US government is using "Law" to criminalize crypto

     Crypto platforms, traders, developers are being targeted for helping terrorists, money laundering, tax evasion blah..blah.

  Previously, just the SEC posed a concern, but now all authorities are targeting the crypto industry in the United States.

 Now you know why the Biden administration did not act on widespread clamour to dismiss Gary Gensler. Because that was the pilot project of the White House's Black War on crypto industry.

Modern IRS or Political Bandit?

  The IRS is in the process of being modernized in the USA, with Treasury Secretary Janet Yellen praising the work of the IRS.

   The only thing that seemed positive about it was providing a free public option for eligible taxpayers to file federal returns directly with the IRS. Apart from this, it seemed that efforts were being made to collect maximum taxes.

  Crypto Industry is going to be big target, we already know how US govt is attacking almost everything.

OTHER NEWS

WALLET 

Wasabi Wallet to Shutdown Coinjoin

  Wasabi Wallet announced shutting down its coinjoin coordination service.

  Relax, Wasabi Wallet isn't shutting down, it will keep working like ordinary wallet. There will be no coinjoin coordination service after June 1st, 2024.

Block under Investigation

    US agencies are now investing Crypto firm Block, after a former employee presented 100 pages of documents demonstrating that the company facilitated transactions with countries subject to US sanctions. What's more interesting is that - Block was started by Twitter co-founder Jack Dorsey. Edward Siedle (a former SEC lawyer) represents the employee.

KuCoin's 18th Proof of Reserves

   Crypto exchange platform, Kucoin, has announced the 18th POR (proof-of-reserves). The data for the POR is based on April 30th. All assets are backed by reserves in a 1:1 ratio.

For example, Bitcoin Reserve is

• User Assets:12,187.58510279 BTC
• KuCoinAssets:13,895.94546711 BTC

EARN 

Gate io Startup Initial Free Offering (Airdrop) 

• $30k Airdrop of CTOK token : CTOK is native token of Codyfight, a Skill to Earn based GameFi. Duration is May 13 to 15.
• $70k Airdrop of SPEC token : SPEC is native token of Spectral Labs, a Web3 generator of autonomous onchain agents. Duration is May 4 to 6.