Author: Crypto Insider

Patrick McHenry suggested that the hearings will look to add to the regulatory efforts being done on the bipartisan bill led by Senator Cynthia Lummis and Senator Kirsten Gillibrand. Patrick McHenry, the Chairman of the House Financial Services Committee, has announced a series of joint hearings in May that will focus on addressing the market…

Mastercard’s new solution revolves around providing “secure transactions between users, verified according to standards” set by the company. Global financial services giant Mastercard has launched a new Web3 solution aimed at enhancing user verification standards and “reducing the opportunities for bad actors” in the digital asset space. The solution is dubbed the “Mastercard Crypto Credential”…

Cooper Morgenthau embezzled $5 million from three different companies and lost almost all of it trading cryptocurrencies and “meme stocks.” The former CFO of a special purpose acquisition company (SPAC) was sentenced to three years in prison after embezzling $5 million that was used to trade cryptocurrencies and “meme stocks.” An April 27 press release from the…

The proposed regulatory changes seek to simplify how DeFi returns are taxed and reduce the “administrative burden” for taxpayers. The tax treatment of lending and borrowing on decentralized finance (DeFi) protocols could soon be changed in the United Kingdom as the taxation arm of the Treasury is seeking input on a possible new regime. An…

Phantom Wallet CEO Brandon Millman argues airdrops may not be worth the hype and self-custody wallets are not off the hook regarding regulation. Wallets have always been a key topic in the cryptocurrency industry because of their essential role in adoption. As the crypto world evolves and enters the multichain phase, wallets may need to…

The new layer relies on Bundlr, a decentralized storage platform built on Arweave, for mass storage of social media data. The team behind Lens, a Web3 social media protocol, has announced the launch of a new “layer 3” network to scale blockchain social media apps. Called “Bonzai,” the new network processes and stores posts, comments…