Category: Law of the Chain
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FTX Recovery Trust freezes payouts to 49 countries pending legal clearance, China faces biggest hit
FTX Recovery Trust halts payouts to 49 countries due to legal restrictions, with China holding 82% of the frozen claims. Creditors must object within 45 days or forfeit funds.
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Senator Lummis Proposes Changes to Crypto Tax Rules News ETHNews
Senator Lummis proposes crypto tax reforms including a $300 spending exemption per transaction and deferred taxes for miners and stakers until sale to simplify regulations.
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Senator Lummis proposes to exempt small crypto transactions from taxes, ending double taxation for miners and stakers
Senator Lummis proposes tax reforms for crypto, including a $300 exemption for small transactions and ending double taxation for miners and stakers to foster innovation.
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Amundi warns GENIUS Act could backfire, undermining dollar dominance
Amundi warns the US GENIUS Act may boost dollar-backed stablecoins, potentially weakening the dollar’s dominance and disrupting global payment systems.
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Central Bank of Bahrain allows yield-bearing approved stablecoins
The Central Bank of Bahrain has issued full stablecoin regulations, allowing licensed issuers to offer yield-bearing stablecoins with strict reserve and operational requirements.
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Breaking: Senator Lummis Introduces Crypto Tax Legislation to Ease Bitcoin Transactions
Senator Lummis introduces a crypto tax bill to ease Bitcoin transactions, offering tax relief for small purchases, mining, staking, and charitable donations while simplifying lending rules.
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IMF denies Pakistan’s proposal to offer cheap power to Bitcoin, crypto miners
The IMF rejected Pakistan’s proposal for subsidized electricity for crypto miners, citing market distortion concerns, despite Pakistan’s surplus power and plans to boost consumption.
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Pakistan’s energy optimization through Bitcoin mining gets 3 months trial after IMF’s partial rejection
Pakistan’s IMF-backed Bitcoin mining trial reduced to 3 months due to energy concerns. The country continues crypto push with a new advisory council including industry leaders like CZ and Michael Saylor.
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Hackers Steal $180M from Brazilian Banking System in Largest-Ever Attack, Cash Out via Bitcoin and USDT
Hackers stole $180M from Brazil’s banking system via a critical vulnerability, marking the largest cyberattack in the country’s history. Funds were converted to Bitcoin and USDT through crypto exchanges.
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Fight for 40,000 BTC Continues: Judge Allows Celsius’s Lawsuit Against Tether to Proceed
A U.S. judge allows Celsius Network to proceed with a $4.3B lawsuit against Tether over the alleged improper sale of 40,000 BTC in 2022, dismissing some claims but finding merit in others.
