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Peirce’s former counsel, Richard Gabbert, picked up the force’s chief of staff role, while Uyeda’s former policy adviser, Taylor Asher, was made the group’s chief policy adviser.
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Last month, acting chair Uyeda announced some of the force’s staff, which named Landon Zinda, the former policy director of crypto advocacy organization Coin Center as a senior adviser.
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In a statement, Peirce said the crypto force “exhibits deep expertise and an enthusiastic commitment to identifying — with the help of other talented staff across the Commission and interested members of the public — workable solutions to difficult crypto regulatory problems.”
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Also of note is Peirce’s former policy counsel, Sumeera Younis, who was named the task force’s operations chief.
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The US Securities and Exchange Commission also filed a fraud suit against Gotbit and Kedrov in October.
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The charge of conspiracy to commit market manipulation and wire fraud charges also carry a sentence of up to five years in prison.
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Some in the industry have mixed feelings about nation-states creating BTC reserves, as it could contribute to centralization and market manipulation.
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Solana has been honing the infrastructure necessary for this all year — Pump.fun forced the upgrades and fixes required to make it ready for mass adoption. The ETF approval will help Solana shed its “memecoin” reputation. Solana has all the potential — all it needs is the institutional trust to achieve it.
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Today in crypto, a cryptocurrency endorsed by Argentine President Javier Milei turned into a financial catastrophe after insiders staged a rug pull, the New York Stock Exchange has proposed allowing Grayscale to stake Ether within its spot Ether ETFs, and the US Securities and Exchange Commission’s Crypto Task Force is actively meeting with digital asset firms to discuss regulatory frameworks for the industry.
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Showcasing the crypto industry’s backlash, the Blockchain Association filed a lawsuit against the IRS in December 2024, arguing that the rules are unconstitutional because they include decentralized exchanges under the “broker” term, extending data collection requirements to them.
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This decision could push crypto investors to decentralized platforms in a “paradoxical situation” that could make tax revenue harder to track, Anndy Lian, author and intergovernmental blockchain expert, told Cointelegraph.
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Starting in 2025, centralized crypto exchanges (CEXs) and other brokers will start reporting the sales and exchanges of digital assets, including cryptocurrencies
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The investigation into Morehead comes amid increased regulatory scrutiny of cryptocurrency taxes. In June 2024, the Internal Revenue Service (IRS) issued a new rule requiring US crypto transactions to be subject to third-party tax reporting for the first time.
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Tesla first bought crypto in February 2021 and built up a stash of 42,902 Bitcoin until it sold 75% of its holdings in July 2022, with the sale of more than 30,000 Bitcoin fetching $936 million.
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In the last 12 months, Tesla’s share price is up 103.79%, having hit an all-time high of $479 on Dec. 17.
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Total third-quarter operating expenses came in at $2.59 billion, marking more than a 9% increase from last quarter.
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The electric car maker also missed projected profits, reporting an earnings per share of $0.73 compared to analysts’ $0.76 EPS estimate.
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Tesla saw its fourth-quarter earnings and profit miss Wall Street estimates, with reported total revenues of $25.71 billion, a 2% year-on-year increase but slightly below analysts’ estimates of $27.22 billion.
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Overall, Tesla reported a GAAP income of $2.3 billion in the fourth quarter, boosted by the $600 million from its Bitcoin holdings.
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Without the rule change, the recorded value could not increase until the assets were sold, even if the value of the holdings went up.
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