Bitcoin Trading Is Illegal in Saudi Arabia, Warn Watchdogs

Mar 30, 2020 at 18:43 UTCUpdated Mar 30, 2020 at 19:43 UTCAlthough China remains, by far, the leading region for bitcoin mining, the coronavirus downturn is changing the picture in other geographies.According to Thomas Heller, business director of one of the world’s largest bitcoin mining operations, F2Pool, market dips have made it unprofitable for some…

Nov 24, 2020 at 10:25 p.m. UTCCoinbase Ditches US Customer Tax Form That Set Off False Alarms at IRSCryptocurrency exchange Coinbase has decided to discontinue sending customers 1099-Ks, the U.S. tax form which led the Internal Revenue Service (IRS) to mistakenly think traders had underreported their gains. The exchange will instead use the 1099-MISC form, at…

A federal judge denied onetime FTX CEO Sam Bankman-Fried's request to extend his sentencing process and delay a presentencing interview with the U.S. Probation and Pretrial Services System, which will recommend a sentence.Attorneys for Bankman-Fried filed a letter Wednesday requesting the extension, saying he faces a possible second trial on additional charges set for March

Socket, a protocol aimed at enhancing communication between blockchains, has raised $5 million from the crypto-friendly venture-capital funds Coinbase Ventures and Framework Ventures.The new capital will expand Socket’s work with Coinbase, including providing bridging opportunities for developers and users of Coinbase Wallet and Base, the company’s new layer-2 network atop Ethereum.With new layer-2 networks or

Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28.Shaurya is the Co-Leader of the CoinDesk tokens and data team, focusing on decentralized finance, markets, on-chain data, and governance across all major and minor blockchains.Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April…

After years of grandstanding on crypto, U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler has finally put skin in the game.The crypto-skeptic regulator – who over the course of his tenure has insinuated that proof-of-stake tokens are securities, intimated that all crypto exchanges are illegal enterprises and implied that all but one cryptocurrencies are…

Apr 7, 2020 at 23:30 UTCUpdated Apr 7, 2020 at 23:42 UTCBitcoin Cash Approaches Milestone With First Halving Expected WednesdayBitcoin cash (BCH), the cryptocurrency that broke off from bitcoin (BTC) due to a heated community disagreement in 2017, is about to hit a blockchain milestone. At block 630,000, expected to occur Wednesday morning Eastern time, the…

The U.S. Senate is poised to take another crack at regulating the crypto industry with a new bill that would place stringent anti-money laundering (AML) requirements on decentralized finance (DeFi) protocols.The bipartisan bill, the Crypto-Asset National Security Enhancement Act of 2023, would require DeFi protocols to impose bank-like controls on their user base, according to…

The verbal battle between the Winklevoss twins’ Gemini crypto exchange and Digital Currency Group, the crypto conglomerate that had helped power a now-frozen Gemini lending service, continued Friday, a day after DCG sought to dismiss a fraud lawsuit.On Thursday, DCG argued that Gemini’s fraud accusations over the Gemini Earn service should be tossed out, asserting…