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Kraken, the San Francisco-headquartered digital currency exchange, has received a court order from a U.S. judge requiring the release of customer data to the Internal Revenue Service (IRS). The court filing, submitted on Friday, states that the IRS is seeking details pertaining to accounts that registered an annual trading activity of $20,000 or higher during the years 2016 to 2020. IRS Gains Court Order for Kraken’s Customer Data in Crypto Tax Investigation Last February, the IRS submitted a court petition to the Northern District of California, outlining its intention to thoroughly investigate Kraken’s financial records and data in order to uncover cryptocurrency users who may have neglected their tax obligations. The petition specifically requested access to Kraken’s “books, records, papers, and other data.” “The IRS is conducting an investigation to determine the identity and correct federal income tax liability of U.S. persons who conducted transactions in cryptocurrency for

Federal Reserve Chair Jerome Powell has reaffirmed the Fed’s hawkish stance. Noting that the latest economic data indicates that the Fed’s policy “may not be restrictive enough” and “has not been restrictive for long enough,” Powell stated that the central bank could raise interest rates “at consecutive meetings.” Fed Chairman Powell on Rate Hikes Federal Reserve Chair Jerome Powell reaffirmed the Fed’s hawkish stance on Wednesday during a central banker panel hosted by the European Central Bank in Sintra, Portugal. With the next Federal Open Market Committee (FOMC) meeting slated for July 25-26, Powell emphasized that the Fed is not done curbing inflation and hinted at the possibility of consecutive interest rate hikes. The Federal Reserve paused raising interest rates in June after 10 consecutive rate hikes. “If you look at the data over the last quarter, what you see is stronger than expected growth, a tighter than expected labor market, and higher than expected inflation,” Pow

According to the Commodity Futures Trading Commission (CFTC), Michael Ackerman, the operator of an alleged fraudulent digital asset trading scheme, has been issued with an injunction order which bars him from trading in any CFTC-regulated markets or registering with the CFTC. The injunction also requires Ackerman to pay $27 million in restitution to defrauded victims and a civil monetary penalty of $27 million. Only $10 Million Was Used to Trade Digital Commodity Assets The Commodity Futures Trading Commission (CFTC) announced on June 28 that a default judgment granting a permanent injunction has been issued against Michael Ackerman, the operator of a fraudulent digital asset trading scheme. According to the commission, the injunction granted by Naomi Reice Buchwald, a judge with a U.S. District Court, bars Ackerman from trading on regulated markets and registering with the CFTC. The statement also revealed that Ackerman, who was sentenced to five years of probation with a year of

The South African crypto platform, Revix, said on June 28 that customers can now only access just over three-quarters (76%) of their crypto assets. Revix said the move to block customers’ access to 24% of their crypto assets was made after one of its primary service providers Haru Invest suspended deposits and withdrawals. Impact of Haru Invest’s Abrupt Suspension of Deposits and Withdrawals Revix, the South African crypto investment platform, said on June 28 that it has rendered “24% of crypto asset balances held on the Revix platform as of Tuesday, 13th June, at 02:00 GMT+2 as reserved.” The decision means Revix customers can only withdraw 76% of their crypto assets which are stored on the platform. In a statement explaining the rationale behind the move, Revix said the unexpected suspension of deposits and withdrawals by one of its primary service providers Haru Invest prompted the decision to reserve 24% of customers’ crypto assets. The statement revealed that “Haru is part of

The Law Commission of England and Wales has published its “recommendations for reform and development of the law on digital assets.” The recommendations, which seek to secure the U.K.’s position as a global crypto hub, are intended “to provide a comprehensive legal foundation for digital assets which will allow these new technologies to flourish.” Accommodating Digital Assets as They Evolve The United Kingdom independent body, the Law Commission of England and Wales, has published its “recommendations for reform and development of the law on digital assets.” In a statement , the statutory body added that the recommendations, which seek to help secure the U.K.’s position as a global crypto hub, are intended “to provide a comprehensive legal foundation for digital assets which will allow these new technologies to flourish.” The recommendations also supposedly seek to enable “a diverse range of market participants to interact with and benefit from” the tech and digital assets. The La

Javier Milei, a liberal presidential candidate in Argentina, stated recently that he has the funds needed for the dollarization of the country at the current market prices. Milei noted that his team had signed an NDA (non-disclosure agreement) with unknown third parties that would provide the liquidity needed to close the Central Bank of Argentina. Javier Milei Develops Dollarization Proposal in Argentina Javier Milei, a liberal presidential candidate in Argentina, has advanced his government plan to eliminate inflation in the country if elected. He stated he already has the funds to dollarize the economy at current market prices. Milei, who has made dollarization a pivotal part of his government plan, declared : While they attack, defame, operate, etc., we have been advancing in negotiations and we have already obtained the dollars to dollarize the economy at the value of the market dollar. We continue working to solve a big problem in Argentina, which is inflation. Milei expl

Failed crypto exchange FTX has unexpectedly halted the sale of its stake in the artificial intelligence (AI) startup Anthropic. The stock has been viewed as a source of funds that can be used to compensate customers who suffered losses as a result of the coin trading platform’s collapse. Cryptocurrency Exchange FTX Postpones Sale of Anthropic Shares Bankrupt crypto exchange FTX has decided to hold off the sale of its stake in the AI company Anthropic. The stock, worth $500 million, has been among the exchange’s most sought-after assets, Bloomberg noted in a report. According to sources who chose to remain anonymous, bidders have been informed this month about the pause by Perella Weinberg Partners, the financial services firm acting as an advisor in FTX’s bankruptcy which was looking to sell the Anthropic shares. The AI startup was established in 2021 by former employees of Openai, the developer of the chatbot Chatgpt . In May of this year, Anthropic announced it had raised $450 m

Bitcoin rebounded on Thursday, as markets reacted to the news that Microstrategy bought an additional $374 million worth of the cryptocurrency. Michael Saylor’s firm now has 152,333 bitcoin, worth roughly $4.52 billion. Ethereum moved closer to $1,900 on the news. Bitcoin Bitcoin ( BTC ) edged higher in today’s session, after it was confirmed that Michael Saylor’s Microstrategy purchased 12,333 BTC . Following the news, BTC /USD hit a high of $30,740.79, which comes after the price bottomed out at $29,921.82 the day prior. Today’s rally has seen BTC briefly break out of a resistance level at the $30,700 mark, however bulls are struggling to sustain this. At the the time of writing, bitcoin is trading at $30,678.73, with the relative strength index (RSI) nearing a ceiling of its own at 68.00. Price strength is now at 67.02, with earlier bulls seemingly opting to secure some gains as the aforementioned resistance looms. In the event this zone is breached, there is a good chance

While non-fungible tokens (NFTs) are generally believed to represent the link between an owner and an asset, without platforms acting as “digital notaries” there can be no effective way of stopping scammers from minting and selling plagiarized works, Shaban Shaame, the co-founder of Wakweli protocol has argued. Tokenizing Real-World Assets According to Shaame , the ease with which anyone (including scammers) is able to generate a certificate of authenticity for an NFT only further highlights the importance of having such an authenticating entity. In addition to using tools such as digital notaries, the co-founder of Wakweli — a Layer-1 protocol that issues certificates of authenticity for NFTs & real-world assets — said NFT users must learn to do their own research. NFT traders should always triple-check transactions they sign or the projects they join, Shaame added. Also, in his written answers to questions sent from Bitcoin.com News, the co-founder also offered his thoughts o

PRESS RELEASE. Mind Network , an innovative platform leading the way in data security and privacy within the Web3 ecosystem, is delighted to announce the successful completion of its initial funding round, raising $2.5 million. Binance Labs, Comma3 Ventures, SevenX Ventures, HashKey Capital, Big Brain Holdings, Arweave SCP Ventures, Mandala Capital, and other notable investors participated in the funding round. Mind Network has emerged as a frontrunner in the Web3 arena, providing users with end-to-end encryption and granting them full control over their personal data, financial transactions, and user interactions. By incorporating the principles of Zero Trust Security, Zero Knowledge Proof, and proprietary Adaptive Fully Homomorphic Encryption techniques, the platform ensures robust protection and access control within the decentralized ecosystem. “We are extremely pleased to receive the support and confidence of such esteemed investors,” stated Mason, representing Mind Network

The suspected administrator of the Monopoly Market darknet marketplace has been extradited from Austria to face charges in the U.S. The man, a citizen of Serbia and Croatia who was arrested in Vienna last November, has been accused of facilitating $18 million in illegal drug transactions using cryptocurrencies. DNM Administrator Charged in U.S. With Running Drug Market on the Dark Web Austrian authorities announced on Monday they have extradited to the United States the alleged administrator of a large darknet market (DNM) known as Monopoly Market. Milomir Desnica, a 33-year-old resident of the Serbian town of Smederevska Palanka, was handed over on Friday, the Associated Press reported. Desnica has been accused by the U.S. Department of Justice (DOJ) of running the Monopoly Market site and facilitating $18 million in illegal transactions related to drug trade using cryptocurrencies. The dark web marketplace was shut down in December 2021 when its servers were seized. Last month,

Islamic coin, a Sharia-compliant crypto asset, has secured $200 million from ABO Digital, which brings to $400 million the total funding that the project has received. The latest capital raise is expected to give the crypto project access to funding of up to $200 million as well as to ensure that the coin “has a long and stable runway.” Revolutionizing the Sharia-Compliant Market Islamic coin, the “Sharia-compliant” digital asset, has secured $200 million from ABO Digital, the digital asset investment arm of the ABO group. The latest raise brings to $400 million the total funding the crypto project has received. According to a press release, ABO Digital’s capital injection is expected to give crypto-asset access to funding of up to $200 million as well as to ensure that the coin “has a long and stable runway.” Remarking on ABO Digital’s decision to partner with Islamic Coin, Amine Nedjai, the CEO of the digital asset investment firm, said: ABO Digital is thrilled to collaborate wi

Cryptocurrency exchange Binance has reconsidered a decision to delist some privacy tokens in several European markets. The leading coin trading platform will continue to offer trading in these digital assets after revising their classification to comply with EU regulations. Binance to Continue Support for Certain Privacy Coins Despite Earlier Intentions to Remove Them The world’s largest crypto exchange by trading volume, Binance, has decided to reverse a plan to delist privacy-oriented cryptocurrencies in several EU jurisdictions. The move comes after the company received feedback from some of the projects and traders. Last month, Binance informed customers it intends to remove 12 privacy coins in France, Spain, Italy, and Poland. Those set to be delisted on June 26 were dash ( DASH ), verge (XVG), beam (BEAM), monero ( XMR ), navcoin (NAV), firo (FIRO), horizen (ZEN), secret (SCRT), zcash (ZEC), pivx (PIVX), decred (DCR), and mobilecoin (MOB). At the time, the exchange cited lo

After briefly rising above $31,000, bitcoin consolidated on Wednesday, as bulls moved to secure recent gains. The uncertainty came as crypto custodian Prime Trust entered receivership, after being found to be illiquid by authorities. Ethereum also declined, once again falling below $1,900. Bitcoin Bitcoin ( BTC ) consolidated on Wednesday, as traders opted to secure profits following a recent bull run. BTC /USD broke out of a key resistance level at $30,800 on Tuesday, on its way to a peak at $31,006.79 late in yesterday’s session. However, take profit orders seemed to have been triggered, with bitcoin dropping to an intraday low of $30,169.78 today. Bitcoin chart by TradingView As mentioned yesterday, the relative strength index (RSI) was approaching a ceiling at 73.00, and it appears that bulls were unable to move beyond this point. The index is now tracking at the 66.45 mark, which comes after price strength was unable to stop at a support level at 68.00. Should this dow

The Swiss National Bank (SNB) said it plans to issue a wholesale central bank digital currency as a pilot via SIX Digital Exchange, a subsidiary of SIX, an operator of infrastructure for the Swiss and Spanish financial centers. SNB chairman Thomas Jordan said while the Central Bank has not ruled out launching retail CBDCs, the bank is being “a little bit prudent at the moment.” ‘This Is Not Just an Experiment’ The Swiss central bank said on June 26 it intends to issue wholesale central bank digital currency on SIX Digital Exchange, a subsidiary of SIX, an operator of infrastructure for the Swiss and Spanish financial centers. According to Thomas Jordan, the chairman of the Swiss National Bank (SNB), the pilot CBDC project is expected to commence soon and will run for a limited period. However, the SNB chairman who spoke at the Point Zero Forum , revealed that the experiment would involve the use of a real money equivalent. “This is not just an experiment, it will be real money equ

The Dubai Virtual Asset Regulatory Authority (VARA) recently announced the schedule of fees “covering the issuance of no-objection certificates to proprietary traders, amendments or withdrawal of licence applications, and the submission of whitepapers for VARA review.” According to VARA, licensed entities seeking to completely withdraw from Dubai will be asked to pay a license withdrawal fee of $3,670. Whitepaper Submission and Review The Dubai digital asset regulator, Virtual Asset Regulatory Authority (VARA), recently unveiled a schedule of fees for “the issuance of no-objection certificates to proprietary traders, amendments or withdrawal of licence applications.” Also, in its June 21 announcement, the regulator stated will be accepting and reviewing whitepaper submissions. According to the announcement, proprietary traders in the country will be required to have a so-called no-objection certificate (NOC) before commencing any “proprietary trading in or from the Emirate of Dubai

The Shanghai Clearing House, Asia’s first counterparty clearing institution, announced support for payments made with the digital yuan Monday. According to reports, the move will allow companies to settle transactions for commodities in bulk, promoting the digital yuan, the Chinese central bank digital currency (CBDC), in international markets. Shanghai Clearing House to Support Digital Yuan The Shanghai Clearing House, one of the largest counterparty and clearing companies in Asia and the world, recently introduced support for operations and settlements using the Chinese central bank digital currency (CBDC), the digital yuan. According to local reports , the institution will allow its customers to settle bulk commodities payments with the digital yuan with no added fees for the time being. Some experts believe that using the digital yuan in a large clearing house business will boost efficiency in managing commodity settlements. Dong Dengxin, director of the Finance and Securities

Anatoly Aksakov, chairman of the Financial Markets Committee of the State Duma, the lower chamber of the Federal Assembly in Russia, has remarked that the government intends to hold “serious” control over crypto after it is legalized. According to local reports, Aksakov also stated that crypto users were looking forward to this legalization to use the assets for international settlements. State Duma Official: Russia to Have ‘Serious’ Control Over Crypto After Legalization Anatoly Aksakov, chairman of the Financial Markets Committee of the Russian State Duma, has given an update about the legalization of crypto in Russia and the role of the Russian government regarding its control. According to local media , Aksakov hinted at establishing tight regulations regarding crypto transactions and service providers. He stated: Cryptocurrency will be legalized. Its movement will obviously be under serious control so that there will be no abuse. Aksakov also declared that cryptocurrency u

In a recent submission to the Eighth Judicial District Court in Las Vegas, the Nevada Financial Institutions Division has expressed its intention to take decisive action against the crypto custodian Prime Trust. The regulatory body seeks to not only shut down Prime Trust but also swiftly seize its property, assets, books, papers, documents, and records. The state’s financial overseer aims to place Prime Trust under receivership, ensuring a comprehensive resolution to the matter. Nevada Regulator Moves to Shut Down Prime Trust as Crypto Custodian Faces Insolvency and Asset Accessibility Issues Nevada’s financial watchdog has raised concerns about the financial status of crypto custodian Prime Trust. In a recent development, the Nevada Financial Institutions Division revealed that Prime Trust faced insolvency and was unable to fulfill customer withdrawal requests. This disclosure, made five days ago, prompted the regulator to assert that Prime Trust had breached its fiduciary respon

Bitcoin mining is the highest user of sustainable energy and has similarly achieved the highest increase in sustainable energy mix between July 2019 and June 2023, new data has shown. The data also shows that bitcoin mining’s emission intensity has declined from more than 500 g/kWh seen in July 2021 to the June 2023 figure of 296 g/kWh. Bitcoin Mining Has the Highest Increase in ‘Sustainable Energy Mix’ According to the data comparing bitcoin mining to other industries’ energy mix, the process to extract the top cryptocurrency ranks as “the highest user of sustainable energy (52.6%) across sub-sectors.” The data shows the banking sector as the next highest user of clean energy with 39.2%, while the gold industry is ranked fourth with 12.8%. The data, which is based on the so-called Bitcoin Energy and Emissions Sustainability Tracker (BEEST) model , indicates that Bitcoin mining has also achieved the “highest increase in [the] sustainable energy mix (+38%) during the period charted

PRESS RELEASE. Prepare yourself for the highly anticipated public sale of $GORA on June 28th by staying informed and ready. Rest assured, we have all the vital information about the two launchpads, Poolz and Tokensoft, to guide you through the process seamlessly. This concise guide will provide you with valuable insights and specifics about these platforms, enabling you to navigate the sale with ease. Don’t miss your chance to secure $GORA tokens through Poolz and Tokensoft and be an integral part of the revolutionary Goracle Network. Get ready to join the action! IDO Overview Date: Wednesday, June 28th, 10:00 A.M. UTC Location: we are launching on the following launchpads Tokensoft: Goracle Portal . A well known IDO platform with successful project launches such as The Graph, Tezos & Hedara Hashgraph To participate, complete your KYC (Know Your Customer) process today by visiting http://goracle.tokensoft.io . This step is essential to comply with regulatory requir

While the co-founder of Terraform Labs has been sentenced to four months in jail in Montenegro, a team of six anonymous developers have been attempting to revive the Terra Classic ecosystem after its collapse in May 2022. The six programmers, known as the “Six Samurai,” wholeheartedly believe that luna classic (LUNC) has “limitless upside potential.” Developers Rally to Breathe Life Into Terra Classic Following the collapse of the Terra ecosystem in May 2022, a new blockchain called Phoenix was formed, and the network issued new luna (LUNA) tokens. However, the old blockchain, now referred to as the “Classic” network, continues to exist and has a market valuation of approximately $531 million as of Monday, June 26, 2023. The native token of the Terra Classic chain, now known as luna classic (LUNC), currently trades at around $0.00009140 per unit. A group of developers, self-identified as the “Six Samurai,” now aims to revive the struggling network and infuse new life into the Terr

Kristalina Georgieva, the International Monetary Fund (IMF)’s managing director, has said Egypt needs to plug leakages of foreign reserves if it wishes to successfully support its currency. According to the IMF leader, Egyptian authorities must also do more to support the vulnerable and to ensure that such support does not benefit the rich. Multiple Exchange Rates ‘Create Privileged Positions for Some’ According to the International Monetary Fund (IMF)’s managing director, Kristalina Georgieva, attempting to shore up the Egyptian currency without first plugging foreign reserves leakages is akin to “putting water in a bucket that has holes.” Georgieva also argued that Egypt’s multiple exchange rate policy has created a system that only benefits the privileged. However, in her remarks during an interview with Asharq Business, the IMF boss insisted the global lender is still holding discussions with Egyptian authorities. She also highlighted how a closer working relationship with the

Banking giant HSBC has begun letting customers buy and sell bitcoin and ethereum exchange-traded funds (ETFs) that are listed on the Hong Kong stock exchange (HKEX) using its mobile apps. The stock exchange currently has three crypto futures ETFs listed. HSBC Customers Can Trade Crypto Futures ETFs Using Mobile Apps Banking giant HSBC has reportedly begun allowing customers to buy and sell bitcoin and ethereum exchange-traded funds (ETFs) listed on the Hong Kong stock exchange (HKEX) through its mobile apps. Chinese reporter Colin Wu tweeted Monday: HSBC, the largest bank in Hong Kong, today allows its customers to buy and sell bitcoin and ethereum ETFs listed on the Hong Kong exchange, and is also the first bank in Hong Kong to allow it. The move will expand local users’ exposure to cryptocurrencies in Hong Kong. Wu further noted that HSBC has launched “Virtual Asset Investor Education Centre,” emphasizing: “Investors need to read and confirm the educational materials and risk

Over 500 companies in Argentina have reportedly requested to pay for imports using Chinese yuan as the U.S. dollar shortage worsens. “The central bank doesn’t have dollars so it needs the emergency aid China is offering,” a trade economist in Buenos Aires explained. Chinese Yuan Usage Hits Record High in Argentina The Argentine customs agency has revealed that over 500 companies in Argentina, spanning various industries such as electronics, auto parts, textiles, oil, and mining, have requested to use Chinese yuan for import payments, Bloomberg reported Friday. As the scarcity of U.S. dollars persists in Argentina, the use of the Chinese yuan has reached an all-time high in the country. According to officials from the country’s central bank, import payments authorized in the Chinese currency have amounted to $2.9 billion. Marcelo Elizondo, a trade economist in Buenos Aires, explained: The central bank doesn’t have dollars so it needs the emergency aid China is offering … For Argen

Bitcoin fell below $31,000 to start the week, as traders seemingly moved to secure gains, as the cryptocurrency became overbought. The relative strength index (RSI) rose to its highest point since January, prompting bears to reenter the market. Ethereum also declined, falling below $1,900. Bitcoin Bitcoin ( BTC ) moved marginally lower to start the week, as price fell below the $31,000 mark on Monday. BTC /USD dropped to an intraday low of $30,042.38 earlier in the day, which comes after price peaked above $31,000 on Sunday. Today’s slippage sees bitcoin decline for a third straight day, and comes as the relative strength index (RSI) moved into overbought territory. Bitcoin chart by TradingView Over the weekend, the index hit a peak of 72.92, which was not only near a ceiling of 73.00, but also its highest point since late January. This reading prompted bears to once again enter the market, pushing the RSI down to a current reading of 68.81. The next visible floor appears t