Web3🌕Monday Latest Updates: CryptoPunks Tax Fraud, Metaplanet’s $26M Bitcoin Buy, Google’s MiCA Ad Policy, and Paycoin’s Crypto Mastercard Launch
1️⃣ A man pleads guilty over $13M in untaxed CryptoPunks sales
2️⃣ Japan’s Metaplanet invests another $26M in Bitcoin amid rising US trade tension
3️⃣ Google to enforce MiCA crypto ad rules across Europe starting April 23
4️⃣ Paycoin to unveil a crypto-backed Mastercard on April 30
👇 Stay tuned for deeper insights in today’s newsletter!
Welcome to your Web3 Weekly Update—where crypto, regulation, and innovation collide. This week brings a mix of legal drama, major investments, and platform updates shaping the global crypto landscape. A man has pleaded guilty to filing false tax returns tied to $13 million in CryptoPunks sales. Meanwhile, Japan’s Metaplanet has doubled down on Bitcoin with a fresh $26 million purchase amid growing U.S. trade tensions. Google is set to enforce new MiCA rules for crypto ads across Europe starting April 23. And Paycoin gears up to launch its crypto-backed Mastercard on April 30. Let’s dive into the details.
1. A man pleads guilty over $13M in untaxed CryptoPunks sales
A U.S. man has pleaded guilty to submitting false tax returns connected to over $13 million in earnings from the sale of CryptoPunks NFTs, marking a significant case in crypto-related tax fraud. According to the Department of Justice, the individual failed to report his NFT profits from 2021 and instead claimed false investment losses to reduce his tax liability. This case underscores the increasing scrutiny from U.S. tax authorities toward crypto transactions and digital assets. The defendant now faces up to five years in prison, highlighting the legal risks of non-compliance in the evolving world of NFT and crypto taxation.
Callan Quinn
2. Japan’s Metaplanet invests another $26M in Bitcoin amid rising US trade tension
Japan’s Metaplanet, often referred to as "Asia’s MicroStrategy," has made another major move in the crypto space by purchasing 319 Bitcoin, valued at approximately $26.3 million. This acquisition comes amid rising U.S.-China trade tensions, positioning Bitcoin as a strategic hedge against global uncertainty. With this purchase, Metaplanet signals its continued confidence in BTC, setting a bold target of accumulating 10,000 BTC by the end of the year. As Bitcoin trades around $84,800, the company’s aggressive investment strategy reflects a growing trend among firms in Asia embracing digital assets as long-term stores of value and economic security.
Ruholamin Haqshanas
3. Google to enforce MiCA crypto ad rules across Europe starting April 23
Starting April 23, Google will implement new compliance policies aligned with the EU’s Markets in Crypto-Assets (MiCA) regulation, significantly impacting how crypto ads appear across Europe. Under the updated rules, only crypto exchanges and wallet providers that are licensed under MiCA—or registered as Crypto Asset Service Providers (CASPs)—and certified by Google will be permitted to advertise. This move is aimed at enhancing investor protection and ensuring regulatory alignment within the European crypto ecosystem. While it strengthens consumer safeguards, the change may pose new barriers for smaller crypto firms attempting to gain visibility in the highly competitive advertising space.
Zoltan Vardai
4. Paycoin to unveil a crypto-backed Mastercard on April 30
Paycoin is set to revolutionize payments by launching a crypto-backed Mastercard on April 30. This new card will allow users to seamlessly spend their cryptocurrency just like traditional currency. With the integration of crypto and traditional finance, Paycoin is making it easier for digital asset holders to use their crypto for everyday transactions. The card’s launch marks a significant step toward bridging the gap between the cryptocurrency world and the mainstream financial system. As more people adopt digital currencies, Paycoin’s move signals a growing demand for practical, real-world applications of crypto.
Leon Okwatch
As Web3 continues to evolve, these stories highlight the dynamic mix of regulation, innovation, and global adoption shaping the future of crypto. From legal crackdowns to bold investments and new product launches, staying informed is key to navigating this fast-moving space. Be sure to subscribe to our newsletter for the latest insights, market trends, and breaking updates from the world of Web3. Until next time—stay curious, stay connected, and keep exploring the future of finance. 🚀
