Iran is set to redenominate its fiat currency, removing four zeros to create a new fiat called toman as demand for crypto is surging. Ravaged by crippling hyperinflation, Iran’s Parliament has sanctioned the redenomination of its fiat — the rial — by replacing it with a new currency called the toman. According to the plan,…
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Belgium’s economic inspectorate reported $3.2 million in losses due to cryptocurrency fraud in 2019. Global losses from cryptocurrency fraud and theft surged massively in 2019, doubling from 2018. Despite multiple efforts to tackle fraudulent crypto schemes, countries like Belgium continued to suffer losses to crypto fraudsters. According to a May 8 report by Belgian newspaper…
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Verady will integrate ALGO onto its crypto taxation platform Ledgible. Crypto tax provider Verady has announced a partnership with Algorand (ALGO) to offer integrated accounting to ALGO holders. Verady also revealed that its technology is being used by Algorand and Blockchain.com for their internal accounting and auditing. Verady integrates ALGO into tax platform Speaking to Cointelegraph, Verady’s…
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Bitcoin Suisse is looking for almost $50 million of funding from investors to pursue expansion plans, which include moving into the banking sector. Swiss crypto broker Bitcoin Suisse is seeking almost 50 million Swiss francs ($51.5 million) in funding to support its plans for expansion into the banking sector. According to a new report published…
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The Massive Adoption Crypto Festival is the target of a class-action lawsuit demanding compensation for damages following its cancellation in January. Securities fraud and investment loss attorney David Silver has filed a class-action lawsuit on behalf of attendees against the organizer of the cancelled Massive Adoption crypto conference. According to the initial complaint filed on…
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Telegram has agreed to provide communications relating to purchase agreements between the firm and the initial purchasers in its 2018 ICO. Telegram has filed an order of consent agreeing to provide a trove of communications and documentation requested by the United States Securities and Exchange Commission (SEC) on May 7. The communications concern the distribution…
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A newly unearthed report from South Korea’s financial watchdogs has revealed the rationale behind the country’s 2018 crypto crackdown. A newly unearthed report from South Korea’s financial watchdogs has revealed the rationale behind the country’s 2018 crypto crackdown that played a featured role in ‘Crypto Winter’. Digital Today dug up the “2017 Anti-Money Laundering Annual…
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New legislation in California may help establish definitions of digital assets as securities, though nationwide impact is uncertain. Per new updates to a bill to amend California’s securities law introduced in the state’s legislative body on May 5, the largest economy in the United States and the world’s tech hub may be providing new clarity…
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A court dispute between an international couple and four Bitcoin robbers has come to an end. The Shanghai No. 1 Intermediate People’s Court publicly announced an appeal for a Bitcoin foreign property damage compensation dispute on May 6, according to Baidu news. The second Court trial’s findings indicated that Bitcoin is a digital asset and…
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New research has highlighted a patchwork of laws, confused regulations and unusual concepts governing crypto taxation in Latin America. Research from Latin American crypto exchange Buda has highlighted a patchwork of laws, confused regulations and unusual concepts governing crypto taxation in the region. Buda has provided a series of tax guidelines outlining measures crypto traders…
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