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Third Circuit Court of Appeals Orders Independent Investigation for FTX

The recent ruling by the Third Circuit Court of Appeals regarding FTX's need for an independent investigation marks a significant development in the ongoing legal proceedings. The decision to overturn the previous ruling by a Delaware bankruptcy judge highlights the importance of transparency and impartiality in such cases. Let's delve into the key points surrounding this ruling: Key Points: The Third Circuit Court of Appeals has mandated that FTX undergo an independent investigation to uncover industry practices. The court deemed the investigation led by FTX's current CEO as insufficient, underscoring the necessity for an unbiased probe. The Bankruptcy Code requires the appointment of an examiner for cases where the debtor's debts exceed $5 million, a criterion that FTX meets. This ruling underscores the critical role of independent oversight in ensuring fairness and accountability in bankruptcy proceedings. By requiring FTX to undergo an independent investigati

# EU Implements New Rules on Crypto Holdings: Enhancing Transparency and Combatting Tax Fraud

In a move aimed at combating tax fraud, avoidance, and evasion in the crypto industry, the European Union (EU) has recently adopted new rules that allow tax authorities to share data on individuals' crypto holdings. These rules, known as the Eighth Directive on Administrative Cooperation (DAC8), require crypto companies to report information on their customers' holdings, which will then be automatically shared between tax authorities. This development marks a significant step towards increasing transparency in the crypto sector and ensuring that individuals are meeting their tax obligations.


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