IRS Implements Mandatory Cost Basis Reporting for Digital Assets to Combat Tax Evasion

White House Report Challenges Stablecoin Yield Ban, CLARITY Act Advances in Senate

A White House report argues against banning stablecoin yields, highlighting minimal benefits for bank lending and reduced consumer earnings. Key officials support the CLARITY Act, but the Senate Banking Committee's timeline remains uncertain, affecting the bill's chances before summer recess.

Criticized for freezing too slowly: USDC freezes are taking too long! Circle CEO: We will definitely wait for a court order before freezing; we refuse to freeze it on our own

Circle CEO Jeremy Allaire said the company will not proactively freeze wallet addresses unless it receives a court order or law-enforcement requirement. Even amid allegations of hacker money laundering and community backlash, Circle continues to insist on operating under the rule of law. Jeremy Allaire sets Circle’s law-enforcement bottom line ----------------------------- As the global cryptocurrency market surges with uncertainty, Circle’s CEO Jeremy Allaire, at a press conference in Seoul, South Korea, made a clear stance on the market’s most sensitive issue of “asset freezes.” He noted that while Circle has technical means to freeze specific wallet addresses, unless it receives a court order or an official directive from law-enforcement agencies, the company will not

Can bypass FSC regulations on using credit cards to buy crypto? OdinTing introduces the Wallet Pro service for buying crypto with a U.S. debit card

The OwlPay and Wallet Pro services launched by OdinTin use stablecoin technology to enable B2B cross-border payments, and—by partnering with major international payment players—showcase its ambitions for expansion in the fintech sector. By operating from overseas, OdinTin bypasses Taiwan’s regulatory restrictions, providing fast virtual-asset trading. Meanwhile, as it faces the newly promulgated Virtual Asset Services Act, it is set to become a reference template for other foreign-invested companies entering the Taiwan market.

CLARITY Act Dropped From Senate Schedule; Crypto Bill Faces May Deadline to Avoid 2030 Delay

Senate Banking Committee Chair Tim Scott has delayed advancing the CLARITY Act due to unresolved issues, including stablecoin disputes and DeFi provisions. With a critical May deadline approaching, the bill's future remains uncertain amid political challenges.

South Africa's FSCA Receives 128 Crypto Exchange License Applications by November 30 Deadline

As of November 30, 2023, South Africa's FSCA received 128 crypto asset service provider license applications. Of these, 19 were withdrawn, 74 are under review, and others have set assessment dates, indicating a push for investor protection in the digital asset space.

Criticized for freezing USDC too slowly! Circle CEO: We will definitely wait for the court’s order before freezing—refusing to freeze privately/by ourselves without authorization

Circle CEO Jeremy Allaire said the company will not proactively freeze wallet addresses unless it receives a court order or a request from law enforcement. Even amid hacker money-laundering disputes and community backlash, Circle still insists on operating in accordance with the rule of law. Jeremy Allaire sets Circle’s law-enforcement bottom line ----------------------------- As the global cryptocurrency market roils, Circle’s CEO Jeremy Allaire, the stablecoin issuer, delivered a clear stance on the most sensitive issue in the market at a press conference in Seoul, South Korea. He pointed out that although Circle has the technical means to freeze specific wallet addresses, unless it receives a court order or a formal instruction from law-enforcement authorities, the company will not take such action on its own.