698:G20 Global Plans and IRS vs Coinbase Standoff

Episode 698:
G20 Crypto Mandate - The G20 Finance Ministers and Central Bank Governors have adopted a crypto regulation roadmap. Backed by the IMF and FSB, the roadmap aims for global governance in crypto but raises concerns about stifling innovation and decentralization.

IRS Tax Plan Backlash - Coinbase has publicly opposed the IRS's new proposal for crypto taxation, calling it invasive and damaging to the industry. The IRS cites tax revenue losses, but the standoff points to deeper issues about privacy and government control.

Terraform vs Citadel - Terraform Labs is in a legal battle with Citadel Securities, accusing them of manipulating the UST stablecoin. The case has far-reaching implications for both the crypto industry and traditional financial markets.

CBDC Alert (China) - China is pushing its Central Bank Digital Currency, focusing on security and abuse prevention. However, despite incentives, adoption rates remain slow, highlighting the global skepticism towards centralized digital currencies.

CFTC Takes on Voyager - The CFTC and FTC have filed lawsuits against former Voyager Digital CEO Steve Ehrlich for fraud and false FDIC claims. This case serves as a cautionary tale about the necessity for regulatory oversight in the crypto space.

Cherry-picking Scheme Busted - The Department of Justice has charged Peter Kambolin with a "cherry-picking scheme" involving crypto futures. This landmark case serves as a warning against fraud and emphasizes the need for decentralized systems.

Crypto Overnighter Podcast (10/132023): Welcome back to the Crypto Overnighter with your host, Nikodemus. We provide nightly updates on cryptocurrency, NFTs, the metaverse, and the surrounding industry. Remember, this show does not offer financial advice.

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