Fri, March 29

Lack of Power Resources Mounts Pressure on Crypto Miners in Cuba

In Cuba, cryptocurrency has advanced to the point that its inhabitants may use it to purchase goods online from outside, recharge their mobile phones and the internet, and send and receive money from family and friends living outside of the country. However, challenges remain for cryptocurrency mining to achieve the

December 12, 2022 1 min read

Russian Crypto Ponzi Firm Finiko’ Key Member Arrested in UAE

A key figure in the organization of Russia’s greatest financial pyramid in recent years, Finiko, has been arrested in the United Arab Emirates. After the arrest of Zygmunt Zygmuntovich. The other co-founder of the Ponzi scam, last month, news of Edward Sabirov’s incarceration in an Arab nation comes as a

December 12, 2022 1 min read

Ark Invest’ Cathie Wood Backs Bitcoin Despite Recent Turmoil

Cathie Wood, CEO of Ark Invest, recently tweeted her admiration for Bitcoin’s resiliency, noting that the flagship cryptocurrency “didn’t skip a beat” amid a recent crisis. Additionally, she claims that Bitcoin’s transparency and decentralization are reasons why discredited FTX founder Sam Bankman-Fried disliked it. The well-known investor said, “He couldn’t

December 11, 2022 1 min read

EU Sets Cap on Cash Transactions Along With Crypto Payments

EU member states have issued new guidelines designed to restrict criminals’ access to cash and other decentralized payment systems like cryptocurrencies. On November 6th, the bloc agreed to allow cash transfers of up to €10,000 ($10,557). However, individual nations will have the option to lower the cap even more. When

December 11, 2022 1 min read

Paraguayan Crypto Law Put on Hold After Dwindling Support

After failing to get enough traction in the Deputy Chamber, the Paraguayan cryptocurrency bill that had been submitted to Congress in 2021 was eventually placed on hold. After President Mario Abdo blocked the proposal in September, proponents couldn’t muster the support they needed to overturn the veto. Paraguay’s senate has

December 10, 2022 2 mins read

Twitter CEO Elon Musk Issues Warning to Staff Over Leaking Data

According to reports, Elon Musk has taken a dramatic new step by threatening to sue Twitter workers who are engaged in leaking the company’s secret information. He sent a warning email to the Twitter team advising them not to give out too much information to the press. Moreover, Musk wants

December 10, 2022 1 min read

CEO of Crypto News Platform ‘The Block’ Resigns Post FTX Link

The CEO of cryptocurrency news site The Block, Michael McCaffrey, resigned when it was revealed that the business had received an undisclosed investment from former FTX founder Sam Bankman-Fried, according to a report by Axios. McCaffrey, who became CEO in April of 2020, has also resigned from the board of

December 10, 2022 1 min read

UK Proposes Reforms Including Tax Liabilities For Crypto Assets

The government of the United Kingdom has proposed over thirty changes to financial regulation, some of which include the expansion of tax benefits for investment managers to include crypto assets. To replace EU law in areas like disclosure for financial products, the so-called “Edinburgh Reforms” ease ring-fencing capital regulations to

December 10, 2022 1 min read

SEC Unveils New Guidelines For Firms Linked With Crypto Sector

In light of the current market turmoil, the Securities and Exchange Commission (SEC) has released new rules for corporations making financial disclosures, requiring them to disclose a more comprehensive record of their connection to the crypto sector. The criteria, detailed in an illustration letter, extend beyond the balance sheet total

December 9, 2022 1 min read

UK-based Crypto Tax Firm ‘Koinly’ Announces 14% Layoff

Koinly, a crypto tax firm located in the United Kingdom, has announced the layoff of 14% of its worldwide staff to tackle the tough circumstances affecting the cryptocurrency sector and economy at large. There will be a total of 16 layoffs, with CEO Robin Singh citing the worsening bear market

December 7, 2022 1 min read