Recently, the popular cryptocurrency exchange KuCoin made headlines by announcing that it would start collecting a 7.5% value-added tax on trading fees from its Nigerian users on July 8. This decision, outlined in a statement released on July 3, caught many users by surprise. The introduction of the VAT on transaction fees for Nigerian users
Exchanges
Binance.US, the American arm of the world’s largest crypto exchange by trading volume, Binance, recently addressed the ongoing legal dispute with the Securities and Exchange Commission (SEC). Despite the SEC’s decision to continue with the case, Binance.US expressed readiness to move forward in the judicial process. The SEC’s allegations surrounding securities law violations have not
Sony Group, a well-known conglomerate in Japan, has recently announced its plans to launch a crypto exchange after acquiring Amber Japan. The acquisition of Amber Japan’s WhaleFin exchange will result in the rebranding of the exchange to S.BLOX Co. This move comes as part of Sony’s strategy to diversify its portfolio and enter the cryptocurrency
Jesse Powell, the founder of Kraken, a cryptocurrency exchange platform, recently made headlines by donating $1 million, mainly in Ethereum, to support former US President Donald Trump’s re-election bid. Powell clarified in a statement that the intention behind this donation was to ensure the US maintains its leadership in blockchain technology. This move has sparked
A recent decision by a US bankruptcy court has given FTX the green light to move forward with a liquidation plan that involves paying customer claims in cash. This plan, which is set to pay customers based on crypto prices at the time of FTX’s collapse in November 2022, has faced objections from customers who
Recently, a federal judge in California revealed that he is leaning towards allowing the US Securities and Exchange Commission’s (SEC) lawsuit against Kraken to proceed. This decision casts uncertainty on Kraken’s attempts to have the case dismissed. The judge, William Orrick, stated during the oral arguments that he was “inclined to deny” Kraken’s request. He
Binance, the leading cryptocurrency exchange globally, has recently been hit with regulatory challenges in various countries, including India. The Financial Intelligence Unit (FIU) of India imposed a hefty fine of 188.2 million Indian Rupees on Binance for non-compliance with the Anti-Money Laundering (AML) regulations. This fine amounts to approximately $2.2 million and was issued after
When it comes to traveling with cryptocurrency, one of the most crucial considerations is safeguarding your digital wallet. It is essential to ensure that your funds are secure and protected from potential threats. Implementing strong security measures, such as using secure passwords and two-factor authentication, can go a long way in safeguarding your crypto assets
A recent development in the case of Nadeem Anjarwalla, a Binance executive, has resulted in the dismissal of his human rights lawsuit against Nigeria’s National Security Adviser and the Economic and Financial Crimes Commission by a federal high court. Despite the dismissal, it was noted that Anjarwalla did not have legal representation during the proceedings,
In the recent events surrounding the discovery of a critical vulnerability in crypto exchange Kraken’s deposit system, blockchain security firm CertiK has come forward with shocking allegations. CertiK claims that Kraken threatened its employees on June 18, demanding a repayment of a “mismatched” amount in an unreasonable timeframe while failing to provide a relevant wallet
Brazil’s Special Department of Federal Revenue is taking significant steps to regulate foreign crypto exchanges operating within the country. The tax department has announced plans to collect information from these exchanges to ensure their compliance with local regulations. This move comes as a response to the growing concerns regarding the operations of foreign exchanges and
In the aftermath of the FTX collapse, a legal battle has emerged over the millions of dollars in assets seized from Sam Bankman-Fried (SBF) and former FTX executives. Multiple parties are now seeking control of these assets, which include airplanes, funds in various banks, shares of Robinhood stock, and political contributions linked to FTX executives.
Recently, the New York Attorney General’s office made an announcement regarding the settlement with Gemini, a popular cryptocurrency exchange. The agreement resulted in the recovery of $50 million for users who were affected by the defunct Gemini Earn program. This program misled thousands of investors about the risks involved, ultimately impacting over 230,000 users, including
In a world where copy trading has become increasingly popular, brokers are constantly searching for advanced solutions to meet the evolving needs of their traders. One such solution that has recently made waves in the industry is B2Copy, the next-generation copy trading platform developed by B2Broker. B2Copy sets itself apart from other platforms by offering