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As the crypto currency industry proliferates in the mainstream, demands for its en force ment by government agencies are growing, including the United States Internal Revenue Service (IRS), which has recently brought in two private-sector experts to assist in its efforts. Specifically, the IRS has hired as executive advisors Sulolit ‘Raj’ Mukherjee, JD, a former Global Head of Tax at a private blockchain software technology firm, and Seth Wilks, CPA, who has worked extensively in the area of crypto asset tax policy, the agency said in a press release on February 27. Bolstering crypto enforcement Commenting on the development, IRS Commissioner Danny Werfel highlighted the complexity of the rapidly growing crypto sector , the importance of intensifying en force ment in this area for the sake of taxpayers and the country as a whole, as well as stressing the IRS’s activities to this end: Picked for you Here's what crypto the jailed FTX founder is advising prison gua...

Bitfarms’s C$60 million private placement with US institutional investors closes on or about November 28. The Canadian bitcoin mining firm will use the proceeds to acquire buy more miners and expand its infrastructure. Bitcoin mining company Bitfarms is seeking to raise C$60 million (approx. $44 million) from institutional investors in the US, the Canada-based firm announced on Friday. Bitfarms will raise the funds via a private placement, with gross proceeds from 44.4 million common shares at C$1.35 per share. Investors will also have warrants to purchase an aggregate of 22.2 million common shares with an exercise price of C$1.61 ($1.17) per share. The warrants have an exercise period of three years, Bitfarms said in a press release on Friday. Bitfarms will use the private placement ’s proceeds to acquire additional miners, expand its infrastructure and improve the company’s working capital position. The firm’s monthly mining ou...

Swisstronik, a layer-1 network focused on user privacy and regulatory compliance, has announced the close of its $5 million seed funding round , and the launch of its private token sale. Swisstronik closes seed funding round After a successful seed round, Swisstronik intends to utilize the funds for team expansion, technology development, and the planned 2024 launch of its mainnet. Simultaneously, they have initiated a private token sale, providing individuals and businesses with an exclusive early investment opportunity to secure SWTR tokens required for accessing the Swisstronik Network ahead of the public launch. You might also like: Malta takes next steps to align with EU’s MiCA regulation Swisstronik has already closed on its first deal in the ongoing private token sale, with MAQ Capital Home, a UAE-based venture capital represented by Mohammed Abdul Qadir Jihad. This led to MAQ Capital Home acquiring $500,000 worth of future SWTR token s, which would allow the ...