Crypto.com Launching Legal Action Against SEC, HBO Found Bitcoin Creator Satoshi Nakamoto - Week of Oct 11, 2024
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HBO Documentary Suggests Bitcoin Creator?
Satoshi Nakamoto is Peter Todd
The new HBO documentary “Money Electric” suggests that the creator of Bitcoin is Peter Todd, an early Bitcoin core developer. Todd denied the claim?immediately after the film aired, posting "I'm not Satoshi" on X.?
The documentary's big reveal sparked significant debate and skepticism, with many community members taking to X to criticize and debunk the film's conclusions as they had done in the past regarding similar supposed unveiling.
Ahead of the film airing, the decentralized?prediction platform?Polymarket had generated over $20 million in volume as users speculated who the documentary would suggest was Nakamoto. The top frontrunners included Len Sassaman, Nick Szabo, Adam Back, and David Kleiman. At one point in the day Sassaman, Szabo, and Back were all essentially tied with each scoring a probability of being named of about 8%. Todd was not named as a contender by Polymarket users.
Bitcoin's pseudonymous creator seemingly remains a mystery for now, with many advocates arguing it should stay that way.
?? U.S. Policy & Regulation
Crypto.com Launching Legal Action Against SEC
Crypto.com is launching a legal battle against the US SEC following the exchange’s receipt of a Wells notice from the agency.?
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Crypto.com specified that its lawsuit?contends?that the SEC has “unilaterally expanded its jurisdiction beyond statutory limits.”
“This unprecedented action by our company against a federal agency is a warranted response to the SEC’s regulation by enforcement regime, which has hurt more than 50 million American crypto holders,” Kris Marszalek, co-founder and CEO of Crypto.com wrote on X.
Marszalek also promised that the company would use “all regulatory tools available” to bring certainty to the industry through proper rulemaking. Crypto.com has also petitioned the US CFTC and the SEC to confirm categorizing crypto derivative products.
?? International Spotlight
UAE Removes Value-Added Tax on Crypto Transfers and Conversions
The UAE has exempted cryptocurrency transfers and conversions from value-added tax (VAT), positioning itself as a more crypto-friendly jurisdiction for digital asset transactions.
According to PwC, the new rules include VAT exemptions for additional services, including managing investment funds and transferring and converting virtual assets. The exemptions in the transfer and conversion of virtual assets will be applied retrospectively from Jan. 1, 2018. The auditing company advised businesses dealing with virtual assets to analyze the exemption on their retrospective VAT position. PwC added that virtual asset firms should pay special attention to their input tax recovery.?
Apart from VAT exemptions, regulators in the UAE have recently been streamlining and updating their rules on virtual assets.? On Sept. 9, Dubai’s Virtual Asset Regulatory Authority (VARA) and the Securities And Commodities Authority (SCA), the UAE’s federal financial agency,?agreed on mutually supervising?virtual asset service providers (VASPs)?
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4 个月Makes for an interesting week!!