Recently, KuCoin announced that it would be introducing a 7.5% value-added tax on trading fees for Nigerian users starting on July 8. This decision has raised eyebrows in the crypto community as it marks a significant shift in the taxation landscape for digital assets in the country. The firm stated that the VAT would be
Exchanges
Binance.US, the American arm of the world’s largest crypto exchange by trading volume, Binance, is currently facing a legal battle with the Securities and Exchange Commission (SEC). The SEC has filed several allegations against Binance.US, accusing the exchange of violating securities laws. On July 1, Binance.US released a statement indicating that the Court had decided
Sony Group, a well-known conglomerate in Japan, has recently made headlines with its acquisition of Amber Japan and the launch of a new crypto exchange. The acquisition of Amber Japan’s WhaleFin exchange, which will be rebranded as S.BLOX Co, signals Sony’s entry into the world of cryptocurrencies. This move is part of Sony’s strategy to
The recent news of Kraken founder Jesse Powell’s $1 million donation, mainly in Ethereum, to support former US President Donald Trump’s re-election bid has raised many eyebrows in the crypto community. Powell mentioned that the donation was intended to help the US maintain its leadership in blockchain technology. This move has sparked a debate among
FTX has been granted approval by a US bankruptcy court to proceed with a liquidation plan that involves paying customer claims in cash, as reported by Reuters. This plan overrides objections from customers who argue for higher payouts due to the increase in crypto prices since FTX’s collapse in November 2022. Customer Concerns and Objections
In a recent development, a federal judge in California expressed his inclination towards allowing the US Securities and Exchange Commission’s (SEC) lawsuit against Kraken to proceed. This decision casts doubt on the exchange’s hopes of having the case dismissed. The judge, William Orrick, mentioned that he was leaning towards denying Kraken’s request to dismiss the
Binance, the leading cryptocurrency exchange globally, is currently navigating through various regulatory hurdles in different countries, such as India, Canada, and the United States. In India, the Financial Intelligence Unit (FIU) imposed a hefty fine of 188.2 million Indian Rupees on Binance for failing to comply with Anti-Money Laundering (AML) regulations. The FIU found that
When it comes to traveling with cryptocurrency, one of the key considerations is ensuring the security of your digital wallet. It is essential to implement time-tested strategies to protect your crypto assets from potential threats and cyber attacks. Accessing your crypto accounts while on the move requires a high level of caution, especially when it
Recently, blockchain security firm CertiK made headlines by revealing a critical vulnerability in the deposit system of the popular crypto exchange Kraken. CertiK claimed that Kraken had threatened its employees and demanded repayment for a “mismatched” amount in an unreasonable timeframe without providing a relevant wallet address. The security firm denied any extortion allegations and
In a recent development, a federal high court in Nigeria dismissed a human rights lawsuit brought forward by Binance executive Nadeem Anjarwalla against the country’s National Security Adviser and the Economic and Financial Crimes Commission. This decision came on June 19, as Justice Inyang Ekwo ruled the case out due to Anjarwalla’s lack of legal
