South Korea’s tax body last year confiscated cryptoassets worth $28.4 million from citizens who were trying to avoid paying taxes. Per Newsis, the number of “crypto tax dodgers” has ballooned from 5,741 – a figure reported in late 2022 – to 10,849. The latest figures come from the National Tax Service (NTS). The data was…
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South Korea’s financial regulators are taking “baby steps” while US counterparts forge ahead with rapid crypto regulation progress, a new report has claimed. Per the South Korean media outlet News Tomato, domestic financial authorities are yet to “properly organize” their crypto arms. The outlet wrote: “There is no organization dedicated to cryptoassets at the Financial…
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Source: BIS The Bank of International Settlements (BIS) has unveiled that its central bank digital currency (CBDC) is entering a new phase this year. Dubbed ‘Aurum,’ the CBDC project will explore “the privacy of payments in retail CBDCs,” BIS noted. The announcement came Tuesday as a part of BIS’s first six projects for 2024 under…
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Bitcoin, the foremost digital currency, witnessed a notable dip below the critical $40,000 mark, briefly falling to around $39,500. This decline has been linked to substantial Bitcoin sales, notably influenced by the Grayscale GBTC Bitcoin ETF, fueling concerns about a possible further descent to the $38,000 level. Bitcoin has fallen about 20% since the Jan.…
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According to an announcement from the publicly-listed bitcoin miner Iris Energy, the mining operation has increased its operating capacity to 6 exahash per second (EH/s) and expects an additional 4 EH/s to be online by the first half of 2024. Iris Boosts Mining Capacity to 6 EH/s Amidst IREN Share Dip The announcement on Tuesday…
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Source: Pixabay Bitcoin (BTC) is facing another wave of volatility falling below the $39,000 mark on Tuesday, a 4.33% slump in the past 24 hours. The largest crypto by market cap is currently trading at $38,955 at press time. According to data from Coinglass, 124,153 traders were liquidated in the past 24 hours, resulting in…
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U.S. Senator Elizabeth Warren criticized the illegal use of cryptocurrency assets by bad actors. Commenting on a report issued by the U.S. Government Accountability Office (GAO), Warren declared that “rogue nations are using crypto to dodge sanctions and undermine our national security,” calling to establish increased money laundering rules on these assets. U.S. Senator Elizabeth…
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Source: Pixabay Crypto exchange Gemini, founded by the Winklevoss twins, is possibly trying to relist Ripple (XRP) token, crypto community speculates. In a series of posts on X (formerly Twitter), Gemini expressed its interest in the token, hinting a possible expansion of XRP trading options. Don’t forget about xrp — Gemini (@Gemini) January 21, 2024…
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Despite facing hurdles, bitcoin’s price could rebound and potentially soar to $60,000 this year, per CoinShares’ analysis. In a report published Monday, CoinShares forecasted 2024 as a pivotal year for digital assets, anticipating a surge in bitcoin’s value following the recent launch of spot-based bitcoin ETFs in the US. On January 10, the US Securities…
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A leading Japanese crypto advocate has won a seat in the House of Councilors, the nation’s lower parliamentary house. Per CoinPost, Takeshi Fujimaki, a former lawmaker who lost his seat in the 2019 election, has been restored to the house under proportional representation rules. Fujimaki, a 73-year-old crypto and blockchain champion, will take his place in…
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