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Africa’s Crypto Market Grew by 1,200% Between 2020 and 2021 — Study
1.7.2023
Between the years 2020 and 2021, Africa’s cryptocurrency market grew by more than 1,200% while Kenya, Nigeria, South Africa, and Tanzania now all feature in the global top 20 for crypto adoption, according to the latest Emurgo State of Web 3.0 in Africa report. Africa’s Share of Global...
Slovakia to Lower Tax on Income From Crypto Holdings
1.7.2023
Lawmakers in Slovakia have adopted legislation that will reduce the tax burden for cryptocurrency holders in the country. Income derived from long-term investments in digital assets will also be relieved from healthcare taxes, the parliamentarians decided. Investors in Slovakia to Pay 7% Tax...
Haru Invest Fallout: South African Crypto Platform Says Customers Can Only Access 76% of Crypto Holdings
30.6.2023
The South African crypto platform, Revix, said on June 28 that customers can now only access just over three-quarters (76%) of their crypto assets. Revix said the move to block customers’ access to 24% of their crypto assets was made after one of its primary service providers Haru Invest...
UK Commission Publishes Recommendations for Reform and Development of the Law on Digital Assets
30.6.2023
The Law Commission of England and Wales has published its “recommendations for reform and development of the law on digital assets.” The recommendations, which seek to secure the U.K.’s position as a global crypto hub, are intended “to provide a comprehensive legal foundation...
European Banks to Disclose Exposure to Crypto Assets
29.6.2023
Banks in the European Union will have to disclose their exposure to cryptocurrencies, EU institutions announced. The obligation will be introduced under a deal to implement globally agreed regulatory standards meant to improve the resilience of the financial institutions. Deal Reached to Finalize...
Report: Swiss Authorities Seize $26 Million in Cryptocurrency Linked to Terraform Labs and Do Kwon
27.6.2023
Law enforcement officials in Switzerland reportedly seized approximately $26 million in bitcoin and other cryptocurrencies, believed to be linked to Terraform Labs and its co-founder, Do Kwon. Local media in South Korea revealed that the funds were confiscated from Sygnum, a crypto bank based...
Indonesia Labels 501 Cryptocurrencies as Commodities, Paving the Way for Regional Adoption
26.6.2023
In contrast to the regulatory stance taken by the U.S. Securities and Exchange Commission (SEC), the Commodity Futures Trading Supervisory Agency (CFTSA) of the Republic of Indonesia has officially labeled 501 cryptocurrencies as commodities. The list of these digital assets includes popular tokens...
Australia’s token mapping to be ‘tech agnostic,’ says Treasury official
26.6.2023
Trevor Power hopes the framework will fall closer on the “spectrum” to the EU’s MiCA, as opposed to the current regulatory position in the U.S
Crypto Market Rises by $30B in 48 Hours — Bitcoin Cash Leads With 88% Weekly Gain
25.6.2023
On Sunday, June 25, the cryptocurrency market experienced a modest increase in value, climbing from $1.21 trillion two days prior to its current value of $1.24 trillion. Bitcoin has surged 15% in the past week, while ethereum has risen over 10% against the U.S. dollar. Furthermore, numerous other...
Banking Giants Crédit Agricole, Santander Seek to Provide Crypto Custody Under French Registration
25.6.2023
A subsidiary co-owned by Crédit Agricole and Santander has registered as a digital asset service provider in France. The registration of Caceis, a company that specializes in offering financial services to institutional investors, allows the two major European banks to tap into the crypto market....
Institutional Interest Fuels Crypto Rally as Market Adds $110 Billion in 7 Days
23.6.2023
During the past week, crypto assets increased in value by 9.62%, rising from $1.10 trillion to the current $1.21 trillion. Apart from the listed stablecoins, the top 20 crypto assets by market capitalization all experienced gains this week, as $110 billion was injected into the crypto economy....
Binance Launches Regulated Crypto Exchange in Kazakhstan
23.6.2023
Licensed since last year, the world’s largest digital asset exchange, Binance, has now launched a trading platform in Kazakhstan. The move comes amid increased pressure from regulators in other jurisdictions, like the U.S., and after Binance’s decision to pull out of several European markets....
Exploring Crypto Whale Concentration: Unveiling the Rich Lists of the Top 10 Cryptocurrencies
22.6.2023
In the past ten years, a myriad of digital currencies have emerged alongside bitcoin, forming a cryptocurrency ecosystem now worth $1.2 trillion. Within this realm, enigmatic figures known as crypto whales have played a pivotal role in the distribution, trading, and accumulation of coins across...
How to track and report crypto transactions for tax purposes
21.6.2023
Crypto assets are subject to tax and must be tracked and reported to the IRS. This comprehensive tax guide contains everything you need to know
CZ, Binance US Pleased With SEC Deal Despite ‘Unwarranted’ Emergency Relief
19.6.2023
Binance founder Changpeng Zhao (CZ) expressed his satisfaction over the agreement with the U.S. securities regulator preventing the freezing of the exchange’s assets in the United States. The crypto company’s American subsidiary also stated it’s pleased that the SEC’s request for a temporary...
Crypto Conglomerates Should Be Regulated, MiCA 2 Needed, Bank of France Governor Says
19.6.2023
International cooperation is necessary to regulate crypto conglomerates, according to the head of the central bank of France. Speaking at a tech forum in Paris, Governor Villeroy de Galhau also suggested that a new version of the EU’s recently adopted crypto law may be needed to deal with...
Binance Pulls Out of Netherlands, Seeks to Deregister Cyprus Unit
17.6.2023
The world’s largest crypto exchange, Binance, said it’s exiting the Dutch market as it has been unable to obtain registration as a crypto service provider. The news comes after Binance’s entity in Cyprus applied to be removed from the country’s register of digital asset service providers. Binance...
Russia to Trial Digital Asset Settlements in Foreign Trade
17.6.2023
Bank of Russia plans to pilot cross-border payments using digital assets and central bank digital currencies, according to a deputy governor. The top executive believes these alternative instruments could increase efficiency in foreign trade while such settlements will not be permitted inside...
DAI Emerges as Third-Largest Stablecoin, Overtaking BUSD in Market Capitalization
17.6.2023
Makerdao’s DAI stablecoin is now the third-largest stablecoin by market capitalization, surpassing Binance USD (BUSD), which has officially declined to $4.304 billion. DAI’s market valuation on Friday, June 16, 2023, is approximately $4.394 billion, but the number of circulating...
US Judge Considers if Crashed Coins of Terraform Labs Were Securities
16.6.2023
A judge in the United States considered on Thursday whether the cryptocurrencies created by Terraform Labs were securities. The failed blockchain firm and its founder, Do Kwon, have asked the court to dismiss a case filed by the U.S. Securities and Exchange Commission (SEC) alleging that they...