Lightning has struck the 2020 U.S. presidential campaign. A new super PAC, Humanity Forward Fund (Humanity FWD), launched this week in support of Andrew Yang’s bid for the 2020 presidential seat. Spearheaded by a handful of bitcoin faithfuls, the super PAC will accept bitcoin donations through the Lightning Network in partnership with OpenNode, marking both…
Online poker site Americas Cardroom (ACR) now holds the Guinness World Record for largest cryptocurrency jackpot in an online poker tournament. The site made a $1,050,560 payout in bitcoin to the winner of its online competition. ACR first published the news on its Twitter page on Wednesday, July 25, 2019. The winner, Brazilian online poker…
The U.S. Internal Revenue Service (IRS) is sending taxpayers who have conducted cryptocurrency transactions friendly reminders to pay their cryptocurrency taxes. These so-called “soft notices,” according to tax information website IRSMind, have been circulating since June 2019 to individuals who may have neglected to report (or underreported) their cryptocurrency gains on their recent taxes. The…
Steven Mnuchin, the United States Secretary of the Treasury, has stated that regulators are likely to impose new restrictions on cryptocurrency in the near future. This stance was likely a follow-up to President Trump’s comments blasting Facebook’s libra coin, as well as bitcoin and other cryptocurrencies. “We’re looking at all of the crypto assets,” Mnuchin…
A grand jury has charged 46-year-old William Green of Wall Township, New Jersey, for operating an unlicensed bitcoin exchange. The New Jersey Attorney’s Office indicted Green on July 24, 2019, for running an illegal money-transmitting business called Destination Bitcoin. Green allegedly converted over $2 million in cash to bitcoin, charging his clients a commission for…
Popular tech retailer Newegg announced a significant step toward crypto adoption, confirming that it will be providing bitcoin payment options to consumers in 73 countries. Anthony Chow, Newegg’s president of global sales, said that the move is in line with its objective to drive innovation within the e-commerce industry. “Broadening the ability to pay with…
The New York State Legislature and the New York Department of Financial Services (NYDFS) have both introduced new teams to help with the regulation and licensing of cryptocurrencies and crypto businesses in the state. The New York Digital Currency Task Force Six blockchain industry and cryptocurrency experts will join the New York State Digital Currency…
Since Facebook announced the white paper for its crypto project, Libra, it’s fallen under intense criticism from regulators and the public alike. Many regulators would like to put Libra to the sword due to the social media company’s checkered past with privacy and customer data. And according to a recent survey, it seems most Americans…
After getting its feet wet last week with hearings on Facebook’s forthcoming digital currency libra, the United States Congress is taking a deep dive into the Bitcoin industry. The U.S. Senate’s Banking, Housing and Urban Affairs Committee will host a hearing entitled “Examining Regulatory Frameworks for Digital Currencies and Blockchain” on July 30, 2019, at…
According to Norwegian media sources, customers of Norway-based airline conglomerate Norwegian Air will soon be able to purchase plane tickets using bitcoin. The company also reportedly has plans to open Norwegian Block Exchange (NBX), a cryptocurrency exchange specifically intended to facilitate the process. Although the use of crypto assets for plane tickets is not a…