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Can any stablecoin topple tether? In 2019, the answer to that question was an emphatic ‘No.’ Despite a string of stablecoins being released onto the market, tether (USDT) increased its grip on the cryptoconomy’s fiat supply, racking up $127B of on-chain volume on Ethereum alone. This year, the king of stablecoins faces a renewed assault … Read more
Establishing a “national mining pool” has been declared a priority in Uzbekistan. Miners who join the pool will enjoy lower electricity rates, announced the country’s agency overseeing the crypto industry. The Central Asian nation is also preparing to launch a licensed cryptocurrency exchange, where miners will be able to sell the coins they have minted. … Read more
India’s supreme court spent all day hearing arguments against the crypto banking ban by the Reserve Bank of India (RBI) on Wednesday. The counsel for the Internet and Mobile Association of India presented extensive arguments to convince the court that the central bank acted outside its jurisdiction and power in placing a banking restriction on … Read more
The global crypto exchanges industry continues to consolidate as some smaller players bow out and the big players try to gobble up as much as they can of the rest. As part of this trend, Kraken has now taken over the Australian platform Bit Trade in a bit to strengthen its foothold in the Asia … Read more
The countries of Central and Eastern Europe, a diverse region sometimes referred to as the ‘Second World,’ are at different stages of their economic development and political integration with the EU or other supranational organizations. Having less established traditional sectors, looser regulations and weaker associations creates better conditions for new industries to develop there. Along … Read more
The European Union’s 5th Anti-Money Laundering Directive mandates that member states start regulating crypto assets by Jan. 10. Crypto exchanges and custodial wallet providers are now covered by the same regulatory requirements as banks and other financial institutions. Also read: Regs Roundup: SEC Actions, Crypto Tax-Free in Korea, New Chinese Laws EU’s Regulatory Deadline: Jan. … Read more
The publication of crypto exchange Kraken’s 2019 Transparency Report has provoked discussion about the scale of government surveillance. According to the report, Kraken received 710 requests last year (or two per day), impacting approximately 1,222 accounts. The report provides further evidence that exchanges are coming under intense scrutiny as global governments get tough on crypto. … Read more
India’s former Finance Secretary Subhash Chandra Garg has shared his views on the future of cryptocurrency, both in India and worldwide. He headed the committee responsible for drafting the infamous bill to ban cryptocurrencies, which the crypto community calls flawed in many regards. Also read: Regulatory Roundup – China Blockchain ETF, New French Crypto Rules, … Read more
Crypto exchange Poloniex confirms data leak after sending out awkward email to customers Go to Source Powered by WPeMatico
The National Tax Service of South Korea (NTS) has decided to withhold income tax from Bithumb’s foreign customers. The total tax to be imposed on their transactions amounts to more than 80 billion won (over $69 million), the leading Korean cryptocurrency exchange announced. Also read: Poles Hit With Backdated Tax on Crypto Trades Bithumb to … Read more