Wall Street is Playing Chicken on Bitcoin Adoption: Hedge Fund CIO

Ari Paul, the co-founder of crypto investment firm BlockTower Capital, says bitcoin adoption is at a standstill because Wall Street is taking a “wait-and-see” approach amid the bear market. In a lengthy tweetstorm, Paul says institutional viewpoints about cryptocurrencies fall into three categories: Venture capital mindset: Is there value creation we can capture with early-stage investment? Passive bitcoin or index exposure: Is this going to be digital gold or a portfolio hedge? Is this a market where we can generate profits as service providers or through active trading? Institutions Are In ‘Wait-and-See’ Mode Paul says the three viewpoints are not

Wall Street is Playing Chicken on Bitcoin Adoption: Hedge Fund CIO by CCN

Bill to Exempt Crypto From Securities Laws Will Be Delayed, Says Attorney: ‘Don’t Hold Your Breath’

Crypto attorney Jake Chervinsky doesn’t believe that a bill to exempt cryptocurrencies and ICOs from US securities law will be approved anytime soon. He cited the bureaucratic inefficiency of Washington as a key reason for his pessimistic outlook. “I don’t know if there’s any validity to the rumor that the Token Taxonomy Act will be reintroduced

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VanEck Unfazed by Shutdown’s Impact on Bitcoin ETF Application

By CCN.com: Investment manager VanEck remains confident about its bitcoin ETF application, despite the US government shutdown. Why? Because the firm believes it has laid a robust foundation for the VanEck/SolidX Bitcoin ETF to eventually win SEC approval. “I have done everything I can to build the right market structure for Bitcoin and digital assets,” VanEck’s director

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Chilean Citizens Will Begin Paying Cryptocurrency Taxes in 2019

Taxpayers in Chile are reportedly going to have to pay taxes on cryptocurrency earnings this year, as the country’s Internal Revenue Service (Servicio de Impuestos Internos, SII) has included a section for cryptoassets in a form that has to be filled on taxpayers’ Annual Income Tax Returns. According to local media, last year the country’s

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U.S. Congressman Reintroduces Bill to Give ‘Safe Harbor’ to Cryptocurrency Firms

United States Congressman Tom Emmer (MN-06) this week reintroduced a bill designed to provide regulatory clarity for cryptocurrency companies. Tagged the ‘Blockchain Regulatory Certainty Act’, it was initially introduced on the floor of the house in September 2018 alongside two other cryptocurrency-related legislative namely  a House resolution to express support for cryptocurrency and blockchain technology, and the Safe Harbor for

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SEC Lists Cryptocurrency as a Top ‘Examination’ Priority for 2019

Cryptocurrencies will be one of the examination priorities of the U.S. Securities and Exchange Commission (SEC) in 2019. According to the SEC’s Office of Compliance Inspections and Examinations (OCIE), this will be done with a view of protecting retail investors in the nascent asset class. Among the market activities that the OCIE will monitor include

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Japan’s Financial Watchdog Might Approve Cryptocurrency ETFs After Saying No to Futures

The Financial Services Agency of Japan is considering approving exchange-traded funds which track digital assets, Bloomberg reports. According to sources who confided in Bloomberg, the financial regulator is at the moment gauging sector interest in exchange-traded funds tracking cryptocurrencies. This comes less than a month since the financial watchdog put aside plans for cryptocurrency futures.

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UK Regulators Probe 18 Crypto Firms for Fraud and Illegal Operations

Over a dozen firms in the cryptocurrency sector are under investigation by UK’s financial regulator, reports the Financial Times. According to the business publication, the Financial Conduct Authority (FCA) disclosed on Sunday that 18 companies were being investigated over their involvement in selling cryptocurrencies. Additionally, alerts and warnings had been sent to another dozen or

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Wall Street is Backing Out of Crypto

Wall Street is quietly moving out of the crypto market, Bloomberg reports. While the market has continued to be battered by news of fraud and imminent regulatory crackdowns, there was a time when it seemed like Wall Street had started to warm up to the rise of crypto assets. Last year, when the crypto industry enjoyed

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Crypto Crash Offers Investors Tax Write-off Opportunity

Amidst a dreadful year for crypto investors, a significant upside to the dismal performance of their assets could be that the losses could end up saving them a significant amount of tax if they understand how to record and file appropriately. Under the U.S. tax code, bitcoin investors who got “rekt” in 2018 can use

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