Episode Details

03rd July: Crypto & Coffee at 8 🎙️
🔴 SEC Dismisses Spot Bitcoin ETF 🔵Kraken Digital Asset Exchange: User Data to IRS 🟠 Celsius Network: Converts altcoins into BTC or ETH

🔵 U.S. Securities and Exchange Commission has dismissed the latest Spot Bitcoin ETF Applications as Inadequate What does it mean for the price of #BTC & #cryptocurrency? What is the procedure and what happens next?

🔥 The Wall Street Journal has reported SEC Says spot Bitcoin ETF filings are Inadequate. As per the article, the Regulator tells Nasdaq, Cboe Global Markets that applications from BlackRock, Fidelity Investments and others aren’t clear and comprehensive. Article here https://lnkd.in/ddpYk8c4

❗ It’s important to note. A spot Bitcoin ETF does not yet exist in the U.S. because the SEC has been reluctant to approve one. And the SEC claims that the price of Bitcoin being open to manipulation is one of the main reasons.

🎙️ Check out Blockchain DXB’s crypto & coffee at 8 podcasts where we share our thoughts & opinions on this & more

🟠 Kraken Copywriter Digital Asset Exchange has been ordered by the court to disclose user data to IRS for tax compliance & is required to provide details of users who engaged in transactions exceeding $20,000 within a calendar year. Official order by the United States District Court Northern District of Columbia here https://lnkd.in/d_WqWGk6

🔸 The details required are names (real or pseudonyms), birthdates, taxpayer identification numbers, addresses, phone numbers, email addresses and various other documents. Cointelegraph has reported that Kraken will be required to release blockchain addresses and transaction hashes, which are already included in the transaction data available for sharing. The exchange may also be asked to provide raw data to the IRS. Article here https://lnkd.in/dWYNUK2A
 

🚨 Celsius Network can now convert altcoins into BTC or ETH. The United States Bankruptcy Court for the Southern District of New York has approved bankrupt crypto lender Celsius Network’s plan to convert its altcoins into Bitcoin BTC or ETH

❗ What does it mean? Cointelegraph states the liquidations will pave the way for the distribution of the funds to credi