NewsRoom Articles - Page 31 of 184

FridayJul 05, 2024 9:00 am

New IRS Rule Against Tax Evasion Requires Crypto Companies to Reveal Trade Information

The U.S. Treasury Department has announced a new requirement for most crypto brokers to report user transaction proceeds to the Internal Revenue Service (IRS) starting in two years. The measure, aimed at preventing tax evasion in the cryptocurrency market, was revealed through an IRS statement on June 28, 2024. Beginning in 2026, payment processors and crypto exchanges, including platforms such as Coinbase, will be mandated to share information on user trades and sales with the IRS. This includes, in certain cases, stablecoins such as Circle’s USDC and Ether (USDT), as well as high-value NFTs. However, the IRS remains undecided on…

WednesdayJul 03, 2024 9:00 am

FBI Alerts Public About Phony Entities Promising to Redeem Lost Crypto

The FBI recently released a warning about a new tactic that scammers are using to further deceive victims of crypto fraud. According to the agency, these fraudsters are pretending to be lawyers from nonexistent law companies. They contact victims through messaging apps and social media, offering services to help recover their lost funds, with the real aim of swindling more funds or personal information from them. According to the FBI’s warning, the con artists frequently assert that they are approved by the Consumer Financial Protection Bureau (CFPB), the FBI or other governmental organizations. Victims find these fake lawyers through fraudulent…

MondayJul 01, 2024 9:00 am

EU Bans Cryptocurrency Providers Working with Defense-Industrial Complex in Russia

European legislators have approved a 14th set of sanctions aimed at key sectors within the Russian economy, such as trade, finance and energy. These sanctions are intended to make it significantly harder to bypass existing European Union (EU) restrictions. In a press release dated June 24, 2024, the EU Council announced that the recent package includes restrictive measures against an additional 116 individuals and entities allegedly responsible for activities that compromise or jeopardize the independence, sovereignty and territorial integrity of Ukraine. According to a Reuters report, with this latest addition, the sanctions list now encompasses more than 2,200 entities. To…

FridayJun 28, 2024 9:00 am

Winklevoss Twins Give Trump Campaign $2M for His Crypto-Friendly Stance

Prominent crypto figures, the Winklevoss twins, have each donated $1 million in Bitcoin to Donald Trump’s presidential campaign. They have pledged their support for Trump in the upcoming November election, citing their belief that the Biden administration is hostile toward cryptocurrency. Cameron Winklevoss expressed his support on X, praising Donald Trump as a probusiness, procrypto, and pro-Bitcoin candidate who would put an end to the Biden administration’s crackdown on cryptocurrency. Additionally, Tyler Winklevoss shared a long critique of President Joe Biden’s crypto policies and regulations. “We need to take back our nation,” he declared. “Washington needs to hear from the…

ThursdayJun 27, 2024 7:54 pm

Proof of Talk Conference Showcases Web3’s Bright Future in Traditional Finance

Paris, June 27, 2024 — Proof of Talk, the conference heralded as the Davos of Web3, has confirmed its status as the pre-eminent event where leaders from decentralized and traditional finance unite to discuss how to shape Web3’s future. Held at the iconic Museum of Decorative Arts in the Louvre Palace in Paris, the sold-out two-day conference brought together over 2500 ecosystem players on 10-11 June. These included executives and leaders from Franklin Templeton, MultiversX, Flow Traders, KKR, Polkadot, Solana Foundation, Galaxy Digital, Rhuna, Softbank Vision Fund, Layerzero, and Pantera. The summit took on all aspects of Web3, from fashion and lifestyle to…

WednesdayJun 26, 2024 9:00 am

StanChart to Open BTC, ETH Trading Desk

StanChart is set to launch a spot crypto trading platform for Ethereum and Bitcoin, according to sources cited by Bloomberg. The multinational financial institution intends to launch a spot crypto trading desk that will oversee Ethereum (ETH) and Bitcoin (BTC) transactions. The move is anticipated to serve the growing number of institutional clients that are interested in Ether and Bitcoin, and will function under the bank’s foreign exchange (FX) unit. StanChart mentioned in an email to Bloomberg that it has been collaborating closely with regulators to meet the demands of institutional clients for trading Ethereum and Bitcoin. The action aligns…

MondayJun 24, 2024 9:00 am

Consensys Reveals SEC Ending Investigation of Ether

The U.S. Securities and Exchange Commission (SEC) is ending its investigation into whether Ether should be classified as a security. On June 19, 2024, Ether developer ConsenSys shared on social media that the commission’s Enforcement Division has closed its probe into Ether 2.0. This decision implies that the commission will not pursue any legal actions that would categorize Ether transactions as securities deals. ConsenSys celebrated this development as a significant victory for the Ethereum community, including technology providers, developersand other stakeholders. The decision from the SEC follows a letter sent by ConsenSys on June 7, requesting closure of the investigation.…

FridayJun 21, 2024 9:00 am

Speculation Is Rife Regarding Possibility of a “Trump Coin”

There is speculation among crypto enthusiasts that Donald Trump is aiming to win over the $2.5 trillion industry with a new digital token dubbed “Trump Coin” as he steps up his campaign for the upcoming November election. Industry analysts are investigating the origins of a meme token listed on the Solana blockchain under the symbol “DJT” and named “Trump Coin.” DJT is associated with Trump’s social media platform, Truth Social, a stock market favorite since its IPO in March, reaching highs of $79.38 per share and now trading around $35. Meme tokens, as with meme stocks, are influenced by internet…

MondayJun 17, 2024 9:00 am

Lykke Confirms Platform Was Breached, $22M in Crypto Assets Stolen

Crypto exchange Lykke announced on June 10, 2024,that it had experienced a security breach, leading to the theft of digital assets worth $22 million. Lykke assured its users that despite the breach, their funds were safe, and the compromised systems were immediately shut down to prevent further damage. The UK-based exchange disclosed that the attack took place on June 4. It emphasized that client funds were secure and that efforts were underway to recover the stolen assets. Lykke communicated via the social media platform X, explaining that it had shut down the affected systems to minimize the damage and was…

MondayJun 17, 2024 6:41 am

WEEX Partners with K9 Finance DAO to Launch Premium Projects on Shibarium Blockchain

WEEX, a leading cryptocurrency exchange platform, has announced a strategic partnership with K9 Finance DAO to launch projects on Shibarium, an Ethereum Layer 2 blockchain. WEEX selects premium projects from the thousands available on the Shibarium chain for its Launchpad and will list them on WEEX, supporting the Shiba Inu (SHIB) community. Shiba Inu development advocates have identified WEEX as the primary platform for all new qualified projects emerging from Shibarium hackathons and developer communities worldwide. Additionally, Andrew Weiner, VP of WEEX Global, will attend the Blockchain Futurist Conference, sponsored by Shiba Inu and K9 Finance DAO, in Toronto on…