Crypto weekly: IRS Tax Bill Would Take Cash From Victims of FTX Bankruptcy; Crypto exchange KuCoin to shut in New York, pay $22 million to settle lawsuit.

Cryptocurrencies keep pushing boundaries, and each headline is a testament to the industry’s growth. Let us bring you up to speed with the most significant stories from the past week. Next week also promises to be full of events that may affect the overall market picture.

Review of the past week:

December 12, 2023

IRS Tax Bill Would Take Cash From Victims of FTX Bankruptcy.
FTX fighting with US tax officials over $24 billion IRS claim. Read more

December 13, 2023

Crypto exchange KuCoin to shut in New York, pay $22 million to settle lawsuit.
KuCoin has agreed to block New York users from its platform and pay $22 million to settle a lawsuit brought by the state as part of its push to rein in digital assets companies. Read more

December 13, 2023

Hitachi and Concordium Foundation team up to develop biometric crypto wallet.
The new project may allow users to restore their accounts with a simple fingerprint or facial scan. Read more

December 15, 2023 Coinbase challenges SEC’s denial of new crypto rulemaking in court.
Coinbase’s Paul Grewal said the exchange is challenging the SEC’s move to deny its request for the agency to write crypto-specific rules. Read more
December 16, 2023 Tether: We’ve onboarded FBI, Secret Service to our platform.
Tether’s CEO has elaborated on his methods to prevent unsavory individuals from using the company’s USDT stablecoins, including by onboarding the Secret Service and FBI to the company’s platform. Read more


What’s coming up for us this week:

December 21, 2023 U.S. Gross Domestic Product (GDP).
Gross Domestic Product (GDP) will be published on December 21, 2023, at 01:30 P.M. UTC. Read more


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Best regards,
FYBIT team