Bithumb is the subject of a special tax inquiry by South Korea’s National Tax Service (NTS). The South Korean tax and legal authorities recently took notice of Bithumb, a cryptocurrency exchange. A “special” investigation into the exchange’s business practices has been launched by the tax authorities. The company’s largest shareholder has also been subpoenaed for […]
Ripple’s CEO anticipates a breakthrough
During the 118th Congress, Ripple’s CEO expressed cautious optimism about regulatory clarity for cryptocurrencies. Crypto regulation receives bipartisan support On Jan. 3, Brad Garlinghouse, CEO of financial technology company Ripple Labs, stated that the newest session of Congress will finally streamline crypto regulations. Garlinghouse noted that crypto regulation was supported by both the Democratic and […]
Defrost Finance receives stolen funds, “
Defrost Finance, a decentralized leverage trading platform on Avalanche (AVAX), suffered a flash loan attack on December 23. As a first step, they took roughly $12 million, but the platform claims it received the funds and planned to “refund investors.” Further, Defrost Finance’s team claims a stolen owner key breached its V1 protocol, while others […]
Breaking: RBI Chief Reinstates Crypto Ba
The Indian government and regulatory bodies have expressed skepticism over the use and adoption of private digital assets in the country. Authorities have already suggested that capital gains from cryptocurrency trading in India will be subject to a 30% tax. The governor of the Indian Central Bank has, nevertheless, issued a cautionary statement regarding the […]
Crypto Companies Will Be Treated Like Ba
In its upcoming regulatory framework, the Financial Stability Board plans to treat cryptocurrency companies similarly to banks. In 2023, the FSB, the world’s largest financial watchdog, will publish regulatory guidelines for crypto. In the coming months, the FSB will outline a timeline for global regulators. Their first recommendations on global crypto regulation will be implemented […]
ETH and Ripple are committing securities
Michael Saylor, a Bitcoin bull, is notorious for not caring much about altcoins like Ripple (XRP) and Ethereum (ETH). Saylor discussed the classification of those cryptocurrencies as securities in a recent podcast. As part of his argument that Ripple Labs is unregistered security, Saylor spoke about the legal battle between Ripple Labs and the U.S. […]