Coinbase to face lawsuit over unregistered securities sales, judge rules
Coinbase, one of the leading cryptocurrency exchanges, recently received a favorable ruling in a legal battle against the United States Internal Revenue Service (IRS). The case, which has been ongoing since 2016, centers around the IRS’s request for Coinbase to hand over customer information in order to investigate potential tax evasion.
In a recent development, a judge has narrowed the scope of discovery in the case, which Coinbase sees as a positive step towards vindicating their remaining claims. The company released a statement expressing their satisfaction with the ruling and their determination to continue fighting for their customers’ privacy.
The dispute between Coinbase and the IRS began when the agency requested information on all customers who conducted transactions worth more than $20,000 between 2013 and 2015. Coinbase initially resisted the request, citing concerns over customer privacy and the broad scope of the request. However, in 2017, the company was ordered to hand over information on approximately 13,000 customers.
Since then, Coinbase has been fighting to protect the privacy of its customers and limit the scope of the IRS’s request. The recent ruling by the judge is a step in the right direction for the company, as it narrows the amount of information they are required to provide.
This case has significant implications for the cryptocurrency industry as a whole, as it raises questions about the privacy and regulation of digital assets. Many in the industry see this as a crucial moment in the fight for the protection of customer data and the recognition of cryptocurrencies as legitimate financial assets.
Coinbase’s determination to continue fighting for their customers’ privacy is commendable and highlights the company’s commitment to upholding ethical standards in the industry. As the case moves forward, all eyes will be on the outcome and its potential impact on the future of cryptocurrency regulation.
Bitcoin could reach new highs in Q1 despite sluggish jobs print: Grayscale Research
The market has already priced in less accommodating interest rate policy, and legislative tailwinds could aid Bitcoin’s performance.
SEC seeks more time to mull options on Ethereum ETFs
In a major development for the cryptocurrency market, the United States regulators have given the green light for the trading of options on Bitcoin ETFs starting in 2024. This decision marks a significant step towards mainstream adoption of Bitcoin and other digital assets.
The approval was granted by the Securities and Exchange Commission (SEC), the regulatory body responsible for overseeing the US securities market. This move comes after years of debate and speculation about the potential for Bitcoin ETFs to be introduced in the US market.
For those unfamiliar, an ETF (Exchange-Traded Fund) is a type of investment vehicle that tracks the performance of a particular asset or group of assets. In the case of Bitcoin ETFs, this means that investors can buy and sell shares of the fund, which in turn represents ownership of a certain amount of Bitcoin.
The introduction of options trading for Bitcoin ETFs is a significant development for the cryptocurrency market. It provides investors with more flexibility and risk management strategies, as options allow for the buying and selling of contracts that give the holder the right, but not the obligation, to buy or sell an asset at a predetermined price in the future.
This news has been met with excitement and optimism from the cryptocurrency community, as it opens up new opportunities for investors and further legitimizes Bitcoin as a viable asset class. With the growing interest and acceptance of Bitcoin and other cryptocurrencies, the introduction of options trading for Bitcoin ETFs is a clear indication of the increasing mainstream adoption of digital assets.
While the approval for options trading on Bitcoin ETFs may not take effect until 2024, it is a significant step towards the continued growth and development of the cryptocurrency market. As more and more traditional financial institutions and regulators embrace digital assets, the future looks bright for Bitcoin and the wider cryptocurrency industry.
US lawmakers propose stablecoin bill to boost dollar dominance
The House Financial Services Committee, led by Chairman French Hill, has announced plans to collaborate with the Trump administration in providing a new form of digital currency for Americans. This innovative currency, known as a stablecoin, will be backed by the US dollar, providing a secure and reliable option for individuals to transact with.
In recent years, the rise of cryptocurrencies has sparked both excitement and concern among the public. While these digital currencies offer potential benefits such as decentralization and faster transactions, their volatility and lack of government backing have raised doubts about their long-term stability. This is where stablecoins come in, offering the best of both worlds by combining the benefits of cryptocurrencies with the stability of traditional fiat currencies.
Chairman Hill and his committee recognize the potential of stablecoins to revolutionize the way we transact and conduct business. By working with the Trump administration, they aim to create a dollar-backed stablecoin that will provide a secure and reliable alternative to traditional forms of currency. This will not only benefit individuals, but also businesses and the overall economy.
The use of stablecoins can also have a positive impact on financial inclusion, as it provides a more accessible and affordable option for those who may not have access to traditional banking services. This can help bridge the gap between the unbanked and the financial system, promoting economic growth and stability.
The House Financial Services Committee’s commitment to exploring and implementing stablecoins demonstrates their forward-thinking approach to financial innovation. By embracing new technologies and working with the government, they are paving the way for a more efficient and inclusive financial system.
In conclusion, the collaboration between the House Financial Services Committee and the Trump administration to deliver dollar-backed stablecoins is a promising development for the future of digital currencies. With their potential to provide stability, accessibility, and efficiency, stablecoins have the potential to transform the way we transact and conduct business.
Ondo Finance unveils layer-1 blockchain for institutions to tokenize RWAs
Introducing Ondo Finance’s latest innovation, the “Ondo Chain” – a revolutionary platform designed to cater to the growing demand for tokenization of real-world assets. With this new technology, institutions can easily tokenize their assets and unlock their true value, while also providing opportunities for individuals to launch tokens and build applications on the network.
The Ondo Chain is set to disrupt the traditional financial system by offering a decentralized and transparent solution for asset tokenization. This means that assets such as real estate, commodities, and even artwork can be easily converted into digital tokens, making them more accessible and liquid. This opens up a whole new world of possibilities for investors, as they can now diversify their portfolios and invest in a wider range of assets.
But what sets the Ondo Chain apart from other tokenization platforms? For starters, it boasts a highly secure and efficient blockchain infrastructure, ensuring that all transactions are fast, reliable, and tamper-proof. Additionally, the platform is designed to be user-friendly, making it accessible to both institutions and individuals alike. This means that anyone can launch tokens and build applications on the network, democratizing the tokenization process and promoting financial inclusion.
Moreover, the Ondo Chain is backed by a team of experts with years of experience in the blockchain and finance industries. They have carefully crafted the platform to meet the needs of institutions and individuals, ensuring that it is scalable, adaptable, and future-proof.
So whether you’re an institution looking to tokenize your assets or an individual looking to invest in a diverse range of assets, the Ondo Chain has got you covered. Join the tokenization revolution and unlock the true potential of your assets with Ondo Finance’s Ondo Chain.
Canadian who tried to hide 450 Bitcoin from feds gets more prison time
Firoz Patel, the founder of a popular crypto app, has been sentenced to three and a half years in a US prison for his involvement in money laundering. This news has sent shockwaves through the cryptocurrency community, as Patel was once seen as a pioneer in the industry.
Patel’s downfall began when he was caught hiding 450 Bitcoin, worth millions of dollars, in an attempt to conceal his illegal activities. The court found him guilty of using his crypto app to facilitate money laundering and other illegal transactions. Despite his claims of innocence, the evidence against him was overwhelming and he was ultimately sentenced to prison.
This case serves as a cautionary tale for those involved in the cryptocurrency world. While the technology behind it may be revolutionary, it is still subject to the same laws and regulations as any other financial system. Patel’s actions not only tarnished his own reputation, but also brought negative attention to the entire crypto industry.
Many are left wondering how someone who was once seen as a leader in the field could fall so far. Some speculate that Patel’s greed and desire for quick profits clouded his judgement, leading him down a dangerous path. Others believe that the lack of regulation in the crypto world allowed him to operate unchecked for too long.
Regardless of the reasons behind Patel’s actions, his sentence serves as a reminder that illegal activities will not be tolerated, even in the world of cryptocurrency. As the industry continues to grow and gain mainstream acceptance, it is crucial for individuals and companies to operate ethically and within the boundaries of the law.
In the end, Patel’s downfall serves as a cautionary tale for all involved in the crypto world. It is a reminder that with great power comes great responsibility, and that those who choose to operate outside of the law will ultimately face the consequences. Let this be a lesson to us all as we continue to navigate the ever-evolving landscape of cryptocurrency.
Tornado Cash dev gets Dutch court nod to leave prison amid appeal
Meet Alexei Pertsev, a Russian businessman who has been making headlines for his involvement in a high-profile money laundering case. In May 2024, a Dutch court found Pertsev guilty and sentenced him to five years and four months in prison. However, Pertsev is not giving up without a fight and has been working tirelessly on his appeal.
Pertsev’s story is one of ambition, wealth, and controversy. Born and raised in Russia, he quickly rose to prominence in the business world, amassing a fortune through his various ventures. However, his success was not without its fair share of legal troubles. In 2022, Pertsev was arrested in the Netherlands on charges of money laundering, which ultimately led to his conviction in 2024.
The case against Pertsev has been closely followed by the media, with many speculating about his involvement in the illegal activities. Some have even dubbed him as the “mastermind” behind the money laundering scheme. However, Pertsev maintains his innocence and is determined to clear his name.
Despite the daunting sentence, Pertsev remains optimistic and determined to fight for his freedom. He has been working closely with his legal team to build a strong case for his appeal. With his vast resources and connections, Pertsev is leaving no stone unturned in his pursuit of justice.
The outcome of Pertsev’s appeal remains uncertain, but one thing is for sure – this is a story that will continue to captivate the public’s attention. Will Pertsev be able to overturn his conviction and regain his freedom? Only time will tell. But one thing is certain – Alexei Pertsev is not one to back down from a challenge.
CME crypto volumes hit all-time high in January: CCData
The world of finance has been buzzing with excitement as Bitcoin futures trading takes center stage on Wall Street’s most popular derivatives exchange. According to recent data, this emerging market has quickly become the top choice for traders looking to capitalize on the volatile nature of the cryptocurrency market.
With its introduction in 2017, Bitcoin futures trading has gained immense popularity among investors and traders alike. This innovative financial instrument allows individuals to speculate on the future price of Bitcoin, without actually owning the underlying asset. This means that traders can profit from both upward and downward movements in the price of Bitcoin, making it a highly versatile and attractive option.
The data speaks for itself, as Bitcoin futures trading has dominated the derivatives market on Wall Street. This is a clear indication of the growing interest and confidence in the cryptocurrency market, as more and more traditional financial institutions are embracing this new asset class.
One of the key advantages of Bitcoin futures trading is its ability to provide a level playing field for both institutional and retail investors. This means that anyone with access to the exchange can participate in this market, regardless of their financial status or experience. This democratization of trading has opened up new opportunities for individuals to diversify their investment portfolios and potentially earn significant profits.
Moreover, Bitcoin futures trading offers a high level of liquidity, allowing traders to enter and exit positions quickly and easily. This is crucial in a market as volatile as cryptocurrency, where prices can fluctuate rapidly. With Bitcoin futures, traders can take advantage of these price movements and potentially earn profits in a matter of minutes.
In conclusion, Bitcoin futures trading has revolutionized the way we think about investing and has become a major player in the world of finance. With its growing popularity and potential for high returns, it’s no surprise that this market has captured the attention of Wall Street and traders around the world.
Bitcoin enjoys 'plenty' of demand at $98K as analyst eyes RSI breakout
Despite the recent dip in Bitcoin’s price, many experts and investors remain optimistic about the future of the world’s largest cryptocurrency. While it may not have reached the coveted six-figure mark just yet, there are still plenty of reasons to believe that Bitcoin will continue to rise in value.
One of the main factors driving this optimism is the increasing adoption of Bitcoin by major companies and institutions. In recent months, we have seen major players like Tesla, Square, and MicroStrategy invest billions of dollars into Bitcoin, signaling a growing acceptance and recognition of its value. This trend is expected to continue as more companies and institutions realize the potential of Bitcoin as a store of value and a hedge against inflation.
Another reason for optimism is the limited supply of Bitcoin. With only 21 million coins in existence, Bitcoin is a scarce asset that becomes more valuable as demand increases. This scarcity is further reinforced by the halving events that occur every four years, reducing the rate at which new Bitcoins are created. As more people become interested in Bitcoin, the limited supply will only drive up its price.
Furthermore, the current economic climate is also favorable for Bitcoin. With governments around the world printing trillions of dollars in stimulus money, many investors are turning to Bitcoin as a hedge against inflation and a way to preserve their wealth. This trend is expected to continue as the global economy continues to face uncertainty and volatility.
While it may be frustrating for some to see Bitcoin’s price remain below the six-figure mark, it’s important to remember that the cryptocurrency market is still relatively young and volatile. Price fluctuations are to be expected, but the long-term outlook for Bitcoin remains positive. As more people and institutions recognize its value and the global economy continues to face challenges, Bitcoin is likely to continue its upward trajectory. So, while we may not see six-figure Bitcoin just yet, the future looks bright for this revolutionary digital asset.
Solana app revenues up 213% in Q4: Messari
According to a recent report, the total revenue generated by mobile apps reached its highest point in November, reaching a staggering $367 million. This is a significant increase from previous months and shows the growing popularity and profitability of the app market.
The report also revealed that the majority of this revenue came from in-app purchases, with users spending money on various features and upgrades within the apps. This highlights the importance of creating a user-friendly and engaging app that encourages users to spend money.
One of the key factors contributing to this surge in app revenue is the increasing number of smartphone users worldwide. With more and more people relying on their phones for daily tasks and entertainment, the demand for innovative and useful apps is constantly growing.
In addition, the COVID-19 pandemic has also played a role in the rise of app revenue. With people spending more time at home and relying on technology for work and leisure, the demand for apps has increased significantly. This has created a unique opportunity for app developers to capitalize on the growing market and generate substantial profits.
However, with the increasing competition in the app market, it is crucial for developers to constantly innovate and improve their apps to stay ahead of the game. This includes regularly updating and adding new features, as well as ensuring a seamless user experience.
In conclusion, the app market continues to thrive and generate impressive revenue, making it a lucrative industry for developers and investors. As technology continues to advance and the demand for apps grows, we can expect to see even higher revenue numbers in the future. So, if you have a great app idea, now is the time to turn it into a reality and tap into the potential of this booming market.