IRS Tells Couple With $7 Million in Bitcoin to Liquidate Crypto Assets and Pay off Tax Debt
Jun18

IRS Tells Couple With $7 Million in Bitcoin to Liquidate Crypto Assets and Pay off Tax Debt

The Internal Revenue Service (IRS) has won a case in which it demanded that a Maryland couple liquidate their bitcoin to pay-off a $1.1 million tax debt. Alexander and Laura Strashny proposed to the IRS to pay their 2017 tax liability, generated from non-crypto activities, in installments over a six-year period. But after seeing the Strashny’s $7 million cryptocurrency fortune, the tax collector rejected the proposal, insisting...

Read More
Fed Chair Powell Warns of ‘Unsustainable’ Budget as US National Debt Crosses $26 Trillion
Jun18

Fed Chair Powell Warns of ‘Unsustainable’ Budget as US National Debt Crosses $26 Trillion

In his testimony before the Senate banking committee, Federal Reserve Chairman Jerome Powell warned Congress that the U.S. federal budget has been on an unsustainable path for years. He added that the U.S. economy is facing a deep downturn with “significant uncertainty.” ‘Unsustainable Path’ The Federal Reserve chairman testified before the Senate banking committee on Tuesday. While acknowledging that the...

Read More
Demand for Charter Cities During Covid-19 Pandemic Grows Exponential – People Desire Semi-Autonomous Zones
Jun18

Demand for Charter Cities During Covid-19 Pandemic Grows Exponential – People Desire Semi-Autonomous Zones

For quite some time now, a number of libertarians, bitcoin evangelists, and blockchain entrepreneurs have been promoting the idea of charter cities and seasteading concepts. One such project, Pronomos Capital, has raised $9 million from heavyweight investors like venture capitalist Peter Thiel. Pronomos was incorporated in August by Patri Friedman, as the project is attempting to start sovereign charter cities in developing countries....

Read More
WTO: Saudi Arabia Failed to Help Tackle the BeoutQ Piracy Problem
Jun18

WTO: Saudi Arabia Failed to Help Tackle the BeoutQ Piracy Problem

Pay-TV provider BeoutQ is a thorn in the side of many rightsholders. It launched in 2017 and since then, various parties have tried to stop its infringing activities. The complaints mainly come from broadcasters such as beIN and sports organizations including FIFA, Premier League, NBA, NFL, and even the International Olympic Committee. As a result, it has been labeled a “notorious market” by the US Trade Representative....

Read More
Nintendo: Soldering a Modchip into a Switch Console Breaches the DMCA
Jun18

Nintendo: Soldering a Modchip into a Switch Console Breaches the DMCA

In an effort to restrict the availability of devices that can enable people to play pirated games on Switch consoles, last month Nintendo sued several stores offering products developed by Team-Xecuter. According to the Japanese gaming giant, the SX Core and SX Lite hardware mods – which work on all Switch consoles – are illegal tools that breach the DMCA’s anti-circumvention provisions. The company warned that...

Read More