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Medical diagnostics company Semler Scientific has reported steep unrealized losses on its Bitcoin holdings. In its most recent SEC filing dated April 15, the company revealed a paper loss of approximately $41.8 million for the first quarter of 2025. This loss stems from the sharp drop in BTC prices, which slid from $93,500 at the beginning of January to almost $82,000 by March 31. Despite the downturn , Semler remains heavily invested in the cryptocurrency and holds 3,182 BTC at quarter’s end. The firm, which ranks as the twelfth-largest corporate Bitcoin holder globally, right above Boyaa Interactive International Limited, continues to double down on its digital asset strategy. CEO Doug Murphy-Chutorian reiterated this stance when he affirmed the company’s dual focus on Bitcoin accumulation and ongoing healthcare innovation. Financially, Semler projected modest revenue between $8.8 million and $8.9 million for the quarter, but operating losses are expected to land between $1.3 million and $1.5 million. As of March 31, Semler reported having about $10 million in cash and cash equivalents. In yet another strategic move, the company also announced plans to issue up to $500 million in securities, the proceeds of which are earmarked for general corporate purposes, including continued cryptocurrency purchases. However, investor sentiment appears wary. The company’s stock, traded under the ticker SMLR on the Nasdaq, has declined by more than 22% since the start of the year. Semler Scientific announced via a separate 8-K filing that it has reached an agreement-in-principle to resolve longstanding legal concerns with the Department of Justice (DOJ). The company said that it is prepared to pay around $30 million to address allegations that it violated the False Claims Act through improper marketing practices tied to devices billed to Medicare. The DOJ’s civil investigation dates back to 2017, when it issued a formal demand to examine potential fraud. While this proposed settlement would mark a major step toward resolution, Semler’s filing noted that a finalized agreement with the agency is not yet guaranteed.

Russian legislators are now planning to create new definitions within the criminal code concerning cryptocurrencies and other related tools. The government believes that this change will facilitate the police’s ability to confiscate property containing prohibited content during an investigation. The Russian Government Commission on Legislative Activity has endorsed a bill from the Ministry of Justice defining the terms ‘crypto’ in the Criminal Code and the Criminal Procedure Code, as cited by Vedomosti. However, at the present time, no such definitions are provided in the Russian legislation, which hinders the investigation of related cases. The government is expected to send this draft bill to the State Duma soon for legislative review soon. The authorities have expressed a number of concerns about the fact that it is often unclear how police forces should deal with crypto-related crimes. According to public prosecutors, since digital currencies do not have a legal definition, it is hard to explain ownership, storage, or following legal injunctions involving crypto wallets. The current legislation allows the Russian courts to recognize cryptocurrencies as intangible items only under specific circumstances, such as bankruptcy and counter-terrorism. He noted that more comprehensive criminal investigations remain without clear guidelines for their identification or treatment. Vladimir Gruzdev, the Chairman of the Association of Lawyers of Russia, claimed that in most cases, law enforcement agencies turn to private experts in order to deal with cryptocurrencies. Cold storage wallets can be physically seized while moving funds from online or ‘hot’ wallets, which are done through safe methods that are not covered in the current laws. The new draft law provides a legal framework for dismissing and confiscating crypto assets and defining asset handling and management. While some legal professionals praised the idea as overdue, done. However, there are issues with regard to the technical feasibility of the acquisition by the police forces without violating the rights of third parties. Maria Bakakina, an adviser at Sokolov Trusov and Partners, asked how the court could confiscate crypto assets in previous cases without applying the law. She pointed to an incident that occurred in 2022 when 24 ETH wallets were confiscated in St. Petersburg, turning a blind eye to due process. “The question immediately arises: What legal mechanism have courts previously used to seize cryptocurrency?” Bakakina noted. However, enforcement bodies are already adjusting to the new situation. In early April, Federal Bailiff Service head Dmitry Aristov acclaimed that new approaches are currently being designed to swap seized BTC into fiat for the state treasury. In parallel, Russian officials are actively working to decrease the reliance on Western-controlled digital assets. The Russian Ministry of Finance is looking at the potential of establishing a stablecoin of Russia linked to foreign currencies. This urgency comes in the wake of the freeze of $30 million worth of Tether’s USDT connected to the recently sanctioned Russian crypto exchange Garantex. That disrupted its operations and highlighted the challenges of using other stablecoins regulated by foreign entities. During the latter, Osman Kabaloev, the deputy head of the Finance Ministry’s financial policy department, suggested that the government would need to issue a stablecoin to campaign for its citizens. He revealed that Russia has to have digital tools that cannot be shut down by other people.

The U.S. Department of Justice plans to reevaluate how to return assets to victims in crypto crime cases The U.S. Department of Justice said in a memorandum that it would review a practice: how to compensate investors at a price lower than the current market value when digital assets were confiscated in cases involving fraud and theft. The memorandum mentioned that the Department of Justice paid attention to some famous bankruptcy cases in 2022. Although not all of these bankruptcy cases involved criminal charges, many of them caused investors to lose digital assets due to fraud and theft. In addition, the Department of Justice pointed out that the value of these digital assets has risen sharply in the following years. Under current U.S. bankruptcy regulations, confiscated assets should be returned to victims at the dollar value at the time the fraud occurred. Although this may seem unfair, experts say there are important reasons behind this rule and it may be very difficult to change it. (Unchained)

The U.S. Department of Justice will reassess the approach to returning assets to victims in cryptocurrency crime cases.

In a major setback for victims of the July 2024 WazirX cryptocurrency hack, the Supreme Court of India today dismissed a criminal petition filed by over 50 users seeking action against the exchange’s management, including co-founder Nischal Shetty, as well as Binance Holdings and Liminal Custody. The court explicitly cited the unclear regulatory landscape surrounding cryptocurrencies in India as its reason, stating it was “not inclined to entertain the plea.“ The petition, which detailed allegations of severe negligence, poor management of user assets, and inadequate security protocols leading to an estimated loss of over 2,000 crores (approximately $234 million) was presented before a bench comprising Justice BR Gavai and Justice Augustine Masih. However, the bench swiftly dismissed the case. Justice Gavai explicitly stated the court’s reluctance to intervene, advising the victims to “make representation to the authorities and let it be decided in accordance with law.” The dismissal was confirmed to The Crypto Times by advocate Priyanka Prakash, representing the aggrieved WazirX users. Related: WazirX Moves Closer to Resuming Operations Following Creditor Vote The petitioners, who had previously approached the Delhi High Court without success, were seeking a criminal probe into the massive cyberattack that had left an estimated 4.4 million Indian users stranded since July 2024. This outcome highlights user frustration, with some market participants noting the irony of India imposing a 30% tax on crypto gains while offering unclear legal recourse for major losses. This regulatory gap is seen by some as hindering legal action, placing focus on regulators like the RBI and SEBI to provide clarity. While this Supreme Court avenue closed, WazirX announced a separate restructuring plan last month. Approved by a Singapore court, the plan promises to eventually return 85 percent of lost assets to affected investors. Related: Using Binance in India? Tax Crackdown Targets 1% TDS Dodgers Harshly A recent WazirX press release stated over 93.1% of voting creditors (representing 94.6 percent of funds) support this restructuring proposal. The plan’s next court hearing is scheduled for May 2025. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.