FinCEN: Stablecoin Issuers Are Money Transmitters, No Matter What

The around 30 individuals are suspected to have traded cryptocurrency stolen during the $560 million exchange hack in 2018.Tokyo, Japan(Sofia Terzoni/Pixabay )Jan 22, 2021 at 10:22 a.m. UTCUpdated Jan 22, 2021 at 10:24 a.m. UTC30 Charged in Japan With Trading $96M-Worth of Crypto Stolen in Coincheck HackAround 30 people have been formally charged in Japan…

This article originally appeared in First Mover, CoinDesk’s daily newsletter putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day.Moons (MOON), the native token of Reddit's r/CryptoCurrency community of over 6.5 million users, has chalked up a triple-digit percentage price gain this week. One analyst cited Reddit's…

Ethereum's layer-2 teams are butting heads once again. This time, major figures in the space are condemning Matter Labs, the creator of zkSync, over its decision to trademark the acronym "ZK," which is shorthand for "zero-knowledge” cryptography, the core technology underlying zkSync and a plethora of other blockchain projects. Matter Labs claimed it made the

Aug 25, 2020 at 12:56 UTCUpdated Aug 25, 2020 at 13:10 UTCBitGo CEO Mike Belshe (CoinDesk archives)Crypto custody provider BitGo has filed paperwork with New York’s financial regulator to offer its services in the state. In an announcement Tuesday, the company said it was seeking approval from the New York State Department of Financial Services…

Mar 16, 2020 at 12:00 UTCThis is what happens without properly functioning circuit breakers (via Shutterstock).Traders in cryptocurrencies have long extolled the virtues of their market’s 24/7/365 nature. Now, after a brutal week of sell-offs and flash crashes, some players are calling for what would have been unmentionable, if not unthinkable, even during the cryptocurrency market’s…

Nov 20, 2020 at 4:03 p.m. UTCUpdated Nov 20, 2020 at 4:19 p.m. UTCGerman Finance Minister Says He Does Not Support Private Cryptos: ReportGerman Finance Minister Olaf Scholz, speaking at a banking congress Friday, showed no love for privately issued cryptocurrencies.“I do not support private-sector digital currencies,”  Scholz said, according to Reuters.Coming from the finance…

Indonesia’s Ministry of Finance said the total tax revenue from crypto in 2023 was $31.7 million (Indonesian Rupiah 467.27 billion).The country’s tax revenue last year fell 62% compared to the partial collection period in 2022, when the tax regime was introduced in May 2022.Crypto transactions in Indonesia are subject to dual taxation: a 0.1% income

Urban Tea has hired two new executives ahead of its expansion into cryptocurrency mining.Feb 18, 2021 at 9:15 a.m. UTCChinese Retailer Goes From Bubble Tea to Crypto Mining in Unlikely PivotA retailer of specialty teas and baked goods based in Hunan, China is expanding its business into cryptocurrency mining.According to a press release on Thursday,…

Cathie Wood’s Ark Investment Management, the second-largest holder of Coinbase Global (COIN) stock, doubled down on its investment in the crypto exchange after the U.S. Securities and Exchange Exchange sued the only publicly traded crypto exchange sending share prices tumbling.ARK bought 419,324 shares of Coinbase, worth around $21.6 million based on Tuesday's closing price of…