Mike Novogratz. Source: a video screenshot, Youtube, ConsenSysMedia The current macroecomic backdrop, as well as the frenzy surrounding decentralized finance (DeFi), has proven just how “powerful” bitcoin (BTC) is as a store of value, according to Mike Novogratz, founder and CEO of Galaxy Digital. However, he also warned that the DeFi frenzy is starting to…
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Police in South Korea are reportedly searching the headquarters of Bithumb, the nation’s biggest crypto exchange per trading volume as part of an investigation into fraud and embezzlement. Per Newsis and Seoul Shinmun, officers from the Seoul Metropolitan Police Agency’s Intelligence Unit raided Bithumb’s central offices in the Gangnam District of Seoul on the morning…
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There has been mixed news from the courtroom for one of South Korea’s biggest crypto exchanges – with Bithumb found partially liable for a data leak that led to a customer losing just over USD 27,200 back in 2017. However, the trading platform was absolved of blame in two separate and much larger claims. Per…
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Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. Regulation news Japan’s top financial regulator, the Financial Services Agency (FSA), has spoken about possible forthcoming regulatory changes for the crypto and blockchain industry in the second half of FY2020, Read more »Pay,…
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Source: Adobe/Алексей Струйский Bitcoin (BTC) has begun to flow out of the accounts that United States prosecutors said belong to North Korean hackers – but an observer in the South said that attempts to follow the money could result in disaster for firms, government bodies and financial services providers. Per blockchain tracker Whale Alert, BTC…
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Cryptocurrency is “a substitute for real currency,” and any “convertible virtual currency received is taxable as ordinary income,” a recently published memo from the US Internal Revenue Service (IRS) has declared. The new clarification by the IRS was made in response to a request for clarification from the US tax collector’s own Small Business/Self Employed…
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The South African Revenue Service (SARS) could bring in stricter taxes for the country’s cryptoasset holders in the near future, potentially hampering the development of an industry that has emerged as Africa’s biggest, analysts claim. Wiehann Olivier, a partner in the auditing division of international accounting and tax consultancy Mazars’ South African branch, Read more…
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After a couple of failures, bitcoin managed to surpass the USD 11,500 and USD 11,550 resistance levels. BTC even climbed above USD 11,700 and it is currently (08:30 UTC) consolidating above USD 11,600. The next major resistance for the bulls could be near USD 12,000. Similarly, most major altcoins are showing positive signs and recovering…
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An internet-driven economy held together by bitcoin (BTC) is on its way, with a “BTC-based economic system” to surface “in the next 20 to 30 years with almost no doubt,“ says an industry insider. The claims were made by Knox founder Thibaud Marechal, the former head of portfolio services at Real Ventures, in an opinion…
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An event organizer in Moscow recently sold over USD 1,600 worth of drinks in bitcoin (BTC) to attendees – but experts are divided when it comes to answering the question: was it legal? The event was the brainchild of a crypto startup named Chatex, but per RBC, it has courted controversy. A recently passed law,…
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