The American government is getting hard on its crypto industry by imposing tax crackdown & stricter regulation, hence Russia, Belurus are planning to tap the situation to their favor. Nick Spanos, founder of Bitcoin Center NYC explained, “Bitcoin is pseudonymous, but fiat notes are anonymous, right now, we’re learning more and more about how US tax authorities plan to crack down on cryptocurrency users, but they’ve still yet to clarify their initial guidance issued back in 2014.”
The US government & its president Donald Trump have expressed their view on cryptos and it has significantly impacted over the future of the crypto industry in America. Larry Cermark, a lead in crypto research tweeted, “…the trends being seen in the United States are ominous and are a serious issue…the withdrawal of companies from the United States and the investigations that have been opened up against crypto companies by regulators are terrible signs for the future of the industry.”
A group major cryptocurrency traders thinking about making a boycott of counterparties occupied with terrible exercises in the crypto space. A group of traders from 35 computerized resources firms including such industry players as exchanging firm DRW Holdings Inc’s. Cumberland crypto unit, Mike Novogratz’s Galaxy Digital Holdings, and tech startup Ripple offer to make a boycott or parties who reneged on trades and engaged in dubious activities.
The way that cryptocurrencies making progressively strides is obvious from the way that many top famous people are getting into it. As of late, tennis megastar, Serena Williams reported the dispatch of her new Investment (VC) firm. She has affirmed that her VC is now made a venture into the Coinbase trade, the well-known crypto exchanging stage. Serena Williams, who gloats most number of singles fantastic hammers to her name has covertly gone into crypto space.
A recent study conducted by an event software platform, Bizzabo have revealed that 70% of the attendees of cryptocurrency event are male. Chief of Customer Success commented, “We’re seeing that reflected in the attendance for these events, as well as the speakers. One cryptocurrency conference recently featured 84 men onstage and three women. That has to change.”
U.S. President Donald Trump ended the partial government shutdown, albeit temporarily to be precise the government will be open for three weeks. The Securities and Exchange Commission SEC and Commodity Futures Trading Commission (CFTC) was largely paralyzed, delaying the IPO applications and possibly triggering insider trading, critically affecting the new crypto-industry.
eToro has recently shared survey results which indicated that the demand for cryptocurrency education has been increasing. The social trading firm, eToro has carried out the survey in the US division and shows that 69% of the respondents showed interest to learn about cryptocurrency; meanwhile 75% responded unaware of any knowledge regarding the industry.
The Code of Conduct on cryptocurrencies has been released by the Global Digital Finance (GDF) aimed at standardizing and increasing the adoption of cryptocurrencies. Reportedly, the companies such as Circle, ConsenSys, R3, Hogan Lovells, and DLA Piper have formed part of the GDF. The code was finalized on considering contributions from over 200 firms and from individuals and organizations.
Nasdaq has recently expressed their optimism towards their abilities in combating the fraud issues in the cryptocurrency industry. In a recent interview with Bloomberg, Tony Sio explained, “We’re now getting approached every week or two. We won’t work with all of these firms though since a lot of them are quite early stage or not reputable yet.”
The Vice President of the Federal Financial Monitoring Service of the Russian Federation (Rosfinmonitoring) has recently revealed their plan to employ the guidelines established by the Financial Action Task Force (FATF) to monitor cryptocurrency in the country. The guidelines made by FATF will apply until an official government stance on cryptocurrency has been decided in Russia.