European Central Bank (ECB) executive board member Fabio Panetta has cast a gloomy future for crypto, linking it with gambling among traders. The official said that crypto assets should be regulated as a kind of gambling due to their “highly volatile” character. In prepared comments for a panel discussion at
June 26, 2023 2 mins read
The Japanese National Tax Agency is relaxing its position on taxing crypto assets for companies operating in Japan. To make it simpler for cryptocurrency-related businesses to operate in Japan. The tax administration has reportedly announced that unrealized profits from cryptocurrencies produced by corporations themselves would no longer be taxed. Taxation
June 26, 2023 2 mins read
On June 22, TrueUSD tweeted that its TUSD stablecoin has “no exposure” to the ailing Prime Trust, which is allegedly encountering regulatory issues. Prime Trust, located in Nevada, allegedly froze all fiat and cryptocurrency deposits and withdrawals. This was after receiving an order from state financial authorities. Many customers are
June 24, 2023 1 min read
Casa, a cryptocurrency self-custody platform, recently added support for Ether storage, claiming this to be a first in the market alongside its support for Bitcoin self-storage. Moreover, Casa has been advocating for multisignature self-custody in the cryptocurrency space since its creation in 2016. Its flagship Bitcoin vault has multi-key encryption,
June 24, 2023 1 min read
On Thursday, in an effort to recover $700 million in investments allegedly made with diverted FTX money, the bankrupt cryptocurrency exchange FTX sued K5 Global and associates. According to a bankruptcy court lawsuit filed by FTX in Wilmington, Delaware, Sam Bankman-Fried (SBF), the company’s founder, was a “profligate patron” who
June 23, 2023 2 mins read
The largest bank in Japan, Mitsubishi UFJ Financial Group Inc (MUFG), is in negotiations with worldwide stablecoin issuers to create its tokens on its own blockchain network. Moreover, Japan’s stablecoin legislation, which permits licensed banks, trust organizations, and authorized money transfer agents to issue these cryptocurrencies, went into force on
June 23, 2023 2 mins read
One of the fastest-growing industries in the financial sector is the crypto industry which has escalated exponentially in the last decade. Significantly, the crypto buzz across India is gradually increasing every year. Crypto trading has become popular in India despite its regulatory issues and other challenges. It is clearly known
June 23, 2023 3 mins read
On June 21, the platform Open Exchange (OPNX), which allows users to trade claims against insolvent crypto companies, made an announcement about a new ecosystem partner that would be known as “3AC Ventures.” Developers claim that the new venture will invest in projects linked to the OPNX ecosystem. Su Zhu
June 22, 2023 2 mins read
Financial powerhouse Valkyrie is the latest to apply to the U.S. Securities and Exchange Commission (SEC) for approval to launch a spot Bitcoin Exchange-traded fund (ETF). Spot Bitcoin ETF registration with the SEC was submitted by Valkyrie on June 21. They want to have the fund listed on the Nasdaq
June 22, 2023 1 min read
Automobile giant Skoda’s Indian subsidiary, in keeping with its worldwide Web 3.0 ambition, has established Skodaverse India, a platform where users can access and buy/trade Non-Fungible Tokens (NFTs) in an attempt to boost interaction with the tech-savvy youth and build a loyal consumer base. Plus, Skodaverse is working with Near
June 21, 2023 1 min read
