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The chair of the US House Financial Services Committee, Republican Patrick McHenry, blasted the Biden administration’s new crypto tax proposal, helping to set up a forthcoming political battle. Meanwhile, an autographed Arsenal team jersey NFT will be auctioned for charity, $15 million of Pepe tokens are said to have been stolen, and FTX freezes some user accounts after a hack of Kroll, a bankruptcy claims agent. Read on!
Here are some stories we’re looking at right now.
Crypto tax rules proposal ripped
Chair of the US House Financial Services Committee Patrick McHenry said in a statement that the Biden administration’s new proposal for crypto tax regulations was part of an “ongoing attack on the digital asset ecosystem.”
The North Carolina Republican said the proposal lacks clarity. Crypto exchanges may be required to report customer information to the IRS under the proposal.
Arsenal jersey NFT auction set
Vacation club platform Staynex will auction for charity an autographed Arsenal team jersey as a physical NFT on the DefiSports marketplace, it said in a news release.
The event will feature an actual jersey signed by all Arsenal players, also represented as a unique NFT. Fans and collectors can bid on the prize, with all proceeds going to charity.
Pepe tokens said to be stolen
Three former team members behind the Pepe memecoin stole about $15 million worth of tokens from the project’s multisig wallet, then sold them on crypto exchanges and deleted their social accounts, according to a remaining member, The Block reported.
The remaining team member said in a post on the X social media platform: “I am shocked at what took place and would like to apologise for all of the fear and uncertainty and any losses the actions of these bad actors have caused members of our community.”
Binance P2P delists Russian banks
The Binance crypto exchange peer-to-peer service has cut ties with five sanctioned Russian banks, Crypto.News reported.
It said the decision came after the Wall Street Journal reported last week that Binance was helping Russians move money out of the country.
FTX freezes accounts after Kroll hack
Bankrupt crypto exchange FTX has temporarily frozen “affected user accounts within the customer claims portal” as a protective measure after a hack of Kroll, a bankruptcy claims agent.
Some FTX customer data was compromised in the cyber breach of Kroll, a company that manages creditor claims for bankrupt companies.
What we’re reading around the web
Sweeping U.S. Tax Proposal Met With Boos From Crypto World — CoinDesk
CoinShares CEO: We can beat the big firms on our own turf — DL News
If Chinese crypto holders sneeze, will global markets catch a cold? — Forkast