Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation.
Today in crypto: Coinbase sued three US states to shield its planned prediction markets, the US Senate confirmed pro-crypto leaders for the CFTC and FDIC, and Bitcoin advocates warned that a US proposed de minimis tax relief may apply only to stablecoin transactions.
Coinbase is taking three US states to court in a bid to lock in federal protection for its planned prediction markets, opening a new front in the battle over whether event contracts are finance or gambling.
The exchange has sued regulators in Connecticut, Illinois and Michigan, asking federal judges to declare that prediction markets listed on a US Commodity Futures Trading Commission (CFTC)-regulated platform fall under the Commodity Exchange Act and the CFTC’s claimed exclusive jurisdiction, not 50 separate state gambling codes.
