After Samourai, DOJ’s money-transmitter theory now looms over crypto mixers

A proposed bill in the United States would allow Americans to pay their taxes to the IRS using Bitcoin (BTC). The tax revenue collected in Bitcoin would be directed into a strategic BTC reserve, and this payment method would not trigger a taxable event for the payer.

A Congressman has introduced a bill that would allow Bitcoin tax payments and support the establishment of a strategic Bitcoin reserve in the United States. This initiative aims to enhance financial security, diversify assets, and maintain the country's global leadership in cryptocurrency.

21Shares, a prominent crypto ETF issuer with $8 billion in assets, has expanded its offerings in Europe by listing six new cryptocurrency exchange-traded products (ETPs), including Aave and Chainlink. This move comes as the market sees a surge in new crypto ETFs in the US, reflecting growing investor interest in digital assets.

21Shares, a leading crypto ETF issuer with $8 billion in assets, has expanded its offerings in Europe by listing six new cryptocurrency exchange-traded products (ETPs), including Aave and Cardano. This move comes amid a growing trend of new crypto ETFs being introduced in the US market.

US spot Bitcoin ETFs recorded $75 million in inflows after a five-day period of redemptions, indicating early signs of stabilization as Bitcoin's price recovers above $92,000. This marks a significant rebound from recent market volatility.

William Hill, co-founder of the cryptocurrency mixer Samourai Wallet, was sentenced to four years in prison on November 19 for his involvement in facilitating illegal transactions. This follows a previous sentence given to co-founder Keanne Rodriguez, who received five years for similar charges. The U.S. Attorney's Office stated that their actions contributed to a $230 million illicit transaction scheme.

Cardano founder Charles Hoskinson had previously predicted that Bitcoin could reach $250,000 this year, citing favorable international negotiations as a catalyst for growth. However, recent market fluctuations have cast doubt on this forecast, as Bitcoin's price has significantly declined from its previous highs. Analysts are now warning that the bear market may just be beginning.

Analysts assert that the recent decline in Bitcoin's value should not be attributed to the US government shutdown or advancements in artificial intelligence. An onchain analyst noted that similar price drops in the past have often led to subsequent increases in Bitcoin's value, suggesting a potential for recovery.