USA | ForkLog - Part 149

ForkLog 8 26.07.2021

Massena, NY imposes 90-day moratorium on new Bitcoin mining farms

Authorities in Massena, New York, imposed a 90-day moratorium on launching new cryptocurrency mining centers to attract tourists.

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ForkLog 15 25.07.2021

Vermont Regulators Launch Probe into BlockFi’s Activities

Vermont securities regulators are examining the legality of BlockFi's BlockFi Interest Account (BIA) offering from the crypto-lending platform BlockFi.

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ForkLog 7 23.07.2021

Lawsuit filed against Coinbase over allegedly misleading statements

The law firm Scott + Scott filed a class-action lawsuit against Coinbase in the United States District Court for the Northern District of California. The suit concerns the company's statements, Law360 reports.

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ForkLog 15 23.07.2021

BlockFi to close investment round and push ahead with IPO amid regulatory pressure

BlockFi, the crypto-lending platform, plans to close its Series E round on July 27 at a valuation of around $4.75 billion and, 12–18 months later, to go public via an IPO. The plans are laid out in an investor presentation, CoinDesk reports. In June the company was targeting a valuation close to {{AOPEN_1}}to $5 billion{{ACLOSE_1}}. It was possible that the final figure would exceed this benchmark. The funding round is expected to be led by Dan Loeb's hedge fund Third Point and London's Hedosophia. Other investors include Coinbase Ventures, Tiger Global and Bain Capital. The outlet contends that BlockFi's decision to move the IPO from the second half of 2021 to a later date was made before frictions with regulators arose. Securities regulators in {{AOPEN_2}}New Jersey{{ACLOSE_2}}, {{AOPEN_3}}Alabama{{ACLOSE_3}} and Texas charged BlockFi with selling unregistered securities. In that capacity, regulators deemed BlockFi's crypto-savings accounts (BlockFi Interest Account) to be unregistered securities. On Twitter, the company said it is in dialogue with authorities and expects to prove regulators' arguments unfounded. BlockFi assured that clients will still have access to all BlockFi products, services and assets. 2/ BlockFi is fully operational for all existing clients everywhere in the world, and clients will continue to have access to all products, services, and assets on BlockFi. Previously, Coinbase, the bitcoin exchange, had listed its shares on the market. Following its lead could be Bullish, the cryptocurrency trading platform, and Circle, the startup behind USDC. Subscribe to the ForkLog channel on YouTube!

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ForkLog 8 23.07.2021

Study finds US bitcoin investors have tripled since 2018

Since 2018, the share of Bitcoin holders among American investors has tripled—from 2% to 6%. Gallup, the public-opinion polling institute, attributes such calculations.

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ForkLog 15 23.07.2021

IRS to simplify reporting of income from crypto transactions

The new version of the US Internal Revenue Service (IRS) Form 1040 includes refined wording on the cryptocurrency-transaction question. Bloomberg Law experts surveyed say this will reduce ambiguity for taxpayers.

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ForkLog 22 22.07.2021

Alabama regulator accuses BlockFi of selling unregistered securities

The Alabama Securities Commission accuses the crypto-lending platform BlockFi of selling unregistered securities. The regulator gave the company a month to explain why the state should not shut down its operations.

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ForkLog 9 22.07.2021

Global X, the subsidiary of a $563 billion asset manager, files to launch a Bitcoin ETF

The exchange-traded funds provider Global X filed with the U.S. Securities and Exchange Commission (SEC) an application to launch a Bitcoin ETF. If approved, its shares would be listed on the Cboe BZX exchange.

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ForkLog 21 22.07.2021

Hester Peirce criticises SEC policy on Bitcoin ETFs

SEC commissioner Hester Peirce lamented the United States' delay in approving a Bitcoin ETF. Forbes reports this.

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ForkLog 28 22.07.2021

Core Scientific to go public via SPAC merger

The American blockchain-hosting provider Core Scientific will become a public company through a reverse merger with SPAC Power & Digital Infrastructure Acquisition Corp. (XPDI). The deal values the company at about $4.3 billion.

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ForkLog 29 22.07.2021

Gensler warns stock-token issuers to report to the SEC

Issuers of tokens backed by equity are required to report to the Securities and Exchange Commission. This was stated by the agency's head, Gary Gensler.

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ForkLog 22 21.07.2021

US court issues final judgment against Paragon Coin founders and promoters.

A United States district court for the Northern District of California has ordered the founders, executives and promoters of the cryptocurrency startup Paragon to reimburse investors more than $12.1 million, with interest.

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