As the number of hacks and exploits in the crypto industry continues to rise, cybersecurity professionals are highlighting the need for improved crypto security measures. In 2023 alone, nearly $1 billion has been lost to crypto hacks, scams, and exploits. Recent incidents, such as the Poloniex exploit and the HECO Chain bridge hack, have resulted […]
Charlie Munger, the long-time right-hand man of Warren Buffett and vice chairman of Berkshire Hathaway, has passed away at the age of 99. Munger, who played a crucial role in turning Berkshire Hathaway into a successful investment firm, had a net worth of $2.6 billion. He was known for his sensible stock-picking and investing approach. […]
Cryptocurrency exchange Binance has come under scrutiny in the Philippines for operating without the necessary approval or license from the local securities regulator. The Philippines Securities and Exchange Commission (SEC) issued a warning stating that Binance is not authorized to sell or offer securities in the country. According to the SEC, Binance must apply for […]
Cardano co-founder Charles Hoskinson has criticized U.S. regulators for categorizing ADA and other cryptocurrencies as unregistered securities while giving bitcoin a pass. Hoskinson argues that bitcoin could also meet the legal criteria of an investment contract due to the broad nature of securities laws. The Securities and Exchange Commission (SEC) chairman, Gary Gensler, has suggested […]
Coinbase, a popular cryptocurrency exchange, has received a subpoena from the United States Commodity Futures Trading Commission (CFTC). The CFTC is seeking information about another cryptocurrency exchange called Bybit. It is speculated that Coinbase customers who also use Bybit have received a message regarding this subpoena. If the subpoena is not reversed by a court […]
The Financial Stability Board (FSB) is calling for greater cooperation among national regulatory bodies in the regulation of cryptocurrency. Specifically, the FSB is urging cross-border collaboration in the supervision of multifunction crypto-asset intermediaries (MCIs), which are critical to the crypto ecosystem but also pose risks to global financial stability. MCIs are firms that combine a […]
ByBit, the fourth-largest cryptocurrency exchange by volume, is now under scrutiny from US regulators. The Commodity Futures Trading Commission (CFTC) has subpoenaed rival exchange Coinbase for evidence against ByBit. Coinbase users have received emails informing them of the subpoena, which is part of the CFTC’s investigation into ByBit and its CEO, Ben Zhou. ByBit, unlike […]
In an effort to strengthen control and oversight in the world of cryptocurrency taxation, Spain has implemented new regulations requiring residents to declare their crypto assets held on non-Spanish platforms. The country’s tax agency has introduced a dedicated declaration form, known as Form 721, which individuals and businesses must use to report their holdings for […]
Spain has implemented a new regulation requiring Spanish citizens to disclose their cryptocurrency holdings held on foreign platforms for tax purposes. Individuals and businesses must report their holdings exceeding €50,000 by filling out a specific declaration form called Form 721. The reporting period is from January 1, 2024, to April 1, 2024, with the deadline […]
At the GDEC 2023 conference, Ravi Menon, the Managing Director of the Monetary Authority of Singapore (MAS), criticized Bitcoin and similar digital currencies, questioning their viability as a form of money. Menon argued that private cryptocurrencies, including Bitcoin, have failed as a means of storing value due to their volatility and use for speculation. However, […]
