Users of mobile payments service Venmo will soon be able to buy cryptocurrencies and send them to other Venmo users or external wallets beginning in May, according to an April 28 announcement from PayPal executive Jose Fernandez da Ponte. PayPal is the parent company of Venmo. Dropping in to announce…

Venmo users will soon be able to transfer cryptocurrency, the payment app’s parent company PayPal said on April 28. That announcement revealed that users will be able to transfer funds to Venmo and PayPal accounts as well as third-party wallets and exchanges beginning in May. Separate documentation additionally suggests that…

Bank regulators in the United States have turned from introspection to confession after the high-profile bank failures in March. The New York Department of Financial Services (NYDFS) published its internal review of Signature Bank supervision on April 28, the same day the U.S. Federal Reserve Board released its review of…

The U.S. Federal Deposit Insurance Corporation (FDIC) investigation into the collapse of Signature Bank found that the root cause of its troubles was “poor management” and risky crypto deposits. The FDIC released its comprehensive report on Signature Bank and the reasons that led to its failure on April 28. The…

Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week. The taxation arm of His Majesty’s Treasury in the United Kingdom has proposed new regulatory changes to simplify how DeFi returns are…

The U.S. Securities and Exchange Commission (SEC) imposed cease-and-desist orders and fines upon three parties involved in UpToken on April 28. SEC names parties involved in UpToken ICO The SEC said that Up Global and Coinme — as well as Neil Bergquist, founder and CEO of both companies — were…

At the intersection of tech and cryptocurrency news, the Google for Startups Cloud Program has expanded to include 11 blockchain firms. Together, the entities will provide grants, expertise and services to emerging Web3 entrepreneurs. Meanwhile, the United Kingdom government has allocated $125 million in funding for a task force aimed at…

Former Coinbase CTO Balaji Srinivasan believes there is a “very high” chance that sovereign defaults will happen within months, which will cause Bitcoin’s price to skyrocket. He was clarifying comments he made about when a potential fiat crisis will take place during his talk at Consensus 2023, which the community…

Researchers at Indiana University and the University of Maine recently published a study examining the current state of cryptocurrency tax law in the United States. The research concludes with recommendations for the Internal Revenue Service (IRS) that, if adopted, would prevent taxpayers from weighing crypto losses against other capital gains.…

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