CryptoWatch: $500K Worth of Bitcoin Split on Divorce, Coinbase One Launch, and EU's Crypto Regulations

Isaiah Richard, Tech Times 21 May 2023, 10:05 pm

Massive changes in the industry were seen by CryptoWatch in the past week, and it only says one thing, the crypto world is evolving, and humans are adapting to it fast. One of the largest news last week was with a wife who was able to trace as much as $500,000 Bitcoin and who wants it to be split on their divorce, with Coinbase One launching to the world, and the EU's approval of its cryptocurrency regulations.

These new changes may be part of the world's move towards crypto acceptance, but some may not be happy that the digital coins are easy to track, as well as the new regulations for it.

$500,000 Bitcoin Traced, Wife Wants to Split on Divorce

A man who hid his Bitcoin from his wife, with as much as $500,000 in holdings, was recently discovered amidst their divorce proceedings.

The woman teamed up with a forensic accountant who helped look for the hidden Bitcoin, and according to Coin Telegraph, Sarita (not the woman's name) was able to link the undisclosed top crypto to her husband.

Bitcoin which sells now for around $26,000 (via CoinMarketCap), was hidden to the wife, holding as much as 12 BTCs in his name. Moreover, he is a high-figure earner, with as much as $3 million per year of earnings in his job.

With this discovery, the Bitcoins would be part of the divorce settlement split, but it is yet unknown how much the husband will take and give away to his soon-to-be ex-wife when they part ways.

Coinbase Launches Coinbase One Subscription

A subscription service is coming from Coinbase, and this was recently announced by one of the world's largest crypto-exchange platforms, with the company calling it Coinbase One. This new subscription will bring users premium perks and features when they use the wallet, and among the top experiences here would be free transfers.

For $29 monthly, Coinbase One offers more than zero trading fees as it also offers massive interest rates for growing one's assets, with as much as 6.94 percent APY up for grabs. Additionally, Coinbase offers pre-filled tax forms that will help in declaring their assets without a hassle, and a 24-hour customer service to assist them with everything they need.

EU's New Crypto Regulations

The drafted and reviewed cryptocurrency regulations in the European Union were recently approved by the European Commission, in a bid to protect consumers from the many scrutiny in the industry. The goal is to avoid fraudulent transactions or criminal activities involving digital assets, helping more of the public's use of the cryptos.

Its main feature is that it can trace crypto transfers from one wallet to another, and this would avoid fraud or money laundering, a known massive problem in the crypto world, especially in Europe. Member states will now be protected by this regulation to help their crypto management and use, alongside strengthening MiCA, a service that protects consumers under the EU's regulations.