The Council of the European Union has officially adopted the eighth iteration of the Directive on Administrative Cooperation (DAC8), a cryptocurrency tax reporting rule. This regulation, which follows the enactment of the Markets in Crypto-Assets (MiCA) legislation, will come into force once it is published in the Official Journal of the EU. DAC8 aims to […]
The European Central Bank (ECB) has emphasized the need for a comprehensive regulatory framework for decentralized autonomous organizations (DAOs) in the financial sector. In an occasional paper titled “The future of DAOs in finance – in need of legal status,” the ECB highlighted how the rapid advancement of technology has outpaced regulation, posing risks to […]
The US Securities and Exchange Commission (SEC) is showing increased communication with applicants for spot Bitcoin exchange-traded funds (ETFs), a departure from its usual silence on the matter. This comes after fake news circulated about BlackRock’s Bitcoin ETF approval, adding to the anticipation surrounding potential SEC acceptance. Major players in the investment world, such as […]
The European Union (EU) has implemented a new directive aimed at enhancing collaboration among member states regarding the sharing of tax data related to cryptocurrencies. This move is intended to strengthen the existing norms surrounding crypto taxation and improve cooperation between national tax authorities. The directive seeks to address the challenges posed by the decentralized […]
BlackRock CEO Larry Fink believes that Bitcoin and other cryptocurrencies are now seen as safe-haven assets in times of geopolitical uncertainty. Fink suggests that the recent rally in Bitcoin’s price indicates that investors view it as a mature asset that can store value during crises. He attributes the rally to a flight to quality, driven […]
Reddit has decided to end its Community Points initiative, which rewarded high-quality posters with Ethereum-based tokens. The website cited a lack of scalability and high costs as the reasons for discontinuing the program. The decision will only affect a few subreddits, as the original plan to put all Reddit users on the blockchain was deemed […]
Coinbase, a leading cryptocurrency exchange, has reaffirmed its commitment to combatting the illicit use of cryptocurrencies. The company has implemented a robust compliance program that includes Know Your Customer (KYC) checks and thorough sanctions screening. Coinbase also collaborates closely with law enforcement agencies to track and prevent terrorist financing. The exchange advocates for clear regulations […]
Public sentiment towards cryptocurrency in Hong Kong has declined following the JPEX crypto exchange scandal, according to a survey conducted by The Hong Kong University of Science and Technology’s business school. The survey aimed to understand the impact of the scandal on public attitudes towards virtual assets. The initial findings revealed that 41% of respondents […]
Reddit has announced that it will be shutting down its blockchain-based rewards service called “Community Points” due to scalability concerns. This decision has caused the value of Reddit tokens, MOON and BRICK, to plummet, leading to disappointment and anger among Reddit users and crypto enthusiasts. The move has been criticized by traders and users, with […]
Nishad Singh, the former director of engineering at FTX, faced intense cross-examination during the tenth day of the Sam Bankman-Fried (SBF) trial. Singh, who has pleaded guilty to fraud and conspiracy charges, provided further insights into the inner workings of FTX and SBF’s activities. The focus of the day was on the software bug that […]
