Tax

The year 2024 saw an alarming rise in cryptocurrency hacking incidents, with stolen funds surging to a staggering $2.2 billion, marking a 21.07% increase from the $1.8 billion stolen in 2023. This report by Chainalysis highlights the persistent vulnerabilities within the crypto ecosystem, even as it matures. Key Insights from…

Cryptocurrency has been heralded as the future of finance, but as its adoption grows, so does its allure to cybercriminals. According to a recent report by blockchain analytics firm Chainalysis, losses from crypto-related hacks have climbed 21% in 2024, reaching a staggering $2.2 billion. This marks the fourth consecutive year…

Coinbase Legal Chief Responds to $1B Lawsuit Over wBTC Delisting: What You Need to Know In a recent legal battle, Coinbase is facing a significant $1 billion lawsuit from BiT Global Digital, accusing the exchange of anticompetitive practices tied to the delisting of Wrapped Bitcoin (wBTC) in November. This lawsuit…

Ukraine is making strides toward the legalization of cryptocurrencies, with a draft bill expected to be finalized by early 2025. This move, led by Daniil Getmantsev, head of the tax committee of the Verkhovna Rada, aims to regulate digital assets within a structured framework while avoiding tax incentives. Key Highlights…

MicroStrategy, a pioneering corporate Bitcoin holder, continues to cement its position as a major player in the crypto space. Between November 25 and December 1, the company announced it acquired 15,400 BTC for $1.5 billion, funded through a stock sale under its at-the-market (ATM) equity program. The Numbers Behind the…

The cryptocurrency investment landscape in the United States is on the brink of transformation. Asset manager Hashdexis taking a significant step toward launching the Nasdaq Crypto Index US ETF, a diversified fund designed to make crypto investing more accessible. With its second amended S-1 filing submitted to the Securities and…

Bitcoin’s meteoric rise continues as the price hit a new all-time high of $94,374 on November 20, defying skeptics and pushing market optimism to new heights. However, signs of a potential sell-off are emerging as dormant Bitcoin holdings become active. Bitcoin Price Action: A Battle for $94K Bitcoin demonstrated resilience…

Bitget Re-enters the UK Market with FCA-Approved Compliance Updates In a strategic move to adapt to the UK’s evolving regulatory environment, Bitget, a leading cryptocurrency exchange, has relaunched its platform in the United Kingdom after making key updates to comply with the Financial Conduct Authority’s (FCA) Financial Promotions (FinProm) regime.…

In a first-of-its-kind move in the United Kingdom, a UK-based pension fund has added Bitcoin to its portfolio, guided by a 3% allocation recommendation from investment consulting firm Cartwright. The decision marks a significant milestone, highlighting the increasing appeal of cryptocurrency among traditionally conservative institutions. Strategic Vision Behind the Move…

Crypto platforms in Canada have received an additional deadline extension to comply with the country’s evolving stablecoin regulations, a move highlighting the challenges and opportunities facing the industry as it seeks to align with new compliance standards. Background on Stablecoin Regulations in Canada In February 2023, the Canadian Securities Administrators…