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Published time: 5/19/2025, 11:00:25 PM
Australian Court Classifies Bitcoin as Money, Challenging Tax Framework
A landmark ruling in Victoria, Australia has classified Bitcoin as money rather than a taxable asset, potentially triggering up to $640M in capital gains tax refunds. Judge O'Connell's decision contradicts the Australian Taxation Office's decade-old position, which could revolutionize cryptocurrency taxation in Australia.
Further Reading:
Australian Court Rules Bitcoin as Money, Not Asset – Could Trigger $640M in Tax Refunds
Coinbase Faces Multiple Legal Challenges Amid Data Breach Investigation
Coinbase confronts DOJ investigation and multiple lawsuits following a major security breach involving bribed employees in India. The breach compromised customer data, with potential losses estimated at $180-400M. Additionally, the exchange faces a class-action lawsuit over biometric data practices in Illinois.
Further Reading:
DOJ Launches Investigation into Coinbase Data Breach
Coinbase Faces Multiple Lawsuits Following Data Breach Incident
Coinbase Faces Class-Action Lawsuit Over Biometric Data Practices
Crypto Investment Products See Continued Growth with $7.5B YTD Inflows
Digital asset investment products recorded $785M in weekly inflows, marking the fifth consecutive positive week. The US led with $681M, pushing 2025 total to $7.5B. Bitcoin dominated with $557M inflows, while Ethereum attracted $205M following the Pectra upgrade.
Further Reading:
US Crypto Investment Products Draw $7.5B in 2025, Fifth Week of Net Inflows
Revolut Announces €1B French Investment and Banking License Pursuit
Revolut commits to €1B investment in France over three years, plans Western European HQ in Paris, and seeks French banking license. The company aims to expand from 5M to 20M French users by 2030, while operating its Revolut X crypto platform across 30 European countries.
Further Reading:
Revolut Plans €1 Billion Investment in France, Seeks Banking License