The Brazil Senate has recently passed legislation that will require Brazilian residents to pay up to a 15% tax on income generated from cryptocurrencies held on offshore exchanges. This new taxation rule is set to take effect from January 1, 2024. Details of the New Tax Rule The law, which applies to crypto users with...
Over 130 residents of Hong Kong have fallen prey to a cryptocurrency scam involving the Hounax platform, with total losses amounting to approximately HK$120 million (US$15.4 million). Victims and lawmakers have criticized the Securities and Futures Commission (SFC) for issuing a late warning, as many had already invested in the platform. Details of the Scam...
Cryptocurrency recovery company Unciphered has unearthed a vulnerability in the widely-used JavaScript Bitcoin library, BitcoinJS, posing a risk to the security of private keys in numerous wallets. Discovery of the Vulnerability The flaw, identified during a routine wallet recovery for a client, was traced back to a series of programming errors within the BitcoinJS library....
The Verified USD Foundation has launched a new stablecoin, Verified USD (USDV), which is distinctively backed by tokenized US Treasury Bills (T-bills). This development marks a significant step in the cryptocurrency space, offering a stablecoin that combines the security of T-bills with the efficiency of blockchain technology. USDV: A Blend of Stability and Innovation USDV...
The Open Network Foundation (TON Foundation) has partnered with Blockchain.com to make cryptocurrency more accessible to Telegram’s over 800 million monthly active users. TON Space, the TON-based self-custody cryptocurrency wallet, will be available in the Telegram menu for all users outside the United States starting in November 2023. Users will be able to buy, sell,...
UBS has launched a live pilot of a tokenized version of its Variable Capital Company (VCC) fund, as part of Project Guardian led by Singapore’s central bank. The pilot was conducted using UBS Tokenize and the Ethereum network, allowing for activities such as redemptions and fund subscriptions. This move marks a milestone in understanding fund...
A court based in Hong Kong has acknowledged cryptocurrencies as property that can be held in trust in a ruling involving the defunct crypto exchange Gatecoin. In an analysis of the ruling published by the law firm Hogan Lovells, Judge Linda Chan reportedly said that crypto has property attributes. The court deemed that it was...
The U.S. arm of cryptocurrency exchange Binance said it will remove digital asset tokens TRON and Spell from its trading platform, sending the prices of both down sharply on Wednesday. Binance.US said the move was the result of a periodic review and that factors it regularly considers can include trading volume and liquidity, changes in...
Financial market regulators around the world hardly know what to make of cryptocurrency. This asset class doesn’t fit neatly into existing categories, while the collapse of FTX in 2022 made the need for smarter regulations painfully obvious. National governments want to assert their regulatory oversight of crypto because controlling currencies is how they manage their...
Investing in cryptocurrencies has been gaining popularity over the past few years. And if you’re ready to add digital assets to your portfolio, using a cryptocurrency exchange is one of the easiest and safest ways to get started. But there is a wide variety between the best cryptocurrency exchanges. Some exchanges are great for beginners,...
