Bitcoin

The tax department of the Seoul metropolitan government in South Korea has reportedly seized cryptocurrencies worth about $25 million from hundreds of crypto investors with delinquent taxes. The cryptocurrencies, including bitcoin, were seized from three exchanges. The tax authority is now going after hundreds more taxpayers who are delinquent on paying their taxes. Crypto Seizure

South Korea’s crypto-sphere has been witnessing a volatile environment in terms of regulatory moves, as bitcoin prices and other altcoins are also having wild moves. Such a scenario hasn’t stopped the country’s middle class to profit from the crypto market, even with very successful stories. One of the Interviewees Risked His Life Savings in Cryptos

The Biden administration has revealed plans to raise taxes on investors who are millionaires according to a flurry of recent reports. President Joe Biden wants to overhaul the U.S. economy in order to help fund American childcare and education. Biden’s proposal will almost double the current capital gains tax rate from 20% to 39.6%, and

Nigerians are thought to be accumulating foreign currencies which they believe will protect their wealth from the naira’s volatility as well as the surging inflation. Further, as a research paper in a journal published by the Central Bank of Nigeria (CBN) found, Nigerians’ use of dollars exceeds IMF’s 30% threshold. Exchange Rate Volatility and Currency

The bitcoin vs. gold debate between gold financier Frank Giustra and the pro-bitcoin Microstrategy CEO Michael Saylor took place this week. In what viewers call an “epic” debate and a “historic” event, Saylor packed his arguments full of facts to convince Giustra to sell his gold and invest in bitcoin. Giustra, however, attacked how Saylor

The U.S. Securities and Exchange Commission (SEC) has asked the judge in the SEC v. Ripple case to block Ripple and its executives from accessing various internal records it claims are unrelated to determining whether XRP is a security. The SEC says that the “defendants do not actually seek relevant evidence, but rather seek to

sponsored TrustSwap — a DeFi project offering a wide range of different services — recently announced the launch of a new program that was created to provide an incentive for smaller stakers. The program, known as the FlashDrop program, will essentially reward up to 3,000 users that have staked a certain amount of SWAP tokens.

Guggenheim CIO Scott Minerd has warned of a “major correction” in bitcoin in the near term. Claiming that bitcoin is “very frothy,” he is forecasting a 50% decline in the price of the cryptocurrency. Scott Minerd’s Latest Warning About Bitcoin The chief investment officer (CIO) of Guggenheim Partners, Scott Minerd, is back with another bearish

The cryptocurrency proposed by social media giant Facebook is gearing up to launch using a “phased approach,” its co-creator explains. The Diem Association, which oversees the crypto’s development, has been in talks with regulators to obtain a license. Diem Updates Launch Plan The Facebook-backed cryptocurrency “diem,” formerly called libra, is taking a “phased approach” to

Fresh reports from South Africa suggest another local company, Sygnia, is set to apply to the Johannesburg Stock Exchange (JSE) to list a new cryptocurrency exchange-traded fund (ETF). This application will be the second time Sygnia has attempted to list the crypto ETF. A similar application in 2017 was rejected by JSE on grounds that

The fallout sparked by reports that the Central Bank of Nigeria (CBN) printed over $150 million for states’ funding continued a few days after the allegations were initially made. In the latest twist, the opposition People’s Democratic Party (PDP) vice-chairman Dan Orbih said the CBN governor Godwin Emefiele’s response to the allegations is “politically motivated.”

Just recently, Shapeshift founder and CEO Erik Voorhees published a blog post about a new project called Thorchain, a protocol that allows for decentralized exchanges without wrapping or bridging technology commonly used today. Thorchain launched on April 13, 2021, and the Shapeshift founder recently revealed his company is first to leverage the multi-chain protocol in

The Ukrainian parliament is enforcing its tough stance against people who don’t disclose their cryptocurrency holdings on the tax fillings. The measure comes in the wake of a recent publication that showed alleged mistakes in declarations from public servants. Offenders Could Spend up to Two Years in Jail According to an official document released by

Major investment bank Morgan Stanley believes that central bank digital currencies are not a threat to the existence of cryptocurrencies. The bank believes that both types of digital currencies can coexist because they serve different purposes and have different appeals. Cryptocurrencies and CBDCs Can Coexist Morgan Stanley’s analysts, including chief economist Chetan Ahya, discussed the

This past weekend, Cryptocurrency coins experienced a downfall in prices after hitting all-time highs in the last couple of weeks. The market tanked early on Sunday morning, with Bitcoin taking the most extreme hit as it dropped $10K within a few hours. Dogecoin was the least affected crypto on the market, in comparison to others.

Her Majesty’s Treasury and the Bank of England have revealed the establishment of a central bank digital currency (CBDC) taskforce. According to the announcement, the group’s purpose aims to explore a potential UK CBDC. UK Entities Invoke a CBDC Taskforce to Explore a Central Bank-Issued Digital Currency Central bank digital currencies (CBDCs) have been popping

While Americans are still getting their third stimulus payments, discussions of tacking on a fourth round of direct payments to Joe Biden’s trillion-dollar infrastructure proposal have started trending. Just recently, a coalition led by Senate Finance Chair Ron Wyden and over a dozen Democratic leaders wrote a letter to President Biden asking to get “much-needed

The most recent Bank of America Fund Manager Survey shows that about three out of four professional investors think that bitcoin is a bubble. The fund managers also rated bitcoin second on the list of the most crowded trades. Recently, investment bank JPMorgan also warned that cryptocurrency as a sector is in a bubble. Bank

Rumors concerning the U.S. Treasury cracking down on several financial institutions over money laundering has been spreading like wildfire on social media and forums. There’s been no formal announcement from the U.S. entity and at this stage, the news is widely considered FUD. However, some are assuming the hearsay stems from the recent Russian sanctions

The world’s largest provider of cryptocurrency payment services, Bitpay has announced the company is joining the Square-founded crypto patent effort the Crypto Open Patent Alliance (COPA). Bitpay has been working with blockchain products since 2011 and the firm will share open-source projects and use a shared patent library with the crypto patent organization. Bitpay Joins

Famed Silicon Valley “super angel” investor Ron Conway sees the crypto economy as the next multitrillion-dollar opportunity in innovation. The Silicon Valley legend likens Coinbase to Google after the company’s IPO via a direct listing on Nasdaq. Crypto Is the Next Multitrillion Dollar Opportunity in Innovation Legendary investor Ron Conway, who is often described as

The Texas-based Blockcap Incorporated revealed the blockchain and mining firm has mined approximately 544 bitcoins during the first quarter of 2021. Blockcap says the $33 million worth of bitcoin stems from the firm’s fleet of 12,176 mining rigs. Blockcap Rakes in 544 Bitcoins During the last three months, bitcoin (BTC) markets have seen phenomenal gains

Brazil’s first crypto ETF debut is postponed, but not because plans have failed whatsoever. The Bank of Brazil (Banco do Brasil) is now joining the bandwagon of ETF issuances, following the same steps as Bank Itaú and BTG Pactual did. New Launch Date Set for April 26 According to a letter sent by Hashdex to

Nigeria’s Securities and Exchange Commission (SEC) has revealed that talks with the Central Bank of Nigeria (CBN) regarding the regulation of cryptocurrencies are ongoing. The securities regulator also reiterated that due to a CBN directive that was issued on February 7, 2021, the crypto guidelines it issued in September 2020 remain suspended. Crypto Guidelines Set

The Central bank of the Republic of Turkey has issued a cryptocurrency regulation prohibiting the use of cryptocurrencies for payments of goods and services. From the end of this month, crypto assets cannot be used directly or indirectly as a means of payment in the country and no service can be provided for this purpose.

Earle Loxton, the cofounder of EC10 (formerly DCX Capital) the institution behind the South African crypto index fund, says plans are afoot to launch the country’s first exchange-traded fund (ETF). The ETF is expected to offer South African institutional investors an indirect way of getting exposure to bitcoin. According to Loxton, an application for this

The CEO of Blackrock, the world’s largest asset manager, says that he is fascinated by cryptocurrency, believing that it could become a “great asset class.” However, he said that Blackrock has not received many inquiries from its institutional clients about having bitcoin in their portfolios. Blackrock’s CEO ‘Fascinated’ About Crypto Following Coinbase’s IPO via a

The French multinational insurance firm AXA is now allowing clients in Switzerland to pay for services in bitcoin. The newly added support is part of the company’s “digital future” and stems from customer demand for crypto payments. AXA Supports Bitcoin Payments In Switzerland AXA has announced it is the first all-lines insurer in the country

With a population of over 200 million, Nigeria is widely regarded as one the biggest crypto markets in the world. Some in the crypto world believe Nigeria is one of the few countries better placed to see a greater acceptance of digital currencies. However, despite this optimism, the Nigerian crypto industry continues to be plagued

With Bitcoin prices skyrocketing, the crypto market is seeing an uptick in the finance sector bigger than ever before. Despite that, the reoccurring argument remains: “nobody uses the top cryptocurrency for actual transactions.” Although this claim has existed for a long time, there has been a shift in daily transaction volume, and it is nearing