A recent public consultation conducted by the Bank of Canada on the country’s central bank digital currency (CBDC) initiative has revealed a negative sentiment among Canadians. The consultation aimed to explore the role of CBDCs in a digital payment landscape dominated by credit cards. However, the survey, which received 89,423 responses, showed that Canadians are […]
The UK’s HM Revenue and Customs (HMRC) has introduced a new system for taxpayers to voluntarily disclose any unpaid tax on digital assets, including cryptocurrencies like Bitcoin, NFTs, and utility tokens. This initiative aims to increase oversight of the nascent asset class and help taxpayers rectify their tax affairs while potentially avoiding severe penalties and […]
Brazilians may soon face a new tax on income derived from cryptocurrencies held on exchanges outside the country. The Brazil Senate has approved new income tax rules that would require individuals to pay up to 15% tax on earnings over $1,200 made on foreign exchanges. The bill, which has already passed in the Chamber of […]
Switzerland-based asset management firm Pando Asset AG has filed for a spot Bitcoin exchange-traded fund (ETF) with the Securities and Exchange Commission (SEC). The ETF, if approved, would be listed on Nasdaq under the ticker PBC. Pando has partnered with the Bank of New York Mellon (BNY Mellon) as the trust’s administrator and Coinbase as […]
Binance, one of the major cryptocurrency exchanges, has announced that it will no longer support Binance USD (BUSD) products starting from December 15. This decision comes after Paxos, the issuer of BUSD, halted the minting of new coins. Users are advised to withdraw or convert their existing BUSD holdings into other assets before December 15. […]
A recent report from the Bank for International Settlements (BIS) has highlighted the potential vulnerability of central bank digital currencies (CBDCs) to cyber threats. The report emphasizes the importance of cybersecurity as a significant risk associated with the increasing adoption of digital cash initiatives by central banks worldwide. With over 130 central banks currently involved […]
BlackRock, a major asset manager, has made revisions to its proposed spot Bitcoin ETF structure in an effort to address concerns raised by the Securities and Exchange Commission (SEC). The changes aim to mitigate market manipulation and regulatory issues. The new model modifies the redemption process by introducing a “prepaid model” where the offshore market […]
Footballer Cristiano Ronaldo is currently facing a lawsuit for his involvement in promoting nonfungible tokens (NFTs) linked to the crypto exchange Binance. The lawsuit alleges that Ronaldo encouraged his followers to invest in Binance, which ultimately contributed to its growth. In another NFT-related incident, an NFT collector narrowly escaped a hacking attempt by an individual […]
IOTA, a leading distributed ledger technology (DLT) project, has achieved a significant milestone in its strategic expansion by registering the first DLT foundation in the United Arab Emirates (UAE). This move is expected to support IOTA’s growth in the Middle East and North Africa (MENA) region. The announcement of the foundation’s registration coincided with a […]
London-based crypto trading firm Copper is set to launch tokenized securities early next year. Led by former British Chancellor Phillip Hammond, the company aims to cater to the growing demand from institutional investors. The service will initially be introduced in Abu Dhabi through Copper Securities, the company’s new arm in the United Arab Emirates. Copper […]
