Regulators in Maryland, Nevada and Canada Weigh in on Bitcoin Debate
Two US states have issued new advisories and warnings on bitcoin, while Canada's tax authority has outlined its position on revenue from the cryptocurrency. The Nevada Department of Business and Industry, Financial Institutions Division, has issued consumer and investor guidance on digital currencies. Maryland's Department of Labour, Licensing and Regulation issued a warning on the risks associated with digital currencies, while Canada's tax authority issued more guidance on bitcoin activities and transactions. Of the three, the Canadian guidance is the most likely to have a direct and....
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This piece has been updated with additional information from the Nevada Attorney General's Office, as well as a copy of the formal complaint filed against Bryan Micon. The Nevada Attorney General's Office is seeking to arrest the operator of defunct bitcoin poker service Seals with Clubs. As reported by the Las Vegas Review-Journal, Bryan Micon was charged in Nevada court on Monday with operating an unlicensed interactive gaming system. Micon is accused of failing to acquire the necessary licensure to operate Seals with Clubs. If convicted, he could face up to 10 years in prison and....
Those of us who have been closely following the happenings in bitcoin and cryptocurrency industry have heard about National Science Foundation's recent grant to three top universities in the United States for research on cryptocurrencies. University of Maryland is one of the recipients of the total $3 million research grant along with Cornell University and University of California- Berkeley. A lot of us haven't had a chance to know what kind of research these universities will be doing on bitcoin to receive a small fortune. Here is an insight to what the researchers at University of....
Crypto lender Nexo is having issues with state authorities from California, New York, Washington, Kentucky, Vermont, South Carolina, and Maryland. The enforcement actions from multiple state securities regulators detail that Nexo’s Earn Interest Product (EIP) may be in violation of securities laws.
Nexo Targeted by Several Securities Regulators Over the Crypto Lender’s Earn Interest Product
Following the issues that took place last year against Celsius’ and Blockfi’s interest-bearing accounts, the crypto lender Nexo has been targeted by several state....
Editor’s Note: We would like to apologize for the factual inaccuracy of this article. The University of Maryland is not giving research grants; rather, they have received a grant from the National Science Foundation so they can study cryptocurrency. Update: This article has been modified to correct a number of reporting inaccuracies that appeared in the original text. We have added an acknowledgement to research teams at Cornell and UC Berkley, who are working as collaborators on this project with the University of Maryland. Additionally, we have added an acknowledgement to Elaine Shi, who....
There are now three bitcoin exchange-traded funds (ETFs) in North America, all approved within the past month by Canada’s securities regulators. They are currently trading on the Toronto Stock Exchange. The latest approved bitcoin ETF, backed by Mike Novogratz’s Galaxy Digital, began trading Tuesday. 3 Bitcoin ETFs in Canada Canada’s securities regulators have approved three bitcoin exchange-traded funds (ETFs) within the past month. The first approved North American bitcoin ETF was Purpose Bitcoin ETF, followed by Evolve Bitcoin ETF. Both are now trading on the Toronto....