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Internal Revenue Service in U.S. solicits public opinions on proposed NFT taxes

The IRS intends to tax NFTs as collectibles in the U.S. and is soliciting public opinions on the proposal through June.

Bitcoin held above US$28,000 on Wednesday morning in Asia amid a rebound in most top 10 non-stablecoin cryptocurrencies. XRP led the winners.

Terraform Labs co-founder Shin Hyun-seung, also known as Daniel Shin, was again called in for questioning by South Korea’s prosecutors on Monday.

The fall of Silvergate, SVB and Signature has left crypto firms scrambling for new banks. Will crypto banking head offshore for the long term?

Bitcoin traded flat below US$28,000 on Tuesday morning in Asia. Most other top cryptocurrencies retreated ahead of a U.S. decision on interest rates.

Crypto in Taiwan remains largely unregulated, but lawmakers have requested the cabinet to appoint a regulator by May 16 to oversee all things crypto.

Signum Digital said it’s the first company to win preliminary approval in Hong Kong to operate a platform to trade security tokens.

South Korean prosecutors said they will expand cooperation with overseas legal agencies to facilitate the arrest and extradition of Do Kwon.

Former employees of Do Kwon’s Terraform Labs are being questioned by the FBI and U.S. prosecutors in New York.

In the race to tame crypto’s excesses, we need to avoid regulatory clashes while DeFi draws lessons from TradFi, writes Rachel Lin of SynFutures.