Crypto Firm Gladius Tattles on Itself Before SEC Brings Down the Hammer

The SEC acknowledged a settlement with Gladius Network LLC today. Gladius raised almost $13 million in an ICO at the height of the crypto boom, from October to December 2017. The company tattled on itself last August, self-reporting potential violations to the SEC. As a result, the regulator has been gracious enough to opt not to impose additional financial penalties on Gladius. The catch? Gladius has to offer refunds on all ICO tokens. Gladius Reports Itself to the SEC The settlement is similar to the agreement NEO reached with Chinese regulators. In the case of NEO, the token had already

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Jamie Dimon: ‘I Have No Problem Paying Higher Taxes’, If They’re Used Wisely

J.P. Morgan Chase CEO Jamie Dimon has declared that he does not mind paying higher taxes as long as they are used where they are “most effective”. His comment comes as something of a bolt from the blue in the midst of a polarizing debate on whether the highest-earning Americans should be required to pay a top marginal tax rate of 70 percent as proposed by a number of prominent House Democrats. Speaking to CNBC on Wednesday, Dimon said: I believe that individuals earning the most can afford to pay more, and I have no problem paying higher taxes to address

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Korea’s Biggest Crypto Exchanges Have an Internal-Hotline to Check Suspicious Trading Activity

South Korea’s top cryptocurrency exchanges, even as competitors, have launched a joint initiative to strengthen their anti-money laundering efforts. According to a joint press release, Bithumb, Upbit, Corbit, and Coinone announced that they have established a joint anti-money laundering initiative. The plan includes a hotline between the four entities that share real-time information on suspected/proven trading activities. They include cases related to unregistered security offerings, exploitative lending, and voice phishing. The exchanges will also set up a shared database of suspicious crypto wallet addresses. It would assist the companies to detect the distribution of larger-quantity amounts from multiple trading platforms to

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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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South Africa Establishes a Consultation Paper to Regulate and De-Anonymize Bitcoin Transactions

The South African Reserve Bank has released a consultation paper to regulate cryptocurrencies in the region. However, the government is seemingly introducing banking-like features to the crypto-markets, going against the very ethos of what Bitcoin stands for. The bank chooses to call cryptocurrencies as crypto “assets” over the former term, deeming the distinction makes it

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Bulgaria Investigates Crypto Exchanges For Taxes, Asks 10% on Profits

The government of Bulgaria has started to investigate crypto exchanges to demand taxes from the profits investors generated from trading digital assets. The National Revenue Agency (NRA) has categorized cryptocurrencies as financial assets, which incur a 10 percent tax on profit that individuals have to disclose annually. Two Major Issues of Bulgaria’s Crackdown on Crypto

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Hong Kong Crypto Exchange BitMex Shutting Down Trading Accounts in the US and Quebec

The Hong Kong-based bitcoin futures exchange BitMex, is pulling the plug on trading accounts in the US and in the Canadian province of Quebec amidst growing regulatory restrictions in North America. Although BitMex is one of the most active bitcoin trading platforms in the world with a current turnover of $928 billion, the trading platform

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Winklevoss Twins: Bitcoin Needs Regulation so Investors Don’t Get Burned

The crypto market hasn’t fully recovered from the effects of 2018’s “crypto winter,” with the Bitcoin price dipping below the $3,500 mark on Sunday before making a minor recovery. However, Cameron and Tyler Winklevoss, co-founders of crypto exchange Gemini, are sticking with their optimistic outlook for the market. Speaking in an interview with Fortune, the Winklevoss twins

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Japan Not Considering Approval of Bitcoin ETF, FSA Denies Reports

According to a spokesperson from the Financial Services Agency (FSA), Japan is not considering the approval of a Bitcoin exchange-traded fund (ETF). Speaking to Bitcoin.com, an FSA representative said: There is no such fact that we are considering approving ETFs which track crypto-assets at present. We are not currently considering approving them. Japan Doesn’t See

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Malaysian Government Still Deciding Whether or Not to Legalize Cryptocurrency

Malaysian government officials have come out to say they are still undecided on whether or not they will legalize cryptocurrency. The matter is still under consideration, which is frustrating those looking to seize the moment to help the Malaysian cryptocurrency industry grow. As neighboring South East Asian nations such as Thailand, Singapore, and Hong Kong

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