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Crypto News Summary: Celsius Faces US Federal ‘Investigations’, IRS Puts Crypto, NFT &


Source: AdobeStock / Timon

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.
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Legal news

  • Bankrupt cryptocurrency lender Celsius Network faces US federal “investigations,” according to a filing from lawyers for its committee of unsecured creditors. “The number and extent of investigations of the debtors by governmental entities is significant: Celsius is apparently subject to enforcement proceedings or investigations in at least 40 states, in addition to investigations or inquiries involving the federal government,” the filing said.
  • Three people linked to OneCoin founder Ruja Ignatova have appeared in a German court facing charges over their alleged roles in a multibillion-dollar fraud operation. They are accused of money laundering, fraud, and banking crimes, Bloomberg reported.

Tax news

  • An early draft of the 2022 US Internal Revenue Service (IRS) tax form has cryptocurrencies, stablecoins, and non-fungible tokens (NFT) grouped under a new ‘Digital Asset’ category. It says that “if a particular asset has the characteristics of a digital asset, it will be treated as a digital asset for federal income tax purposes.“ The question must be answered by all taxpayers, not just those who engaged in a transaction involving digital assets, it added.

Payment news

  • Threat awareness platform HackNotice said that it now accepts cryptocurrency as a payment method, specifically monero (XMR) and bitcoin (BTC). “In addition to the increased security of cryptocurrency, HackNotice is adopting digital currencies as a payment method because it is easier for businesses to use,” said the CEO Steve Thomas.

Regulation news

  • The Japan Virtual and Crypto assets Exchange Association (JVCEA) plans to relax token listing for exchanges and allow exchanges to skip a lengthy screening process, Bloomberg reported. The relaxed rules could come into effect as early as December, while Vice Chairman of the JVCEA, Genki Oda, said that it could scrap pre-screenings for new coins by March 2024, as well as for tokens issued through ICOs.

Blockchain news

  • The Israeli Ministry of Finance‘s Office of the Accountant General and Tel Aviv Stock Exchange plan to test the usage of digital state bonds, assisted by Israeli startup and blockchain infrastructure company Fireblocks and multi-cloud service provider Vmware. The project is called ‘Eden’, and a joint team will perform a Proof of Concept (PoC) of the clearing of digital bonds of Israel on a new platform for the trading and clearing of digital assets, which is based on blockchain, smart contracts, and tokenization, said the announcement.

Career news

  • Former head of policy and regulatory affairs at Celsius Network Aaron Iovine has been hired as executive director for digital assets regulatory policy at US-based banking giant JPMorgan, which is a newly created role, according to a report by Bloomberg Law.
  • Marie-Anne Barbat-Layani, a former banking lobbyist, has received parliamentary approval to lead the French Financial Markets Authority (L’Autorité des marchés financiers (AMF)), Market Insider reported. Her role will include overseeing the registration of crypto firms in France.

NFT news

  • NFT gaming platform Balthazar DAO announced that it is adding Tezos (XTZ) to its list of supported blockchains to “help build the future of Web3 gaming through Balthazar’s newly released infrastructure product, Babylon,” said an announcement. This follows recent funding by the Tezos Foundation.

Investment news

  • Green Asset Capital is launching four investment funds focused on sustainable, early- and growth-stage investments within the FinTech, crypto, blockchain, DeFi, NFT, Web3, and metaverse verticals, said the press release. Green Asset Capital is a global digital assets investment group with BTC 40,000 and ETH 200,000 under management, totaling over $1 billion at today’s exchange rates, it added.
  • Kora announced an investment from the Tezos Foundation, as well as its use of the Tezos blockchain to power its app. The Kora app rewards climate-positive actions and helps individuals, companies, and organizations measure and reduce their carbon footprint, said the press release. Users earn Koras for actions that reduce their carbon footprint such as biking, switching to renewable energies, or taking public transportation.
  • Shardeum, an Ethereum Virtual Machine (EVM)-based sharded blockchain, announced $18.2 million in the blockchain’s first seed round funding, which included over 50 investors, such as Jane Street, Struck Crypto, The Spartan Group, Big Brain Holdings, DFG, Ghaf Capital Partners, and Foresight Ventures. Per an announcement, the funds will go towards ramping up the company’s research and marketing efforts, as well as growing the development team to enhance its sharding technology and ecosystem, with special attention on product and design development.



Read More: Crypto News Summary: Celsius Faces US Federal ‘Investigations’, IRS Puts Crypto, NFT &

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