Infrastructure bill’s crypto tax provisions to be signed into law—and 5 other crypto updates you should know – CNBC

Infrastructure bill’s crypto tax provisions to be signed into law—and 5 other crypto updates you should know – CNBC

1. Robinhood’s data breach involved about 7 million customers

Online brokerage Robinhood announced on Monday that a Nov. 3 data breach involved exposure of personal information for about 7 million customers, CNBC reported.

For 5 million of them, email address were accessed. Another 2 million had their full names revealed. For about 310 users, name, date of birth and ZIP code were exposed. About 10 customers had more extensive account details revealed.

Robinhood said it is alerting affected individuals, and noted that based on its investigation, no Social Security numbers, bank account or debit card numbers were exposed.

2. Ripple to launch crypto service for financial companies

On Tuesday, Ripple announced that it is set to launch a product called Liquidity Hub, which will allow financial services firms to offer their customers access to cryptocurrencies, CNBC reported.

The San Francisco-based fintech start-up will offer trading in cryptocurrencies such as bitcoin, Ethereum, litecoin, ethereum classic, bitcoin cash and XRP. The Liquidity Hub feature will launch in 2022.

Ripple is in a legal battle with the U.S. Securities and Exchange Commission (SEC) over XRP, a cryptocurrency with which it is closely associated. The SEC is suing Ripple and its executives for allegedly raising funds through an unregistered securities offering. Ripple is fighting the suit.

3. Tim Cook says he owns cryptocurrency

“I think it’s reasonable to own it as part of a diversified portfolio,” Cook told Andrew Ross Sorkin at The New York Times DealBook conference.
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