Category: crypto assets

UK Treasury Budget Discusses Separate Reporting of Crypto Assets in Tax Documents

Taxpayers in the United Kingdom will have to report cryptocurrency assets separately in their tax documents for the tax year 2024-25, according to the Exchequer’s recently published spring 2023 budget.…

Openai’s GPT-4 Launch Sparks Surge in AI-Centric Crypto Assets

Following Openai’s release of GPT-4, a deep learning and artificial intelligence product, crypto assets focused on AI have spiked in value. The AGIX token of the Singularitynet project has risen…

Meta Winding Down Support for NFTs on Facebook, Instagram

U.S. tech giant Meta is giving up on operations with non-fungible tokens (NFTs) amid ongoing turbulence in the crypto space. The company allowed creators to share digital collectibles on its…

Revised Bill Suggests Prison Time for Russian Crypto Miners Evading Taxation

A draft law designed to regulate crypto mining in Russia introduces harsh penalties for miners failing to report digital assets to the state. In its latest revision, the bill also…

Kazakhstan Shuts Down Crypto Exchange That Transferred $34 Million Through Binance

Authorities in Kazakhstan have busted an illegal crypto trading platform, seizing over $350,000. The exchange allegedly processed almost $34 million in transactions through wallets on Binance, two of which have…

Binance Bans Russians From P2P Transactions With Dollars and Euros

Cryptocurrency exchange Binance has introduced new restrictions for Russian users, in accordance with the latest European sanctions. The platform is restricting access to peer-to-peer (P2P) transactions in U.S. dollars and…

New York Attorney General Files Lawsuit Against Kucoin and Declares Ethereum a Security

On March 9, 2023, New York attorney general Letitia James announced that her office had once again cracked down on crypto platforms by filing a lawsuit against the Seychelles-based crypto…

BIS Releases Report On ‘Project Icebreaker’ — Develops Cross-Border Retail CBDC Payment Model

The Bank for International Settlements (BIS) has released a report summarizing the “Project Icebreaker” trial, which explored the potential advantages and difficulties of utilizing a retail central bank digital currency…

Redemption and Reshuffling: BUSD’s Exit From Top 10 Cryptocurrencies Shakes Market Valuations

It has been 21 days since Paxos revealed that it would no longer mint the stablecoin BUSD. Since then, over 7 billion BUSD stablecoins have been redeemed. Prior to the…