Licensing Regulations for Cryptocurrency Exchanges Explained

The Nigerian government is moving towards taxing cryptocurrency transactions to boost revenue, with a new tax framework bill expected to be approved soon. The Securities and Exchange Commission (SEC) is working on establishing a formal taxation system for crypto transactions on regulated exchanges while also aiming to issue more licenses to these platforms. This initiative ...

Market News

Impact of Large Bitcoin Transactions on Cryptocurrency Regulations: Understanding Their Role in Shaping Legal Frameworks

The cryptocurrency landscape, particularly Bitcoin, has evolved significantly in the last decade, leading to greater scrutiny from governments and regulators due to large transactions, such as converting 10,000 BTC to USD. This kind of transaction, worth hundreds of millions, raises concerns about tax evasion and money laundering, prompting authorities to enforce stricter regulations like Anti-Money ...

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Outgoing CFTC Chair Rostin Behnam Calls for Stricter Cryptocurrency Regulations Before His Departure

Outgoing CFTC Chair Rostin Behnam urged for stronger cryptocurrency regulations during his final speech at the Brookings Institution. He emphasized that as cryptocurrencies increasingly blend with traditional finance, clearer rules are necessary to avoid long-term risks. Behnam noted that the process to pass new crypto legislation could take six to ten months, with additional time ...

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