Kathy Jo Reynolds

LP positions need to be converted to Parcl

kathy-jo-reynolds-2@newsletter.paragraph.com (Kathy Jo Reynolds) — Sun, 12 May 2024 17:00:24 GMT

We talked about the project and activity in it in this post, but let us remind you that Parcl is an RWA platform for investing in US real estate.

The project has raised $11.5 million from Coinbase Ventures, Solana Ventures, DragonFly Capital and other funds.

The other day they had a new ParclV3 update for LP. Due to this, who holds liquidity there should convert their positions to further farm points.

🤔 To convert go to the site and click Convert Position.

As a reminder, they are currently running their second season of point farming, which will last until the point pool runs out.

Who isn't farming yet:

Go to the site and agree to the terms and conditions of the Parcl Points program to enable the points accrual;
To get a 5% boost for your points you can enter our code: nfd
Upload liquidity to USDC under the Provide Liquidity tab;
Optionally trade real estate in the Browse tab.

Please note that you need to deposit USDC from 30 days, you will not be able to withdraw earlier.

🏦 Coinbase: Court Should Force SEC To Respond To Coinbase Complaint

kathy-jo-reynolds-2@newsletter.paragraph.com (Kathy Jo Reynolds) — Sat, 04 May 2024 13:58:06 GMT

On June 17, Paul Grewal, Coinbase’s chief legal officer, tweeted that the company cannot wait until next week’s deadline for the US SEC to respond to the Third Circuit Court’s order on June 6. According to the filing, Paul Grewal said the Commission could not sue the company that listed the tokens as allegedly unregistered securities because the Commission did not issue specific rules when the agency did not regulate with Coinbase’s call last summer.

The largest cryptocurrency exchange in the United States also argued that the SEC deliberately dodged the Court’s question about the regulation deadline and instead “anticipated” staff “recommendation”. It is unusual for the government to refuse a direct investigation in federal Court. Now, the Court should issue an executive order because the SEC has decided not to grant Coinbase’s rule-making petition and is actively harming the industry. The Court should require the SEC to report its actions within 60 days, and if the SEC has yet to act after that, the Court should promptly rule on the enforcement order.

📣 South Korean Tax Dodgers Lose Big as Crypto Assets Worth $768,500 Seized

kathy-jo-reynolds-2@newsletter.paragraph.com (Kathy Jo Reynolds) — Wed, 01 May 2024 07:54:44 GMT

💥 South Korean tax dodgers are feeling the heat once again as authorities in Hwaseong crack down on their crypto assets, confiscating a staggering sum of over $768,500.

🟥 One individual alone had a whopping $567,000 seized from their hidden stash. This is just one move in a larger nationwide effort to tackle tax evasion.

⚠️ While crypto trading profits have so far escaped taxation in South Korea, officials suspect that many have been using digital currencies to cloak their earnings.

🔍 Armed with a new electronic management system, Hwaseong's tax officers have been able to track virtual assets and uncover undisclosed income.

➡️ The investigation began when the city noticed the individual's failure to pay local taxes. But with the help of this cutting-edge software, they dug deeper into their crypto transactions.

📈 In October last year, Hwaseong City Hall started using this innovative platform to monitor financial activities. Now, it's paying off in the fight against tax evasion.

💼 As part of the crackdown, 568 residents who had defaulted on substantial local taxes were also put under scrutiny. And guess what? Some of them were hiding virtual assets too!

💰 In total, $201,500 worth of crypto was seized from these other "tax dodgers." However, some chose to make voluntary payments rather than face forced liquidation.