Bitcoin Creator Lawsuit, Ripple Buys Hidden Road, Trump Ends Tax Rule

April 14, 2025

Crypto World

Maciej Zerelik

Stay sharp with the latest from StealthEX and CryptoDaily. We highlight the biggest crypto updates every week. No fluff—just the facts that matter. Want to know what’s hot right now? Our quick recap keeps you informed without the jargon. Simple. Clear. Up-to-date. Ready to dive in? Let’s go.

Lawyer Demands US Reveal Bitcoin Creator’s Identity

Crypto attorney James Murphy launched a lawsuit against the U.S. Department of Homeland Security. Murphy demands that the agency disclose who they believe created Bitcoin. The identity of Bitcoin’s creator, known as Satoshi Nakamoto, remains secret. Murphy’s lawsuit relies on claims made by DHS agent Rana Saoud in 2019.

Saoud previously stated DHS met four people who allegedly created Bitcoin. Murphy believes government documents about these meetings exist. He insists the government should release such records under the Freedom of Information Act. 

The lawsuit could push officials to confirm or deny Saoud’s statements. DHS agents reportedly questioned the group about Bitcoin’s purpose and creation. Murphy promises to follow the case through, but admits DHS might have made errors. Bitcoin’s real creator has long fascinated crypto enthusiasts.

Confirming Satoshi’s identity might change public views of cryptocurrency. Murphy announced his lawsuit on social media, challenging the government’s silence on Bitcoin’s mysterious origin.

The government has yet to respond publicly to the allegations. Murphy intends to uncover the truth, regardless of the outcome. The Bitcoin community eagerly awaits developments in this unusual legal battle involving the world’s first cryptocurrency.

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Ethereum Developer Virgil Griffith Free After Prison Term

Virgil Griffith, a former Ethereum Foundation programmer, left prison after serving a sentence for breaking U.S. sanctions. Griffith pleaded guilty in 2021 for speaking at a blockchain conference in North Korea.

Prosecutors claimed Griffith taught North Koreans methods for evading sanctions using cryptocurrency. His original sentence was 63 months, but later reduced to 56. Griffith was involved in significant projects at Ethereum, especially the Ethereum Name Service (ENS).

Before joining Ethereum, Griffith worked on various digital security tools and projects. After prison, Griffith will stay temporarily in a halfway house and then begin parole. Restrictions on employment during parole might affect his return to the crypto industry. 

Despite his conviction, supporters argued Griffith’s speech provided only basic, publicly available information. His defense team insisted Griffith was exercising free speech rights protected by the U.S. Constitution. 

Griffith’s future role in the crypto sector remains uncertain. He may assist companies seeking stronger protections against cyber threats from entities like North Korea’s Lazarus Group. 

Griffith’s experience and technical skills could be valuable for projects prioritizing blockchain security. Griffith’s release ends a controversial chapter connecting blockchain technology with geopolitical tensions involving North Korea.

Coinbase Launches Verified Pools for Safer Crypto Trading

Crypto exchange Coinbase introduced a new product called Verified Pools. These liquidity pools provide safer trading conditions for verified Coinbase customers. Currently, users in the U.S., Singapore, Netherlands, and certain other regions have access.

Coinbase created Verified Pools to offer secure trading for both individual investors and institutional clients. All participants in Verified Pools must pass Coinbase’s KYC verification process. Coinbase aims to lower trading risks linked to decentralized finance (DeFi) markets. Verified Pools operate using Coinbase’s own Layer-2 blockchain network called Base.

The product also utilizes the advanced Uniswap v4 protocol. Coinbase partners with Gauntlet, a top risk management company, ensuring the safety and health of these pools. Traders using Verified Pools enjoy focused liquidity, allowing better returns by targeting specific price ranges. 

The system ensures access only to verified users, greatly reducing fraud risks. Additionally, Coinbase emphasizes that Verified Pools let customers retain full control over their crypto assets. 

To use Verified Pools, customers must verify their identity through Coinbase’s procedures. The move by Coinbase aims to boost confidence among institutions hesitant to engage with DeFi due to compliance concerns.

Ripple Buys Hidden Road in Major Crypto Deal

Blockchain payments company Ripple agreed to buy crypto-focused prime brokerage Hidden Road for $1.25 billion. This acquisition marks a major step toward blending crypto assets with traditional finance.

Hidden Road provides prime brokerage, clearing, and financing services to global institutions. Ripple will become the first crypto company to own such a major prime brokerage service.

After the deal, Ripple’s role as a crypto-focused prime broker will significantly expand. Hidden Road clears over $3 trillion annually for over 300 major clients globally. Ripple’s acquisition could attract more traditional finance companies into crypto markets. 

Ripple CEO Brad Garlinghouse stated that the purchase opens new growth possibilities for digital assets. Ripple also emphasized their newly launched RLUSD stablecoin as a key benefit from this purchase. 

Hidden Road will use RLUSD stablecoins as collateral for its prime brokerage services, enhancing its usefulness. Additionally, Ripple plans to move Hidden Road’s activities onto its XRPL blockchain to improve operational efficiency. 

Ripple believes this move will showcase XRPL’s potential for institutional finance. The deal positions Ripple as a leading financial infrastructure provider bridging traditional markets with decentralized finance solutions.

New Hampshire Votes to Invest State Funds in Bitcoin

New Hampshire lawmakers passed a bill allowing state funds to invest in Bitcoin. The state’s House approved the measure by a narrow margin of 192-179. Under the proposed law, up to 10% of New Hampshire’s treasury funds could be invested in assets like Bitcoin and precious metals.

Currently, only Bitcoin qualifies, since the bill requires a minimum market cap of $500 billion. Representative Keith Ammon, who sponsored the bill, argues it would diversify state investments away from reliance on the US dollar. 

Critics, including Democrat Terry Spahr, say the measure is unnecessary and risky. Spahr pointed out the state already has authority for such investments, adding concerns about volatile crypto prices. 

The bill now heads to the Senate, and if passed, Governor Kelly Ayotte will decide its fate. New Hampshire is following states like Texas, Arizona, and Oklahoma, which recently adopted similar laws. 

Separately, Florida is advancing its own Bitcoin investment bill, aiming to allow its treasury to invest in digital assets. Florida lawmakers claim the move positions the state as a pioneer in crypto-friendly policy, signaling growing state-level enthusiasm for Bitcoin as a financial reserve.

Trump Signs Law Ending Controversial Crypto Tax Rule

President Donald Trump signed legislation eliminating a crypto tax rule from the Biden administration. The controversial rule had required decentralized finance platforms to report user transactions like traditional financial brokers.

Lawmakers described it as excessive, claiming it unfairly burdened crypto companies with paperwork and threatened user privacy. Senators Ted Cruz and Mike Carey introduced the resolution to remove the rule.

Carey called the regulation misguided, saying it distracted the IRS from its core duties. Both Republican and Democratic lawmakers supported repealing the regulation, though Republicans provided the main backing. 

Trump’s decision means DeFi platforms no longer have to collect extensive personal data from customers for tax reporting purposes. The change offers immediate relief to crypto companies concerned about compliance costs. Industry representatives had warned that the rule risked driving innovation overseas.

Now, digital asset services have greater flexibility without burdensome reporting requirements. This repeal highlights the Trump administration’s friendlier stance on cryptocurrency compared to its predecessor. It also marks one of the first crypto-specific bills signed into law by a U.S. president.

SEC Drops Crypto Lawsuit Against Nova Labs

The SEC has dismissed its lawsuit against Nova Labs, creators of the Helium crypto network. Initially filed under former Chairman Gary Gensler, the lawsuit accused Nova Labs of offering unregistered securities.

The dismissal came immediately after new SEC Chair Paul Atkins took office. Nova Labs called the outcome a critical win, declaring Helium tokens officially exempt from classification as securities.

The firm argued that distributing tokens and selling network hardware did not automatically mean securities violations. This move by the SEC signals a broader shift away from strict enforcement under the previous leadership. 

The agency recently dropped cases against major crypto firms like Kraken, Coinbase, and Ripple, reflecting a softer regulatory approach. The crypto industry sees these actions as proof of Trump’s promises to support blockchain innovation.

New leadership at the SEC has sent positive signals to crypto companies, emphasizing clearer regulatory guidance rather than aggressive legal challenges. Nova Labs’ victory might encourage similar crypto projects concerned about SEC scrutiny, reassuring them of fairer regulatory treatment moving forward.

Nigeria Recognizes Cryptocurrencies as Securities

Nigeria officially recognizes crypto as securities under a new law signed by President Bola Tinubu. This historic legislation ends years of uncertainty and conflicts between Nigeria’s government and crypto enthusiasts.

Nigeria previously imposed tough restrictions on crypto trading, citing financial crime concerns. However, despite those limits, Nigerians increasingly adopted crypto through peer-to-peer methods, making Nigeria Africa’s largest crypto market. 

This persistent demand led to the government reconsidering its position. The new Investment and Securities Act clearly defines crypto and digital tokens as securities. The Nigerian SEC will directly regulate virtual asset providers, offering a clearer legal environment. 

Analysts predict this change will encourage global crypto businesses to expand operations into Nigeria, potentially boosting the country’s digital economy. Financial experts praised the decision, highlighting its importance in attracting international investors and increasing crypto adoption. 

The regulatory clarity could also encourage younger Nigerians to engage more actively with blockchain-based investments and financial products, positioning Nigeria as a leading African hub for digital finance innovation.

Senate Confirms Paul Atkins as SEC Chairman

The U.S. Senate confirmed Paul Atkins as Chairman of the Securities and Exchange Commission (SEC). Atkins, previously an SEC commissioner, takes over from Acting Chair Mark Uyeda.

His confirmation signals a significant policy shift at the SEC, expected to ease restrictions for crypto markets and reduce regulatory complexity. Former SEC Chair Gary Gensler was known for tough enforcement against crypto firms, but Atkins brings a pro-business, innovation-friendly stance. 

President Donald Trump praised Atkins’ appointment, emphasizing his reputation for practical, growth-oriented financial policies. Industry leaders anticipate Atkins will support clear regulations for crypto, including Bitcoin, Ripple, and Solana-based ETFs.

Senate Banking Chairman Tim Scott called Atkins’ confirmation vital for reversing strict regulations from the previous administration. Crypto businesses expect Atkins’ tenure will promote innovation and reduce bureaucracy, improving the U.S.’s competitiveness in digital asset markets. 

Atkins’ history as a Wall Street consultant suggests he will advocate deregulation, focusing instead on investor access and market efficiency.

DOJ Shuts Crypto Enforcement Unit, Targets Terrorism Funding

The U.S. Department of Justice announced it would close its National Cryptocurrency Enforcement Team (NCET). Established in 2022, the NCET pursued broad regulatory enforcement against crypto companies under President Biden.

Deputy Attorney General Todd Blanche confirmed the shift, stating the DOJ is not a regulator of digital assets. Instead, prosecutors will now specifically investigate crypto used by terrorist groups, drug cartels, and organized crime. 

Blanche criticized the previous administration’s aggressive regulatory approach, describing it as reckless. President Trump’s policy aims to encourage crypto growth by reducing heavy-handed federal oversight.

Blanche’s memo directs prosecutors to end any crypto investigations inconsistent with this new targeted policy. This decision reflects Trump’s commitment to making America a global crypto leader. 

Crypto advocates welcomed the DOJ’s narrowed enforcement approach, arguing it would boost innovation and industry growth. The department’s new policy aligns with broader federal efforts under Trump to foster blockchain adoption without stifling technology startups.

Argentina Launches Inquiry into Milei’s LIBRA Crypto Scandal

Argentina’s Congress approved a formal investigation into President Javier Milei and the LIBRA cryptocurrency scandal. LIBRA rapidly soared after Milei endorsed it online, only to lose 90% of its value hours later.

Over 75,000 investors reportedly lost $280 million in the crash, prompting allegations of fraud. Argentina’s lower house created a special committee to investigate Milei’s connections with Kelsier Ventures, the firm behind LIBRA. 

The investigation will summon top government officials, including ministers and regulators, to testify. Milei denies involvement, claiming he didn’t fully understand the crypto project before promoting it.

He deleted promotional social media posts shortly after LIBRA collapsed. Opposition leaders claim Milei misled investors, calling for stricter crypto regulation in Argentina. The scandal has intensified political tensions, with Milei’s supporters dismissing the inquiry as politically motivated. 

This investigation could significantly impact Milei’s presidency and shape future crypto policy in Argentina. The incident also highlights the growing risks associated with celebrity-endorsed crypto projects, prompting calls for clearer investor protections.

This article is not supposed to provide financial advice. Digital assets are risky. Be sure to do your own research and consult your financial advisor before investing.