BITCOIN

The U.S. Securities and Exchange Commission (SEC) has charged the team behind Coindeal, a $45 million fraudulent crypto investment scheme. The regulator explained that the defendants falsely claimed that Coindeal “would generate investment returns of more than 500,000 times for investors.” SEC Takes Action Against Coindeal Crypto Fraud The U.S. Securities and Exchange Commission (SEC) announced Wednesday that it has charged the creator of crypto investment scheme Coindeal and seven others in connection with the $45 million fraud. Describing Coindeal as “a brazen and far-reaching unregistered offering fraud conducted between at least 2018 and 2022,” the securities regulator detailed: Coindeal … raised more than $45 million from sales of unregistered securities to tens of thousands of investors worldwide. The SEC explained that creator Neil Chandran and promoters Garry Davidson, Michael Glaspie, Amy Mossel, and Linda Knott “falsely claimed that investors could generate extravaga...

A top Internal Revenue Service (IRS) official says, “Cryptocurrency is here to stay,” and “it’s becoming more legitimate.” The official added that the U.S. tax authority is looking to partner with crypto companies, noting: “I don’t see how we can operate in this space without it.” Top IRS Official Says Crypto Is Here to Stay Thomas Fattorusso, acting special agent-in-charge of the Internal Revenue Service-Criminal Investigation (IRS-CI)’s New York office, talked about cryptocurrency in an interview with The Wall Street Journal earlier this week. “We can’t be hostile to the technology. We have to embrace it,” the IRS official emphasized, elaborating: Cryptocurrency is here to stay. As far as I’m concerned, it isn’t going anywhere anytime soon and it’s becoming more legitimate. As the years roll on, it becomes more sophisticated. Fattorusso explained that the IRS is looking to partner with crypto companies. “My thought is that those relationships will develop as the years go on a...