Ethereum is trading at $2,378, down 5% in the past 24 hours after reaching a weekly high of $2,693. Even with the decline, Ethereum (ETH) is still up over 35% in the past month, showing strength amid a recent crypto…

Ethereum retraces to $2.3K after strong rally, analysts eye fresh upside ahead

Tatsu Works is pulling the plug on Tatsumeeko: Lumina Fates, ending a three- 
year journey backed by $7.5 million in venture capital. Blockchain game 
developer Tatsu Works said it&#8217;s stopping the development of its MMORPG-lite 
title &#8220;Tatsumeeko: Lumina Fates,&#8221; three years…

Blockchain game developer shuts down Tatsumeeko: Lumina Fates three years after $7.5m funding

Over the last few days, the Dogecoin price has struggled to hold up with the 
Bitcoin price hitting multiple resistances. This has triggered a wave of 
liquidations for crypto traders who have been betting on the price to go 
higher. The decline has also raised concerns as to whether the bullish rally 
that began at the start of the month is finally over. Dogecoin Price Faces 
Major Resistance Crypto analyst MindfullyLost has explained what is plaguing 
the Dogecoin price recently. According to the crypto analyst, the Dogecoin 
price has seen good support on the 4HR, which has continued to be above $0.21, 
even through the downtrend. Related Reading: Golden Ratio Multiplier Called 
Bitcoin Top In 2021 – Here’s What It’s Saying Now Also, when it comes to the 
hourly chart, there is also support forming for Dogecoin at this level. This 
comes after a retest of the $0.22 level before the bulls were able to bounce. 
This shows weakness in this support and could fail with a more dominant move. 
Presently, there is resistance mounting at $0.23 for the Dogecoin price and 
the bears are already bearing down on this level. As the crypto analyst shows, 
a break above this level would be confirmation of the uptrend for the Dogecoin 
price, making it a buy zone. The next major resistance after this then lies at 
$0.25 and this is the moment of truth for Dogecoin. Bulls would have to 
completely test and clear this resistance level. Otherwise, the chances of the 
price falling back down toward support at $0.21 remain high. What&#8217;s Next For 
DOGE? The Dogecoin price is currently consolidating and according to the 
crypto analyst, this consolidation could continue for a while. This would 
translate to sideways price movement for the foreseeable future, as well as a 
continuation of the battle for dominance between the bears and bulls. Related 
Reading: Cardano Market Structure Says Crash Is Coming, But $0.9 Is Still In 
The Cards Bulls would have to start pushing the price higher to actually try 
to test the first resistance level. Until then, Dogecoin could plunge further 
into the oversold territory, which would not be entirely bad for the price, 
making the rebound even stronger. As for how high the Dogecoin price could go 
if it breaks major resistance levels, some crypto analysts have called for a 
bounce to at least its previous all-time high at $0.71. While others have 
speculated that $1 is a natural destination for Dogecoin, and double-digit 
predictions, such as reaching as high as $10, have also made it to the 
forefront. Featured image from Dall.E, chart from TradingView.com

Dogecoin Price Resistance In View: Why The Key Lies At $0.25

A court decision in Australia could open the door to as much as $640 million 
in capital gains tax (CGT) refunds on Bitcoin transactions after a judge ruled 
that crypto should be treated as money rather than a taxable asset.
On May 19, the Australian Financial Review (AFR) reported that the decision 
arose within a criminal case involving federal police officer William 
Wheatley, who allegedly stole 81.6 Bitcoin (BTC) in 2019. At the time, the 
assets were worth roughly $492,000. At current market prices, the tokens are 
valued at more than $13 million.
In the case, Judge Michael O&#8217;Connell of Victoria ruled that Bitcoin qualifies 
as a form of money rather than property, likening the digital asset to 
Australian dollars rather than to shares, gold or foreign currency.
The interpretation could set a legal precedent, potentially placing Bitcoin 
transactions outside the scope of Australia&#8217;s current CGT regime.
## New court ruling challenges Australian crypto tax laws
In an AFR interview, tax lawyer Adrian Cartland said the verdict &#8220;totally 
upends&#8221; the Australian Taxation Office&#8217;s (ATO) current position.
Since 2014, the ATO has classified crypto assets as CGT assets. This means 
that users must pay tax when selling or trading them. Under the ATO&#8217;s 
guidance, any disposal of Bitcoin, including selling it for fiat, exchanging 
it for another crypto or using it to purchase goods or services, constitutes a 
CGT event.
This framework has been the basis for taxing cryptocurrency transactions in 
Australia for over a decade. However, the recent ruling challenges the 
approach by suggesting that Bitcoin functions more like money than property. 
This potentially exempts it from CGT.
_**Related:**__**Australian feds seize mansion, Bitcoin allegedly linked to 
crypto exchange hack**_
## Tax refunds could reach $640 million
Cartland said it was held that Bitcoin is Australian money. &#8220;That is, it is 
not a CGT asset. Therefore, acquisitions and disposals of Bitcoin have no tax 
consequences,&#8221; the tax lawyer added.
If the ruling is upheld on the appeal, Cartland estimates that there could be 
potential tax refunds totalling 1 billion Australian dollars ($640 million).
However, while Cartland thinks there could be up to a billion in refunds, the 
ATO said there were no official figures that confirm the amount to be 
potentially refunded if the case changes how Bitcoin is taxed in Australia.
_**Magazine:**__**Binance Wallet &#8216;killing&#8217; MetaMask and airdrops, Chinese RWA 
tokens: Asia Express**_

Australian court ruling could lead to $640M in Bitcoin tax refunds

Australian authorities have seized more than $4.5 million in assets from a 
Queensland man, who was linked to the 2013 theft of 950 BTC from a French 
crypto exchange. In a May 18 statement, AFP-led Criminal Assets Confiscation 
Taskforce said…

Australian federal police seizes $4.5M in assets tied to 2013 crypto theft

Bitcoin&#8217;s days of triple-digit annual returns may be behind it as growing 
institutional adoption flattens its long-term growth trajectory, on-chain 
analyst Willy Woo suggests. Once seen as a rocket fueled by internet hype and 
retail dreams, Bitcoin (BTC) may be…