The US Department of the Treasury and Internal Revenue Service (IRS) have recently unveiled new proposed regulations that aim to enforce stricter reporting requirements for brokers of digital assets. Designed to crack down on tax cheats and assist law-abiding taxpayers, these regulations have received mixed reactions from both industry insiders and lawmakers. While some argue
In a recent development, a single whale has made a significant XRP transaction by moving a total of 29.3 million tokens to a centralized exchange. While large transactions are not uncommon in the XRP network, the destination of this particular transaction has raised concerns among investors. Traditionally, when tokens are moved to centralized exchanges like
Binance, one of the largest cryptocurrency exchanges in the world, has recently taken a significant step in complying with local and global regulatory standards. According to The Wall Street Journal, Binance has removed several sanctioned Russian banks from its peer-to-peer (P2P) trading service. This move comes as the exchange strives to ensure that all payment
The XRP price is experiencing a minor setback, with a 1% decline in the past 24 hours. However, all eyes are now on XRP20 as it could be on the brink of a major explosion. This anticipation stems from the recent announcement of a 5% burn event scheduled for today. The burn event, if successful,
In a surprising turn of events, Magnate Finance on Base has recently taken its Telegram group offline and completely deleted its website. This sudden disappearance has caused alarm among investors and sparked fears of yet another exit scam in the cryptocurrency market. With $6.4 million in Total Locked Value, Magnate Finance’s decision to erase its
The cryptocurrency industry in East Asia continues to see significant developments and regulatory changes. In this article, we will discuss some of the latest news and trends in the region, including the opening of a new crypto exchange in Hong Kong, the crackdown on private blockchain firms in China, the issuance of a digital yuan
Shiba Inu (SHIB), the token that has gained popularity as a meme token within the Shiba Inu web3 ecosystem, has recently sparked new forecasts suggesting that it could potentially reach $1 per token within the next 5-10 years. This bold prediction, proposed by ChatGPT, indicates that such a milestone would result in staggering gains of
Binance, one of the largest cryptocurrency exchanges in the world, has reportedly renamed sanctioned Russian banks on its peer-to-peer (P2P) platform to allow them to continue operations. According to local media RBC-Crypto, Binance changed the bank cards for Sber and Tinkoff to “green” and “yellow” local cards on its payment options for P2P trading. This
U.K. regulators are cracking down on cold calls for consumer financial services as part of the country’s efforts to curb fraudulent activities. This is a significant development that will undoubtedly impact various industries, including the crypto sector. The U.K. Treasury Fraud Strategy, introduced in May, aims to protect consumers from scams and manipulation. The government
In the past few days, Solana’s native token, SOL, has experienced significant losses due to the overall downtrend in the cryptocurrency market. However, there is some positive news for SOL holders as the token’s price has shown signs of recovery. After several days of posting vivid red candlesticks, SOL finally saw the formation of a