Key Points | Mar. 15, 2024 | Craig is Not Satoshi, Judge Rules | BitPinas

Key Points | Mar. 15, 2024 | Craig is Not Satoshi, Judge Rules | BitPinas

Time Stamp: March 14, 2024 9:30 PM
Source Node: 2515293

Welcome to BitPinas Key Points: Easily digestible news in concise formats for easy reading. Let’s check the latest crypto news stories in the last 24 hours in the Philippines and abroad.

Table of Contents

Crypto Price Update

Photo for the Article - Key Points | Mar. 15, 2024 | Craig is Not Satoshi, Judge Rules

Market News

Bitcoin stays at the $72,000 level although it did go below $69,000 in the past 24 hours. Here’s the (non)financial advice of Rekt Capital:

Craig Wright is not Satoshi Nakamoto – Judge Rules

U.K. Judge James Mellor rules Craig Wright is not Satoshi Nakamoto nor the author of the Bitcoin whitepaper. The month-long trial’s evidence against Wright is described as “overwhelming.”

Mellor plans a detailed ruling, asserting Wright had no involvement in the creation or initial development of Bitcoin.

The ruling includes four key declarations:

  • Wright is not the Bitcoin whitepaper author.
  • Wright did not operate under the pseudonym Satoshi Nakamoto from 2008 to 2011.
  • Wright did not create the Bitcoin system.
  • Wright is not the author of the initial Bitcoin software versions.

COPA sued Wright in 2021 to prevent him from claiming Bitcoin’s intellectual property rights and suing the crypto community. The lawsuit is backed by industry leaders, including Twitter’s Jack Dorsey and Coinbase.

COPA views the ruling as a victory for developers, the open-source community, and truth, condemning Wright’s intimidation tactics.

Wright declines to comment on the trial’s outcome.

Regulation

  • The Financial Services Authority (OJK) in Indonesia has issued new regulations effective from January 2025, aimed at implementing technological innovation in the financial sector, including cryptocurrencies. 
  • India’s market regulator, the Securities and Exchange Board of India (SEBI), is set to introduce instant trade settlements by the end of March, aiming to match the efficiency of cryptocurrency transactions. 
  • Thailand has approved tax exemptions for crypto earnings, aiming to eliminate double taxation for investment token holders and foster a more favorable environment for fundraising through digital assets. 
  • US President Joe Biden’s fiscal 2025 budget proposal includes new taxes and regulations for cryptocurrencies, notably introducing a 30% excise tax on the electricity costs of mining digital assets.
  • South Africa’s Financial Sector Conduct Authority (FSCA) aims to license about 60 cryptocurrency platforms by March’s end, reflecting the country’s proactive stance on regulating the growing crypto sector. 

DeFi

  • The price of Ether (ETH) remained close to $4,000 as the Deneb-Cancun or Dencun upgrade, a set of network enhancements, was activated on March 13, 2024.
  • OKX’s Singapore subsidiary has secured in-principle approval from the Monetary Authority of Singapore for a payments license, enabling the exchange to offer digital payment tokens and cross-border money transfer services in Singapore.
  • The total value locked (TVL) in DeFi has surpassed $100 billion, driven by the cryptocurrency market’s growth to over $2.7 trillion and the increasing adoption of Ethereum-based liquid staking derivatives (LSDs).

Web3 Gaming

  • Arbitrum introduces the Gaming Catalyst Program (GCP), seeking 200 million ARB tokens to enhance its web3 gaming development. The initiative aims to support developer onboarding and high-quality game builders while evolving into a comprehensive gaming ecosystem.
  • Japanese web3 gaming company Double Jump.tokyo collaborates with Dentsu, Septeni Global, Septeni Incubate, and SHINSEKAI Technologies to launch the Web3 Gaming Booster initiative, aimed at promoting and expanding the native web3 gaming industry in Japan.

Noteworthy

  • Crypto.com faces a significant fine of $3.1 million from the Dutch central bank for operating without registration in the Netherlands, violating regulations designed to prevent money laundering and terrorist funding.

Upcoming BitPinas Webcast

Photo for the Article - Key Points | Mar. 15, 2024 | Craig is Not Satoshi, Judge Rules

In this webcast, we will be joined by regular BitPinas collaborators Kookoo Crypto, Crypto4chun, and Henry Banayat to discuss the topics of the day.

What’s happening in Ronin? As $RON reaches an all-time high, we talk to entrepreneur and content creator Kookoo Crypto TV on the factors contributing to the increased interest in the Ronin blockchain and the games built on top of it.

This article is published on BitPinas: Key Points | Mar. 15, 2024 | Craig is Not Satoshi, Judge Rules

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