Key Points
Justice Department gets approval to sell seized Bitcoin
UK Treasury to exclude crypto staking from investment scheme rules
Judge approves Coinbase's appeal, halts SEC lawsuit
A federal judge has approved the Justice Department’s sale of tens of thousands of bitcoins seized in the government’s largest cryptocurrency forfeiture operation. The decision ends a legal dispute over 69,370 bitcoins tied to the Silk Road darknet marketplace. Historically, seized cryptocurrencies have been sold at auction by the U.S. Marshals Service, and recent wallet movements suggest another sale is in the works. The sale comes as President-elect Donald Trump has called for a national bitcoin reserve, emphasizing the importance of preserving government-held crypto assets. The sale could impact cryptocurrency markets in the coming months.
The UK Treasury has amended the Financial Services and Markets Act 2000 (FSMA) to exclude cryptocurrency staking from the classification of collective investment schemes. The amendment, which came into effect on January 31, recognizes that staking (including staking of Ethereum and Solana) is a process of blockchain verification rather than a collective investment vehicle. The change provides regulatory clarity and promotes innovation in the cryptocurrency industry. Industry experts including Bill Hughes of Consensys praised the move, emphasizing that staking supports network security rather than acting as an investment scheme. The amendment is consistent with the UK's broader cryptocurrency strategy, encouraging growth while maintaining appropriate regulation.
A New York district court granted Coinbase's request for an interlocutory appeal, temporarily halting the SEC's lawsuit against the cryptocurrency exchange. Judge Katherine Polk Failla's ruling allows the Second Circuit Court of Appeals to review key legal questions about whether the Howey Test applies to crypto assets. The SEC sued Coinbase in 2023, accusing it of operating as an unregistered exchange, broker, and clearing agency. Coinbase's appeal argued that there are significant disagreements about the relevance of the Howey Test to cryptocurrencies. The ruling marks an important moment in the ongoing legal debate over cryptocurrency regulation in the United States.
news
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product
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South Korea’s Jeju Island will reportedly issue NFT tourist cards to attract Gen Z tourists
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Reddit avatar NFT holders worry about project’s future as leadership exits
Regulation
Ethereum and Solana Staking No Longer Classified as Collective Investment Schemes in the UK
New York judge grants Coinbase 's interlocutory appeal motion, halts SEC case
Russia Strengthens Its Crypto Regulation with New Regulations
Bybit Exchange Suspends Services in India Due to Regulatory Pressure
funds
Exclusive: Movement Labs closes $10 billion Series B as crypto markets heat up
Crypto data platform SoSoValue raises $15 million in new funding to launch multi-currency index
Solana prepares for 2025 rebound, Fetch.ai launches $10 million fund: Finance Reg
Crypto Advocates Call on Swiss National Bank to Hold Bitcoin Reserves
