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Spot Bitcoin ETF inflows could dwarf all 150 crypto ETPs today

• by admin
• December 26, 2023

Newly compiled data from BitMEX Research estimates there are 150 crypto ETPs available today, with $50.3 billion in assets under management. United States-approved spot Bitcoin exchange-traded funds (ETFs) could end up dwarfing the entire $50 billion crypto-related ETF market today.  According to new data from BitMEX research, the current global market for crypto exchange-traded products […]

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Japan scraps corporate tax on unrealized crypto profits: Report

• by admin
• December 25, 2023

Domestic firms were previously required to pay tax on paper gains from their cryptocurrency holdings but now only need to do so when they sell the asset. Japanese firms will reportedly no longer be required to pay tax on “unrealized gains” from cryptocurrency holdings as of April next year after the Cabinet reportedly approved a […]

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Crypto Biz: Solana Saga mania, Tether brings the FBI on board, and more

• by admin
• December 24, 2023

The crypto industry experienced a significant number of security incidents in 2023 but is exploring new approaches to fight back against attackers and protect firms’ public images. The crypto industry has experienced a significant number of security incidents in 2023, though overall losses declined from the previous year. A report by TRM Labs estimates that […]

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UK Economic Secretary will discuss crypto firms’ access to banks

• by admin
• December 20, 2023

Bim Afolami, who became U.K. Economic Secretary in November, will be available to speak to the Crypto and Digital Assets All-Party Parliamentary Group. Jeremy Hunt, who serves as chancellor of the exchequer for the United Kingdom, said Economic Secretary Bim Afolami would be “more than happy to meet” and discuss issues related to digital assets […]

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Ripple, Coinbase, a16z invest $78M in pro-crypto PAC ahead of US elections

• by admin
• December 20, 2023

Prominent cryptocurrency companies and investors intend to support pro-cryptocurrency candidates during the 2024 U.S. election cycle. Ripple CEO Brad Garlinghouse has publicly announced the company’s intent to support “pro-crypto” candidates during the 2024 United States election season. The company is among a group to have pledged a total of $78 million to support the Fairshake […]

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Aurory’s USDC pool drained on Arbitrum’s DEX Camelot

• by admin
• December 20, 2023

According to initial reports and on-chain data, the attack targeted Aurory’s SyncSpace bridge, draining nearly 80% of the AURY-USDC pool’s liquidity. Solana-based gaming ecosystem Aurory was reportedly breached on Dec. 17, resulting in a drop of nearly 80% in liquidity of the AURY-USDC pool on the decentralized exchange (DEX) Carmelot. According to unconfirmed reports on […]

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IRS team reports rise in crypto tax investigations

• by admin
• December 18, 2023

According to the fiscal year 2023 report, the IRS unit investigated failures to disclose crypto holdings and report on capital gains for transactions. The Criminal Investigation (CI) Unit of the United States Internal Revenue Service (IRS) reported an increase in the number of investigations around digital asset reporting. In its annual report released on Dec. […]

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Brazil signs overseas crypto tax bill into law

• by admin
• December 18, 2023

Under the new rules, Brazilian citizens will pay the state up to 15% of their crypto profits. The President of Brazil, Luis Inácio Lula da Silva, has signed a law introducing taxes on crypto assets held abroad by Brazilian citizens.  Lula signed the law on Dec. 12, which was then published the following day in the Diário […]

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24 random words aren’t enough to keep your crypto safe — here’s why

• by admin
• December 14, 2023

From Legacy Transfer to and advanced Web3 Firewall, this self-custodial wallet makes crypto ownership more convenient and secure. The multichain self-custodial Zengo Wallet addresses the inherent vulnerabilities of seed phrases by employing multiparty computation cryptography as a more secure alternative. Over the years, numerous news reports have detailed how people have lost their life savings […]

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Singapore to restrict retail crypto speculation with new rules

• by admin
• December 12, 2023

According to MAS, speculative cryptocurrency trading is partly fueled by unverified success stories, celebrity endorsements and FOMO on good returns. In response to the feedback received on its proposed Digital Payment Token (DPT) regulations, the Monetary Authority of Singapore (MAS) laid down measures for DPT service providers to discourage speculation in cryptocurrency investments. The de […]