Bitcoin ATM facilities have marked a new comeback. Since in June 2022 the five-month downward trajectory was reversed for the first time this year.
Global ATM installations around the world fell steadily throughout the year. And in May the lowest number of 205 ATM installations was recorded. However, in June, more than 882 ATM installations were registered in just the first ten days.
Cryptocurrency ATM installations peaked in 2021, and in December 1971 ATMs were installed in one month. However, up to June 2022, the figures fell by 89.75% in May, which was followed by a rapid recovery in the following month.
According to the scale from Coin ATM Radar measurement, from Bitcoin ATM installation which is based on the data collected in the last two months, almost 23 cryptocurrency ATMs are being installed every day around the world.
Alleged withdrawals of USD 80 million by Do Kwon before the fall of Terra divide the community
The news that the founder of Terra (LUNA2), Do Kwon, allegedly withdrew USD 80 million monthly before the project collapsed came to light on Friday. Which prompted community members to voice their opinions on the matter.
In a tweet, cryptocurrency trader and analyst Michaël van de Poppe said Kwon deserves to be jailed. He compared the CEO of Terraform Labs to the infamous fraudster Bernie Madoff. “Honestly, he deserves jail,” Van de Poppe wrote.
Twitter user DaisiObanla also agreed with Van de Poppe. According to DaisiObanla, he wants to hear the news that Kwon is sentenced to 150 years in prison without parole. In addition, the footballer Nicolas Boulay also intervened, writing that the Terra executive “needs to feel the anger of the community.”
While there are many calling for jail, some disagree with the sentiment. Presidentbodhi tweeted that he disagrees, saying that “no one puts casino owners in jail,” hinting that investing in the asset was a gamble. Following this, tweeter Andrew also said that Kwon had not done anything that violated the criminal code.
Coin Center sues the U.S. Treasury Department UU. over ‘unconstitutional’ tax return rule
The Center for cryptographic studies Coin Center present a lawsuit against the U.S. Treasury Department UU. and the Internal Revenue Service on Friday, alleging that a crypto tax filing requirement enshrined in a 2021 infrastructure law is “unconstitutional.”
The requirement, which will take effect in 2024, requires U.S. taxpayers who receive more than $10,000 in cryptocurrency to report the sender’s social security numbers and other personal information.
The provision was one of several included in a 2021 infrastructure bill. Which also included a controversial crypto tax filing requirement that applied to brokers. That provision provoked a massive backlash from the industry, although it was ultimately unsuccessful.
According to the lawsuit, Coin Center is concerned that these rules require Americans to store sender information for up to a year in case a given set of transactions can be considered “related”, if the total eventually reaches $10,000 or more.
Samsung Asset Management to launch blockchain ETF in Hong Kong
Hong Kong-based Samsung Asset Management (SAMHK), a local subsidiary of Samsung’s investment arm, is moving forward with a blockchain-themed exchange-traded fund (ETF).
The company expects to launch its Samsung Blockchain Technologies ETF on the Hong Kong Stock Exchange on June 23, SAMHK announced on Thursday.
The ETF aims to achieve long-term capital growth by investing in shares of companies that are actively involved in the development and adoption of Blockchain technologies, under the presentation of the fund. The fund will invest in blockchain-related research and development companies, data providers, sector investment firms and others.