Category: crypto

A Texas federal court dismissed a lawsuit filed by crypto developer Michael Lewellen seeking protection from US money-transmission laws for his software. The court referenced a DOJ memo stating developers are not targeted for user actions. Coin Center urges Congress to pass a bill clarifying exemptions for non-custodial developers.

The UK government is implementing a temporary ban on political donations made through cryptocurrencies due to concerns about foreign interference in British politics. The ban will remain until stronger safeguards are approved by Parliament and the Electoral Commission. The move follows a review of foreign financial interference and aims to protect the political system.

Former MoneyGram CEO Alex Holmes has been named the new CEO of Bitcoin Depot as the crypto ATM operator faces regulatory pressure in the US. The company’s previous CEO, Scott Buchanan, stepped down after less than three months. Bitcoin Depot is under scrutiny in multiple states for alleged excessive fees and weak compliance controls. Holmes…

The Reserve Bank of Australia is considering real-world asset tokenization as part of its market strategy, estimating potential annual gains of $24 billion for the financial system. Project Acacia aims to improve market efficiency and infrastructure. RBA plans to test tokenized assets and CBDC integration in a sandbox environment.

Swan Bitcoin requested permission from a New York court to subpoena Cantor Fitzgerald and its former CEO, Howard Lutnick, in a legal battle over a failed Bitcoin mining project. The filing seeks documents related to Swan’s unsuccessful mining venture with Tether and former employees. Former employees deny allegations and dispute ownership claims.

US lawmakers are introducing the PREDICT Act to prevent top federal officials and their families from trading on government-related prediction markets, amid concerns about insider trading on sensitive events like war and policy decisions. Separate bills are also targeting sports contracts in response to growing pressure on prediction market platforms nationwide.

Coinbase is putting pressure on the Senate to revise language in a stablecoin yield compromise, which could prevent exchanges from paying rewards on stablecoin balances. Banking groups are concerned that this could draw deposits away from banks. Lawmakers and the White House are working to find a compromise as pressure mounts to move the bill…

Bo Shen has reopened efforts to recover $42 million in crypto stolen from his personal wallet in 2022. He is offering a recovery bounty of 10-20% to individuals or organizations who help recover the assets. Investigators have already frozen $1.2 million in stolen crypto, and new tracing tools have revived recovery efforts.

Bitcoin mining margins are being squeezed due to lower revenue and higher operating costs, with some operators becoming unprofitable. Older mining machines and higher power costs are facing the most pressure. The global mining fleet now sits below profitability, with hash prices dropping. Hashrate Index shows some relief, but stress remains if Bitcoin prices stay…

Circle reversed part of its recent USDC enforcement action by restoring access to one of the 16 frozen wallets, easing criticism. The wallet linked to Goated.com held about 130,966 USDC after access was restored. Questions remain about Circle’s process and transparency in handling the case. ZachXBT suggested that other affected wallets could be restored soon.…