Category: Exchanges

Colorado is now accepting tax payments in cryptocurrency, as Gov. Polis promised

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The American state of Colorado now accepts cryptocurrency for tax payments, Gov. Jared Polis announced on Monday. The option is already available on the state Department of Revenue website.   Colorado tax payments are accepted through the PayPal Cryptocurrency Hub with service fees of $1.00 plus 1.83% of the payment amount. Payments are accepted only from personal accounts in a single cryptocurrency. Businesses cannot pay their taxes via crypto yet. Payments will be effective on the day they are initiated, although it will take three to five days for the…

Crypto Exchange Huobi Global Enables Cryptocurrency Purchases With Fiat in Latin America

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The ideal long-term cryptocurrency investment?

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As the cryptocurrency market matures, more governments throughout the world introduce legislation to tax proceeds from crypto-related activities, with traders often triggering taxable events that can lead to future complications. Avoiding paying taxes is illegal, but there are legal ways to dodge triggering taxable events while hodling onto one’s cryptocurrency holdings: Roth IRAs. These are individual retirement accounts (IRAs) with a special type of tax-advantaged system. Using IRAs to avoid triggering taxable events with cryptocurrency investments is a strategy that has been considered for some time, with North American mining…

Eurocoinpay Partners With Mastercard to Launch One of the First Cryptocurrency Based Cards in Spain – Exchanges Bitcoin News

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Eurocoinpay, a Spanish cryptocurrency exchange, has closed a deal to offer one of the first cryptocurrency-based debit cards in Spain. The card, which is already available for customers of Eurocoinpay, will allow users to acquire products in more than 90 million establishments in the European Union and around the world. Eurocoinpay Aims to Introduce Crypto Payments in Spain Eurocoinpay, a cryptocurrency exchange based in Spain, and registered with the Bank of Spain, has partnered with Mastercard to become one of the first companies in the country to offer…

Enhanced KYC checks can be a win-win for crypto exchanges and consumers — here’s why

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Crypto is a fast-moving sector where new trends — decentralized finance and nonfungible tokens among them — accelerate in the blink of an eye. And as demand for digital assets grows, the need for regulation grows too.  Anticipating those regulations and having the systems in place for future compliance can position crypto exchanges as industry leaders. Those that do the bare minimum risk falling behind as customers turn to more trusted options. Exchanges, though, can adopt a substantial role in setting the regulatory tone by taking the initiative to go…

Crypto Exchange WazirX to Delist USDC in Boost for Binance’s Stablecoin

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BUSD, while technically the third largest stablecoin by market cap, is not nearly as popular as top tokens USDC and USDT; most of the asset sits dormant on Binance’s exchange. But Binance’s efforts to boost BUSD at the expense of USDC are paying early dividends for its adoption. Since Binance announced the transition, BUSD daily transactions have increased by an average of 15%, according to data website Nansen. Source

Indian exchange WazirX follows Binance in delisting USDC

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Major Indian cryptocurrency exchange WazirX has opted to delist the USD Coin (USDC) from its platform and convert the remaining balances into Binance-backed Binance USD (BUSD) stablecoin. WazirX officially announced on Monday that it has stopped deposits of USDC alongside other stablecoins like Pax Dollar (USDP) and TrueUSD (TUSD). According to the announcement, the platform will instead offer the BUSD stablecoin to enhance liquidity and capital efficiency for users. WazirX will implement BUSD auto-conversion for users’ existing balances of USDC, USDP and TUSD at a 1:1 ratio on Oct. 5,…

Decentralized exchange GMX suffers $565K price manipulation ‘exploit’

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Decentralized exchange (DEX) GMX has reportedly suffered a price manipulation exploit from an exploiter who managed to make off with around $565,000 from the AVAX/USD market. The unidentified exploiter is understood to have capitalized on GMX’s “minimal spread” and “zero price impact” features to pull off the exploit, which impacted GLP token holders who provided liquidity in the form of AVAX (the Avalanche token) to GMX. GMX confirmed the price manipulation exploit in a Sept. 18 post on Twitter, but stated that the AVAX/USD market would remain open despite imposing…

Infinity Exchange Raises $4.2 Million Funding For Development of DeFi 2.0

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In an effort to increase institutional adoption of decentralized finance (DeFi), DeFi platform Infinity Exchange recently announced a $4.2 million seed investment. Infinity Exchange is run by former Morgan Stanley executive Kevin Lepsoe, who left the traditional finance space to focus his attention on the opportunities that DeFi offers to investors. The founder said that institutional investment is a vital part of developing DeFi 2.0 in its next iteration in order to lay strong economic frameworks. Lepsoe believes that having access to a full rates product suite and fixed-to-floating rates…