James Howell's Last Hope: Buying a Landfill to Recover $750M Bitcoin Fortune

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📈 Preview On Today’s News:

1. - James Howell's Last Hope: Buying a Landfill to Recover $750M Bitcoin Fortune

2. - Hong Kong Recognizes Bitcoin & Ethereum for Investment Visa Applications

3. - Japan Eyes Crypto Tax Cuts and Bitcoin ETFs by 2025

Keep reading below for more!

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Today’s News:

1)

James Howell's Last Hope: Buying a Landfill to Recover $750M Bitcoin Fortune

James Howells, a 39-year-old British computer scientist, has spent over a decade trying to recover a hard drive containing 8,000 bitcoins—now worth more than $750 million—after accidentally discarding it in a Newport landfill in 2013. Despite multiple failed proposals, including a $60 million reward offer and a high-tech search plan using AI and robot dogs, his latest move is to buy the entire landfill before it is permanently closed and partially converted into a solar farm. With time running out, Howells has engaged investment partners to explore this bold acquisition, hoping to finally reclaim his lost digital fortune.

• Howells lost a hard drive containing 8,000 bitcoins in 2013 and has since tried various methods, including AI-assisted searches and a $60 million reward, to recover it.

• With the landfill set to close and be converted into a solar farm, he is now considering purchasing the entire site as a last-ditch effort to retrieve his lost fortune.

2)

Hong Kong Recognizes Bitcoin & Ethereum for Investment Visa Applications

Hong Kong has officially integrated Bitcoin and Ethereum into its Capital Investment Entrant Scheme, allowing applicants to use these cryptocurrencies as proof of wealth for an investment visa. To qualify, individuals must demonstrate a net worth of at least HK$30 million (USD $3.8 million), with no restrictions on asset types. A chartered public accountant must verify the asset evaluation, marking a significant shift in the region’s approach to digital assets. This move aligns with growing global acceptance of cryptocurrencies as legitimate financial instruments.

• Hong Kong’s new investment visa program now accepts Bitcoin and Ethereum as proof of wealth, requiring applicants to verify a net worth of at least HK$30 million (USD $3.8 million).

• A chartered public accountant must sign off on asset evaluations, reflecting the growing institutional acceptance of cryptocurrencies in financial systems.

3)

Japan Eyes Crypto Tax Cuts and Bitcoin ETFs by 2025

Japan’s Financial Services Agency (FSA) is planning a major regulatory overhaul that includes reducing the crypto tax rate from 55% to 20% and approving Bitcoin spot ETFs, with formal announcements expected by mid-2025 and implementation beginning in 2026. These changes aim to align Japan’s crypto taxation with traditional financial income tax rates, increase investor participation, and enhance the country's competitiveness in the digital asset market. The FSA is also considering reclassifying cryptocurrencies as financial products to bring them under a more structured regulatory framework. Institutional players, including SoftBank, are already preparing for these changes, with significant investments in blockchain and crypto infrastructure.

• Japan’s FSA plans to cut crypto taxes from 55% to 20% and approve Bitcoin spot ETFs, aiming to enhance market competitiveness and investor interest by 2026.

• The regulatory overhaul includes reclassifying cryptocurrencies as financial products, aligning with global trends and strengthening Japan’s position in the digital asset sector.

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4)

Binance and SEC Agree to 60-Day Legal Pause Amid Crypto Regulation Shifts

Binance and the U.S. Securities and Exchange Commission (SEC) have jointly filed a motion to pause the ongoing lawsuit against the crypto exchange for 60 days, citing the newly formed SEC crypto task force as a key factor that may impact the case’s resolution. The task force, led by Commissioner Hester Peirce, aims to develop a transparent regulatory framework for digital assets, moving away from the enforcement-heavy approach under former leadership. Following the pause, both parties will submit a joint status report to determine if an extension is necessary. This development comes after the U.S. Supreme Court declined Binance’s appeal, reinforcing that U.S. securities laws apply to the exchange despite its lack of a physical headquarters. Analysts suggest this pause could set a precedent for other crypto firms, including Ripple, Coinbase, and Kraken, to seek similar legal delays.

• Binance and the SEC agreed to a 60-day legal pause to assess the impact of the SEC’s new crypto task force on the case.

• The task force, led by Commissioner Hester Peirce, aims to create a clearer regulatory framework, potentially influencing other major crypto lawsuits.

5)

US Crypto Council Pushes for Regulatory Reset to Spark Digital Asset ‘Golden Age’

The Crypto Council for Innovation is advocating for a regulatory overhaul in the US to ensure the country remains competitive in the digital asset space. At a key congressional hearing, industry leaders, policymakers, and financial experts discussed legislative solutions to counter previous restrictive policies and unlock crypto’s full potential. Ji Hun Kim, acting CEO of the Crypto Council, emphasized the need for comprehensive digital asset policies to keep pace with international competitors like the EU, UK, Japan, and Singapore. Key legislative priorities include market structure reforms, stablecoin regulations, better coordination between the SEC and CFTC, and support for decentralized finance. Legal experts stressed that clear regulations, rather than enforcement-driven actions, are essential for fostering innovation while maintaining consumer protection.

• The Crypto Council for Innovation is calling for clear federal regulations to strengthen the US crypto industry and prevent falling behind global competitors.

• Legislative priorities include comprehensive market structure laws, stablecoin regulations, SEC-CFTC coordination, and support for decentralized finance to unlock crypto’s full potential.

6)

Ukraine to Legalize Crypto by Early 2025 Amid Regulatory Shift

Ukraine is set to legalize cryptocurrencies by the first quarter of 2025, aiming to establish a regulated and transparent framework for digital assets. Spearheaded by Danylo Hetmantsev, head of the Ukrainian Parliament’s finance committee, the initiative follows years of evolving crypto policies, from initial skepticism in 2014 to legal recognition efforts in 2021 and revisions after a 2022 presidential veto. The upcoming law will tax crypto profits upon conversion to fiat, avoiding exemptions to prevent tax evasion. Amid the ongoing conflict with Russia, Ukraine has increasingly relied on cryptocurrencies for financial resilience, with digital assets playing a critical role in humanitarian aid and economic stability. The move aligns Ukraine with global crypto regulatory trends, positioning the country as a potential leader in Eastern Europe’s digital asset market.

• Ukraine plans to legalize crypto by early 2025, ensuring regulation, taxation, and financial transparency while rejecting tax exemptions to curb evasion.

• Cryptocurrencies have been crucial for Ukraine’s economy during the conflict, supporting financial transactions, inflation protection, and humanitarian aid efforts.

7)

Fed Chair Powell Rejects Digital Dollar Issuance

Federal Reserve Chair Jerome Powell has firmly stated that the Fed will not issue a central bank digital currency (CBDC) while he remains in charge, a position he confirmed during a Senate Banking Committee hearing on February 11. Speaking in response to Senator Bernie Moreno’s inquiries, Powell emphasized that the Fed is not considering launching a digital dollar, aligning with broader Republican opposition to CBDCs. This stance follows President Donald Trump’s January 23 executive order banning a digital dollar, though legal experts question its enforceability. The House previously passed an anti-CBDC bill, now awaiting Senate review, reflecting ongoing political resistance to the concept.

• Jerome Powell confirmed the Federal Reserve will not issue a central bank digital currency while he is chair, echoing Republican-led efforts to block a digital dollar.

• Political resistance continues, with Trump's executive order banning a digital dollar and an anti-CBDC bill awaiting Senate action after passing in the House.

8)

BitGo Eyes 2025 IPO Amid Crypto Market Growth

Cryptocurrency custodian BitGo is considering launching an initial public offering (IPO) in the second half of 2025, according to a Bloomberg report on Feb. 11. The Palo Alto-based company, known for providing regulated crypto custody, lending, and infrastructure services, is in discussions with investment banks regarding the potential offering. While deliberations are ongoing, no final decision has been made. BitGo, which also manages the widely used wrapped Bitcoin (wBTC), has a market cap of approximately $12 billion. The company’s move aligns with a broader trend of major crypto firms, including Circle, Kraken, Gemini, and Bullish, exploring public listings, particularly as the industry benefits from increased regulatory clarity and market optimism following Donald Trump’s presidential victory.

• BitGo is in talks with investment banks about a possible IPO in late 2025 but has not made a final decision.

• The company joins other crypto firms considering public listings as the market experiences renewed growth and regulatory developments under the new administration.

9)

Randall Crater Fined $7.6M for My Big Coin Fraud

The U.S. District Court for the District of Massachusetts has ordered Randall Crater, founder of My Big Coin, to pay over $7.6 million in restitution for defrauding investors in a digital asset scheme. The Commodity Futures Trading Commission (CFTC) also imposed a lifetime trading ban on Crater, following his conviction for wire fraud and operating an unlicensed money-transmitting business. Between 2014 and 2018, Crater and his associates falsely marketed My Big Coin as a gold-backed digital currency, raising millions from at least 28 investors. Instead of using the funds for investment, he spent them on luxury goods. This ruling reinforces regulatory oversight in crypto fraud cases, as the CFTC successfully asserted jurisdiction over My Big Coin, setting a precedent for future enforcement actions.

• Randall Crater was ordered to pay $7.6 million in restitution and received a lifetime trading ban after defrauding investors with false claims about My Big Coin.

• The CFTC’s successful jurisdiction over the case sets a legal precedent for future cryptocurrency fraud enforcement actions.

10)

Gumi Inc. Invests $6.6M in Bitcoin to Expand Blockchain Operations

Tokyo-based mobile game studio Gumi Inc. has announced plans to acquire $6.6 million worth of Bitcoin by May as part of its broader strategy to strengthen its blockchain node operations. The company's board of directors approved the purchase, reinforcing Gumi's long-term commitment to the crypto industry. Following the announcement, Gumi's stock rose 3.6% to ¥454. Additionally, the firm aims to become Japan’s first publicly listed company to serve as a validator for the staking protocol Babylon, set to begin in Q2 of the fiscal year ending in April. This move aligns with a growing trend of Japanese companies increasing their cryptocurrency holdings, following Remixpoint’s $1.38 million Bitcoin purchase in December 2024.

• Gumi Inc. will invest $6.6 million in Bitcoin by May to enhance its blockchain node operations and expand its web3 presence.

• The company also plans to serve as a validator for the staking protocol Babylon, marking a significant step in Japan's corporate adoption of blockchain technology.

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