Tag: News

Binance CEO Warns of ‘Profound Impacts’ on Crypto Industry if BUSD Is Ruled as a Security – Altcoins Bitcoin News

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Binance CEO Changpeng Zhao (CZ) has warned of “profound impacts” on the crypto industry if stablecoin Binance USD (BUSD) is ruled as a security. His warning followed an alleged lawsuit by the U.S. Securities and Exchange Commission (SEC) against Paxos, the issuer of Binance USD. Binance’s CEO on SEC Action Against Paxos and BUSD Following the news that the U.S. Securities and Exchange Commission (SEC) intends to take action against Paxos Trust Company over stablecoin Binance USD (BUSD), Binance CEO Changpeng Zhao (CZ) took to Twitter Monday to explain the…

Venom Blockchain Partners with DAO Maker to Incubate Web3 Startups Focused on Real-world Use Cases – Press release Bitcoin News

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press release PRESS RELEASE. Abu Dhabi, 13 February 2023 — Venom Foundation, the first Layer-1 blockchain licensed by the Abu Dhabi Global Market (ADGM), has announced a partnership with DAO Maker, a leading blockchain growth solutions provider known for their Launchpad, to incubate promising Web3 startups focused on delivering real-world use cases. DAO Maker will actively assist in the development of the Venom ecosystem and contribute to the success of projects within the Web3 space. With DAO Maker’s support, Venom is confident that it will enable developers to make valuable…

Bakkt Shifts Focus to B2B Technology Solutions, Plans to Discontinue Consumer App – Bitcoin News

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Bakkt Holdings Inc. announced Monday that it will solely focus on business-to-business technology solutions and discontinue its consumer application. The company stated that the app will officially be discontinued on March 16, 2023, and app users will continue to have access to all of their assets. Bakkt Consumer App to Sunset, Loyalty Points Still Accessible Through Other Channels Following Bakkt’s pending acquisition of Apex Crypto from Apex Fintech Solutions, the company has announced it is discontinuing its consumer business venture. Bakkt’s consumer platform will shift its focus to provide businesses…

MATIC Drops by 10%, ATOM Hits 2-Week Low – Market Updates Bitcoin News

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Polygon fell by over 10% on Feb. 13, as a red wave swept through cryptocurrency markets during Monday’s session. Volatility was high ahead of Tuesday’s U.S. consumer price index release, and with the depegging of BUSD. Cosmos also traded lower to start the week, hitting a 14-day low. Polygon (MATIC) Polygon (MATIC) dropped by as much as 10% to start the week, as the global cryptocurrency market cap plunged on Monday. Following a high of $1.29 on Sunday, MATIC/USD slipped to an intraday low of $1.16 earlier today. Today’s move…

Paxos ordered to Halt U.S. Dollar-Pegged Binance Stablecoin BUSDT- Has the SEC War on Crypto Begun? – Blockchain News, Opinion, TV and Jobs

By Marcus Sotiriou, Market Analyst at the publicly listed digital asset broker GlobalBlock (TSXV:BLOK).  Bitcoin is currently testing $21,500, a key support level, whilst US regulators hone in on crypto firms. The SEC is suing Paxos, the issuer of BUSD, and has labelled BUSD as an “unregistered security”. Paxos has been ordered by the New York Department of Financial Services (who regulate Paxos) to stop issuing BUSD. Binance CEO, CZ, has announced that they will continue to support Binance USD, but they “foresee users migrating to other stablecoins over time,” and they will…

Brazilians Will Be Able to Pay Taxes With Crypto – News Bitcoin News

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Brazilians will now be able to pay part of their state taxes using cryptocurrencies. Banco do Brazil, a mixed ownership bank, is launching the option of paying a set of taxes with crypto, using Bitfy, a Brazilian cryptocurrency startup, as a payment processor, exchanging the cryptocurrencies paid for Brazilian reals on the fly. Brazilians Will Have the Opportunity of Paying Taxes With Crypto Using Banco Do Brazil Cryptocurrencies are making inroads when it comes to their usability in Brazil. Banco do Brazil, one of the oldest banks in Brazil, and…

Hackers Attack Domain Registrar Namecheap; Flood of DHL and Metamask Phishing Emails Follow – Bitcoin News

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On Sunday, Feb. 12, 2023, the domain registrar Namecheap’s email account was compromised by hackers. Subsequently, a large number of individuals received phishing emails claiming to be from Metamask and DHL. These emails originated from the email platform Sendgrid, a service used by Namecheap for marketing correspondence. Namecheap Confirms Email Account Compromise and Disables Sendgrid Services Multiple reports indicate that Namecheap was breached on Sunday and hackers leveraged the company’s email account through the Sendgrid service. Namecheap CEO Richard Kirkendall confirmed the compromise and said the firm has disabled Sendgrid…

ETH Hits 1-Month Low, Falling Under $1,500 – Market Updates Bitcoin News

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Ethereum started the week trading below $1,500, as it was reported that Paxos will no longer mint BUSD. This has led to a depegging of the stablecoin, and comes ahead of the upcoming U.S. inflation report, which is also adding to today’s volatility. Bitcoin edged lower on Feb. 13, as prices remain near a three-and-a-half-week low. Bitcoin Bitcoin (BTC) continued to trade close to a multi-week low on Monday, as market sentiment remained bearish ahead of the upcoming U.S. inflation report. Following a high of $22,060.99 on Sunday, BTC/USD dropped…

Paxos Receives Wells Notice from SEC, NYDFS Orders Issuer to Stop Minting BUSD – Bitcoin News

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According to a report published on Feb. 12, 2023, the New York-based financial institution and technology company, Paxos, has received a Wells Notice from the U.S. Securities and Exchange Commission (SEC) regarding alleged violations of investor protection laws. Paxos revealed the following day, that it would no longer mint BUSD and it was ending its relationship with the Binance-branded stablecoin in Feb. 2024. Report Claims SEC Plans to Sue Paxos for Alleged Investor Protection Violations, Firm Directed to Stop Minting BUSD Sources cited by the Wall Street Journal (WSJ) say…

Income Tax Applies to Crypto Trading in Bosnia, Tax Administration Says – Taxes Bitcoin News

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Individuals are expected to pay income tax on gains from cryptocurrency trading, the tax authority of Bosnia has determined. In the absence of dedicated regulations, the federal government in Sarajevo has set up a working group to assess various risks associated with digital assets. Income Tax Is Due on Profits From Crypto Trades, Bosnia Tax Officials Tell Finance Ministry The taxation of crypto assets is not explicitly prescribed by Bosnia’s current legislation but the country’s tax authority has addressed the matter in communication with the finance ministry. The latter is…