Category: laws
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4 Decentralized Crypto Platforms to Watch Amid Stricter Tax Laws
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Cryptocurrency investors in the US are bracing for impact as tax authorities crack down on reports. Central exchanges (CEXs) will soon have to report cryptocurrency transactions to ensure tax compliance. Even MicroStrategy, which has more than $19 billion in Bitcoin gains, may be feeling the heat. The repeal of SAB…
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BitMEX Slapped With $100 Million Fine For Violating Anti-Money Laundering Laws
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BitMEX, the cryptocurrency trading platform, suffered significant losses $100 million fine Because it violates US Anti-Money Laundering (AML) requirements. This penalty arises from the company’s non-compliance with the US Bank Secrecy Act (BSA), which has allowed illegal transactions to take place on its platform for several years. Non-compliance with KYC…
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BitMEX Slapped With $100 Million Fine For Violating Anti-Money Laundering Laws
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BitMEX, the cryptocurrency trading platform, suffered significant losses $100 million fine Because it violates US Anti-Money Laundering (AML) requirements. This penalty arises from the company’s non-compliance with the US Bank Secrecy Act (BSA), which has allowed illegal transactions to take place on its platform for several years. Non-compliance with KYC…
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Crypto Laws To Pass ‘Fairly Quickly’ After Jan. 20, 2025
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With just seven weeks before Donald Trump takes office, the cryptocurrency industry’s expectations for friendlier governance and better regulations in the next four years continue to rise. Chief Policy Officer (CPO) of Coinbase, Faryar Shirzad, suggested that after January 20, 2025, legislation related to the digital asset sector will be…
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Ireland To Draft Urgent Crypto Laws Ahead Of EU’s Crackdown On Money Laundering
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Ireland appears to be taking rapid action to implement new cryptocurrency regulations in anticipation of upcoming EU anti-money laundering (AML) and counter-terrorism financing (CTF) standards. Finance Minister Jack Chambers Announce to the Cabinet that urgent legislation will be drafted to update the country’s cryptocurrency regulations before new EU laws come…
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Ireland To Draft Urgent Crypto Laws Ahead Of EU’s Crackdown On Money Laundering
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Ireland appears to be taking rapid action to implement new cryptocurrency regulations in anticipation of upcoming EU anti-money laundering (AML) and counter-terrorism financing (CTF) standards. Finance Minister Jack Chambers Announce to the Cabinet that urgent legislation will be drafted to update the country’s cryptocurrency regulations before new EU laws come…
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ADM violates US water laws, permit after leak at carbon capture project By Reuters
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By Valerie Volkovici and Leah Douglas WASHINGTON (Reuters) – Archer Daniels Midland Agricultural Co. confirmed on Friday that the U.S. Environmental Protection Agency found the company violated federal safe drinking water rules and an underground injection permit by causing a leak at the first major U.S. underground carbon sequestration facility…
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Musk-backed PAC under investigation for potential violations of Michigan laws By Reuters
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A political action committee backed by billionaire Elon Musk is under investigation in Michigan for possible violations of state laws, a spokesman for the Michigan secretary of state’s office said in a statement Sunday. Tesla (NASDAQ:) CEO Elon Musk previously said he had created a political action committee focused on…
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How A Leading Crypto Exchange Violated Anti-Money Laundering Laws
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Copyright: Shutterstock The cryptocurrency industry has had a turbulent journey, with triumphs and setbacks. One of these setbacks was the high-profile case BitmexBitMEX, a prominent Bitcoin exchange, has found itself at the center of a legal storm over its blatant disregard for anti-money laundering laws. This article delves into the…
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How A Leading Crypto Exchange Violated Anti-Money Laundering Laws
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Copyright: Shutterstock The cryptocurrency industry has had a turbulent journey, with triumphs and setbacks. One of these setbacks was the high-profile case BitmexBitMEX, a prominent Bitcoin exchange, has found itself at the center of a legal storm over its blatant disregard for anti-money laundering laws. This article delves into the…
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Europe faces a summer of diaper and tampon shortages as new EU deforestation laws threaten to disrupt the $3.5 billion industry
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U.S. papermakers have warned the European Union that a new law requiring them to trace wood to its origins threatens to disrupt $3.5 billion in trade and raise prices for diapers, sanitary pads and other hygiene products. It would be impossible to comply with the suspension. EU Deforestation Regulation Because…
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Hong Kong to Adjust Crypto Laws in Response to Lawmaker’s Inquiry
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Hong Kong’s financial regulators take a measured approach to cryptocurrency regulations, responding with constant changes to market developments. Christopher Howe, Secretary of the Treasury, recently Confirmed The government’s strategy of continually monitoring and adapting cryptocurrency rules to suit the evolving industry comes amid concerns that regulatory frameworks may stifle innovation…
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Hong Kong to Adjust Crypto Laws in Response to Lawmaker’s Inquiry
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Hong Kong’s financial regulators take a measured approach to cryptocurrency regulations, responding with constant changes to market developments. Christopher Howe, Secretary of the Treasury, recently Confirmed The government’s strategy of continually monitoring and adapting cryptocurrency rules to suit the evolving industry comes amid concerns that regulatory frameworks may stifle innovation…
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UK Planning Laws Hinder Investment, Warns Eli Lilly CEO
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The head of the world’s largest drugs company has criticised the UK’s planning system, claiming it stifles investment. Dave Ricks, chief executive of Eli Lilly, a maker of obesity drugs, said current planning processes in the UK were a major barrier to building factories quickly, unlike in the US and…
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Worldcoin’s Biometric Data Collection Violates Privacy Laws: Hong Kong’s Regulator
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The controversial Worldcoin project has faced another setback. Hong Kong’s privacy regulator, the Office of the Privacy Commissioner for Personal Data (PCPD), has ordered Worldcoin to cease all operations in the territory, citing that its practices violate local privacy regulations. The PCPD issued a statement this week revealing that Worldcoin…
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Hong Kong’s privacy watchdog accuses Worldcoin of violating data laws
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Hong Kong’s privacy regulator found Worldcoin to be in violation of local privacy laws, and asked the Worldcoin Foundation to cease all operations in the region. Worldcoin, an iris biometric cryptocurrency startup co-founded by OpenAI CEO Sam Altman, has found itself embroiled in a controversy over data collection practices in…
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Hong Kong’s privacy watchdog accuses Worldcoin of violating data laws
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Hong Kong’s privacy regulator found Worldcoin to be in violation of local privacy laws, and asked the Worldcoin Foundation to cease all operations in the region. Worldcoin, an iris biometric cryptocurrency startup co-founded by OpenAI CEO Sam Altman, has found itself embroiled in a controversy over data collection practices in…