Daily Crypto News
- UK bill allows law enforcement to ‘seize, freeze, recover’ crypto assets — The United Kingdom has introduced a bill that would enable its law enforcement agencies to “seize, freeze and recover” crypto assets, to prevent cyber crime and money laundering.
- Gansu Province warns no crypto mining within national data centers — The Chinese province of Gansu says that it will “strictly prohibit crypto mining” in the server rooms for China’s mega digital Eastern Data and Western Computing infrastructure project, according to a policy document.
- Cryptocurrencies up amid Cardano’s Vasil hard fork, XRP leads gains — Bitcoin bounced back above US$19,000 in Friday morning trading in Asia as Cardano announced a successful hard fork to their upgraded Vasil network. XRP led gains among the top 10 cryptocurrencies by market capitalization.
- Japanese banking giant Nomura’s crypto unit to be based in Switzerland — Tokyo-based financial services group Nomura Holdings, Inc., recently announced its new digital asset subsidiary named Laser Digital and respective holding company Laser Digital Holding, which will be active in Switzerland.
- US IRS Can Issue Summons to Bank Serving Crypto Broker SFOX Customers in Search of Tax Evaders — The Internal Revenue Service (IRS) can issue a “John Doe” summons to a bank that provided services for customers of cryptocurrency prime broker SFOX, a New York judge ordered Thursday. The ruling will allow the tax agency to continue looking for potential tax evaders in an ongoing probe.
- Cardano Vasil upgrade completes its first phase — The Cardano blockchain’s long-awaited upgrade, the Vasil hard fork, successfully completed its first phase early Friday morning, according to Cardano operator Input Output Global Hong Kong’s official Twitter page.
- Crypto-Mining Data Center Compute North Files for Bankruptcy, CEO Steps Down — Compute North in February announced a capital raise of $385 million, consisting of an $85 million Series C equity round and $300 million in debt financing. But it fell into bankruptcy as miners struggle to survive amid slumping bitcoin (BTC) prices, rising power costs and record difficulty in mining bitcoin. The filing is likely to have negative implications for the industry. Compute North is one of the largest data center providers for miners, and has multiple deals with other larger mining companies.
- Crypto-Mixing Service Tornado Cash Code Is Back on GitHub — Code repositories for the Ethereum-based mixer Tornado Cash were relisted on GitHub on Thursday. The U.S. Treasury Department’s Office of Foreign Assets (OFAC) banned Americans last month from using Tornado Cash, a decentralized privacy service that mixes cryptocurrencies together to obfuscate the original address. The mixer was blacklisted and designated under the Specially Designated National list because the North Korean hacking group Lazarus had used it in the past.
- Celsius Network Might Be Planning to Turn Its Debt Into Crypto ‘IOU’ Tokens — Bankrupt crypto lender Celsius Network appears to be considering a plan to turn its debt into crypto “IOU” (“I Owe You”) tokens. Celsius filed for Chapter 11 bankruptcy protection in July, a month after halting withdrawals because of a liquidity crisis it blamed on “extreme market conditions.” Subsequent bankruptcy proceedings in the Southern District of New York have revealed the depths of Celsius’ financial troubles: The lender owes 500,000 creditors nearly $5 billion.
- Coinbase gets nod from Dutch central bank to offer crypto services — Coinbase said on Thursday in a statement that it has registered with De Nederlandsche Bank, the central bank of the Netherlands, as a crypto service provider. The registration allows it to offer its full suite of retail, institutional and ecosystem products to customers in the country, the exchange said.
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