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WazirX Asks Singapore Court for 6 Months to Restructure Liabilities as CoinSwitch Weighs Legal Action
28.8.2024
Indian rival CoinSwitch said it is likely to sue the hacked crypto exchange, where $9.6 million worth of deposits were held
Binance Launches Mobile Money Feature for Crypto Transactions in Africa
23.8.2024
Crypto exchange Binance has launched its One Click Buy and Sell (OCBS) service in Africa, enabling users in Ghana, Tanzania, Uganda, and Zambia to buy and sell cryptocurrencies via mobile money accounts. This initiative aims to enhance financial inclusion, particularly for the unbanked...
Nigeria Aims to Include Cryptocurrencies in Tax System Overhaul
20.8.2024
The Nigerian government is looking to impose taxes on the cryptocurrency industry. The Federal Inland Revenue Service (FIRS) plans to introduce a new tax law to achieve this. Despite being a major crypto market, Nigeria currently receives minimal tax income from crypto-related activities. The FIRS...
Latam Insights: El Salvador to Receive $1.61 Billion for Economic Overhaul Plan; Venezuelan Government Blocks Binance
18.8.2024
Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news from the past week. In this issue: El Salvador attracts $1.61 billion in investments for its economic overhaul plan, the Venezuelan government blocks Binance using a state-owned ISP, and...
Binance Hit With $87 Million Tax Bill in India
6.8.2024
Global crypto exchange Binance has received a goods and services tax (GST) bill of Rs 722 crore ($87 million) in India for non-compliance with the country’s tax regulations. This is the first instance of a cryptocurrency firm facing such scrutiny in India. A source claimed that Binance earned...
WazirX Co-Founder Nischal Shetty Says All Options Are on the Table for Fund Recovery
30.7.2024
Indian cryptocurrency exchange WazirX’s co-founder Nischal Shetty told CoinDesk that outreach efforts to different exchanges "are going to be crucial," as it remains open to "everything that is possible to help solve this situation."
SEC backs down on claiming SOL, ADA, MATIC and other tokens are securities in Binance suit
30.7.2024
The SEC has retracted its request for a court ruling to classify tokens such as Solana, Cardano, Polygon and others as securities
Study: Europe Leads in Global Crypto Transaction Volume; Binance Remains Most Used Exchange
20.7.2024
Europe stands out as the global leader, accounting for 37.32% of the total transactional value, according to a comprehensive analysis by Coinwire. Asia’s trading volumes primarily result from factors like high mobile penetration, a robust tech infrastructure, and growing institutional interest....
Okx Quits Nigerian Market, Users Urged to Withdraw Funds Before Deadline
18.7.2024
Okx, a leading cryptocurrency exchange, has announced its decision to discontinue services in Nigeria starting from August 16, 2024. The company cited unfavorable policies by the Nigerian government as the reason for this move. Okx said Nigerian users are advised to withdraw their funds from...
Binance Seeks to Reduce Stake in Operator of South Korean Crypto Exchange Gopax to 10%
13.7.2024
Binance is reportedly seeking to reduce its stake in the South Korean crypto exchange Gopax’s parent company, Streami, to approximately 10%. Binance’s mooted sale of the stake to Megazone comes just over a year after Binance acquired the controlling stake. The exchange needs to offload...
Kucoin to Implement 7.5% VAT on Transaction Fees for Nigerian Users
5.7.2024
Nigeria-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...
Crypto Exchange Binance Takes Action Against Account Misuse
30.6.2024
Cryptocurrency exchange Binance has announced measures to address the misuse of account features on its platform, aimed at preventing unfair advantages such as better fee rates. Enhanced monitoring, investigations, and user reporting channels are part of the initiative, with rewards offered...
Nigeria Rejects Claims Jailed Binance Executive Denied Quality Healthcare
22.6.2024
A Nigerian government official has rejected claims that the jailed Binance executive is being denied access to quality healthcare. In an apparent reference to the U.S. calls for Tigran Gambaryan’s release, the official stated that only the court, not the Nigerian government, can authorize such...
Indian Authority Fines Crypto Exchange Binance $2.25 Million for AML Violations
21.6.2024
India’s Financial Intelligence Unit has fined crypto exchange Binance $2.25 million (₹18.8 crore) for non-compliance with anti-money laundering (AML) regulations. Binance’s return to India is seen as challenging, especially after the government’s tax measures significantly reduced...
Crypto Exchanges Brace for EU’s MiCA Rules: Stablecoins Delisted by Uphold, Binance
20.6.2024
This month, several cryptocurrency exchanges are delisting certain stablecoins to align with the European Union’s Markets in Crypto-Assets (MiCA) regulations, which establish more stringent rules for fiat-backed and algorithmic stablecoins in the European Economic Area (EEA). Uphold...
Nigerian Court Dismisses Fugitive Binance Exec’s Rights Lawsuit
20.6.2024
A Nigerian court dismissed a human rights violation lawsuit filed by the fugitive Binance executive, Nadeem Anjarwalla, against law enforcement agencies. In his ruling, Judge Inyang Ekwo reportedly cited Anjarwalla’s lack of legal representation as one of the reasons for dismissing the lawsuit....
Binance CEO Sees 2024 as a ‘Landmark Year’ for Crypto
14.6.2024
Binance CEO Richard Teng described 2024 as a “landmark year” for the cryptocurrency industry in an interview with Bloomberg on Thursday. He cited enhanced regulatory clarity, broader mainstream acceptance, and the introduction of bitcoin spot exchange-traded funds (ETFs). “The...
Jailed Binance Executive: 108 Former US Government Workers Echo Calls for Biden Administration’s Intervention
7.6.2024
Over 100 former federal prosecutors and federal agents have asked the U.S. State Department to intensify its efforts to secure the release of Tigran Gambaryan, a U.S. citizen and Binance employee, from custody in Nigeria. In a letter addressed to Anthony Blinken, the 108 ex-government employees...
Binance reinstates crypto buys with Visa, Mastercard payments
6.6.2024
Binance has resumed allowing crypto purchases using Visa and Mastercard for its exchange users. Does this signal the end of Binance’s regulatory troubles?
Liquid Staking Derivatives See 110,000 ETH Inflow Over 12 Days
29.5.2024
While liquid staking protocols experienced a brief period of withdrawals, the past 12 days have seen liquid staking derivatives (LSDs) platforms gain 110,000 ether valued at $417.59 million. Swell Experiences Decline as Lido and Others See ETH Increases In the realm of decentralized finance (defi)...