Crypto Weekly Roundup: IRS Delays Crypto Tax Reporting, Do Kwon Pleads Not Responsible, & Extra

The previous week in crypto noticed vital developments, together with the IRS delaying new crypto tax reporting guidelines till the top of 2024, offering centralized exchanges extra time to conform. In the meantime, Do Kwon, going through authorized challenges over the TerraUSD collapse, pleaded not responsible to fees and awaits extradition to the US after Montenegro denied South Korea's request. Discover out extra. 
Bitcoin
A Hong Kong lawmaker has proposed incorporating Bitcoin (BTC) into the area's nationwide reserves to boost monetary safety and place Hong Kong as a world crypto hub.
BlackRock's iShares Bitcoin Belief (IBIT) set a file as probably the most profitable ETF launch in historical past, surpassing $50 billion in belongings inside 11 months, dominating each spot and choices markets, and fueling Bitcoin's worth surge to an all-time excessive.
Altcoins
A brand new altcoin, Yeti Ouro (YETIO), is attracting curiosity as a result of its modern crypto-gaming mixture. 
With the Bitcoin worth flipping its 50-day Easy Transferring Common, specialists imagine that Wave 3 of the crypto bull market — also referred to as the “altseason” — has began. 
With a confirmed observe file in Web3 improvement, Blocksync has simplified the presale course of, offering the experience and instruments you should launch confidently.
For the Choise.ai ecosystem, 2024 was filled with huge strikes and loads of pleasure. It introduced collectively the B2C crypto banking app Choise.com (previously Crypterium) and the B2B crypto banking platform Vault.
Web3Bay prioritizes consumer privateness and safety, using IPFS (InterPlanetary File System) for decentralized information storage. 
Ripple (XRP) and Chainlink (LINK) traders are turning their consideration to a rising star: the DTX Alternate (DTX). 
Enterprise
The FTX debtors group has introduced that its chapter plan formally took impact on January 3, marking the start of an important step in reimbursing the bankrupt change’s collectors. 
Regulation
Do Kwon, the co-founder of Terraform Labs, has pleaded not responsible to all fees introduced in opposition to him for his position within the $40 billion TerraUSD stablecoin collapse. 
The IRS has delayed implementing new crypto tax reporting guidelines till December 31, 2025, granting centralized exchanges time to adapt to new rules and probably avoiding elevated tax liabilities for digital asset traders. 
Celsius Community has filed an attraction in opposition to a courtroom ruling that dismissed its $444 million declare within the ongoing FTX chapter proceedings, in search of to overturn the December choice by Decide John Dorsey, who disallowed Celsius’ claims as a result of procedural deficiencies and inadequate proof.
Montenegro has denied South Korea’s extradition request for Do Kwon, confirming the Terra Luna founder can be extradited to the US. 
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