welcome again to another breathtaking episode of crypto espresso, your teeny tiny daily shot of
caffeinated crypto headlines. I'm your host Andrew and it is the Tuesday Newsday. which means it's
Tuesday and there's news. first up, buying that mythical cup of coffee with crypto might be about
to get a lot easier. to American senators are introducing a bill that would make a small crypto
transaction tax-free. Patrick Toomey and Kirsten Cinema want to exempt consumers from reporting
transfers of less than fifty dollars in value and if a transaction generates a gain of under
50 there would be no need to inform the IRS. to me the most senior Republican on the Senate Banking
Committee said - while digital currencies have the potential to become an ordinary part of Americans
everyday lives, our current tax code stands in the way. friendly reminder that a nice cup of crypto
espresso is always tax-free though. the SEC is launching an investigation into whether coinbase
has allowed U.S consumers to trade digital assets that should have been registered as securities.
last week it alleged that at least nine altcoins on the exchange fall under this category. claims
linked to the news that a former coinbase employee has been charged with the insider trading of
crypto. in response to Bloomberg's latest report, coinbase's Chief legal officer said - it doesn't
list Securities end of story. Paul Grewal added - I'm happy to say it again and again, we are
confident that our rigorous diligence process, a process the SEC has already reviewed, keeps
Securities off our platform, and we look forward to engaging with the SEC on the matter. oh I too
love communicating with bureaucratic governmental bodies, Paul. a businessman has pleaded guilty to
his role in a cryptocurrency fraud scheme. Michael Allen stallery was the CEO and founder of titanium
blockchain infrastructure Services, which raised $21 million from investors in an initial coin
offering. according to the U.S justice department he failed to register the Ico with the SEC despite
being required to do so. stullery also admitted that he falsified aspects of the Project's white
papers planted fake testimonials on his website and inaccurately claimed to have relationships
with the Federal Reserve. woof, investor funds were later commingled into its own finances and
used to pay personal bills. he'll be sentenced in November and faces up to 20 years in prison. and
a finally, Britain's National Crime agency has seized more crypto than cash in the past year.
figures show digital assets worth $32 million were taken from criminals in the 12 months to
March 31st, by contrast the physical cash that was seized over this period stood at $30.9 million
about $8.4 million worth of physical assets including vehicles and other valuables linked
to criminal activity was also taken into custody. according to the NCAA money laundering performed
using cryptocurrencies was a top priority over 2021-22. officials claimed that criminals have
been increasingly exploiting this new technology especially as they adapt to covid related travel
restrictions that may have stopped cash being moved physically across borders. but you dear
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does it for the Tuesday Newsday again. I've been your host Andrew these have been your headlines
and huff Jiminy wilgers look at the time we'll see you tomorrow with a fresh shot of crypto espresso.