Cryptocurrency Assets – DIGIT INFO

Report: Terraform Labs Co-Founder Indicted on Fraud Charges in South Korea

DIGIT — Tue, 25 Apr 2023 18:35:00 +0000

Recent local reports have brought to light that Shin Hyun-seong, also known as Daniel Shin, co-founder of Terraform Labs, has been indicted by the Seoul Southern District Prosecutors’ Office on charges of fraud. Along with nine others, Shin is suspected of deceiving investors and accumulating around 460 billion won ($350M) before the Terra project ultimately […]

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UK Treasury Budget Discusses Separate Reporting of Crypto Assets in Tax Documents

DIGIT — Thu, 16 Mar 2023 02:49:56 +0000

Taxpayers in the United Kingdom will have to report cryptocurrency assets separately in their tax documents for the tax year 2024-25, according to the Exchequer’s recently published spring 2023 budget. New Criminal Offenses Planned by U.K. Government to Combat Tax Avoidance Amid the chaos in the banking sector following the collapse of Silicon Valley Bank’s […]

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British Bank Natwest Implements New Limits on Cryptocurrency Payments to Combat UK Crypto Scams

DIGIT — Wed, 15 Mar 2023 18:00:35 +0000

On March 14, 2023, the U.K.-based bank Natwest Group announced new limits on cryptocurrency payments, citing crypto scams that cost U.K. consumers £329 million annually. The limit imposed on crypto exchanges is £1,000 daily ($1,215), with a 30-day limit of £5,000 ($6,077). Natwest’s Cautious Approach Towards Crypto Assets Prompts Another Transfer Limit Amid the banking […]

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Bybit Halts US Dollar Deposits via Bank Transfer Due to Service ‘Outages’ From Partner

DIGIT — Sat, 04 Mar 2023 20:45:03 +0000

On March 4, 2023, cryptocurrency exchange Bybit announced that it had suspended U.S. dollar deposits via bank transfer. Bybit cited “outages” from its partner as the reason for the suspension of USD deposits via bank transfers and the SWIFT network. Bybit Suspends USD Deposits, Wire Transfer Withdrawals Open Until March 10 The cryptocurrency exchange Bybit, […]

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FTX Discovers $5.5B in Liquid Assets — Debtors Explore Ways to Maximize Recovery via Potential Sale of Subsidiaries, Real Estate

DIGIT — Wed, 18 Jan 2023 15:00:52 +0000

On Jan. 17, 2023, FTX Trading Ltd. and affiliated debtors updated the public and detailed that the firm’s current administrators have discovered $5.5 billion of liquid assets to date. Top-level executives, including the new FTX CEO and chief restructuring officer, John J. Ray III, met with the bankruptcy case’s committee of unsecured creditors to share […]

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Study Reveals South Korea’s ‘Kimchi Premium’ Strongly Linked to International Remittances to China

DIGIT — Tue, 10 Jan 2023 22:30:28 +0000

A newly-released study published in December 2022 reveals that South Korea’s “kimchi premium,” the divergence in cryptocurrency valuations on Korean exchanges compared to Western trading platforms, is strongly associated with a surge in international remittances to China. Examination of Overseas Remittances to China Uncovers Strong Correlation with South Korea’s ‘Kimchi Premium’ According to a study […]

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Ledger Reveals New Crypto Hardware Wallet Designed by iPod Creator Tony Fadell

DIGIT — Wed, 07 Dec 2022 09:30:27 +0000

On Tuesday, the hardware wallet manufacturer Ledger announced the launch of a new device called Ledger Stax. The machine was designed by iPod creator, Tony Fadell, and the France-based firm Ledger says the new device was built with “uncompromisingly secure architecture.” iPod Creator Tony Fadell Partners With Ledger to Launch a New Crypto Hardware Wallet […]

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