UK Says Yes To Crypto✅, Poland Says No ❌
How’re you hodling up, Guys? 😁
We’re back with it because history was made across the pond this week as King Charles put his royal stamp on some paper to give crypto the legal glow-up it deserves, and now crypto hodlers across the empire are about to feel a whole lot more secure.
Meanwhile, Poland's taking the rebellious route, having pulled a 51% attack on the EU consensus as Brussels tried to push MiCA through, but Warsaw's validators aren't having it. President Duda has gone "veto”, and the lawmakers couldn't reach a quorum to override.
And in the smart contract of consequences department, Do Kwon's just about to learn that rugging a $40 billion ecosystem comes with some serious gas fees, like 12 years behind bars, seriously. The DOJ's using the SBF sentence as proof-of-stake. 🧐
Here are the Highlights:
- UK Passes Law Formally Recognizing Crypto as Property
- Poland Stand Strong and Alone In Defiance of EU MiCa Crypto Rules
- Trump DOJ Wants Terra Founder Do Kwon Behind Bars for 12 Years, Citing SBF Sentence
- Binance Pushes Back Against Meme Coin Shilling Allegations
UK Passes Law Formally Recognizing Crypto as Property
The U.K. now formally recognizes cryptocurrency as property following the passing of a new law this week. The Property (Digital Assets etc) Act received Royal Assent, the final step of an act becoming law after being passed by Parliament. The act, approved by King Charles on Tuesday, was designed to modernize property law to take account of digital assets. Previously, property fell into one of two categories: things in possession, such as physical objects, and things in action, such as debt. The law establishes a third category that includes digital assets such as cryptocurrencies and non-fungible tokens (NFTs).
Trump DOJ Wants Terra Founder Do Kwon Behind Bars for 12 Years, Citing SBF Sentence
The Department of Justice is asking a federal judge to sentence Do Kwon to 12 years in prison—the maximum sentence prosecutors reserved the right to pursue after the Terra founder pleaded guilty this summer. Though Kwon is technically eligible to serve 25 years in federal prison, the DOJ promised in August that it would only seek up to 12 years as part of a deal reached to encourage Kwon to forgo a jury trial and admit to two crimes: conspiracy to defraud, and wire fraud.
Binance Pushes Back Against Meme Coin Shilling Allegations
Crypto exchange Binance denied allegations that it was promoting new meme coins after several tokens appeared to mimic phrases from its social media posts. Binance co-CEO Yi He said creators are simply copying public messaging to exploit momentum, stressing that the firm's employees are barred from issuing or endorsing assets. The exchange has launched an internal review as it seeks to separate its corporate communications from the fast-moving meme coin ecosystem.
Poland Stand Strong and Alone In Defiance of EU MiCa Crypto Rules
Poland's crypto industry scored a major win this week, as plans to move ahead with new crypto rules stalled on Friday after lawmakers failed to override President Andrzej Duda’s veto. The setback slows Prime Minister Donald Tusk’s effort to align national policy with the European Union’s MiCA framework. The Sejm, Poland’s lower house, fell 18 votes short of the three-fifths majority needed to reverse the president’s decision. With the veto standing, Tusk’s coalition must restart the entire process if it wants to establish a formal regulatory system for digital assets.
European Crypto Scam Network Dismantled After Laundering $815M - Coindesk
Binance Secures Three Abu Dhabi Licenses Months After $2 Billion MGX Deal - Yellow
Indiana Lawmaker Pushes for Bitcoin in Pensions, Crypto Payment Protections - Decrypt
International operation busts crypto fraud network that laundered more than $815 million - The Block
COINIGY FACT OF THE DAY.
On this day in 2017, Bitcoin closed at $16,569
On this day in 2017, Bitcoin closed at $16,569, experiencing a dramatic 6.9% drop as the cryptocurrency approached its historic all-time high. This occurred just days before Bitcoin would peak at approximately $19,000 on December 17, 2017, marking the climax of the year's unprecedented bull run that saw Bitcoin gain over 1,300% throughout 2017. The volatility on December 8th foreshadowed the market turbulence that would follow, as Bitcoin would enter a prolonged bear market in 2018.
COINIGY MEME OF THE WEEK
