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Mt. Gox, one of Bitcoin's largest exchanges, declared bankruptcy in February after losing 744,000 BTC in a massive security breach.
The collapse shook confidence in early exchanges, underscoring the need for improved security and regulatory oversight in the crypto industry.
The IRS ruled that Bitcoin would be taxed as property, not currency, setting a precedent for how digital assets are treated for tax purposes in the U.S.
BitPay became the sponsor of the St. Petersburg Bowl, renaming it the 'Bitcoin St. Petersburg Bowl' and marking a notable moment for Bitcoin's visibility in sports.
With CFTC's approval of TeraExchange's Bitcoin swap, Bitcoin gained a foothold in regulated financial products, allowing for more institutional investment and a step toward integrating Bitcoin into mainstream finance.
Microsoft's acceptance of Bitcoin for Xbox games and digital products made it one of the largest tech companies to support Bitcoin, reinforcing its legitimacy as a payment option in the digital marketplace.
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