Tag: News

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Topps Navigates Web3 Hurdles: Shifts to Fortress Amid Regulatory Challenges in NFT Expansion

January 26, 2024

This week the collectibles and candy company Topps communicated with its customers regarding its non-fungible token (NFT) initiatives. The company acknowledged encountering challenges with a payment service provider in January 2023, leading to a transition to a new provider, Fortress, in September. Nevertheless, regulatory constraints have resulted in the unavailability of custodial wallets for collectors…
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Samourai Wallet, Strike and Others Ask FinCEN to Withdraw Proposed Rules Tied to Crypto Mixing

January 25, 2024

Samourai Wallet, River, Strike, Swan, and other companies in the cryptocurrency space have sent a letter to the Financial Crimes Enforcement Network (FinCEN), commenting on the proposed rules over mixing transactions introduced in October. These companies are asking FinCEN to withdraw its proposal because it considers it inadequate for many reasons, criticizing it for being…
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Crypto-Linked Violations Rack Up $2.8B in SEC Fines in 2023

January 25, 2024

A Cornerstone Research report published Wednesday showed that crypto fines against digital asset market participants hit $2.89b by the end of 2023. That’s an 11% jump from the $2.6b in fines imposed through 2022. The findings show that as the crypto market grows, so does the SEC’s role in protecting investors. Lawmakers globally, and especially in the…
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Bitcoin Price Prediction: Hits $40,000 Amid ETF Moves & IRS Update

January 25, 2024

In a market teeming with activity, Bitcoin’s latest surge to $40,000, marking a nearly 1% increase on Thursday, has investors and analysts revisiting their Bitcoin price predictions. This uptick comes amidst a flurry of significant developments: Chinese investors, spurred by stock market dynamics, are increasingly engaging with Bitcoin despite its prohibited status in the country.…
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Bitwise Leads the Way as First US Bitcoin ETF to Publicly Disclose Wallet Address

January 25, 2024

On Wednesday, Jan. 24, 2024, Bitwise, a leading digital asset manager, made a groundbreaking announcement as the first U.S. spot bitcoin exchange-traded fund (ETF) to reveal its bitcoin wallet address. Emphasizing its commitment to transparency, Bitwise stated, “proud to walk the walk with BITB,” and affirmed that “onchain transparency is core to Bitcoin’s ethos.” Bitwise…
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Solana Blockchain Introduces’ Token Extensions’ Allowing More Programmable Rules for Tokens

January 25, 2024

Solana Blockchain has unveiled “token extensions” as part of the Solana Network’s SPL token evolution. Token extensions represent a new standard for SPL tokens, offering enhanced functionalities comparable to Ethereum’s ERC-20 token standard. In a press release on January 24, the Solana Foundation announced the launch of token extensions, specifically designed “to cater to builders…
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South Korean ‘Crypto Drug Dealer’ Jailed for 7 Years

January 25, 2024

A South Korean court has sent a drug dealer who sold narcotics to crypto-paying “customers” to jail for seven years. Per the news agency Yonhap, the Criminal Division of the Busan District Court also ordered the unnamed individual – referred to by the media as “A” – to pay a fine of over $9,000. The…
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GBTC Sees Over 80,000 Bitcoin Leave in 12 Days While Rival ETFs Amass 118,000 BTC

January 25, 2024

Statistics reveal that Grayscale’s Bitcoin Trust (GBTC) has offloaded a further quantity of bitcoin, with the fund’s holdings decreasing from Tuesday’s 552,681.22 bitcoin to Wednesday’s total of 536,694.93 bitcoin. Over the last day, the fund experienced an outflow of 15,986.29 bitcoin, as per data from the official website. Grayscale’s Bitcoin Trust Reduces Holdings by Over…
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Arkham Reveals Onchain Addresses Linked to 4 Major Bitcoin ETFs, Boosting Market Transparency

January 24, 2024

On Jan. 23, Arkham, a firm specializing in onchain intelligence, announced the identification of four lists of connected addresses linked to four new spot bitcoin exchange-traded funds (ETFs). These groups of addresses are reportedly associated with fund managers including Blackrock, Fidelity, Bitwise, and Franklin Templeton. 4 ETFs Identified Onchain According to an X post by…
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US IRS Reminds Taxpayers to Report all Crypto-Related Income

January 24, 2024

Source:Adobe The US Internal Revenue Service (IRS) has issued a reminder to all taxpayers to report any crypto-related income. The tax regulator has included a digital asset question on 2023 tax return Form 1040. The question asks taxpayers to report cryptos received in 2023 as a reward, award or payment for property or services. “Everyone…
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