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Hard Fork Bitcoin Cash Is Taxable Income – IRS
According to a memorandum released by the US Internal Revenue Service, Bitcoin cash (BCH) received. After the Bitcoin (BTC) hard fork in 2017 is taxable gross income (IRS). According to Law360.com, the IRS claims that the document, dated March 22, cannot be used as precedent because it was written in response to a request for […]
Japanese regulator issued warning to teenagers who will soon be able to buy crypto
After new legislation is set to effectively lower the crypto age of consent to 18, Japan’s top financial regulator. The Financial Services Agency (FSA), has issued a warning to younger citizens about the potential risks associated with crypto investment. In 2018, the Japanese Diet approved a legal amendment to the country’s Civil Code that lowers […]
Sumitomo Mitsui, a Japanese bank, has launched the country’s first ‘a-1’ rated security token
Sumitomo Mitsui Trust Bank, or SMTB, a Japanese bank, launched its first asset-backed securities token on March 29 in collaboration with Securitize. The instrument is the first security token to enter the Japanese market that complies with the Financial Instruments. And Exchange Act (FIEA). In addition, Rating and Investment Information, Inc, a Japanese rating agency. […]
Russia intends to use the digital ruble to power its USD Purge
The politician in charge of drafting Russia’s crypto regulation legislation. And formulating the country’s financial policy has spoken out about the need to eliminate the US dollar from the economy. Referring to the upcoming digital ruble as a “higher form of money.” Anatoly Aksakov, the Chairman of the Parliamentary Committee on Financial Markets. And also […]
In the midst of a legal battle in the US, Ripple is looking to merge with an Asian company
Ripple, a major blockchain company based in the United States. That is still embroil in a legal battle with American regulators. Has agreed to buy a 40% stake in Tranglo, an Asian cross-border payments specialist. TNG Fintech Group will remain the majority shareholder in Tranglo after the transaction closes this year, according to Ripple, who […]
Governor says, Nigeria’s central bank is not discouraging people from trading crypto
Nigeria’s central bank governor, Godwin Emefiele, has reportedly clarified the bank’s position on the use of cryptocurrencies in the country. Which had previously prohibited banks from servicing crypto exchanges. According to local news outlet TodayNG, CBN deputy governor Adamu Lamtek said on behalf of Emefiele. That the bank had not banned Nigerian residents from buying, […]
Over the last 12 months, Bitcoin mining stocks have outperformed BTC by 455 percent
Despite the fact that the top publicly traded Bitcoin mining companies are losing money, their stock prices have outperformed BTC over the last year. Leeor Shimron, Fundstrat’s vice president of digital asset strategy, spoke on CNBC about his research into the market performance of the four largest publicly traded mining companies — Marathon Digital Holdings, […]
In New York a BitMEX executive surrenders, pleads not guilty
Ben Delo, a co-founder and co-owner of BitMEX, the troubled crypto derivatives exchange, has surrendered to US authorities in New York. Delo arraigned remotely before US Magistrate Judge Sarah L. Cave during a proceeding on March 15, according to Bloomberg. He entered a not guilty plea to all charges and released on a $20 million […]
In China, crypto and digital yuan fraudsters are causing havoc
As bitcoin (BTC) prices rise and the rollout of the Chinese central bank digital currency (CBDC) approaches, Chinese media outlets are reporting a sharp increase in bogus crypto, blockchain, and digital yuan-related schemes in the country. According to reports from JRJ and the National Business Daily, unsuspecting investors are putting up as much as USD […]
Following an independent review, the Celsius Network valued at $3.1 billion
According to new research from Alpha Sigma Capital, crypto lending platform Celsius Network is worth three times its current market capitalization, indicating the project’s massive growth potential over the next five years. Alpha Sigma Capital calculated that the crypto company has an implied value of $3.13 billion based on 2020 financials obtained from Celsius. Which […]