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carlp • Apr 29, 2024, 2:11 pm EDT

ConsenSys Stands Up to SEC’s Regulatory Overreach with Ethereum Lawsuit

ConsenSys, a key developer of Ethereum, has initiated a lawsuit against the U.S. Securities and Exchange Commission (SEC), contesting what it describes as an “unlawful seizure of authority” over Ethereum. This move by ConsenSys comes amidst a broader assertion by the SEC that the company’s popular MetaMask wallet operates as an unregistered securities broker. This litigation marks a critical moment for Ethereum and the broader crypto landscape, challenging the regulatory encroachments that threaten to reshape the industry’s future. Unregistered Broker Allegations and Ethereum’s Status The SEC’s contention revolves around MetaMask’s functionalities, particularly its “swap” and “stake” features, which the agency

3 minutes

arusso • Apr 25, 2024, 1:14 pm EDT

From Cash to Crypto: Australia’s Growing Bitcoin ATM Network

Australia now boasts over 1,000 active Bitcoin ATMs, ranking it third worldwide, following the U.S. and Canada in embracing the convenience of cryptocurrency transactions. A History of Crypto ATMs in Australia Australia’s market for cryptocurrency ATMs has been relatively dormant until a surge towards the end of 2022. The recent increase, driven largely by installations from private companies, including our own ByteFederal ATMs, indicates a significant shift. The growth is a testament to the burgeoning interest among Australians in cryptocurrencies as traditional fiat currencies begin to show limitations in today’s global economy. Bitcoin ATMs and a Decreasing Reliance on Cash

2 minutes

arusso • Apr 24, 2024, 10:43 am EDT

SEC Lawyers Resign After Federal Judge Criticizes Agency in Crypto Case

Two lawyers from the Securities and Exchange Commission (SEC), Michael Welsh and Joseph Watkins, have resigned following a significant reprimand from a federal judge. The judge criticized the Wall Street regulator for abuse of power concerning legal action against a cryptocurrency platform, Digital Licensing Inc. Details of the Alleged Misconduct In July, the SEC filed charges against DEBT Box and its executives, accusing them of defrauding investors out of at least $49 million. Following these charges, the court, led by Judge Shelby, agreed to the SEC’s request to freeze the company’s assets and place the firm into receivership. However, the

2 minutes

satoshin • Apr 19, 2024, 10:27 am EDT

The Bitcoin Halving is Here

The Bitcoin halving is a significant event in the world of cryptocurrency, yet it remains a mystery to many. Occurring approximately every four years—or more precisely, every 210,000 blocks—this event has profound implications on the entire Bitcoin network and its community. Here’s a straightforward breakdown of what Bitcoin halving is, why it happens, and how it might affect the Bitcoin ecosystem. What is Bitcoin Halving? The Bitcoin halving refers to the reduction of the block reward that miners receive for validating new blocks of transactions on the Bitcoin blockchain. Essentially, this is the process through which new Bitcoins are introduced

3 minutes

johnd • Apr 18, 2024, 12:24 pm EDT

House Passes FISA 702 Renewal & Looks to Expand Surveillance Powers

Instead of letting the Patriot Act expire, the way it was always intended to, it’s being expanded. The US House of Representatives has passed the renewal of Section 702 of the Foreign Intelligence Surveillance Act (FISA), embedded within the Reauthorization of the Intelligence Surveillance Act (RISAA). The bill, passed last Friday, contains what could be the most substantial expansion of domestic surveillance since the Patriot Act, according to critics like Senator Ron Wyden, who described the expanded powers as “terrifying.” Under the existing framework, electronic communications service providers such as Verizon and Google are compelled to assist the NSA in

2 minutes

arusso • Apr 15, 2024, 11:37 am EDT

Hong Kong Approves First Spot Bitcoin ETF, Signaling Global Trend in Institutional Adoption

In a significant development for the cryptocurrency market, Hong Kong’s Securities and Futures Commission (SFC) has approved the city’s first spot Bitcoin exchange-traded fund (ETF). The approval comes just four months after the SFC received it’s first application for a spot Bitcoin ETF. This milestone, managed by China Asset Management (Hong Kong) in collaboration with OSL Digital Securities and BOC International Prudential Trusteeship, marks a major advancement in the accessibility of digital assets for institutional investors in Asia. The approval of these spot Bitcoin ETFs by the SFC not only underscores Hong Kong’s commitment to positioning itself as a leading

2 minutes

arusso • Apr 9, 2024, 2:45 pm EDT

Tokyo: Metaplanet Inc. Adopts Bitcoin as Core Treasury Asset

Metaplanet Inc., a public company listed on the Tokyo Stock Exchange under ticker TYO:3350, has announced a significant shift in its financial strategy by adopting Bitcoin as its core treasury asset. This strategy, involving an initial investment of JPY 1 billion in Bitcoin, is not just an exploration into digital assets but also a step towards integrating finance and innovation at a fundamental level. This decision positions Metaplanet Inc. as the first company in Asia to adopt a strategy similar to Microstrategy’s approach in the United States, emphasizing Bitcoin as a primary corporate asset. This initiative is especially important for

2 minutes

satoshin • Apr 8, 2024, 10:50 am EDT

Louisiana State Legislature Unanimously Approves Bitcoin Rights Bill

Louisiana has officially become the 11th state to adopt groundbreaking legislation that significantly bolsters the rights of Bitcoin users, marking a notable trend in state-level pro-Bitcoin legislation. The bill, unanimously passed with a 103-0 vote in the State House of Representatives, was sponsored by Louisiana State Representative Mark Wright. Dennis Porter, CEO of the Satoshi Action Fund, lauded the bill as a testament to Bitcoin’s rising importance. “This landmark bill led by Mark Wright is indicative of the growing recognition of Bitcoin’s significance in today’s digital economy,” Porter noted. Central to this legislation is the guaranteed freedom for individuals to

2 minutes

jennyl • Apr 3, 2024, 10:45 am EDT

Byte Federal Launches Point of Sale System for Merchants seeking to accept Bitcoin

Byte Federal, a leading company in the global financial technologies space, is proud to announce the official launch of its point of sale (POS) system, ByteConnect. This product launch marks a significant expansion of Byte Federal’s “fintech focused” services, showcasing a commitment to building a full suite of financial tools for economic freedom. Lennart Lopin, Byte Federal co-founder and CTO, expressed the vision behind the innovation: “Sound money is essential for creators and inventors, driving societal progress. We’re excited to introduce Bitcoin to the world, a significant innovation that fosters freedom and encourages creativity among global communities.” Lennart Lopin After a

2 minutes

arusso • Apr 2, 2024, 1:24 pm EDT

KuCoin Faces Legal Challenges Over Anti-Money Laundering Violations

Federal prosecutors in Manhattan have brought charges against KuCoin. The exchange, one of the largest in the global cryptocurrency market, is accused of contravening U.S. anti-money laundering regulations. Charges by Federal Prosecutors On Tuesday, authorities charged KuCoin for its alleged failure to adhere to U.S. anti-money laundering laws. Since its establishment in 2017, the exchange is accused of enabling the transfer of billions of dollars in illicit funds without conducting necessary customer background checks. This lapse has led to significant legal repercussions for the company and its founders. Chun Gan and Ke Tang the Chinese nationals who co-founded KuCoin, have

2 minutes