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COPYRIGHT CLAIMS: Craig Wright, the controversial self-proclaimed creator of bitcoin, has filed registrations with the U.S. Copyright Office supporting his claims of authorship over the original bitcoin code and the Satoshi white paper. A press release sent to CoinDesk states: “In the future, Wright intends to assign the copyright registrations to Bitcoin Association to hold for the benefit of the Bitcoin ecosystem. Bitcoin Association ... supports BSV and owns the Bitcoin SV client software.” To be clear, registration does not imply ownership of copyright. The copyright process allows anyone to register anything in an effort to prepare, say, for lawsuits associated with ownership. Full story
TAX CLARITY: The U.S. Internal Revenue Service is working on its first tax guidance for cryptocurrency since 2014, the agency’s commissioner said Monday. In a reply to Rep. Tom Emmer’s request for further guidance on reporting cryptocurrencies, IRS Commissioner Charles P. Rettig outlined a non-specific plan to release in-depth guidance “soon.” “I share your belief that taxpayers deserve clarity on basic issues related to the taxation of virtual currency transactions and have made it a priority of the IRS to issue guidance,” Rettig wrote. Full story
ETF UPDATES: The U.S. Securities and Exchange Commission (SEC) has again delayed a decision on a bitcoin exchange-traded fund (ETF) proposal from the VanEck SolidX Bitcoin Trust. The regulator invited comments from the public, due 21 days from when the order is published in the Federal Register, and rebuttals to those comments, due 35 days after such publication. At the same time, NYSE Arca has formally applied to the SEC for a rule change that would allow it to list shares in a proposed bitcoin investment trust that would invest exclusively in bitcoin and short-term U.S. Treasury securities. Full stories here and here
TOKEN LAUNCHER: Bitfinex announced today its first foray into the increasingly popular business of initial exchange offerings (IEOs). A new service from the exchange, called Tokinex, will announce its first token launch this Thursday, followed by the debut of a second token on June 13. “What it means to be an exchange has evolved alongside the maturing crypto market. It has become an entire ecosystem, not just limited to the remit of trading digital assets,” said Jean Louis van der Velde, CEO of Bitfinex and Ethfinex. Full story |
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| OUT OF STEAM? The path of least resistance for bitcoin still appears to be on the higher side. After all, the cryptocurrency has registered double-digit gains for three consecutive weeks – a feat last seen at the height of the bull market in 2017. However, the bulls looks exhausted, having failed three times in the last seven days to engineer a sustained move above $8,300. That, coupled with a bearish candle pattern on the daily chart, suggests scope for a pullback to $7,000 in the short term. Full story |
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BEST OF THE BEST
HIGH SOCIETY: "In his Midtown office, with weed paraphernalia on every shelf, he kept three bongs on his desk — and was toking from one as he met the millionaires." That's the New York Post's rather cinematic description of a young Charlie Shrem's first 2012 encounter with Winklevoss brothers in a preview of "Bitcoin Billionaires ," Ben Mezrich's just-released book chronicling the squared-jawed twins' adventures in crypto-land.
THE REST
JAPAN BILL: In-the-works Japanese legislation on cryptocurrencies has been moved to the House of Councilors, the upper house of the nation’s parliament or diet, according to Nikkei. The bill is aimed to tighten regulations covering cryptocurrency trading, as well as change the legal name for “virtual assets” to “cryptographic assets.”
SCAM WARNING: The Australian Securities and Investments Commission has warned investors of a possible crypto scam called Dartalon Ltd. Also using the name GFC Investments, the firm purportedly offers trading in forex, contracts-for-differences and cryptocurrencies, Finance Magnates reports.
RIPPLE REMITTANCES: One of Saudi Arabia’s biggest banks, SABB, has teamed up with Indian bank IndusInd to open a remittance corridor between the two nations using blockchain technology from Ripple. Ripple said on its website that SABB believes that one of the key advantages for customers is the tracking and transparency of the technology. |
WHO WON #CRYPTOTWITTER  |
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