The government of Brazil is advancing legislation that will increase taxes on cryptocurrency kept abroad. Local news sources claim that a legislative committee has accepted changes to a measure that would classify cryptocurrencies as “financial assets” for the purposes of taxation when used in international investments. The proposed legislation also levies taxes on gains resulting

The world’s largest cryptocurrency exchange by trading volume and user base, Binance, and Liquid Inc., the company behind Japan’s well-known eKYC solution “LIQUID eKYC,” announced a strategic partnership on August 10, 2023. Binance Japan will be given access to Liquid’s LIQUID eKYC identity verification service during the first stage of this relationship. The service uses

Shiba Inu (SHIB), a cryptocurrency that focuses on memes, has seen a surge in investment while traders exercise caution with bitcoin (BTC). According to data provider Coinglass, open interest in SHIB futures offered by Binance has increased by more than a factor of two to $101.65 million this month, reaching its highest level since February

Hong Kong Virtual Asset Exchange (HKVAX) has been granted in-principle authorisation by Hong Kong’s Securities and Futures Commission (SFC) to run a virtual asset trading platform in accordance with local securities legislation. The SFC gave HKVAX “approval-in-principle” on August 11 for company to conduct Type 1 and Type 7 regulated operations.The company’s ability to run a digital asset trading platform that deals with securities is permitted by a Type 1 license, according to the release, while providing automated trading services to individual users and institutional investors is authorized by a Type 7 license. In order to take advantage of Web3 investment prospects, the release states that HKVAX plans to provide a product category dubbed security token offerings.The exchange claimed that it will provide an institutional-grade exchange platform, an insured custody solution, and over-the-counter (OTC) brokerage once it has received the final permission. OTC brokerage enables customers to trade between fiat and digital assets.In the announcement, HKVAX co-founder and CEO Anthony Ng stated that as the exchange expands, it will keep broadening its product offerings in Hong Kong and collaborating with important investors for its upcoming investment rounds. Following the launch of cryptocurrency retail trading in Hong Kong with exchanges HashKey and OSL, HKVAX made its statement.Both businesses were the first to acquire the required licenses to provide cryptocurrency trading services in Hong Kong on Aug. 3.Since the FTX collapse, Hong Kong regulators have been concentrating on regulating cryptocurrency.After the collapse of the FTX exchange in 2022, according to SFC CEO Julia Leung Fung-yee, cryptocurrency trading will play a significant role in the ecosystem of virtual assets.Leung claimed in a speech that the new licensing system for suppliers of virtual asset services will guarantee investors’ protection when they trade.

The Commodity Futures Trading Commission (CFTC) has filed a lawsuit against several people and their company, Fundsz, alleging that they participated in a misleading scheme involving trading in cryptocurrencies and precious metals.There are accusations of deceptive investment solicitations against Rene Larralde from Melbourne, Florida, Juan Pablo Valcarce from West Melbourne, Florida, Brian Early from New

The Securities and Exchange Commission (SEC) case against cryptocurrency exchange Coinbase was requested to be dismissed by a federal court on Friday by U.S. Senator Cynthia Lummis (R-Wyo. ), a number of crypto advocacy groups, and a group of academics. The organisations and lawmakers claimed in amicus briefs, or friend of the court briefs, that

According to a blog post published on Thursday by Visa, testing for a procedure that would enable consumers to pay on-chain petrol taxes in fiat currency through card payments has been completed. Blockchain technology, which has seen substantial adoption over the last several years, according to the payments giant, “could shape the future of money

The proprietary Bitcoin Greed & Fear Index from cryptocurrency services firm Matrixport, which has a good track record of predicting trend reversals, is indicating a bullish recovery in bitcoin (BTC). Investor sentiment is gauged by the Greed & Fear Index. values below 10% signify extreme fear or pessimism, while values above 90% indicate excessive greed

The Fair Political Practises Commission (FPPC) of California has announced major revisions to its handbook on campaign disclosure, including the addition of specific guidelines for contributions made via cryptocurrencies. The FPPC’s August 2023 agenda contained these new regulations. The new regulations stipulate that bitcoin contributions are subject to applicable caps and must meet certain criteria.

The Securities and Exchange Commission (SEC) announced on August 10, 2023 that Bittrex Inc., a well-known cryptocurrency trading platform, and its co-founder and former CEO, William Shihara, had settled claims that they had operated without the necessary licences. Operating a national securities exchange, broker, and clearing agency without registration was included in the allegations. Similarly

According to former workers, Prime Trust, the troubled cryptocurrency custodian that was just ordered to suspend operations, appears to be planning possibly significant layoffs. Some people have heard that job losses could reach 75%. The sources, who asked to remain anonymous, provided information they had learned from within the business. The business faces significant financial

EDX Markets, a pioneering cryptocurrency exchange supported by a group of significant Wall Street companies, including Citadel, Fidelity, Schwab, Virtu, Sequoia, Paradigm, and others, announced a partnership with Solidus Labs to improve transaction monitoring across EDX’s platform. The partnership intends to offer customers seamless end-to-end transactional risk management capabilities, reflecting important institutional best practises and

According to a recent announcement by the Indian Ministry of Electronics and Information Technology (MeitY), users will soon be able to utilise crypto tokens to sign documents digitally using a new native web browser. Despite pushing for worldwide regulations for cryptocurrencies as the G20 president, India has not yet introduced any legislation for Web3 or

The country’s financial regulator AMF stated on Thursday that France has modified its registration requirements for cryptocurrency firms to more closely match the new regulations for the industry adopted by the European Union. The recently finalised Markets in Crypto Assets (MiCA) law, which is expected to go into effect in 12 to 18 months and

The $5 million investment in the Curve DAO Token (CRV), the token powering the Curve decentralised exchange (DEX) on the Ethereum blockchain, has been made by Binance Labs, the venture capital division of the largest cryptocurrency exchange in the world by trading volume. Curve is investigating a potential deployment on Binance’s BNB Chain as part

  According to economists’ predictions and in accordance with the monthly growth in June, the Consumer Price Index increased by 0.2% from June to July. In comparison to expectations of 3.3% and the data from June, the CPI increased by 3.2% on an annual basis. The core CPI, which excludes volatile food and energy prices,

Maple Finance, a blockchain-based credit marketplace, said that it has opened its USDC cash management pool, backed by tokenized Treasury bills (T-bills), to American investors. The Securities and Exchange Commission (SEC) of the United States granted Maple a Regulation D (RegD) exemption under Rule 506(c). Prior to this, the Maple pool was solely accessible to

According to broker Bernstein’s research report released on Wednesday, the stablecoin market will increase from its current $125 billion value to $2.8 trillion over the next five years. Stablecoins, a type of cryptocurrency often linked to the U.S. dollar, will experience a “growth flywheel” as a result of integration with consumer platforms, allowing issuers to

In response to a “misunderstanding” regarding how slippage operates on the platform, MuesliSwap, a Cardano-based decentralised exchange (DEX), announced on Wednesday that it will reimburse users who mistakenly lost money.Market makers, or traders who fill buy-and-sell orders, have the option to “fill the limit order and choose whether to return the additional slippage amount or

According to a response to a consultation released recently, the Bank of England (BoE) intends to continue with its plans for a systemic stablecoin regime. The consultation specified that systemic stablecoins would be under the FCA’s and the BoE’s supervision, which was welcomed by respondents. The accountability framework, which assesses whether the regulators’ strategy is

A new, programmable web3 wallet platform was made available by USDC stablecoin issuer Circle Internet Financial on Tuesday. The company claims that this platform may allow businesses accept payments made with digital assets from their clients. In accordance with a news release, developers and business owners can include Circle’s so-called Programmable Wallets into their applications

The start of a cash tender offer for up to $150.0 million of Coinbase Global, Inc.’s outstanding 3.625% Senior Notes due 2031 has been announced. The information was released in a press release that Blockchain.News sent on August 7, 2023, along with the announcement. A more equitable, open, effective, and transparent financial system is being

Binance has secured two licenses to operate in El Salvador as it strives to increase its global validity, the crypto exchange announced on Tuesday, adding that it now has licenses in 18 markets.According to the firm, the Central Bank of El Salvador (Banco Central de Reserva) granted Binance a Bitcoin Services Provider (BSP) license, while the Salvadoran National Commission of Digital Assets provided a non-provisional Digital Assets Services Provider license (DASP). “These licenses allow Binance to expand the products and services offered including options tailored to the needs of our customers in El Salvador,” Daniel Acosta, general manager for Colombia, Central America and Caribbean at Binance, said in the statement. El Salvador’s Legislative Assembly passed a bill regulating digital securities in January, laying the groundwork for the Central American country to issue bitcoin-backed bonds, commonly known as “Volcano Bonds.”Bitfinex said in April that it had been granted the country’s first digital asset service provider license.

Paxos Trust, a cryptocurrency infrastructure provider, is already working on other stablecoin projects comparable to PayPal’s new PYUSD, according to Paxos’ head of strategy Walter Hessert on CoinDesk TV on Tuesday.When asked if Paxos, which issues PYUSD for PayPal, has previously spoken with Elon Musk and X (formerly Twitter) about building a stablecoin for the platform, Hessert just stated that further initiatives are in the works. “We have other white label stablecoin operations in the works,” Hessert said on CoinDesk TV on Tuesday. “Paxos has talked with a lot of the largest technology and financial services companies about stablecoins, integrating stablecoins, launching white label stablecoins in some cases, and we think that there’s going to be a lot of really

PayPal (PYPL) said on Monday that it is entering the cryptocurrency market with its own US dollar-pegged stablecoin, PayPal USD (PYUSD). The Ethereum-based token will be available to PayPal users in the United States soon, marking the first time that a major financial company has issued its own stablecoin. Users can send and receive PYUSD between PayPal and compatible external wallets, fund purchases of products and services, and convert any of PayPal’s supported cryptocurrencies to and from PYUSD. PayPal stated that the stablecoin will be accessible to a “already large and growing community of external developers, wallets, and web3 applications,” and that it will be easily adopted by cryptocurrency exchanges. Paxos Trust, situated in New York, issues PYUSD, which is fully backed by US dollar deposits, short-term Treasuries, and comparable cash equivalents. It is always redeemable for dollars and can be exchanged for other cryptocurrencies on PayPal’s network, including bitcoin (BTC), bitcoin cash (BCH), ether (ETH), and litecoin (LTC). “The shift toward digital currencies requires a stable instrument that is both digitally native and easily connected to fiat currency like the U.S. dollar,” said Dan Schulman, president and CEO of PayPal, in a press statement. “Our commitment to responsible innovation and compliance, and our track record delivering new

On behalf of Sino’s Liquid Value fund, which was launched in collaboration with Sam Bankman-Fried in 2021, Matthew Graham’s Sino Global Capital filed a $67.3 million claim against FTX Trading Ltd. The fund primarily targeted high net worth individuals and had a $200 million fundraising goal. This strategy was novel for Sino because it was

A study from Swiss-based cryptocurrency investment adviser 21e6 Capital found that during the first half of 2023, investors would have gained more from purchasing and holding bitcoin (BTC) than from investing in crypto hedge funds. In comparison to bitcoin’s 83% rise during the time period, cryptocurrency funds returned an average of 15%, according to data

On Saturday, Kenyan authorities searched the Worldcoin warehouse in Nairobi, according to local news outlets, seizing records and equipment. According to media sources, Tools for Humanity, the parent business of Worldcoin, neglected to reveal its genuine purpose when it incorporated in Kenya, according to Immaculate Kassait, commissioner of Kenya’s Office of the Data Protection. According

Apparently, Genesis Global Capital’s subsidiary, Digital Currency Group, is the subject of a New York probe into financial activities. Financial transactions involving Digital Currency Group’s (DCG) subsidiary, Genesis Global Capital, are currently being investigated. According to sources familiar with the situation cited by Bloomberg, the investigation is being carried out by New York Attorney General

Alchemix, a lending marketplace, has declared that the Curve Finance hacker has returned all of the money that was taken. Over $61 million worth of cryptocurrencies were lost in the attack on July 30. This amount included $13.6 million from Alchemix’s alETH-ETH pool. JPEGd’s pETH-ETH pool and Metronome’s sETH-ETH pool both had outflows of approximately