The new rules would make crypto income from exchanges outside Brazil taxable at the same rate as local income.

Wally Adeyemo cited a recent settlement with crypto exchange Binance and sanctions against crypto mixer Sinbad in calling for an expansion of the U.S. Treasury’s authority.

The approval followed a similar move by regulators in Singapore, where Paxos said its local entity would launch a U.S. dollar-backed stablecoin.

Shrem made a fortune off his Bitcoin payment service, BitInstant, but then went to prison for alleged money laundering.

The government department has previously imposed sanctions on crypto mixers Blender and Tornado Cash despite many in the space pushing back on actions against software tools.

His Majesty’s Revenue and Customs has issued a warning to crypto, NFT and utility tokenholders about paying their taxes on time or facing the consequences.

SiBAN president Obinna Iwuno stressed the necessity of establishing a forward-thinking regulatory framework to accelerate the infusion of blockchain technology into diverse sectors of the economy.

The proposal came as a part of a restructuring offer from the embattled Thai crypto exchange, which owes its customers $97 million.

According to the Philippines SEC, entities involved in promoting or trading on Binance could face up to 21 years of imprisonment and $90,000 in penalties.

The SEC’s delays on two spot Bitcoin ETFs could mean it’s lining up to approve all pending applications in one swoop, say analysts.