Latest Crypto News & Market Updates

Germanys Bitcoin tax fight heats up after AfD election victory

Germany‘s debate over Bitcoin taxation has gained a new political dimension after the Alternative for Germany won nearly 44% of the vote in Saxony-Anhalt, months after the party opposed plans to remove the country’s one-year crypto tax exemption.　　Reuters reported that the AfD secured 39 of the 83 seats in the state parliament, leaving the party three seats short of an outright majority but well ahead of Chancellor Friedrich Merzs Christian Democratic Union.　　The AfD received 43.8% of party-list votes and 44.3% of first votes across 2,661 polling districts. The CDU fell to 17.2% of party-list votes, almost 20 percentage points below its result in the 2021 election, while voter turnout reached 77.8%, up 17.5 percentage points.　　The state election does not give the AfD additional seats in the Bundestag or allow Saxony-Anhalt to change Germanys federal crypto tax rules. It does, however, give the party another political platform while the federal government prepares legislation that could change how long-term cryptocurrency gains are taxed from 2027.　　AfD win strengthens a vocal opponent of Germanys Bitcoin tax plan　　Merz ruled out cooperation with the AfD after the result, telling reporters that the election had shaken the CDU “to its very foundation,” Reuters reported.　　AfD co-leader Tino Chrupalla

09-08Industry

Zcash rally draws criticism from F2Pool co-founder

F2Pool co-founder Chun Wang criticized Zcash on Sept. 8 as ZEC traded near $1,130 following a rally that carried the privacy coin into the cryptocurrency markets top ten.　　Wang, who posts under the name Chun at @satofishi, called the move a “narrative bid.” He argued that Zcashs funding history, optional privacy model, governance disputes and recently disclosed Orchard vulnerability did not justify its valuation.　　His comments are opinions rather than evidence of wrongdoing. Several underlying events are documented, but some of Wang‘s conclusions omit later changes to Zcash’s funding and privacy systems.　　ZEC was trading around $1,130 when this report was prepared, down nearly 7% over 24 hours. CoinMarketCap placed its capitalization near $19 billion and ranked it tenth, while CoinGecko placed it ninth. Rankings can differ because platforms use different supply and asset-classification methods.　　The token remained more than 2,300% higher than one year earlier, according to market data cited in coverage of Zcashs move above $1,000. Its rally accelerated after Grayscale converted its Zcash Trust into a U.S.-listed spot exchange-traded fund in August.　　Six years ago, a Zcash team member wrote me and kept confusing EST and EDT. Communication went nowhere, I banned their entire company.　　Six years later, this is still one of

09-08Industry

Sweden orders six crypto firms to pay $56M in additional taxes

Swedens tax authority has ordered six crypto companies operating in Boden to pay nearly 540 million Swedish kronor (approx. $56 million) in additional taxes after finding that the firms used business structures to obtain tax benefits they were not entitled to.　　SummarySweden has ordered six crypto firms operating in Boden to pay nearly SEK 540 million in additional taxes.The tax agency said some companies concealed crypto mining activity to claim tax benefits they were not entitled to.Nine crypto companies have received tax adjustments totaling more than SEK 500 million between 2024 and 2026.Bikupan Datacenter has challenged its tax assessment and taken the dispute to Swedens Supreme Administrative Court.　　Swedish public broadcaster SVT reported on Sept. 3 that the six companies accounted for most of the latest tax adjustments imposed on crypto businesses following a review by Skatteverket, the Swedish Tax Agency. The authority said some companies had structured their operations in ways that concealed crypto mining activity.　　Patrik Lillqvist, head of intelligence at Skatteverket, said the arrangements were designed to secure tax advantages that would not have been available if the businesses had been classified as crypto miners.　　“The companies that we have inspected often have a special arrangement to conceal that they are

09-08Industry

South Koreas KRW1 stablecoin taps LayerZero for cross-chain expansion

BDACS has selected LayerZeros Omnichain Fungible Token standard for its KRW1 stablecoin, giving the won-backed asset a unified cross-chain system as the company seeks to expand its use outside South Korea.　　LayerZero said BDACS, South Koreas largest digital asset custodian by assets under custody, chose its OFT standard after reviewing options for making KRW1 natively interoperable across multiple blockchains.　　@BDACSKorea has selected LayerZeros OFT standard to take KRW1, the first on-shore Korean won-backed stablecoin, cross-chain.　　KRW1 is now the first Korean won-backed stablecoin natively transferrable across major DeFi ecosystems https://t.co/sSErebmg31 pic.twitter.com/LM4LDD8axF　　— LayerZero (@LayerZero_Core) September 8, 2026　　KRW1 already operates across several networks, including Ethereum, Avalanche and Circles Arc. BDACS said the separate deployments created friction when moving the stablecoin between networks, limiting its distribution and utility.　　The new setup is designed to maintain one KRW1 supply across connected chains. When tokens move between networks, KRW1 will be debited on the source chain and credited on the destination chain, while LayerZeros Stargate application will handle transfers for users.　　LayerZero gives KRW1 a unified cross-chain supply　　LayerZero‘s OFT standard is already used for stablecoins including Tether’s USDT0, PayPal USD and Paxos-issued USDG.　　The company said OFT currently facilitates 87% of cross-chain transfer volume and has processed $280 billion in lifetime

09-08Industry

Australia tightens crypto oversight with 45 removals

Australias financial intelligence regulator said on Sept. 7 that it canceled, suspended or refused to renew 45 crypto and remittance registrations during the past year.　　The Australian Transaction Reports and Analysis Centre said the AUSTRAC registration actions removed affected businesses from its official registers. The agency did not identify all 45 companies or disclose how many were virtual asset service providers rather than remittance businesses.　　According to its statement, AUSTRAC targeted businesses that were inactive, insolvent or unable to begin or continue operating. Other cases involved incorrect registrations, failures to report material changes or elevated money laundering and terrorism financing risks.　　AUSTRAC CEO Brendan Thomas said companies with canceled registrations can no longer provide the relevant services. The regulator also referred people associated with some businesses to Australian and overseas law enforcement or regulatory partners.　　“The rapid movement of money across borders can create some of the highest ML/TF risks,” Thomas said.　　The action represents an administrative and supervisory response rather than a finding that all 45 businesses committed financial crimes. AUSTRACs stated reasons cover conditions ranging from inactivity and insolvency to alleged financial crime exposure.　　AUSTRAC canceled GetCoins after customer complaints　　AUSTRAC identified BA Digital Ventures, which traded as GetCoins, as one company affected by the

09-08Industry

Abraxas Capital buys $32M ETH to hedge $353M Hyperliquid short

Abraxas Capital has bought another 13,000 ETH worth $32.39 million in the spot market to hedge part of a 141,180 ETH short position on Hyperliquid valued at $353.27 million.　　Lookonchain said on Sept. 8 that Abraxas Capital purchased the additional Ether while keeping its much larger short position open on the decentralized derivatives platform. The blockchain analytics account described the transaction as another spot purchase made specifically to hedge the short.　　Abraxas Capital bought another 13,000 $ETH ($32.39M) spot to hedge its 141,180 $ETH ($353.27M) short on Hyperliquid.https://t.co/qwAXChjYvp pic.twitter.com/q5fIew30RS　　— Lookonchain (@lookonchain) September 8, 2026　　At the values provided by Lookonchain, the latest purchase was made at an implied price of roughly $2,491 per ETH. The 13,000 ETH position equals just over 9% of the firms 141,180 ETH short when measured by the number of tokens.　　Abraxas therefore remains heavily net short based solely on the positions disclosed by Lookonchain. Subtracting the latest 13,000 ETH spot hedge from the 141,180 ETH short leaves 128,180 ETH of net short exposure before considering any other holdings or positions controlled by the firm.　　Abraxas Capital keeps $353 million ETH short open　　Lookonchain valued the Hyperliquid short at approximately $353.27 million at the time of its post, compared with $32.39 million

09-08Industry

Bitcoin miner called $5.68 cost for 50 BTC a loss

A Bitcoin forum post published on Sept. 7, 2010, has resurfaced 16 years later after an early miner described a projected $5.68 electricity bill for mining a 50 BTC block as “a net loser.”　　The calculation was genuine, but it did not mean that spending $5.68 guaranteed the miner a block. The figure represented an expected electricity cost based on the miner‘s computing power, Bitcoin’s difficulty and the average time needed to find a valid block.　　The forum participant, using the name TTBit, measured a computer consuming 140 watts while producing about 2,200 kilohashes per second. A mining calculator estimated an average wait of 338.05 hours, or roughly 14 days and two hours.　　Running a 140-watt machine for that period would consume approximately 47.33 kilowatt-hours. At $0.12 per kilowatt-hour, the electricity bill would be $5.68. The arithmetic in the original post is therefore consistent.　　“It would cost me 47.327 Kwh to produce a block,” TTBit wrote, before calling the projected expense “a net loser.”　　An Internet forum user 16 years ago measured their computers electricity use and estimated it would take approximately two weeks to produce a Bitcoin block. With the block mining subsidy then 50 bitcoin, their estimated electricity cost was $5.68, which they

09-08Industry

Australia says it removed 45 crypto, remittance registrations over the past year

Australias financial intelligence regulator said it canceled, suspended or refused to renew 45 crypto and remittance registrations over the past year as it intensified scrutiny of high-risk payment businesses.　　On Monday, the Australian Transaction Reports and Analysis Centre (AUSTRAC) said the actions targeted providers that were inactive, insolvent or lacked the capacity to operate. It also cited failures to report material changes, incorrect registrations and cases presenting significant money laundering or terrorism financing risks.　　AUSTRAC CEO Brendan Thomas said businesses whose registrations were canceled can no longer operate. He added that individuals connected to some businesses had been referred to Australian and overseas law enforcement or regulatory partners.　　AUSTRAC highlighted BA Digital Ventures, which traded as GetCoins and had its virtual asset registration canceled in June following customer complaints. The regulator said GetCoins was allegedly exploited by organized cryptocurrency investment scams and that its cancellation, undertaken with the National Anti-Scam Centre, helped disrupt the activity.　　The regulator did not name all 45 businesses or provide a breakdown between crypto and remittance providers. Its public VASP register lists recent actions involving GetCoins, Cryptolink, Self Custody, Jam Xchange and Coinsec Australia.　　AUSTRAC has also opened an investigation into Western Union and suspended Cryptolinks crypto ATM network.

09-08Industry

XRP Ledger Batch upgrade remains below 80% vote

XRP Ledger validators are moving closer to approving BatchV1_1, but live voting data on Sept. 8 showed the amendment remained below the threshold needed to begin its two-week activation period.　　BatchV1_1 had support from 24 of 35 validators on the default Unique Node List, equal to 68.57%, according to XRPScan. At least 29 affirmative votes would be required to exceed 80% with the current validator count.　　The XRP Ledgers Batch amendment is now at 68% support　　We could see Batch going live by the end of this month　　Batch will unlock a lot of new use cases for the XRP ecosystem　　You can track progress here https://t.co/OzfHPHqP2E pic.twitter.com/uoo2Q5kf0X　　— moonkie ???? (@xmoonkie) September 7, 2026　　The amendment would let accounts bundle as many as eight transactions into one coordinated operation. However, reports suggesting it will activate in September remain speculative because the required majority has not been reached.　　A September activation is possible only if support first exceeds 80% and remains there continuously for fourteen days.　　XRP Ledger Batch vote has not started its countdown　　XRPL amendments activate only after holding support from more than 80% of trusted validators for two consecutive weeks. If support falls below that level during the period, the timer resets.　　BatchV1_1 therefore needs at least five

09-08Industry

Cardano ships node 11.1.1 ahead of Dijkstra

Cardano released node version 11.1.1 ahead of its next major network era, completing the first of four planned node milestones supporting the Dijkstra hard fork.　　SummaryCardano node 11.1.1 has shipped, removing legacy tracing and addressing known Genesis-related operational issues.Node 11.2 will open most Dijkstra features for testing while excluding Leios consensus components initially.DijkstraNet is expected after node 11.2 for Plutus V4, nested transactions and CIP-50 testing publicly.Intersects moderate-confidence hard-fork window runs December 5 through January 4, pending readiness and governance approval.Peras remains planned for a separate intra-era hard fork during the second quarter of 2027.　　Intersect‘s container registry shows that version 11.1.1 was published during the weekend ending Sept. 6. The release removes Cardano’s legacy tracing system and addresses known Genesis-related issues. It also responds to increased memory use identified during testing of node 11.1.0.　　The maintenance release arrived as Intersect published a more detailed Dijkstra schedule. Node versions 11.2 and 11.3, followed by the final protocol version 12 release, will progressively introduce the code required for testing and mainnet activation.　　Intersect currently places a possible Dijkstra enactment between Dec. 5, 2026, and Jan. 4, 2027, under its “moderate confidence” timeline. A later “high confidence” window runs from Feb. 24 to March 26, 2027.　　You

09-08Industry

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