Illinois isn’t off the hook yet: the state wants a court to delay its planned 0.2% crypto tax to July 2027 as the legal fight with industry groups escalates. The dispute centers on broad compliance burdens, blockchain-specific treatment, and whether the levy is even lawful.
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Adam Back’s name is now tied to Bitcoin’s covenant opcode debate, a fight over whether built-in spending rules would make BTC more useful or just more complicated. Supporters see stronger self-custody tools; critics see another messy protocol can of worms.
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Bitget says a hot wallet exploit hit about $351.6 million in assets, with cold storage untouched and user funds protected. The breach has sparked fresh scrutiny of cross-chain laundering, THORChain’s role, and separate, still-unproven claims of hidden Coinbase hacks.
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The U.S. has sanctioned seven TRON addresses tied to an alleged Tren de Aragua ATM jackpotting network, underscoring how TRON and USDT keep surfacing in illicit finance cases. The move highlights both crypto’s traceability and the ugly reality of how criminals exploit fast, cheap rails.
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September was a bloodbath for crypto security, with Bitget’s hot-wallet breach and a Liquid Network exploit driving roughly $766.5 million to $768.4 million in gross losses. Some funds were frozen or returned, but the month still exposed how brutally fragile wallets, vendors, and validation code can be.
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The CFTC has sent two prediction-market rule actions to White House review, aiming to separate legitimate event contracts from casino-style betting, even as courts split over whether these products count as swaps or fall under state gambling law.
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The CLARITY Act didn’t fail for lack of crypto support — it failed the Senate math, losing cloture 49-50 when 60 votes were needed. Stand With Crypto’s new endorsements may help in future races, but they don’t solve the bill’s real problem: hard votes, harder coalitions.
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A Bitcoin wallet untouched since 2011 just moved nearly 50 BTC, now worth about $3.2 million. The transfer is real, but the motive isn’t: it could be a sale, a custody shift, or a recovery of old keys—not necessarily a cash-out.
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Florida’s new stablecoin rule sounds simple: payment tokens must be backed 1:1. The real test is whether Florida can define reserves clearly, verify them properly, and enforce the rules hard enough to stop “backed by vibes” crypto nonsense.
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South Korea’s planned 22% crypto gains tax is back under fire as lawmaker Kim Sang-hoon pushes to delay it, arguing the framework is flawed and premature. The fight centers on fair enforcement, missing loss carryforwards, and whether the tax should even launch in 2027.
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