Today in Crypto: Ronin Wallet Continues Laundering

XRP and dogecoin have added more than 6% each in the last day, with catalysts driving both despite a weakening market, CoinDesk wrote.

XRP’s rise came amidst positive sentiment for the potential result of the SEC lawsuit: Ripple founder Brad Garlinghouse said he thought it would work well.

Doge’s rise came as Elon Musk, who has been a champion for the joke coin, offered over the weekend to take over social media site Twitter.

In other news, crypto bosses have said regulators are getting more positive about digital currencies in the wake of numerous crackdowns, CNBC wrote.

The report says the U.S. and Britain have worked on bringing more regulatory oversight, unlike other countries that have banned crypto.


Further, a wallet tied to March’s $600 million crypto hack, allegedly from North Korea, has continued to launder stolen ETH, CoinDesk says.

The blacklisted address is supposedly tied to North Korea’s “Lazarus” hacker group. It sent 2,915 ETH, or $8.8 million, to the cleaners early on Sunday (April 17), in defiance of U.S. sanctions.

In further crypto news, there’s been more IRS attention to crypto and NFTs this year as tax season in the U.S. is underway, Bloomberg writes.

The law requiring notification to the IRS about transfers of $10,000 in crypto won’t be in effect until next year. However, there are still requirements for reporting acquisitions and sales on individual reports.

Many new crypto owners, according to accountant Mike Greenwald, don’t know that the IRS will ask for the data.

“It requires a conversation that clients weren’t expecting to have,” Greenwald said. “They don’t think about digital currencies the same way the IRS does.”

Meanwhile, Eurotech Cyber Security, a crypto recovery agency, has recovered $5.3 million for an international company, a report says.

This comes amidst wide reports of crypto-related scams and fraud, particularly in the wake of the pandemic and the resulting focus on internet work.

Finally, Binance has debuted a space at STATION F in Paris, which is part of the “Objective Moon” initiative announced last year.

Objective Moon will focus on developing a Binance Research and Development hub, including making a DLT accelerator.

 

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