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Kucoin to Implement 7.5% VAT on Transaction Fees for Nigerian Users

Bitcoin.com
Kucoin to Implement 7.5% VAT on Transaction Fees for Nigerian Users
Africa
Kucoin to Implement 7.5% VAT on Transaction Fees for Nigerian UsersNigeria-based KuCoin users will begin being levied a 7.5% value-added tax (VAT) on transaction fees starting on July 8. Some observers believe that Kucoin’s decision to implement this tax is intended to enhance its chances of securing an operating license. A Lagos-based crypto industry player stated that implementing the tax will likely harm the industry. […]
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<div>BTC traders see 'limited upside' in short-term after SBR twist — Analyst</div>

BTC traders see ‘limited upside’ in short-term after SBR twist — Analyst

Binance’s Local Exchange Receives Dubai License, Initiates UAE User Migration

Bitcoin.com
Binance’s Local Exchange Receives Dubai License, Initiates UAE User Migration
Binance FZE
Binance’s Local Exchange Receives Dubai License, Initiates UAE User MigrationBinance is transitioning UAE resident accounts to its new regulated local entity, Binance FZE, following a Virtual Asset Service Provider license from Dubai’s regulator. This change will allow UAE users to access various virtual asset services locally, including AED bank deposits and withdrawals. Binance’s Local Exchange in UAE Now Licensed Crypto exchange Binance announced on […]
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<div>BTC traders see 'limited upside' in short-term after SBR twist — Analyst</div>

BTC traders see ‘limited upside’ in short-term after SBR twist — Analyst

Blockchain Association objects to IRS broker rule in letter

Coin Telegraph
Blockchain Association objects to IRS broker rule in letter
AML

The Washington DC-based blockchain advocacy group argued the IRS' broker rule provisions violate the Paperwork Reduction Act.

The Blockchain Association is once again objecting to the Internal Revenue Service's (IRS) proposed broker-dealer rules; this time focusing on the undue burden the rules would impose on investors, cryptocurrency companies, and the Internal Revenue Service itself.

In the letter, the industry advocacy group cited the Paperwork Reduction Act, which states that government regulators must not burden individuals and entities involved in the financial system with unnecessary and obtuse paperwork requirements.

Spokespeople for the Blockchain Association argued that signing these proposed rules into law would add 8 billion 1099-DA tax forms that must be processed, 4 billion hours in labor wasted to process the forms, and an annual compliance cost of $254 billion.

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<div>BTC traders see 'limited upside' in short-term after SBR twist — Analyst</div>

BTC traders see ‘limited upside’ in short-term after SBR twist — Analyst

Allegations of ‘Rug Pull’ Arise After Gemholic Team Withdraws $3.5M in Previously Locked ETH

Bitcoin.com
Allegations of ‘Rug Pull’ Arise After Gemholic Team Withdraws .5M in Previously Locked ETH
audit
Allegations of ‘Rug Pull’ Arise After Gemholic Team Withdraws .5M in Previously Locked ETHOn June 7, the team behind the Zksync project Gemholic withdrew 921 previously locked ethereum tokens in a suspected rug-pulling incident. The Gemholic team executed the theft despite reportedly completing the blockchain security firm Solidproof’s Know Your Customer (KYC) process. Zksync’s v24 Upgrade The layer two (L2) Ethereum blockchain scaling protocol, Gemholic, faced allegations of […]
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<div>BTC traders see 'limited upside' in short-term after SBR twist — Analyst</div>

BTC traders see ‘limited upside’ in short-term after SBR twist — Analyst

Citadel-backed Hidden Road halts ByBit access for clients

Coin Telegraph
Citadel-backed Hidden Road halts ByBit access for clients
AML

Hidden Road cited Know Your Customer verification policies and concerns surrounding Anti-Money Laundering regulations on the ByBit exchange.

Hidden Road, a Citadel-backed brokerage firm, has officially halted access to the ByBit exchange for Hidden Road clients, who were notified of the impending change weeks ago.

According to Bloomberg, the restriction on services resulted from differences between Hidden Road and ByBit regarding Know Your Customer (KYC) verification procedures and Anti-Money Laundering (AML) regulations.

In response, ByBit claimed that it would conduct an audit of its brokerage business to ensure regulatory policy was being implemented correctly.

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<div>BTC traders see 'limited upside' in short-term after SBR twist — Analyst</div>

BTC traders see ‘limited upside’ in short-term after SBR twist — Analyst

Nigerian Fintech Firm Flutterwave Confirms Hacking Attempt, Says Users’ Funds Safe

Bitcoin.com
Nigerian Fintech Firm Flutterwave Confirms Hacking Attempt, Says Users’ Funds Safe
Africa
Nigerian Fintech Firm Flutterwave Confirms Hacking Attempt, Says Users’ Funds SafeThe Nigerian fintech firm Flutterwave claimed on May 16 that it had foiled an attempt to breach its payments platform. Flutterwave asserted that the “unauthorized activities inconsistent with usual customer behavior” did not compromise users’ funds or data confidentiality. According to one report, over $7 million was siphoned from Flutterwave following a cyberattack in April. […]
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<div>BTC traders see 'limited upside' in short-term after SBR twist — Analyst</div>

BTC traders see ‘limited upside’ in short-term after SBR twist — Analyst

Nigeria Cryptocurrency Clampdown: Central Bank Directs Fintech Firms to Stop Opening New Accounts

Bitcoin.com
Nigeria Cryptocurrency Clampdown: Central Bank Directs Fintech Firms to Stop Opening New Accounts
Africa
Nigeria Cryptocurrency Clampdown: Central Bank Directs Fintech Firms to Stop Opening New AccountsThe Central Bank of Nigeria has directed four fintech companies to cease the creation of new accounts, citing their potential use by cryptocurrency traders. An executive from one of the affected fintech companies has associated the Central Bank’s directive with a current audit of the Know Your Customer (KYC) procedures implemented by these firms. Fintech […]
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<div>BTC traders see 'limited upside' in short-term after SBR twist — Analyst</div>

BTC traders see ‘limited upside’ in short-term after SBR twist — Analyst

Coinbase, A16z-Backed Web3 Ad Network Everyworld to Begin Community Airdrop

Bitcoin.com
Coinbase, A16z-Backed Web3 Ad Network Everyworld to Begin Community Airdrop
Airdrop
Coinbase, A16z-Backed Web3 Ad Network Everyworld to Begin Community AirdropEveryworld, the Coinbase and A16z-backed Web3 advertising network, is set to start its community airdrop on April 15. Users who wish to participate in the airdrop must not be U.S. citizens or residents of 25 other countries, including Australia, China, and Russia. The Web3 rewarded ads protocol follows a similar model by rewarding users directly […]
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<div>BTC traders see 'limited upside' in short-term after SBR twist — Analyst</div>

BTC traders see ‘limited upside’ in short-term after SBR twist — Analyst

Crypto Entities That Neglect AI and Machine Learning Investment Will Lag Behind, Warns Binance CTO

Bitcoin.com
Crypto Entities That Neglect AI and Machine Learning Investment Will Lag Behind, Warns Binance CTO
bitcoin.com
Crypto Entities That Neglect AI and Machine Learning Investment Will Lag Behind, Warns Binance CTORohit Wad, the chief technology officer (CTO) of Binance said his platform has increased its compliance budget in recent years to ensure it achieves the “highest regulatory compliance standard.” According to Wad, Binance has used a compliance budget, which rose 35% year over year to $213 million, to invest in transaction monitoring, market surveillance, and […]
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<div>BTC traders see 'limited upside' in short-term after SBR twist — Analyst</div>

BTC traders see ‘limited upside’ in short-term after SBR twist — Analyst

Community-Driven Ecosystem Accelerators ‘A Vital Component of Crypto Funding Mechanisms’ – Elie Le Rest

Bitcoin.com
Community-Driven Ecosystem Accelerators ‘A Vital Component of Crypto Funding Mechanisms’ – Elie Le Rest
Avalanche (AVAX)
Community-Driven Ecosystem Accelerators ‘A Vital Component of Crypto Funding Mechanisms’ – Elie Le RestLarge institutions will fully embrace decentralized finance (defi) only when they are confident that their trade counterparties will comply with sanctions and other international laws, argues Elie Le Rest, CEO of Colony Lab. However, Le Rest, also an angel investor, said trade counterparties can still demonstrate their willingness to adhere to rules by implementing gated […]
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<div>BTC traders see 'limited upside' in short-term after SBR twist — Analyst</div>

BTC traders see ‘limited upside’ in short-term after SBR twist — Analyst

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