Global Bitcoin ATM network lost over 600 machines in 2 months
Law enforcement authorities are proactively seeking out and closing Bitcoin ATMs that are frequently involved in extortion and scams.
Law enforcement authorities are proactively seeking out and closing Bitcoin ATMs that are frequently involved in extortion and scams.
The US, EU and UK have signed the world’s first legally binding international AI treaty, prioritizing human rights and accountability in AI regulation.
The Artificial Superintelligence Alliance urges decentralization in cloud services to mitigate vulnerabilities in AI development to ensure both security and innovation.
The US Federal Reserve said it identified “significant deficiencies” in the bank’s dealings with crypto clients and its risk management procedures.
Robinhood Crypto LLC has agreed to pay $3.9 million to settle claims it failed to let customers withdraw cryptocurrency from their accounts between 2018 and 2022.
According to BlockBeats, on September 5, Ripple's legal team revealed in a document submitted to the U.S. District Court for the Southern District of New York on September 4 that the SEC has agreed to delay the payment of penalties until after September 6. The legal team suggested that Ripple deposit 111% of the judgment amount, approximately $139 million, into a bank account until 30 days after the appeal period expires or any appeals are resolved.Analysts believe that this delay in penalty payment may pave the way for a potential appeal by the SEC.Previously, on August 7, a federal judge ordered Ripple Labs Inc. to pay a civil penalty of $125 million for selling its XRP tokens to institutional investors without registering with the U.S. Securities and Exchange Commission (SEC).
According to Odaily, the U.S. Commodity Futures Trading Commission (CFTC) has accused Uniswap Labs of conducting illegal digital asset derivatives trading. The regulatory body has demanded that Uniswap Labs pay a civil penalty of $175,000 and cease activities that violate the Commodity Exchange Act (CEA).
According to Odaily, market reports indicate that the United States recorded a trade deficit of $78.8 billion in July. This figure slightly exceeded the expected deficit of $79.0 billion. The previous value was revised from $73.1 billion to $73.0 billion.The July trade deficit marks the largest since June 2022, highlighting ongoing economic challenges. The data reflects the balance between the country's imports and exports, with a higher deficit indicating that the value of imports continues to surpass that of exports. This trend can have significant implications for the overall economic health and policy decisions.The trade deficit is a critical economic indicator, often influencing currency values, trade policies, and international relations. Analysts and policymakers closely monitor these figures to assess economic performance and make informed decisions. The latest data underscores the importance of addressing trade imbalances to foster a more stable economic environment.
According to BlockBeats, Ripple Labs CEO Brad Garlinghouse has made a bold prediction that regardless of the outcome of the 2024 U.S. presidential election, SEC Chairman Gary Gensler will step down. Garlinghouse expressed his willingness to make a 'gentleman's bet' that Gensler's term will not continue, no matter who takes office in the White House.Since 2020, Ripple has been embroiled in a legal battle with the SEC. In the context of the upcoming November election, Garlinghouse discussed U.S. cryptocurrency policy, emphasizing that technology should bridge political divides. He anticipates that as the election progresses, technology will foster bipartisan cooperation. He noted that while Republicans have taken a more proactive stance on cryptocurrency, several key Democrats also view these technologies as crucial for maintaining America's leadership in the tech sector.
According to Cointelegraph, Japan’s Financial Services Agency (FSA) has unveiled plans for a comprehensive overhaul of the tax code for the fiscal year 2025, which includes provisions for crypto assets that could potentially lower their tax rates. In an August 30 request for tax reform, the FSA emphasized the need to treat crypto assets similarly to traditional financial assets that can be invested in by the public.Source: MartyPartyThe FSA stated, “Regarding the tax treatment of cryptocurrency transactions, cryptocurrency should be treated as a financial asset that should be an investment target for the public. It is necessary to consider this issue from the perspective of whether it should be treated as such.” Currently, crypto profits in Japan are taxed as miscellaneous income at rates ranging from 15% to 55%, with the highest rate applying to earnings over $1,377 (200,000 Japanese yen), depending on the individual’s income tax bracket. In contrast, profits from stock trading are taxed at a maximum rate of 20%. Corporate crypto holders face a flat 30% tax rate on their holdings at the end of the financial year, regardless of whether they have made a profit through a sale.Government ministries submit tax reform requests to the ruling party, which then forwards them to a tax system research committee and the national legislature for consideration. The reform must be approved by both houses of the Japanese government — the House of Representatives and the House of Councilors — to be enacted into law. Advocates of the crypto industry in Japan have been lobbying for a revision of the national tax regime for digital assets for several years. The Japan Blockchain Association (JBA), a pro-crypto lobbying group, formally requested the government in 2023 to lower the tax rate on crypto assets. On July 19, the group also submitted a request for tax reform on crypto assets for the 2025 financial year to foster further growth in the nation’s crypto sector. Among its proposals was a flat 20% tax rate for crypto and a three-year loss carryover deduction. Despite these efforts, the requests have so far failed to result in any policy changes for the industry in Japan.