NewsRoom Articles - Page 17 of 170

FridayJul 12, 2024 9:00 am

German Government’s $2B in BTC Holdings Making Investors Jittery

For the past few weeks, the government of Germany has been offloading a significant amount of Bitcoin, contributing to the crypto’s recent downturn. In June, the Federal Criminal Police Office (BKA) started selling Bitcoin, originally seized from a defunct movie piracy website, from a wallet they control. The BKA sold 900 Bitcoins last month, valued at around $52 million. Additionally, last week, the government sold 3,000 Bitcoins worth approximately $172 million, and just this Monday, another 2,739 Bitcoins were sold for about $155 million. The German government has been transferring its Bitcoin holdings to various exchanges such as Bitstamp, Kraken…

WednesdayJul 10, 2024 9:00 am

Court Rules That BNB Sales, Cryptos Aren’t Securities in SEC Case Against Binance

Judge Amy Berman Jackson of the U.S. District Court for the District of Columbia recently ruled that secondary BNB sales and crypto are not securities offerings. This ruling marks a notable victory for Binance.US as several claims from the U.S. Securities and Exchange Commission (SEC) were dismissed, according to Binance’s announcement on July 2, 2024. Binance stated, “The court found that the SEC did not prove that buyers in secondary market sales obtained BNB with an anticipation of gain, which is necessary for meeting the Howey test criteria.” The Howey test, established by the Supreme Court, is used to decide…

MondayJul 08, 2024 9:00 am

Sony to Open Crypto Business in Japan

The world of cryptocurrency has been buzzing with activity, and several major companies have joined this digital gold rush. One of the most recent entrants is Sony, the renowned Japanese conglomerate, which has taken a significant step through its acquisition of Amber Japan, a notable cryptocurrency company. This acquisition marks Sony’s official entry into the cryptocurrency exchange market. Initially, the crypto company was known as DeCurret, a Japanese exchange. It was acquired in 2022 by Amber Group’s Japanese arm. Later, in August 2023, Quetta Web Co., a Sony subsidiary, took over the platform. Amber Group had earlier announced a shift…

FridayJul 05, 2024 9:00 am

New IRS Rule Against Tax Evasion Requires Crypto Companies to Reveal Trade Information

The U.S. Treasury Department has announced a new requirement for most crypto brokers to report user transaction proceeds to the Internal Revenue Service (IRS) starting in two years. The measure, aimed at preventing tax evasion in the cryptocurrency market, was revealed through an IRS statement on June 28, 2024. Beginning in 2026, payment processors and crypto exchanges, including platforms such as Coinbase, will be mandated to share information on user trades and sales with the IRS. This includes, in certain cases, stablecoins such as Circle’s USDC and Ether (USDT), as well as high-value NFTs. However, the IRS remains undecided on…

WednesdayJul 03, 2024 9:00 am

FBI Alerts Public About Phony Entities Promising to Redeem Lost Crypto

The FBI recently released a warning about a new tactic that scammers are using to further deceive victims of crypto fraud. According to the agency, these fraudsters are pretending to be lawyers from nonexistent law companies. They contact victims through messaging apps and social media, offering services to help recover their lost funds, with the real aim of swindling more funds or personal information from them. According to the FBI’s warning, the con artists frequently assert that they are approved by the Consumer Financial Protection Bureau (CFPB), the FBI or other governmental organizations. Victims find these fake lawyers through fraudulent…

MondayJul 01, 2024 9:00 am

EU Bans Cryptocurrency Providers Working with Defense-Industrial Complex in Russia

European legislators have approved a 14th set of sanctions aimed at key sectors within the Russian economy, such as trade, finance and energy. These sanctions are intended to make it significantly harder to bypass existing European Union (EU) restrictions. In a press release dated June 24, 2024, the EU Council announced that the recent package includes restrictive measures against an additional 116 individuals and entities allegedly responsible for activities that compromise or jeopardize the independence, sovereignty and territorial integrity of Ukraine. According to a Reuters report, with this latest addition, the sanctions list now encompasses more than 2,200 entities. To…

FridayJun 28, 2024 9:00 am

Winklevoss Twins Give Trump Campaign $2M for His Crypto-Friendly Stance

Prominent crypto figures, the Winklevoss twins, have each donated $1 million in Bitcoin to Donald Trump’s presidential campaign. They have pledged their support for Trump in the upcoming November election, citing their belief that the Biden administration is hostile toward cryptocurrency. Cameron Winklevoss expressed his support on X, praising Donald Trump as a probusiness, procrypto, and pro-Bitcoin candidate who would put an end to the Biden administration’s crackdown on cryptocurrency. Additionally, Tyler Winklevoss shared a long critique of President Joe Biden’s crypto policies and regulations. “We need to take back our nation,” he declared. “Washington needs to hear from the…

ThursdayJun 27, 2024 7:54 pm

Proof of Talk Conference Showcases Web3’s Bright Future in Traditional Finance

Paris, June 27, 2024 — Proof of Talk, the conference heralded as the Davos of Web3, has confirmed its status as the pre-eminent event where leaders from decentralized and traditional finance unite to discuss how to shape Web3’s future. Held at the iconic Museum of Decorative Arts in the Louvre Palace in Paris, the sold-out two-day conference brought together over 2500 ecosystem players on 10-11 June. These included executives and leaders from Franklin Templeton, MultiversX, Flow Traders, KKR, Polkadot, Solana Foundation, Galaxy Digital, Rhuna, Softbank Vision Fund, Layerzero, and Pantera. The summit took on all aspects of Web3, from fashion and lifestyle to…

WednesdayJun 26, 2024 9:00 am

StanChart to Open BTC, ETH Trading Desk

StanChart is set to launch a spot crypto trading platform for Ethereum and Bitcoin, according to sources cited by Bloomberg. The multinational financial institution intends to launch a spot crypto trading desk that will oversee Ethereum (ETH) and Bitcoin (BTC) transactions. The move is anticipated to serve the growing number of institutional clients that are interested in Ether and Bitcoin, and will function under the bank’s foreign exchange (FX) unit. StanChart mentioned in an email to Bloomberg that it has been collaborating closely with regulators to meet the demands of institutional clients for trading Ethereum and Bitcoin. The action aligns…

MondayJun 24, 2024 9:00 am

Consensys Reveals SEC Ending Investigation of Ether

The U.S. Securities and Exchange Commission (SEC) is ending its investigation into whether Ether should be classified as a security. On June 19, 2024, Ether developer ConsenSys shared on social media that the commission’s Enforcement Division has closed its probe into Ether 2.0. This decision implies that the commission will not pursue any legal actions that would categorize Ether transactions as securities deals. ConsenSys celebrated this development as a significant victory for the Ethereum community, including technology providers, developersand other stakeholders. The decision from the SEC follows a letter sent by ConsenSys on June 7, requesting closure of the investigation.…