USA | ForkLog - Part 46

ForkLog 37 09.01.2025

US authorities cleared to sell $6.58bn of Silk Road bitcoin

On December 30, 2024, the US Department of Justice obtained federal court approval to liquidate 69,370 BTC ($6.58bn at current prices) confiscated from the Silk Road darknet marketplace, DB News reported. The US Govt has been given the greenlight to liquidate 69,000 BTC ($6.5B) from Silk Road, an official confirmed to DB News today Interesting […]

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ForkLog 121 09.01.2025

Do Kwon, Terra’s founder, to stand trial in January 2026

The trial of Terra founder Do Kwon is scheduled for January 2026. Lawyers cited the need to process a substantial volume of evidence, reports Inner City Press. “The trial will begin on January 26, 2026. I give you one week to request another date, otherwise — ‘the train has left’,” noted Judge Paul Engelmayer. According […]

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ForkLog 21 03.01.2025

Do Kwon appears in US court

On January 2, Manhattan prosecutors unsealed an indictment against Do Kwon. The same day, the Terraform Labs co-founder appeared in court, Inner City Press reported. OK — now in courtroom for US v. Do Kwon presentment after his extradition in from Montenegro for Terraform crypto fraud — Inner City Press will cover the case(s) https://t.co/G3vwN2mZuS […]

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ForkLog 36 30.12.2024

AI Data Centres Pose Potential Risks to US Power Grids

The proliferation of data centres powering artificial intelligence could lead to issues within the US power system, according to a new report by Bloomberg. The agency found that more than half of households experiencing the most severe power distortions are located within 32 km of major data centres. Experts analysed 1 million sensors in residential […]

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ForkLog 24 30.12.2024

US Tax Authority Faces Lawsuit Over DeFi Broker Regulations

The Blockchain Association, Texas Blockchain Council, and DeFi Education Fund have petitioned the court to prevent the US Internal Revenue Service (IRS) from enforcing information disclosure rules on DeFi companies. 1/ Yesterday, @blockchainassn @fund_defi @texasblockchain_ filed a lawsuit against the IRS challenging yesterday’s finalization of the broker rule. The rule violates the Administrative Procedure Act […]

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ForkLog 20 28.12.2024

IRS to Impose Taxes on DeFi Platforms

The United States Internal Revenue Service (IRS) has introduced regulations requiring “brokers from the DeFi segment” to report gross income from crypto asset transactions.

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ForkLog 13 26.12.2024

Hester Peirce: A Revamped SEC May Be More Crypto-Friendly

SEC will fundamentally change its enforcement approach with a shift in personnel, according to Commissioner Hester Peirce. “I hope we return to the understanding that we are a regulatory agency within the executive branch, not an executive body that does not engage in regulation,” Peirce noted at the Blockchain Association summit. According to her, the […]

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ForkLog 28 25.12.2024

Where is it Cheaper to Invest? Cryptocurrency Taxation in the US, EU, and UK

As the crypto industry evolves, governments have been compelled to develop specific tax legislation. We examine the current state of affairs in major jurisdictions. United States In the US, cryptocurrencies are taxed similarly to traditional securities. The specific rate depends on how the assets were acquired and how long they are held. Profits from investments […]

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ForkLog 72 23.12.2024

US Prosecutors Seek 60-Year Sentence for NFT Fraudsters

Two California residents have been charged with NFT-related fraud resulting in damages amounting to $22 million, according to the US Department of Justice. According to court documents, Gabriel Hay, known by the aliases Mr. Handz and Vaultkeeper, and Gavin Mayo, known as Gavinm, launched fraudulent projects Vault of Gems and Faceless. Investors were promised high […]

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ForkLog 32 23.12.2024

VanEck Assesses Bitcoin Reserve’s Impact on US National Debt

The establishment of a strategic bitcoin reserve could help the United States reduce its national debt by 35% by 2050, according to an assessment by VanEck. Experts predict that digital gold will rise to $42.3 million by 2049, with an average annual growth rate of 25%. Meanwhile, federal government obligations are expected to increase to […]

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ForkLog 49 23.12.2024

Michael Saylor Proposes Bitcoin Strategy for the US

Michael Saylor, the founder of MicroStrategy, has proposed a digital asset policy for the United States. His plan includes the creation of a bitcoin reserve that could yield up to $81 trillion for the country. A strategic digital asset policy can strengthen the US dollar, neutralize the national debt, and position America as the global […]

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ForkLog 20 20.12.2024

American Football Player to Receive Part of Salary in Bitcoin

Promising college football player Matai Tagovailoa has agreed to receive payments in Bitcoin under a contract with the University of Southern California (USC). The athlete has allowed USC to use his “name, image, and likeness” in exchange for undisclosed compensation. Part of the payment will be made in the leading cryptocurrency via the Strike app. […]

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