Significant concerns have been raised about the future of financial autonomy, as the United Kingdom appears to be tightening its grip on cryptocurrency transactions, particularly those involving self-custodial wallets. Kraken, a leading cryptocurrency exchange, has been compelled to inquire into its UK users’ self-custodial wallet activities, citing unspecified local regulations. Kraken’s Unprecedented Request to UK Users Kraken’s recent directive to its UK clientele to verify their self-custodial wallets or validate their identities marks a departure from the traditional ethos of cryptocurrency, which values privacy and user autonomy. This development, first highlighted by Kraken’s UK user James Van Straten, signifies a

The U.S. Internal Revenue Service (IRS) has postponed the enforcement of reporting cryptocurrency transactions exceeding $10,000 for U.S. businesses. This delay follows a meticulous revision of the Infrastructure Investment and Jobs Act (IIJ Act) by the U.S. Treasury Department and the IRS. Initially set for January 1, these rules faced considerable criticism from the bitcoin and cryptocurrency communities, triggering legal challenges like the ongoing lawsuit by Coin Center against the Treasury Department. Traversing Regulatory Challenges in Cryptocurrency Reporting While the postponement provides temporary relief, businesses still have the obligation to comply with reporting requirements. However, the IRS has yet to