Category: Exchanges

IRS Postpones Implementation of New Tax Rules for Crypto Asset Holders Interacting With Centralized Exchanges

boss

The Internal Revenue Service (IRS) is suspending the implementation of new tax rules that will affect investors who hold crypto assets in centralized exchanges. On July 9th, 2024, the Treasury Department and the IRS published the final rules for determining the order of selling crypto assets held in centralized finance (CeFi) platforms. Investors should choose an accounting method such as the Highest-In, First-Out (HIFO) or the Specific Identification (Spec ID) if their assets are held with a CeFi broker. Otherwise, the First-In, First-Out (FIFO) applies, which means that the earliest…

Binance Reaches Milestone in Brazil, Becomes First Exchange With Securities Brokerage Capabilities

boss

Binance has become a pioneering cryptocurrency exchange in Brazil following the approval of its acquisition of Sim;paul Investimentos, a securities brokerage platform. With this acquisition, Binance can now offer a full range of investment options, including securities, stocks, and funds for Brazilian customers. Binance Gets Greenlight For Sim;paul Investimentos Acquisition in Brazil Binance, one of […] Source

Launch of the HTX DAO Forum: A New Dawn for Exchange Governance

boss

PRESS RELEASE. In December 2024, HTX DAO announced the official launch of its governance forum, ushering in a new era of innovation for global crypto community governance. This move represents more than just a new feature; it also marked a historic step for exchanges, transitioning from traditional centralized management towards decentralized autonomous governance model. *Forum […] Source

Volumes on Decentralized Exchanges Soar to an All-Time High of $478,838,000,000 in December: On-Chain Data

boss

Monthly trading volume on decentralized exchanges (DEXes) has reached new all-time highs, according to the latest on-chain data. According to blockchain data aggregator DefiLlama, DEX volume for December was $422 billion, the highest ever on record. The month of November was also an all-time high, according to DefiLlama. Source: DefiLlama Uniswap, Ethereum’s (ETH) biggest DEX, recorded the most amount of volume while Raydium (RAY), the largest DEX on Solana, placed second. Most other chains saw an increase in volume, and DeFI as a sector is growing, perhaps getting a boost…

Expert Insight: Cryptocurrency Mining Accounts for Nearly 1% of Russia’s Energy Resources

boss

Alexey Zhikharev, director of the Renewable Energy Development Association (REDA), revealed that cryptocurrency mining accounts for almost 1% of Russia’s energy consumption. He stated that as the industry grows, miners will increasingly employ renewable energy sources. Russia’s Cryptocurrency Mining Energy Expenditure Nears 1% of the Nation’s Total The growth in Russia’s cryptocurrency mining industry energy […] Source

Malaysia Cracks Down on Unregistered Crypto Exchanges: Bybit Ordered to Halt Operations

boss

Malaysia has ordered Bybit to halt its crypto exchange operations in the country, as regulators crack down on unregistered platforms. Bybit Faces Enforcement in Malaysia Over Unregistered Crypto Exchange Operations The Securities Commission Malaysia (SC) announced on Dec. 27 that it has taken enforcement measures against Bybit Technology Ltd. and its CEO, Ben Zhou, citing […] Source

Former CEO of Crypto Exchange Bithumb Sentenced to Two Years in Prison: Report

boss

Former Bithumb CEO Lee Sang-jun has reportedly been sentenced to prison after being found guilty of receiving cash and gifts to engage in a fraudulent token listing scheme.  Local Korean news outlet The Hankyoreh reports that the Seoul Southern District Court has sentenced the 55-year-old to two years behind bars and ordered him to pay a fine of 52 million won ($35,367) for receiving money and lavish items as bribes from businessman Kang Jong-hyun. Kang allegedly shelled out 3 billion won (roughly $2 million) in cash and over $272,000 worth…

Crypto Exchange Token Defies Digital Asset Market Downtick and Soars by Nearly 30% Amid New Merger Announcement

boss

A crypto exchange token is defying this week’s marketwide downtrend, skyrocketing by nearly 30%. The Bitget Token (BGB) is trading at $7.37 at time of writing and is up nearly 28% in the past 24 hours and more than 70% in the past week. BGB’s gains partially materialized amid news that Bitget plans to merge the token with its other native asset, the Bitget Wallet Token (BWB). BWB, the 638th-ranked crypto asset by market cap, is down more than 4% in the past day but up nearly 45% in the…

Floki Memecoin Project in Plans To Launch Exchange-Traded Product for European Investors in Q1 of 2025

boss

The development team behind dog-themed meme asset Floki (FLOKI) is announcing a plan to launch a new exchange-traded product (ETP). In a new thread on the social media platform X, the project says it has been working closely with a respected asset manager to create a FLOKI-based ETP for European inventors, set to launch in Q1 of next year. “We’ve been actively working with a respected asset manager and an ETP issuer to launch a Floki ETP for quite a while now. After months of due diligence and painstaking effort,…