Illinois backs delay to crypto tax rule after months of industry pushback
Illinois officials have joined crypto industry groups in seeking a six-month delay to the state’s controversial digital-asset tax. The agreed motion, filed Oct. 1 in Sangamon County, asks a judge to postpone the levy’s Jan. 1 start until July 1, 2027,…
Bankers sue to overturn OCC trust-bank rule used by crypto firms
The Independent Community Bankers of America sued the OCC in federal court in Washington on Oct. 2, two weeks after the agency approved Agora National Trust Bank, Catena Trust Bank and Bastion Platforms. American Banker reported that the complaint asked…
ECB opens merchant applications for controlled 2027 digital euro pilot
The European Central Bank has opened applications for online merchants to join a controlled pilot of the digital euro, its proposed retail central bank digital currency. The move brings the 2027 test closer to online checkout, but it does not put an…
Tether, Binance and a $1.5 billion Iran oil network converge in new US forfeiture case
US prosecutors are seeking to seize $61 million in Tether’s USDT tied to alleged black-market Iranian oil sales. On Sept. 14, the US Attorney’s Office for the Southern District of New York filed a civil forfeiture complaint targeting approximately 61.2…
How 4,100 stolen Bitcoin bankrolled a life of private jets and supercars
Malone Lam pleaded guilty to leading a crypto theft enterprise that prosecutors say stole and laundered more than $245 million. The 22-year-old Singapore citizen admitted Tuesday in Washington to participating in a racketeering conspiracy, marking a…
How recovery of 61 BTC unlocked a potential $432M treasure hunt for early Bitcoin users
CEL Solicitors says it has traced more than 5,500 BTC that it believes belong to former users of Intersango, an early Bitcoin exchange that disappeared more than a decade ago. At Bitcoin’s current price near $78,824, those coins carry a value of roughly…
Everyday crypto users face monthly tax bills on total asset value if covered brokers fail to collect under new Illinois rules
Illinois’s 0.2% digital asset tax, scheduled to start Jan. 1, 2027, now faces another industry complaint as brokers prepare for a levy tied to the value of customer assets rather than their gains or service fees. Blockchain Association and the Crypto…