Celsius Network, a cryptocurrency lending platform, might need to secure a fresh vote from creditors for its planned shift to a Bitcoin mining venture, as a U.S. bankruptcy judge suggested in a recent court session.

The crypto lender provided details on Thursday, Nov 30, of its plan to only mine Bitcoin when it emerges from bankruptcy, a scaled-down business that reflects guidance from regulators.

According to a report, Judge Martin Glenn, responsible for Celsius Network’s Chapter 11 proceedings, voiced displeasure on Thursday, Nov 30, regarding the abrupt change, emphasizing his repeated advisories to Celsius about the importance of reaching an agreement with the SEC.

Judge Glenn…

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Open Exchange Token (OX), the native token of the crypto bankruptcy claims platform OPNX, spiked 50% just 20 minutes after co-founder Su Zhu supposedly posted to X (Twitter) for the first time since his arrest.

On Dec. 1, Su posted a simple “gm” — an abbreviation for “good morning” — marking his first X post since Sept. 29, the same day he was arrested at Singapore’s Changi Airport attempting to leave the country.

gm

— 朱溯 (@zhusu) December 1, 2023

In the 20 minutes after Su’s X post, OX jumped nearly 50% to $0.021 and hit a 63-day high — a price not seen since the day of Su’s Sept. 29 arrest, according to CoinGecko data.

OX token price with a spike in the minutes… Read more on Cointelegraph

Australia’s controversial new guidelines for cryptocurrency taxation should be ignored for being unclear and should probably be seen as “toilet paper,” according to an Australian law firm.

On Nov. 9, the Australian Tax Office (ATO) released guidance that could impact how investors and traders involved in decentralized finance report their taxes.

In a Nov. 27 blog, Cadena Legal noted the guidance was “non-binding” instead of binding public rulings — arguing that such guidance should be seen as “toilet paper.”

If you hate the ATO’s recent web guidance on crypto, read this:https://t.co/JA5GYsDVFt

— Harry Dell taxpapi.eth (@harrydelltaxlaw) November 27, 2023

The law firm noted…

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A United Nations agency tasked with helping countries eliminate poverty is set to upskill its 22,000 staff in blockchain technology, with the ultimate goal of helping countries achieve “sustainable development” growth. 

According to a Nov. 30 statement, the United Nations Development Programme (UNDP) has partnered with the Algorand Foundation to launch a blockchain academy in 2024.

The academy will serve the UNDP’s 22,000 staff members across 170 countries, educating them about distributed ledger technology and blockchain, including how it could be used for financial inclusion, supply chain transparency, real-world asset tokenization, and digital identity applications.

During the…

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Sam Bankman-Fried was reportedly worried for his safety during his pre-trial detention time at the Brooklyn Metropolitan Detention Center and even considered paying another inmate for “protection,” according to a former inmate. 

New York mob enforcer-turned-informant Gene Borrello told crypto blogger Tiffany Fong in a Nov. 30 interview that he spent time with Bankman-Fried in the lead-up to his criminal trial. He said SBF was “out of his element” in jail and worried for his safety.

I got a chance to interview Gene Borrello, a former mob enforcer who was in jail with Sam Bankman-Fried. Gene tells me SBF was on suicide watch, was extorted & did not eat or shower for several days. We…

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The cryptocurrency industry has now seen its most “damaging” month for crypto thievery, scams, and exploits, with crypto criminals walking away with $363 million in November, according to a blockchain security firm.

Around $316.4 million came from exploits alone, flash loans inflicted $45.5 million in damage, and $1.1 million was lost to various exit scams, CertiK stated in a Nov. 30 X (formerly Twitter) post.

#CertiKStatsAlert

Combining all the incidents in November we’ve confirmed ~$363M lost to exploits, hacks and scams

This makes November the most damaging month this year

Exit scams were ~$1.1M

Flash loans were ~$45.5M

Exploits were ~$316.4M

See more details below …

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Major Swiss cryptocurrency-enabled bank Seba is changing its name amid growing ambitions to expand its trading services worldwide.

Seba Bank AG has rebranded to Amina Bank AG, the firm announced to Cointelegraph on Nov. 30. “We opted to change our name from SEBA Bank due to similarities with SEB Bank in Sweden. SEB Bank and SEBA Bank agreed to a name change in 2023,” Amina CEO Franz Bergmueller told Cointelegraph.

The new name, Amina, stems from the term “transamination,” meaning the transference of one compound to another, the firm said — referring to its mission to bring together various elements of traditional, digital and crypto banking.

While the new naming is based on the…

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Australians are increasingly looking to cryptocurrency to secure a peachy retirement, with allocation to the asset class from self-managed retirement funds increasing 400% in just four years — with the growth rate surpassing stocks and bonds.

As of the quarter ending in September, the nearly 612,000 self-managed super funds (SMSFs) are holding a total of $658.6 million (992 million Australian dollars) worth of cryptocurrencies, statistics released on Nov. 26 from the Australian Tax Office (ATO) show.

The latest figure is a 400% increase from the same quarter in 2019 — which closed out at just under $131.5 million (198 million Australian dollars).

In Australia, self-managed super funds…

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The United States Internal Revenue Service (IRS) is considering a proposal that would have sweeping consequences for the cryptocurrency industry. Investors should be concerned, because it could significantly impact the way that individuals — both inside and outside America — are allowed to engage with digital assets.

The IRS is proposing an initiative under Section 6045 of the tax code to establish new tax rules for the treatment of cryptocurrency providers. Specifically, the agency is seeking to amend the law to expand the definition of “brokers” to include nearly all crypto-service providers — including, for instance, decentralized exchanges (DEXs) and wallet providers….

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