Indian cryptocurrency exchange CoinDCX is facing criticism on social media due to restrictions on crypto withdrawals. Many users have reported issues such as failed INR withdrawals and delays in resolving their support tickets, with some claiming their withdrawal requests have been pending for weeks. This has led to growing frustration among users. The confusion surrounding …
Back in August, Ripple was fined $125 million, and it seemed like the lawsuit was over. However, the SEC has continued to appeal the decision. In October, the SEC officially appealed the previous ruling on XRP. The SEC was not satisfied with the judge’s decision and took it to the appeals court. Now, Paul Atkins …
In a Thinking Crypto podcast, Amanda Tuminelli, Chief Legal Officer at the Defi Education Fund, has discussed the IRS and treasury’s recent rulemaking on digital asset transactions. The IRS finalized a tax reporting rule for defi industry participants on December 27th, which they argue is too broad to be considered a broker under the statutory …
The IRS has introduced temporary tax relief for cryptocurrency holders using centralized exchanges, aiming to ease the transition to stricter tax regulations coming in 2025. This move will give more flexibility, potentially saving taxpayers from paying higher tax bills. The change of heart could be the changing political scenario to make crypto less complicated for …
Singapore is quickly emerging as Asia’s top destination for cryptocurrency, with a clear strategy to attract global companies and innovate in blockchain technology. The Monetary Authority of Singapore (MAS) has already licensed over 200 payment institutions, including major players like Okx, Upbit, and Bitgo, under the Payment Services Act (PS Act). But what makes Singapore’s …
Garanti BBVA, part of Spain’s Banco Bilbao Vizcaya Argentaria (BBVA), will soon offer crypto trading services to the public through its platform, Garanti BBVA Kripto. This move follows the full implementation of the Markets in Crypto-Assets (MiCA) regulation in the EU. The platform will use Bit2Me, a Spanish crypto exchange, for trading execution. As MiCA …
Singapore’s crypto-friendly regulations and doubling of licenses in 2024 position it as a growing hub for blockchain innovation.
A major legal battle between Gemini Trust and the U.S. Commodity Futures Trading Commission (CFTC) has hit a pause. In a recent court decision, Judge Alvin Hellerstein postponed the civil case, pushing back the hearing date from January 13 to January 21, 2025. According to a court document from December 30, 2024, the final pre-trial …
The cryptocurrency market had an extraordinary year in 2024. Bitcoin (BTC) led the charge, propelling the industry to nearly $4 trillion in valuation before a market correction. Earlier in the year, Bitcoin hit the long-awaited $100,000 milestone, eventually settling at about $92,700 in the final hours of the year during the mid-London session. Bitcoin’s price …
Crypto payment platform MoonPay has obtained a MiCA license from the Dutch Authority for the Financial Markets, enabling it to offer fiat-to-crypto and crypto-to-fiat services across Europe. The MiCA regulation, effective today, establishes a unified framework for digital assets in the European Economic Area, focusing on consumer protection and market stability. MoonPay, operating in over …
Malaysia’s Securities Commission (SC) has directed Bybit Technology Ltd, formerly Bybit Fintech Ltd, to cease operations in the country for violating securities laws. Bybit and its CEO, Ben Zhou, were reprimanded for running an unregistered exchange. The SC instructed Bybit to disable its website, halt promotional activities, and terminate its Telegram support group for Malaysian …
The most anticipated question of who could be the next SEC Chair finally came to an end when President-elect Donald Trump officially nominated Paul Atkins as the next SEC Chair. But there are still some questions on investors’ minds as to how Atkin will address the ongoing crypto cases. Paul Atkins is a former SEC …
Tether’s USDT the largest stablecoin by market cap, is set to be delisted from EU exchanges starting today, creating a situation of fear, uncertainty, and doubt (FUD) in the crypto market. However, crypto analyst Axel Bitblaze believes this might not lead to a market crash but instead could be another buying opportunity, similar to past …
Malaysia’s Securities Commission (SC) has ordered Bybit and its CEO, Ben Zhou, to suspend operations for running without proper registration. Bybit must shut down its platforms, halt advertising, and dissolve its Malaysian Telegram support group by December 25. The SC cited investor protection concerns, reminding users that unregistered platforms pose higher risks. Bybit has complied …
Republicans currently have a narrow majority in the United States House of Representatives, where the party holds 219 seats.
A South Korean court has sentenced a celebrity golfer and the former CEO of Bithumb, a major crypto exchange, to prison for their roles in a bribery and market manipulation scheme. Lee Sang-jun, the former CEO of Bithumb, was sentenced to two years in prison, while Ahn Sung-hyun, a well-known golfer married to actress Song …
Recently, the U.S. Internal Revenue Service (IRS) has announced new regulations that classify certain decentralized finance (DeFi) protocols as brokers. This move requires these protocols to disclose Know Your Customer (KYC) information for digital asset transactions. The IRS estimates that up to 875 DeFi brokers could be affected by these new rules, which has quickly …
The U.S. Internal Revenue Service (IRS) has introduced a new tax rule that will affect decentralized finance (DeFi) brokers. Starting in 2027, DeFi platforms will have to collect user trading information, issue tax forms, and provide customer details like names and addresses. This rule is meant to make digital asset taxes similar to traditional ones. …
U.S. Congressman Ro Khanna has introduced a bill to ban stock trading by Congress members and their spouses, aiming to “clean up corruption in Washington.” Khanna’s proposal includes prohibiting PAC and lobbyist donations, instituting term limits, and adopting ethics codes for justices. The move follows President Joe Biden’s recent support for a similar ban, citing …
In the latest development, The National Bank of Cambodia has approved compliant stablecoin services but bans unbacked assets like BTC. The Central Bank of Cambodia now allows commercial banks and payment institutions to provide services involving Category 1 cryptocurrencies, i.e., backed or stable cryptocurrencies. However, unbacked cryptocurrencies, such as Bitcoin, remain prohibited. The development was …
While the EU’s cryptocurrency regulations are poised to take full effect in just a few days, there’s still significant uncertainty about Tether’s USDt stablecoin. Uncertainty Over Tether’s MiCA Compliance Recently, crypto exchange Coinbase delisted Tether’s USDT in mid-December citing compliance with the EU’s MiCA regulations. Even after Coinbase delisted USDT, the stablecoin has continued trading …
The world is talking about the potential impact of Donald Trump’s presidency on Bitcoin’s growth, with various analysts sharing their perspectives on how his policies could drive the cryptocurrency market forward. One key analyst highlights that Trump’s administration could significantly boost Bitcoin’s price by pushing for the tokenization of traditional assets, such as stocks from …
With the incoming pro-crypto administration under Trump, the U.S. Congress is expected to prioritize crypto legislation in 2025, focusing on key issues like stablecoins and the FIT21 Act. Notably, in 2025, several cryptocurrency bills could potentially be passed in the United States – Financial Innovation and Technology for the 21st Century Act (FIT21): This bill …
As 2024 draws to a close, one of the most closely followed legal battles in the cryptocurrency world has continued to keep everyone on the edge, leaving a mark on Ripple Labs and the entire crypto industry. The SEC’s lawsuit against Ripple, alleging that the cryptocurrency XRP is an unregistered security, has been a long …
Crypto suffered a lot due to regulatory overreach in the US while the scene changed after Trump’s win. The crypto industry has gone up since then to $1 Trillion. The recent US elections have brought unexpected financial showdowns for prominent crypto leaders and firms. Coinbase CEO Brian Armstrong, Ripple CEO Brad Garlinghouse, and Andreessen Horowitz …
Russia has begun using Bitcoin and other cryptocurrencies for international trade following legislative changes to counter Western sanctions, Finance Minister Anton Siluanov revealed. These measures include legalizing cryptocurrency mining and transactions in foreign exchange, positioning Russia as a global Bitcoin mining leader. Siluanov emphasized that such digital payments represent the future and are already in …
Russia is shaking things up. Faced with mounting sanctions and struggling trade routes, the country is turning to Bitcoin and other digital currencies. This move isn’t just about innovation—it’s survival. With sanctions squeezing traditional payment systems, Russia wants to keep trade alive, no matter what. What’s the Bitcoin Plan? In July, Russia passed a major …
China’s strict ban on cryptocurrencies has pushed many crypto traders to find safer markets. This has worked in Singapore’s favor, as the city has become a top destination for crypto companies. Unlike Hong Kong, which has slow approval processes and stricter rules, Singapore offers a more crypto-friendly environment for digital assets. Singapore Outpaces Hong Kong …
Argentina’s justice system has ordered Tether to freeze over $3.5 million in USDT linked to Rainbowex, a suspected pyramid scheme under investigation. The freeze follows a large-scale operation that involved 22 search warrants and the detention of 10 individuals. Rainbowex, which misled investors with promises of high rewards through crypto transactions, was found to operate …
From 2023 to June 2024, the UAE experienced a huge $34 billion surge in cryptocurrency investments, a 42% increase from the year before. Bitcoin remains a major player, making up 19% of the market, while stablecoins like Tether dominate with 51%. As of now, UAE has boosted $40 billion in Bitcoin holdings which shows its …