ChainCatcher news, the People's Court Daily published an article signed by Zhao Liang from the Intermediate People's Court of Shenzhen, Guangdong Province, titled "Disposal of Virtual Currency Involved in Criminal Cases: Challenges, Innovations, and Judicial Responsibility," which points out that virtual currency has corresponding property attributes, and there is basically a consensus in judicial practice.For the need to return compensation to victims or to confiscate, in order to balance the demand for disposing of virtual currency involved in cases with the regulatory policies in the mainland, it can be explored to file and supervise with the People's Bank, foreign exchange management, and other departments, entrusting qualified third-party institutions, in legally judicial jurisdictions for virtual currency trading abroad, such as Hong Kong, to exchange virtual currency for legal tender at market prices through compliant licensed trading platforms, and after cashing out abroad, to handle according to the provisions of the State Administration of Foreign Exchange's "Letter on Issues Related to Opening Foreign Exchange Accounts and Handling Foreign Exchange Income and Expenditure by People's Courts in Foreign-related Judicial Activities." For virtual currencies used in crimes that pose a threat to national security and public interest, such as privacy coins, they can be sent to a "black hole address" for destruction, permanently exiting circulation.

According to ChainCatcher, TASS reported that at the 13th St. Petersburg International Legal Forum, Russian Deputy Minister of Justice Vadim Fedorov stated that the Ministry of Justice has drafted a bill to classify digital currencies as property for the purpose of arrest and subsequent confiscation. Experts are planned to be involved in the relevant procedural actions to determine a series of necessary measures to ensure the security of digital currencies for subsequent confiscation or to address victims' claims. The bill is prepared for a first reading in the State Duma.

ChainCatcher news, according to Businesswire, The Infinite Node Foundation (NODE) announced the acquisition of all intellectual property rights of CryptoPunks from Yuga Labs.As a nonprofit organization dedicated to the protection of digital art, NODE plans to maintain CryptoPunks through three main pillars: protection, community, and expansion.

ChainCatcher news, according to CoinDesk, Matter Labs, the company behind the Layer 2 blockchain ZKSync, has been sued for intellectual property theft by the now-defunct digital asset banking platform BANKEX.It is reported that BANKEX CEO Igor Khmel and the BANKEX Foundation filed a lawsuit in the New York State Supreme Court on March 19, accusing former BANKEX employees Alexandr Vlasov and Petr Korolev of stealing their technology to establish Matter Labs, which has raised over $450 million in venture capital and has become a major player in the blockchain industry.

ChainCatcher news, regarding the previous disclosure of resigning from selling a house in 2013 to invest in Bitcoin, Binance co-founder Zhao Changpeng explained in a post on platform X that the house was sold for less than 1 million dollars. Shortly after purchasing Bitcoin, the price dropped from 600 dollars to 200 dollars and remained at that level for about 18 months. However, he was able to withstand the market downturn at that time and maintain his original moderate standard of living, thanks to his income, and his lifestyle was not severely affected.

ChainCatcher news, according to PR Newswire, the blockchain intellectual property protection company Eason Technology, listed on the NYSE, announced the completion of a HKD 1.5 million financing, with participation from Renying Capital.After the transaction is completed, Renying Capital will own 15% of the company's total equity, and the new funds are intended to explore the deployment of blockchain solutions in the fields of copyright and intellectual property, including literature, music, film and television, theater, and gaming.

ChainCatcher news, citing TASS, reports that the Supreme Court of Russia is pushing to classify cryptocurrencies as property in criminal cases, aiming to enhance law enforcement's ability to track, freeze, and confiscate illegal digital assets. The Supreme Court is involved in drafting a legislative initiative "aimed at recognizing digital currencies as property in criminal proceedings," which could strengthen law enforcement's capacity to handle crypto-related crimes.This is not the first time the Supreme Court of Russia has dealt with cryptocurrency issues in legal proceedings. In 2019, the court ruled that exchanging Bitcoin for rubles constitutes money laundering if the digital currency was obtained through illegal activities, particularly in cases involving drug trafficking. The court's ruling further indicates that cryptocurrencies may fall under the jurisdiction of existing anti-money laundering laws. Additionally, in 2021, the court ruled that the electronic currency WMZ used in the Webmoney Transfer system is legally recognized as a civil rights object, setting a precedent for Russia's legal treatment of digital assets. These earlier rulings demonstrate that the Supreme Court is working to incorporate cryptocurrencies into the country's judicial framework.

ChainCatcher news, according to The Block, NFT brand Yuga Labs announced on February 14 that it will sell the Meebits NFT series and its related intellectual property to the newly established Meebit Company (MeebCo).MeebCo plans to expand the Meebits series content, enhance community engagement, and launch new merchandise. Meebits has introduced a trading rewards program called Bits, and the royalties generated on the OpenSea platform will be distributed between the MeebCo team and project development.Yuga Labs stated that it will focus on the development of the Bored Ape Yacht Club NFT brand and the Otherside metaverse project, but Meebits will still maintain an important position within Otherside.

ChainCatcher news, according to Protos citing local media El Faro, Tether executives are spending large amounts of money to purchase real estate in El Salvador and are becoming Salvadoran citizens.The company's Chief Financial Officer Giancarlo Devasini, Chief Executive Officer Paolo Ardoino, and Chief Operating Officer Claudia Lagorio have purchased two plots of land worth $1.7 million, located in the luxury golf resort Condominio Villanueva Golf Country Club, which is also part of the residential area El Encanto. The contracts show that Ardoino and Lagorio have become naturalized citizens of El Salvador.

ChainCatcher news, according to TASS, Russian President Vladimir Putin has signed a law regulating the taxation of digital currencies.According to the law, digital currencies are recognized as property. This also applies to currencies used for foreign trade payments within the framework of the "Experimental Legal Regime (EPR) in the field of digital innovation." The mining and sale of digital currencies are exempt from value-added tax. Operators of mining infrastructure must report to the tax authorities the issuance of cryptocurrencies using their services. Failure to timely transmit such information may result in a fine of 40,000 rubles.In terms of personal income tax, digital currencies obtained through mining will be classified as tangible income (a term typically used when payment is made using goods or services rather than currency). The value of the income will be determined based on market quotes. Such income will be taxed at the usual progressive tax rates, taking into account tax deductions for the amount of mining expenses.At the same time, income from the acquisition, sale, or other circulation of digital currencies will be taxed at a two-tier personal income tax rate (13% for income up to 2.4 million rubles, and 15% for income exceeding this amount). They will be included in the same tax base as income from transactions with securities, bank deposits, and other sources. Regarding corporate income tax, digital currency mining will be taxed at the standard rate (25% starting in 2025).

ChainCatcher news, according to Cointelegraph, based on year-to-date data, 16 publicly listed crypto mining companies have spent a total of $3.6 billion on property, plant, and equipment (PP&E) upgrades, including new mining hardware. So far in 2024, these 16 mining companies have raised over $5 billion, with the third quarter being the highest period for PP&E spending since the first quarter of 2022. Spending on mining hardware accounts for the majority of PP&E expenditures. Since 2023, publicly listed mining companies have spent a total of $2 billion on hardware upgrades. The report explains that the lifespan of crypto mining hardware typically averages 3-5 years and must be upgraded regularly to maintain profitability. Additionally, crypto companies are shifting from equity financing to debt financing.Regarding the PP&E expenditures of mining companies in November 2024, Bitfarms signed a miner hosting agreement with Stronghold on November 1, which includes terms for hosting an additional 10,000 Bitcoin mining devices at its facility in Pennsylvania. Around the same time, CleanSpark, a company focused on renewable Bitcoin mining, announced plans to build 400 megawatts of mining infrastructure after acquiring mining company GRIID in October 2024. On November 11, Hive Digital purchased 6,500 application-specific integrated circuits (ASICs) for the company's upcoming facility in Paraguay.

ChainCatcher news, according to Bitcoin.com, the Federation Council of the Russian Parliament approved a government-initiated bill on Wednesday that outlines the tax framework for digital currencies. This legislation was passed in a plenary session after being approved by the lower house, the State Duma, the day before.The new law classifies digital currencies (including currencies used as payment tools under an experimental legal regime) as property under Russian domestic tax law. This classification exempts value-added tax (VAT) on digital currency mining and sales transactions, easing the financial obligations of industry participants. Additionally, services provided by authorized organizations that facilitate transactions within these experimental regimes will also be tax-exempt.An important provision requires operators of mining infrastructure to report personal data of individuals using their systems to tax authorities. Income from digital currency mining will be considered taxable income, forming the basis for personal income tax. Danil Volkov, head of the Russian Ministry of Finance department, stated that businesses engaged in mining activities must pay taxes at the standard corporate income tax rate.

ChainCatcher news, the Shanghai High People's Court published an article stating that the Songjiang District People's Court of Shanghai has concluded a dispute case regarding the validity of a virtual currency issuance financing service contract. The court believes that token issuance financing is an illegal public financing behavior, and the "Blockchain Incubation Agreement" involved in the case is invalid.The article points out that virtual currency, as a type of virtual commodity, has property value and is not prohibited by law. Although there are no explicit regulations on virtual currency in Chinese law, regulations issued by the People's Bank of China and other departments have regulated activities related to virtual currency.Therefore, although individuals holding virtual currency purely is not illegal, commercial entities cannot arbitrarily participate in virtual currency investment transactions or issue tokens on their own. Once they touch upon the bottom line of civil and criminal legal principles and rules in their trading activities, they may suffer losses or, in serious cases, be suspected of committing a crime.

ChainCatcher news, according to DL News, U.S. prosecutors are seeking to confiscate two properties belonging to Tornado Cash co-founder Roman Storm (valued at a total of $3.1 million) and a Tesla Model Y, claiming these assets are derived from illegal proceeds.Tornado Cash has gained significant attention for concealing crypto transactions but has also been exploited by criminals for money laundering. In 2022, the U.S. imposed sanctions against it. This year, Storm has been charged with three counts, including money laundering and violating sanctions, while another developer, Alexi Pertsev, has been sentenced to five years in prison.Storm's team cited freedom of speech as a defense, but the judge dismissed the request. Crypto privacy advocates strongly oppose this, arguing that developers should not be held responsible for the misuse of their tools. Storm's trial has been postponed until April next year, with defense costs estimated to reach up to $500,000 per month.

ChainCatcher news, according to Jinshi reports, the "Yongxing-Guofu-Ningbo Intellectual Property Phase 1 Asset-Backed Special Plan (Specialized and Innovative)" managed by Yongzheng Asset Management and sold by Yongxing Securities held its listing ceremony on the Shanghai Stock Exchange, with an initial issuance scale of 138 million yuan, a term of 1 year, and a coupon rate of 2.2%. The product's senior debt rating is AAA, making it the first intellectual property securitization product issued in the form of digital renminbi nationwide, and it marks a breakthrough for Ningbo's intellectual property securitization project.

ChainCatcher news, according to CoinDesk, members of the House of Lords in the UK expressed support for the country's digital asset property bill during the second reading session on Wednesday. The House of Lords Grand Committee generally believes that the bill will provide more clarity on how the legal system treats cryptocurrencies and may mark another step for the UK in paving the way for domestic cryptocurrency use.The bill was drafted by the independent statutory body, the Law Commission, and was introduced in the UK in September. The bill adds a new category of "items" under the category of property to help resolve legal disputes involving cryptocurrencies. This bill will not only assist judges in criminal cases where cryptocurrencies are stolen due to fraud or hacking but will also aid in the division of marital property.