TBD, the Bitcoin-focused subsidiary of Jack Dorsey’s Block, has announced it is building “Web5: an extra decentralized web platform” powered by Bitcoin, in a move that comes months after Dorsey criticized Web3 for venture capitalists’ involvement in it.
Washington, DC-based cryptocurrency think tank Coin Center has filed a lawsuit against the U.S. Treasury Department and the Internal Revenue Service claiming a crypto tax reporting requirement in an infrastructure law is “unconstitutional.”
Cryptocurrency lender Celsius Network has frozen withdrawals, swaps, and transfers on its platform for its 1.7 million customers, in a move that widened an ongoing crypto market route and saw BTC’s price drop below $24,000.
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Top stories in the Crypto Roundup today:
- Jack Dorsey’s TBD Announces Bitcoin-Powered ‘Web 5’
- Coin Center Sues U.S. Treasury Over ‘Unconstitutional’ Tax Reporting Rule
- Crypto Lender Celsius Pauses Withdrawals on Its Platform
- Crypto Investment Products’ Weekly Flows Turned Positive in May
- Sponsored: Bybit WSOT 2022 — Solo or Squad?