The UK’s tax authority is asking people for their opinions on proposed new rules, which are designed to make it easier for people who use cryptocurrencies to pay their taxes. UK tax advisors have praised new proposed rules that would reduce the tax burden on crypto users who engage in decentralized finance (DeFi) lending and…
Revolut, a digital bank that allows crypto investments, has entered the Latin American market by launching its services in Brazil. This move aims to cater to the increasing demand for cryptocurrency assets in the country. Revolut already offers crypto investment options to its European clients. Revolut, a digital bank that offers crypto investments across Europe,…
The founders of 3AC’s OPNX Exchange, Kyle Davies, Su Zhu, and others, have been formally reprimanded by Dubai’s Virtual Assets Regulatory Authority for running an unregulated exchange, following two cease-and-desist letters. Dubai’s cryptocurrency regulator has issued a formal notice to OPNX, a bankruptcy claims exchange created by the founders of the failed hedge fund Three…
ByBit, a cryptocurrency exchange based in Dubai, has launched a service where users can lend out their cryptocurrencies for interest. This puts ByBit in the same group as other major exchanges that already offer similar services. ByBit has launched a new cryptocurrency lending service for its users, following in the footsteps of several other major…
Even though Coinbase’s shares have fallen because of its legal issues with the SEC, Cathie Wood still thinks the crypto exchange will do well. ARK Invest, a company started by famous investor Cathie Wood, bought shares of Coinbase, a company that lets people trade cryptocurrencies, on International Workers’ Day. On May 1st, ARK Invest bought…
Legal documents filed in court are calling for a solution to a problem that could be important for customers and investors of Celsius, a cryptocurrency lending platform. Crypto lending platform Celsius wants to merge its U.K. and U.S. entities. However, court filings claim that the difference between the two companies was not real, and merging…
A group of people are trying to sue Coinbase together because they believe the company broke the rules on privacy in Illinois. They say that Coinbase took their fingerprints and facial scans and kept them without their permission. A lawsuit that many people want to join says that Coinbase broke the law in Illinois when…
In a recent interview, Coinjar CEO and co-founder Asher Tan said, “While other exchanges are concerned about regulation, we see it as an opportunity.” The CEO of Australian cryptocurrency exchange, Coinjar, is not worried about the risks associated with regulations as the exchange plans to expand its presence in the United States. Coinjar CEO and…
According to claims, Poloniex didn’t follow the rules of checking and verifying their customers’ identities correctly from 2014 to 2019. Poloniex LLC, a US company that was once related to Poloniex cryptocurrency exchange, has agreed to pay $7.59 million to settle allegations of breaking sanctions rules made by the US Treasury Department’s Office of Foreign…
Bit Mining has released new machines for mining Dogecoin and Litecoin, which are the latest versions of their mining devices. BIT Mining has created new and improved mining machines for the cryptocurrencies Dogecoin and Litecoin. The LD4 is the latest version of their ASIC mining machines, which are specifically designed to work on the DOGE…
Binance CEO CZ has warned Justin Sun and other large cryptocurrency holders not to misuse the SUI airdrop given out by Binance Launchpool, or else he will take action against them. Binance CEO, Changpeng “CZ” Zhao, warned Justin Sun, the founder of Tron, not to misuse the Binance Launchpool’s SUI airdrop, which started on May…
The regulatory body is thinking about allowing digital asset exchanges to operate on a trial basis. Nigeria’s Securities and Exchange Commission is thinking about allowing the offering of tokenized coins that are backed by equity, debt or property, but not cryptocurrency. These offerings would be available on licensed digital asset exchanges, and the regulator is…
In April, the daily record for new inscriptions was broken four times. The amount of Bitcoin transactions is very high, possibly even the highest it has ever been. On Saturday, there was a significant increase in the use of Ordinals, a technology that records digital assets on Bitcoin, making assets similar to NFTs on Ethereum….
Russian authorities plan to create a committee to issue permits to companies that use cryptocurrency for international trade transactions. A top government official in Moscow has said that while cryptocurrency may be risky for investors, it can still have practical applications in settling international transactions. Russia Plans to ‘Experiment’ With Cross-Border Crypto Payments Amid Sanctions…
ChatGPT predicts a 15% chance of Bitcoin becoming irrelevant and its prices dropping 99.99% by 2035. A person from Coinbase says they found a way to use ChatGPT to predict the likelihood of unusual crypto price situations. They call it a “jailbreak.” Conor Grogan, who is the head of business operations at Coinbase, posted a…
“OKX, a company that lets you buy and sell cryptocurrencies, is using a new and advanced way to prove that they have enough cryptocurrency to cover all their customer deposits. This new method, called zk-STARK, helps ensure that customer’s cryptocurrency deposits are secure and protected.” This method helps OKX prove that they have enough…
Michelin, a tire company, will release a new set of digital collectibles called the “Michelin 3xplorer Club” as non-fungible tokens (NFTs) on the Ethereum blockchain. These NFTs will be available for purchase starting June 15, and only 5,000 of them will be made. The Michelin food guide might be related to the Michelin 3xplorer Club…
Paypal, a US-based fintech company, is expanding its crypto services to Venmo users. This new feature allows Venmo customers to transfer money to an external wallet, a Paypal account, or a cryptocurrency exchange. Previously, Paypal introduced the option to pay with cryptocurrencies on its platform. Venmo users can now send cryptocurrency to other Paypal users,…
The people who make Shiba Inu are creating a special wallet that will help keep people’s money safer. The new wallet will have really good technology and look nice too. It will be important for people who want to keep their money safe for a long time because there are more and more bad people…
Kenyan residents will now have to pay taxes on their cryptocurrency trades and exchanges, as per the recent decision by the government. The government official in charge of finance, the Treasury Cabinet Secretary, has announced the release of new rules that have been published. Kenya has put a new tax of 1.5% on cryptocurrency trading…
Big companies like Google, FTX, and Binance.US are making moves in the world of cryptocurrency. Google is helping blockchain startups through its Web3 program, while the UK government is putting money into AI to improve public services. FTX has sold its LedgerX exchange to M7 Holdings for $50 million, and Binance.US has cancelled its $1…
Yuga Labs has hired the vastly experienced Mike Seavers as its new CTO starting in May The company hopes the new appointment will help it scale up in years to come Yuga Labs, the company behind Bored Ape Yacht Club and Otherside, has hired Mike Seavers as its new Chief Technology Officer (CTO). Seavers…
Everyone, including the government, banks, and companies that work with cryptocurrency, need to work together to find a way to help the UK become a leader in financial technology (fintech). Over the past few years, regulations for cryptocurrency have become stricter, which was necessary because of FTX’s failure. Having good regulations for the new cryptocurrency…
Koinly and Revolut have partnered to automatically sync tax filings for cryptocurrency transactions. The deal was being discussed since the start of 2023. Revolut has introduced a new tool to help its customers automatically report taxes for their cryptocurrency transactions, in response to increased scrutiny by tax authorities worldwide. Revolut has teamed up with Koinly,…
Venom has launched a public testnet for testing its blockchain technology. Experience Venom’s testnet ecosystem Venom has created a public test network where developers and users can try out and fix any issues with their dapps and blockchain protocols. This helps promote innovation and bring the community together. The Venom testnet provides various tools and…
Binance, which is among the world’s biggest cryptocurrency exchanges, intends to re-enter the Japanese cryptocurrency market after buying the licensed cryptocurrency trading platform Sakura trading Bitcoin (SEBC). The acquisition of SEBC by Binance was completed in November 2022, and the firm is expected to rename the SEBC platform as the Japanese version of Binance in…
The process of mediation can only begin once all parties involved in the Genesis Bankruptcy agree on a mediator and officially request the U.S. bankruptcy court’s approval. Lawyers for the bankrupt crypto lender, Genesis Global, said during a hearing on Friday that the company, along with its creditors and other parties, has agreed to a…
Hong Kong’s central bank is telling banks to start providing services to cryptocurrency companies even if they haven’t received their license yet. Hong Kong’s central bank and regulator, the HKMA, has requested that banks offer their services to companies dealing with cryptocurrencies. On April 27, the Hong Kong Monetary Authority (HKMA) issued a document about…
Last November, the biggest website for buying and selling digital money bought a smaller website called Sakura Exchange BitCoin. On Friday, it was announced that Binance, which is the biggest website for buying and selling digital currencies, will soon start working in Japan. Last November, Binance bought a regulated digital currency exchange called Sakura Exchange…
Dogecoin is now available on Binance alongside the USDT and BUSD trading pairs. The TUSD trading pair for Dogecoin will be live on April 27. Binance, the largest cryptocurrency exchange in the world, announced on Thursday that it will add a new DOGE/TUSD trading pair. This addition is an attempt to increase the trading volume…
Cogni, a neobank, has launched a new feature for its noncustodial crypto wallet users. Customers will be able to receive soulbound NFTs, which include information from the KYC protocol that the bank carried out when they created their account. The NFTs will be created on the Polygon network, allowing customers to convert their Web2 KYC…
iZUMi Finance raised $22 million to launch iZiSwap Pro, a decentralized exchange operating on the zkSync Era network’s order book. iZiSwap Pro is a part of iZUMi Finance, which is a service that provides liquidity all in one place. Semi-fungible tokens were issued for fundraising iZUMi Finance, a DeFi protocol, raised $22 million to improve…
Bitget crypto exchange has announced that Hong Kong residents will not be able to access its services through its main platform, Bitget.com, as the launch date of Hong Kong’s virtual assets service provider (VASP) regime gets closer. To comply with Hong Kong’s virtual assets service provider (VASP) regime, Bitget crypto exchange has made a new…
On Thursday, Senators Kirsten Gillibrand and Ted Budd, along with Congressmen Zach Nunn and Jim Himes, proposed a new law (bill). A group of politicians from both the U.S. Senate and House of Representatives introduced a new law (bill) on Thursday. This law would ask the federal government to research how people might be using…
Zodia Custody is planning to use some money to expand the number of digital tokens that it can manage and improve its product called Interchange, which helps to transfer those tokens securely. Zodia Custody, a company that stores cryptocurrencies, has received $36 million from two investors: SBI Holdings, a financial services firm based in Japan,…
Bitget, a company that allows people to trade cryptocurrency, has promised to give $10 million to help build something called the Fetch.ai ecosystem. This is because there is a growing interest in tools that use artificial intelligence, like ChatGPT, and Fetch.ai is one of those tools. They made this announcement on April 27th. Fetch.ai has…
Alphabet’s technology conglomerate, Google, has expanded its Google for Startups Cloud Program to include Web3 companies. This move will provide benefits to firms working on Web3 applications that utilize blockchain technology, such as Alchemy, Aptos, Base, Celo, Flow, Hedera, Nansen, Near, Polygon, Solana, and Thirdweb. We are very excited to team up with @googlecloud in…
Romania has recently launched a new online platform for trading NFTs (non-fungible tokens), which is meant for use by institutions. This is the first time Romania has made a move into the world of Web3 technology. NFTs are unique digital assets that can be bought and sold, and are often used in the art world….
Recently, the cryptocurrency Arbitrum (ARB) gave away 90.15 million tokens to its community through an airdrop. The tokens were sent to 131 addresses belonging to DAOs (decentralized autonomous organizations), and the total value of the tokens distributed was approximately $118 million. Right after the airdrop, someone who goes by the name “TRIDENT” sold 131,345 ARB…
The CEO of RockTree Capital, Omer Ozden, has asked the regulators and financial institutions in Hong Kong to support the use of web3 technology. He believes that this will make Hong Kong a central hub for crypto capital markets, which will help to improve its position in the global market. Omer Ozden was invited to…
The European Parliament recently approved a set of regulations called MiCA. This is causing the French financial authority to look for ways to help companies quickly follow these regulations if they are already registered. The French Financial Markets Authority (AMF) released a statement on April 21 expressing its happiness with the adoption of MiCA regulations….
There was a platform called Ordinals Finance where people could trade Bitcoin inscriptions. They used Ethereum to do this. But now, the platform has deleted its Twitter and Telegram accounts, and it seems like they have taken away $1 million from users. This information was shared by a company called CertiK, which helps keep blockchain…
On Monday, Coinbase, which is a top cryptocurrency exchange, took legal action against the SEC by filing a lawsuit. The lawsuit was filed in response to a petition that was submitted in July 2022 requesting regulatory clarity from the SEC regarding the regulation of securities traded through digital means. The petition had asked whether the…
A Binance executive has claimed that the former head of FTX, Sam Bankman-Fried, regularly spread false rumors and denigrated his rival, Binance CEO Changpeng Zhao (CZ). The executive referred to CZ as SBF’s ‘Darth Vader’. This behavior reportedly occurred before the collapse of SBF’s FTX and Alameda Research empire. A great read by @WilliamCohan at…
Initially, the derivatives platform will offer a perpetual contract for BTC that is denominated in Gemini Dollar, and subsequently, it will introduce an ETH/GUSD perpetual contract. On April 21, Gemini, a crypto exchange based in the United States, revealed its plans to launch a derivatives platform in international markets. This move comes amidst an uncertain…