Crypto-related phishing attacks have become “rampant” in South Korea, a report has claimed, with a top financial regulator set to act. Per Namdo Ilbo, the Financial Supervisory Service (FSS) will team up with the nation’s biggest crypto exchanges to create promotional materials. The regulator wants to boost public awareness of common crypto scams. Crypto Phishing…
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Tether Holdings, the issuer of the world’s largest stablecoin, Tether (USDT), has reported a record net profit of $4.52 billion in the first quarter of 2024, marking a significant achievement for the company. According to the report, the substantial profit was primarily attributed to the firm’s financial gains on Bitcoin and gold, totalling $3.52 billion, and…
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Hong Kong’s ZA Bank, a unit of China’s ZhongAn Online P&C Insurance, is reportedly exploring ways to offer virtual asset-related services after new regulations for digital assets launch in June. To establish itself as a crypto hub, Hong Kong implemented a new regulatory framework for crypto exchanges last year. This required all exchanges operating within…
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Federal prosecutors have launched an investigation into Block, the financial technology company co-founded by Twitter’s Jack Dorsey. The investigation focuses on alleged compliance lapses at its central units, Square and Cash App. Sources with direct knowledge of the matter revealed that discussions with a former employee have undisclosed documents highlighting various shortcomings in compliance practices, as…
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Two bipartisan U.S. lawmakers, Representatives Drew Ferguson and Wiley Nickel, have proposed the Providing Tax Clarity for Digital Assets Act to address taxation issues related to block rewards earned by crypto miners. The bill aims to clarify the tax treatment of staking rewards, proposing that they should only be taxed at the time of their…
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Wyoming’s Republican Senator Cynthia Lummis has responded to the Department of Justice’s (DOJ) latest argument regarding non-custodial software. Lummis’s remarks follow the DOJ’s reply brief on the indictment against Tornado Cash developer Roman Storm’s motion to dismiss. Senator Lummis Questions DOJ’s Non-Custodial Wallet Stance, Cites Legal Misinterpretations Senator Cynthia Lummis, a staunch advocate of cryptocurrency,…
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An Argentinian lawmaker has launched a draft bill that proposes regulating Worldcoin and its operator in the Latin American nation. The move comes just days after Worldcoin announced a planned expansion in Mexico. Some Mexican lawmakers have also called for a probe into operator Tools for Humanity. Argentina Lawmaker: We Must Protect Consumer Rights Per…
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Microstrategy has introduced a new enterprise decentralized identity platform, Microstrategy Orange, during the Bitcoin for Corporations segment at Microstrategy World 2024 event in Las Vegas. Microstrategy Intends to Leverage the Bitcoin Blockchain for Identity Management According to an unofficial draft on Github, the Orange platform leverages the Bitcoin Inscription DID method (did:btc), which incorporates data…
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Bitcoin Price Prediction Today, Bitcoin is nearing the $60,000 threshold, with its current price at $59,966 following a 5.75% decline over the last 24 hours. This analysis provides a Bitcoin price prediction by exploring the current market status and forecasting potential future trends. Bitcoin’s trading volume has reached $37.7 billion, solidifying its position with a…
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Roger Ver, an early investor in Bitcoin-related startups known as “Bitcoin Jesus” has been arrested in Spain and charged with tax fraud. In an announcement, U.S. Department of Justice said an indictment that was unsealed charging Ver with mail fraud, tax evasion and filing false tax returns. The authorities said they have arrested Ver this weekend…
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