Coingeek Pulse 77 with Stephanie Tower

The CoinGeek Pulse Episode 77: HMRC seizes NFTs, SEC penalizes BlockFi, McDonald’s to enter Metaverse and BSV Academy launches Digital Signature course

In a bid to warn those who plan to use digital currencies for illicit activities, Her Majesty’s Revenue and Customs (HMRC) seized three non-fungible tokens (NFTs) for the first time in connection with a £1.4 million ($1.9 million) suspected VAT fraud case.

The tax authority holds other seized digital assets worth £5,000 ($6,700). Suspects were allegedly using around 250 fake companies and hid them using “sophisticated methods” via stolen identities, false addresses, VPNs, and fake invoices, according to reports.

Meanwhile, the U.S. Securities and Exchange Commission (SEC) has charged BlockFi Lending LLC over its failure to register its retail digital currency lending product offers and sales. The company has agreed to pay $100 million in penalties to the SEC and 32 states, as well as pursue the registration of its digital currency lending product. BlockFi has also agreed to comply with the Investment Company Act of 1940 within 60 days.

In other news, McDonald’s is reportedly launching a restaurant in the Metaverse soon. Following Nike, Adidas, Microsoft, and other mainstream brands, the global food chain giant filed trademark applications for virtual goods and services, including cafes and restaurants for the Metaverse—aiming to cement its position in this new space.

Meanwhile, Uber CEO Dara Khosrowshahi told Bloomberg that the company would ‘absolutely’ accept bitcoin as payment in the future. However, he cited a couple of key obstacles that have kept the company from joining the digital currency bandwagon—environmental impact of digital currency mining and expensive transaction costs involving digital assets exchanges.

The CEO said it isn’t the right time for Uber to get involved, “As the exchange mechanism becomes less expensive, becomes more environmentally friendly, I think you will see us lean into crypto a little bit more.”

BSV Academy launches “Bitcoin Primitives: Digital Signatures,” the latest free short course released by the academy. The three-hour free course is an introduction to digital signatures and how these are used in processing Bitcoin transactions. The new course is aimed at developers but requires no specific prior knowledge of Bitcoin SV or the BSV blockchain. Visit bitcoinsv.academy for more information.

This week at Hashing it Out with Becky Liggero, she talks to TonicPow’s Luke Rohenaz on micropayments, NFTs, and digital marketing solutions. 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.

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