Following on their earlier lawsuit, CCI and the Blockchain Association seek to block Illinois’ 0.2% crypto tax, arguing it is unconstitutional and would impose costly compliance burdens. The Crypto Council for Innovation (CCI) and Blockchain Association (BA) are seeking to block Illinois from enforcing a 0.2% tax on cryptocurrency transactions before it takes effect in January 2027. The trade groups said Wednesday that they have filed a motion for a preliminary injunction in the Circuit Court of Sangamon County, Illinois to protect digital asset firms from suffering irreparable harm. “Companies are being asked to spend millions to build systems for a tax that violates their constitutional rights without answers to basic questions about what is taxed and when, all under the threat of crimin…
The evergreen fund will use USDT infrastructure to support asset-backed lending through fintech platforms in more than 60 countries. Tether and Fasanara Capital have launched a private credit fund backed by $400 million from the two firms that aims to raise as much as $3 billion from institutional investors. The evergreen fund, called StableFund, will use Tether’s USDT (USDt) as settlement infrastructure for short-duration, asset-backed lending to businesses and consumers through fintech platforms in more than 60 countries, the companies said Wednesday. Fasanara will manage the fund’s investments, while Tether will source USDT-linked financing opportunities and provide the infrastructure for moving funds on- and offchain. The fund will focus on small and medium-sized businesses and consume…
The German Ministry of Finance is reportedly seeking to impose a 25% tax on cryptocurrencies, departing from current laws that make crypto gains tax-free after one year of holding. The German Federal Ministry of Finance reportedly issued a draft proposal to transition cryptocurrency trading profits to the standard 25% flat-rate tax starting in 2028. The ministry’s proposal would apply to all crypto assets acquired after Jan. 1, 2027, according to a draft proposal seen by local news outlet Die Welt on Wednesday. The draft also proposes grandfathering protections, meaning that digital assets bought before this deadline may be treated under the old taxation rules.
From the whereabouts of the CryptoQueen to a mysterious death involving a DeFi builder paranoid about the “pedo elite,” here are 10 crypto mysteries that still have no good answer. In an industry built on transparency and verifiability, newcomers might assume that crypto and blockchains leave very little room for mystery. They’d be completely wrong of course, because the murky world of digital assets is rife with underhanded dealings, unsolved enigmas and fortunes disappearing behind pseudonyms. From the identity of Bitcoin’s mystery creator to what really happened to a DAI developer on a beach in Puerto Rico, here are 10 crypto mysteries that remain unsolved.
BitMart provided no asset figures or withdrawal timetable and will launch a feedback portal within five working days during a financial adviser review. BitMart appointed Alvarez & Marsal as its financial adviser on Wednesday, its self-imposed Sept. 9 deadline for an update, but did not publish the restructuring and business resumption roadmap it said it was developing. Alvarez & Marsal will work with BitMart’s legal advisers to evaluate the exchange’s assets, financial position, stakeholder issues and possible paths forward, according to Wednesday’s announcement. The review will also consider proposals from unidentified third parties, BitMart said on X. BitMart said it will deploy a dedicated web portal within five working days to collect user feedback on its action plan and future directi…
Banca d’Italia ordered crypto service providers to implement internal controls to screen for crypto transfers tied to sanctioned entities. Italy’s central bank, Banca d’Italia, ordered mandatory sanctions screening for cryptocurrency transfers to help curb illicit flows across the EU. The bank said that crypto asset service providers (CASPs) must put policies and internal controls in place to enforce EU financial sanctions when processing crypto transfers, according to a Monday announcement. The central bank said that CASPs should strive to ensure adequate controls to identify customers and transactions linked to sanctioned entities.
The US Senate has a limited window to pass a crypto market structure bill, but if it were to fail, the legislation could be completely remade or scrapped under Democrats in 2027. With lawmakers in the US Senate set to consider legislation pushed by many in the cryptocurrency industry for regulatory clarity, there’s a limited window for the bill to become law, potentially delaying it into the next session of Congress with different politics in play. The US Senate is scheduled to return to session on Monday after more than a month in which lawmakers were on state work periods. Senator John Thune, the Republican majority leader in the chamber, has scheduled a cloture vote on the Digital Asset Market Clarity (CLARITY) Act for Tuesday, in which his compatriots will need support from a handful o…
Metaplanet’s executive stock pool continues to draw backlash over dilution concerns, as investors urged the company to freeze the exercise rights tied to 273 million shares. Japanese Bitcoin treasury company Metaplanet’s executive stock pool continues to draw shareholder backlash over stock dilution concerns. Multiple shareholders objected across social media to Metaplanet’s 10th Series executive option pool, which was designed as 20% of fully diluted shares and automatically expanded as the company issued new shares to fund its Bitcoin (BTC) accumulation. Bitcoin Magazine CEO David Bailey defended Metaplanet’s executive stock model, saying that giving the team 20% of the cap table over five years “isn’t some crazy number” and that his company has been invested in Metaplanet since “day ze…
Bitcoin aggregate onchain profit entered its fourth week, but a popular analyst warned that BTC price “downside risk” remained in place. Bitcoin (BTC) is breaking with typical bear-market behavior as a classic onchain metric puts in its longest bullish streak of 2026. Key points:
Alan Lane said a “coordinated attack” by the Biden administration made Silvergate’s continued operation untenable and prompted its liquidation. Former Silvergate Bank CEO Alan Lane said political and regulatory pressure from the Biden administration drove the crypto-focused lender’s voluntary wind-down in 2023, arguing that the bank remained solvent after weathering a deposit run. In an inaugural Substack post on Tuesday, Lane said Silvergate could have continued operating after satisfying withdrawals equivalent to 70% of its demand deposits during the fourth quarter of 2022. He argued that a “coordinated attack by the Biden Administration” ultimately led to the wind-down, saying the bank chose liquidation “in the face of political pressure.” Lane said Silvergate had held liquid assets tha…
Exporters can now fund imports with overseas earnings without first selling their foreign currency at official rates, the Financial Times reported. Iran’s central bank has reportedly eased foreign currency controls to encourage businesses to bring overseas earnings home, including through cryptocurrency, amid tightening US sanctions. This includes using Tether’s USDt (USDT) and Bitcoin (BTC) to settle cross-border transactions through Iranian cryptocurrency exchanges, the Financial Times reported Wednesday. Exporters can also use their earnings to finance imports directly without first selling their foreign currency through the government’s exchange platform at official rates, the report said.
The proposed Builders Bank would offer federally supervised digital asset custody but would not accept deposits or issue loans. Jack Dorsey’s payments company Block seeks to establish a federally regulated trust bank to provide custody services for Bitcoin and stablecoins. Block said Tuesday it had submitted an application to the Office of the Comptroller of the Currency (OCC) to create Builders Bank & Trust, an uninsured national trust bank. If approved, the bank would operate under OCC supervision and offer custody and related fiduciary services. Block said the charter would give its custody operations a consistent national framework as the business expands. The proposed bank would not accept deposits or make loans, separating it from a conventional commercial bank.
Gemini’s local entity is authorized to provide digital payment token and cross-border money transfer services without standard transaction-volume limits. Crypto exchange Gemini has received a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS), completing its transition from in-principle approval granted nearly two years ago. On Wednesday, Gemini said the license was awarded to Gemini Digital Payments Singapore, its local entity. The MAS Financial Institutions Directory lists the company as authorized to provide digital payment token services and cross-border money transfers. MPI license holders can provide regulated payment services without being subject to the transaction-volume limits imposed on standard payment institutions. However, MAS said major…
US prosecutors said Lam organized an international network that targeted cryptocurrency holders through social engineering and home break-ins. Singaporean national Malone Lam pleaded guilty to participating in a racketeering conspiracy that US prosecutors say used social engineering and home break-ins to steal and launder more than $245 million in cryptocurrency. On Tuesday, the US Justice Department said that Lam organized the international operation, identified prospective victims and coordinated other conspirators. The enterprise was formed through connections on online gaming platforms and operated from no later than October 2023 through at least May 2025, according to court documents. The plea establishes criminal responsibility nearly two years after Lam was charged over the theft of…
One of the first towns in the US to ban Bitcoin mining for 18 months is considering another temporary moratorium extending to data centers and other crypto mining operations. The town of Plattsburgh in New York state held a public hearing to discuss a temporary land use moratorium for operations including AI data centers and crypto mining. In a Thursday hearing, Plattsburgh Mayor Wendell Hughes and the common council heard from members of the public about a law proposed to impose a short-term ban on land use related to “certain high energy computing facilities,” including cryptocurrency mining and artificial intelligence. The moratorium, if passed, would halt approvals for operations requiring 300 or more kilowatts (kW) for 12 months. As of Tuesday, reports signaled that the mayor had not…
Former Franklin Templeton digital asset executive Christopher Jensen will lead StablecoinX, the largest corporate holder of Ethena’s ENA token. StablecoinX appointed former Franklin Templeton digital asset executive Christopher Jensen as CEO, putting him in charge of the largest corporate holder of Ethena’s ENA token. Jensen succeeds Ted Chen, who led StablecoinX through its public listing in June and will remain chairman of the company’s board. StablecoinX, which trades on Nasdaq under the ticker USDE, is a publicly listed company focused on the Ethena ecosystem. Ethena issues USDe, a synthetic dollar that ranks as the fifth-largest stablecoin with nearly $4.4 billion in circulation, according to DefiLlama data. ENA, Ethena’s governance token, gives holders voting rights over changes to t…
Bybit added USDT-settled perpetuals tracking EUR/USD, GBP/USD and USD/JPY, with 24/7 trading and leverage of up to 100x. Dubai-based crypto exchange Bybit has launched USDT-settled perpetual contracts tracking three major foreign currency pairs, adding FX to its growing lineup of traditional finance derivatives. The contracts cover EUR/USD, GBP/USD and USD/JPY, tracking movements in the underlying currency pairs without giving traders ownership of the currencies themselves. They have no expiration date and offer leverage of up to 100x. Profits and losses are settled in USDT, with trading available around the clock, including when underlying FX markets are closed.
Robinhood will route event contracts through OG.com’s CFTC-regulated infrastructure as it expands its prediction markets business. Robinhood has taken equity stakes in Crypto.com and its newly spun-off prediction market platform OG.com as part of a multi-year deal to use OG.com’s regulated infrastructure for event contracts. Under the agreement, Robinhood will route retail event contracts through OG.com’s Commodity Futures Trading Commission (CFTC)-regulated derivatives exchange and clearinghouse, with the rollout beginning Tuesday for eligible US customers. According to Tuesday’s announcement, the online brokerage will receive initial equity stakes in both Crypto.com and OG.com, with the stakes priced at the valuations established by an earlier Citadel Securities investment in the platfor…
Visa is combining VisaNet settlement data with blockchain lending as stablecoin payment volume on its network jumps nearly 200% year over year. Payment giant Visa is connecting its settlement network with onchain lending, giving stablecoin-linked card programs another way to access working capital, potentially expanding the role of onchain lending from crypto markets into payment settlement. The company announced Tuesday that settlement data from VisaNet will be combined with blockchain-based lending infrastructure, allowing lenders to finance payment obligations using data from the Visa network. The initiative enables lenders to use Visa settlement records alongside onchain transaction data to assess borrowers and finance their settlement obligations. Visa highlighted Credit Coop, a block…
Bitcoin fell with US stocks on the opening of Tuesday’s Wall Street trading session as analysis warns that BTC price support at $78,300 must hold. Bitcoin (BTC) dipped below $78,000 at Tuesday’s Wall Street open as risk assets fell on renewed Middle East tensions. Key points:
