The US$70 billion Satoshi trial is now on its third week and heating up major news outlets from around the globe. Could the Bitcoin creator Satoshi Nakamoto be unmasked in Florida?
This is the question posed by the media worldwide as they cover the Kleiman v Wright trial in Miami. The most significant case in Bitcoin history has been the subject of the global media scrutiny on who the real Satoshi Nakamoto is.
This week marked the end of Dr. Craig Wright’s testimony in the stand for the plaintiffs where Dave Kleiman’s lawyers repeatedly questioned Dr. Wright on pieces of documents and email exhibited as evidence in court. Dr. Wright’s defense attorneys also started to present their case and are expected to provide more pieces of evidence that will prove Dr. Wright is the sole creator of Bitcoin.
At stake in this trial is 1.1 million Bitcoin, whose value has now risen to a peak of over $70 billion, as well as intellectual property. Subscribe to CoinGeek.com and CoinGeek’s YouTube channel to get the latest updates from Kurt Wuckert Jr. and Patrick Thompson straight from the courtroom.
Meanwhile, U.S. President Joe Biden signed into law the controversial infrastructure bill at the White House on Monday. The Infrastructure Investment and Jobs Act requires digital currency brokers to disclose customer information, which is a regular procedure financial services do for tax compliance.
A team of bipartisan U.S. senators—Senate Finance Committee Chairman Ron Wyden and Senator Cynthia Lummis—unveiled a new bill on the same day. The bill aims to narrow the broad definition of the crypto tax requirements in the new law specifically the term “broker,” causing worry among crypto advocates.
Wyden said in a statement, “Our bill makes clear that the new reporting requirements do not apply to individuals developing blockchain technology and wallets.” He added, “this will protect American innovation while at the same time ensuring those who buy and sell cryptocurrency pay the taxes they already owe.”
In other news, BSV blockchain-powered Haste Arcade launches Game On, a competition to incentivize development on top of the Instant Leaderboard Payout (ILP) platform.
To test their newly launched Haste SDK, the hackathon-inspired competition is looking for developers who must build a game that features a leaderboard or a scoreboard, where top players are rewarded for each play in real time. Submission for the developer competition is open until the last day of 2021. Visit the Haste Arcade website to get your game listed on the arcade.
Before you go, be sure to watch this week’s episode of Hashing It Out with Becky Liggero. Becky talks to Kal Suurkask of TAAL Distributed Information Technologies Inc. (CSE:TAAL | FWB:9SQ1 | OTC: TAALF) on blockchain as a data management system that can power and benefit many industries such as iGaming. Watch the full interview on the CoinGeek YouTube channel.
New to Bitcoin? Check out CoinGeek’s Bitcoin for Beginners section, the ultimate resource guide to learn more about Bitcoin—as originally envisioned by Satoshi Nakamoto—and blockchain.