Crypto News
Ripple and SEC Ask Court to Halt XRP Case as Deal Nears Final Approval
A new court filing reveals Ripple and the SEC are racing toward a landmark settlement, signaling a dramatic turn in the XRP case with massive crypto implications. Ripple and SEC Request Court Pause as Settlement Nears in XRP Case Attorneys representing both the U.S. Securities and Exchange Commission (SEC) and Ripple Labs Inc. jointly submittedSource link
President Trump Signs Resolution Erasing IRS Crypto Rule Targeting DeFi
With a signature from President Donald Trump, the decentralized financial (DeFi) corner of the crypto sector is now freed from U.S. Internal Revenue Service demands that such platforms be treated as brokers and required to track and report user activity.That narrowly focused IRS rule, approved in the final days of former President Joe Biden's administration, has been formally struck down, according to Representative Mike Carey, an Ohio Republican who backed the effort. And the agency is prevented from pursuing anything like it, according to the Congressional Review Act power used by lawmakers to get rid of the tax regulation.Though the issue was relatively limited, its completion marks the first time a pro-crypto effort has cleared the U.S. Congress.Both the Senate...
Trump Becomes First President to Sign Crypto Bill Into Law, Ending Anti-DeFi IRS Rule
The Biden-era rule would have obligated DeFi platforms to comply with tax reporting requirements designed for brokers.Source link
Helium Issuer Nova Labs Agrees to Pay SEC $200K to Settle Allegations It Lied to Investors
Nova Labs, the parent company behind the Helium blockchain, has agreed to pay the U.S. Securities and Exchange Commission (SEC) $200,000 to settle civil securities fraud charges the regulator filed against the firm in January, a court filing said Thursday.Without admitting or denying any wrongdoing, Nova Labs agreed to pay the fine to settle accusations that it misled institutional investors during a funding round from late 2021 to early 2022, during which it raised $200 million in fresh capital at a $1 billion valuation. In its complaint, the SEC accused Nova Labs of lying to prospective investors about a number of big-name enterprise customers — including Nestle, Salesforce and Lime — it claimed were using the Helium technology.The SEC accused...
CryptoPunks NFT Sells for $6 Million in Ethereum—At a $10 Million Loss
A CryptoPunks NFT just sold for $6 million—but the very same Ethereum asset traded hands for $16 million one year ago.Source link