The Maryland General Assembly is considering a new bill to regulate over 700 cryptocurrency kiosks in the state, targeting their role in scams. Recent reports highlighted that these kiosks have been linked to more than 4,400 complaints nationwide, causing losses of over $150 million. The proposed legislation aims to introduce registration and operating requirements, ensuring ...
Recent developments in the cryptocurrency sector spotlight significant risks for investors, auditors, and companies. This article outlines key auditing standards guiding cryptocurrency audits, including those from international bodies and the PCAOB. It explores the financial reports and audits of 55 publicly traded crypto companies from 2022 and 2023, revealing concerns about audit quality. The article ...
A Democratic lawmaker, Representative Gerald E. Connolly, is urging the US Treasury to stop plans for a strategic cryptocurrency reserve. He believes this reserve could primarily benefit President Donald Trump and his associates rather than the American public. In a letter to Treasury Secretary Scott Bessent, Connolly criticized the reserve as unnecessary and potentially wasteful, ...
Recent financial disclosures reveal that at least six members of Donald Trump’s cabinet have significant investments in Bitcoin, totaling millions of dollars. Health Secretary Robert F. Kennedy Jr. holds a Bitcoin account valued between $1 million and $5 million, while Budget Director Russell Vought disclosed a Bitcoin holding worth up to $15,000 but plans to ...
Tom Goldstein, the co-founder of SCOTUSblog, is facing serious legal issues, including tax evasion and alleged ongoing criminal activity. Prosecutors claim he has connections to cryptocurrency wallets involved in over $100 million in transfers and is using them to obscure his financial activities. They allege that Goldstein failed to file personal tax returns for 2022 ...
