After failing to retrieve a hard drive with 8,000 BTC, James Howells is turning the lost coins into the basis of a new DeFi project. Twelve years after accidentally throwing away a hard drive containing 8,000 Bitcoin (BTC), James Howells is abandoning his long-running effort to excavate it from a Newport landfill. Instead, he plans to launch a new token inspired by the lost coins. Howells, whose quest included legal battles, drone surveys and a 25-million British pound offer ($33.3 million) to buy the landfill outright, told Cointelegraph he’s shifting focus from physical recovery to a blockchain-backed project. Rather than trying to dig up the stash, he aims to turn the story of the lost Bitcoin into a DeFi token — symbolically “vaulting” what can no longer be accessed. Read more
In a new staff statement, the SEC clarifies that certain crypto liquid staking practices do not constitute securities offerings, marking a step toward clearer digital asset regulation. The US Securities and Exchange Commission (SEC) has clarified that certain cryptocurrency liquid staking activities do not constitute securities offerings, a notable step in the agency’s ongoing effort to provide clearer guidance on digital asset regulation. “The statement clarifies the division’s view that, depending on the facts and circumstances, the liquid staking activities covered in the statement do not involve the offer and sale of securities,” the regulator said Tuesday, referring to key sections of the Securities Act of 1933 and the Securities Exchange Act of 1934. In its Staff Statement, the SEC defined liquid staking as the process of staking digital assets through a protocol and receiving a “liquid staking receipt token,” which serves as evidence of the staker’s ownership. Read more