Day: June 10, 2023

Nigeria to tax crypto, digital assets 10% on capital gains — Experts react

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On the eve of his departure from office on May 28, former Nigerian President Muhammadu Buhari signed the Finance Act, 2023, into law.  The act introduces a series of tax reforms aimed at modernizing the country’s fiscal framework. Among its provisions was the introduction of a 10% tax on gains from the disposal of digital assets, including cryptocurrencies. The comprehensive legislation seeks to enhance fiscal transparency, boost revenue generation and promote economic growth. Recognizing the increasing prominence of digital assets, the act aims to impose a tax on cryptocurrencies. By doing…

How crypto education, regulation, and token utility will shape the future of money

Blockchain and cryptocurrency technology has taken the financial world by storm, carrying with it the risks and rewards of innovation and investment. It is natural to feel left out, it is also important to educate oneself on the risks involved, the utilities of each potential token investment and the regulatory frameworks designed to prevent fraud, scans and illegal activities. Let’s explore how crypto education platforms, token utilities, and crypto regulations can help protect investors while creating a more secure and efficient monetary system in the future. Crypto education In 2022,…

Ethereum’s Buterin and Polygon’s Nailwal donate $100m for COVID-19 research

Vitalik Buterin, the co-founder of Ethereum, has teamed up with Sandeep Nailwal, the co-founder of Polygon, to direct $100 million toward COVID-19 research and the development of medical infrastructure in India. This philanthropic effort aims to address the long-term impacts of the pandemic and bolster healthcare systems. Buterin is making a significant contribution to address pressing global challenges. This time, Buterin has joined forces with Sandeep Nailwal, the co-founder of Polygon, to direct $100 million towards COVID-19 research and medical infrastructure development, focusing on tackling “long COVID” and enhancing healthcare…

Community warned of fraudsters exploiting vulnerabilities in сrypto Twitter

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied A disturbing trend has emerged recently, as swindlers have confiscated at least eight Twitter accounts associated with cryptocurrencies. The syndicate has obtained approximately $700,000 by employing intricate phishing maneuvers via compromised accounts. Once gaining control, they promptly dispatch deceitful tweets containing phishing schemes to the followers of the compromised accounts. Over the past few weeks we have seen 8+ account takeovers connected to the same group of scammers as evident by how their addresses are linked…

Ooki DAO to shut down after ‘precedent setting’ court battle with CFTC

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A U.S. District Judge has entered a default judgment order that requires Decentralized Organization Ooki DAO to permanently shut down and pay a civil monetary penalty of $643,542. Today the CFTC’s Division of Enforcement Director Ian McGinley released a statement on the Ooki DAO litigation victory. Learn more: https://t.co/MInNeKLeH5 — CFTC (@CFTC) June 9, 2023 The Commodity Futures Trading Commission initially filed a lawsuit against Ooki DAO in September 2022, accusing the DAO of illegally offering retail margin and leverage trading services, and “unlawfully acting” as a futures commission merchant.…

Bybit join forces with luxury watchmaker, Franck Muller, in a co-branding deal

Bybit, the world’s third most visited crypto exchange based in Dubai, has announced a collaboration with Franck Muller, a Swiss luxury watch manufacturer to form a co-branding partnership. Cutting-edge technology meets timeless craftsmanship The partnership aims to showcase the synergy between the two brands, combining Bybit’s technology with Frank Muller’s craftsmanship.  Together, they would be launching a co-branded card that is designed to reflect the captivating spirits of the two companies and would also offer exclusive benefits to their valued customers.  This card would allow users to make payments on…

How SEC chair Gary Gensler moved from crypto advisor to antagonist

From earlier, seemingly crypto-supportive stances to his current hardline approach, Gary Gensler’s journey traverses his dynamic narratives, confrontations with crypto giants, and the rumors that abound, offering a unique perspective. Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial. It’s almost reminiscent of a summer blockbuster – the good guy turns bad, keeps the audience on their toes, and leaves everyone wondering about the climax.  The protagonist of our tale, or antagonist depending on who you…