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freedom

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first_img BitcoinIRA launches taxable cryptocurrency accounts Freedom Accounts

The cryptocurrency retirement investment platform BitcoinIRA has announced the launch of Freedom Accounts, which are individual taxable cryptocurrency investment accounts now available to eligible clients. These accounts can be managed alongside Crypto IRAs on the same platform and dashboard for both retirement and non-retirement cryptocurrency investments.These accounts are not subject to IRA contribution limits, required minimum distributions, or age withdrawal restrictions. Clients can fund them with cash or transfer supported cryptocurrencies in-kind from external platforms like Coinbase, Kraken, and Robinhood without having to sell first. BitcoinIRA does not charge fees for eligible in-kind transfers (network or sending platform fees may apply). Accounts can buy and sell over 100 cryptocurrencies 24/7, offer staking rewards on eligible assets (not guaranteed), and support automatic rebalancing of Crypto Bundles or custom portfolios.Custody is provided by Nevada-licensed trust company Digital Trust and BitGo multi-signature wallets. Freedom Accounts complement rather than replace Crypto IRAs, and eligible BitcoinIRA accounts automatically include this feature. BitcoinIRA was founded in 2016 and has processed billions of dollars in transactions for over 200,000 Americans. Co-founder Chris Kline stated that clients' financial lives extend beyond IRAs, and Freedom Accounts are the next step in expanding the platform, allowing clients to manage retirement and non-retirement cryptocurrency investments more flexibly in one place.

Coinbase reaches a settlement with the U.S. SEC over the Freedom of Information Act lawsuit and promotes reforms in record-keeping policies

According to The Wall Street Journal, Coinbase Chief Legal Officer Paul Grewal stated that Coinbase has reached a settlement with the U.S. Securities and Exchange Commission regarding a Freedom of Information Act lawsuit, with the SEC agreeing to pay $150,000 and amend its record-keeping policies. The lawsuit revealed that the SEC lost nearly a year’s worth of communications from former Chairman Gary Gensler and other senior officials during the peak enforcement period in the cryptocurrency industry.Coinbase had previously requested documents from the SEC regarding how it applies securities laws to digital assets, but the request was denied, leading to a lawsuit that received court support. The SEC claimed that some text messages were lost due to an automatic data deletion process. Grewal pointed out that the SEC has imposed billions of dollars in fines on financial institutions for similar record-keeping issues.In February of this year, Coinbase also reached a settlement with the Federal Deposit Insurance Corporation regarding another Freedom of Information Act lawsuit. Coinbase stated that this lawsuit revealed that the FDIC had instructed nearly twenty banks to suspend cryptocurrency-related activities since 2022, which subsequently led to congressional hearings and resulted in a court ruling that the FDIC violated federal law.Grewal stated that both lawsuits revolve around government transparency and due process, emphasizing that the American public has the right to know whether regulatory agencies are restricting legitimate cryptocurrency businesses from accessing banking services through non-public means.
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