The Capital Markets (Amendment) Bill, 2022 would allow for the taxation of crypto exchanges, digital wallets and transactions. Crypto investors in Kenya would have to pay capital gains tax to the Kenya Revenue Authority when they sell or use their crypto in a transaction, and the bill would also require investors to inform the Capital Markets Authority – the government’s financial regulator – on the details of their crypto ownership. Source
Nexo is being sued by a group of investors for allegedly blocking 107 million British pounds ($126 million) worth of crypto in 2020-21, according to a report. Source
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The Singapore Police Force has warned investors to be weary of fake websites claiming they can help them recover funds from the now-bankrupt cryptocurrency exchange FTX. On Nov. 19, the police issued a warning about a website claiming to be hosted by the United States Department of Justice that prompts FTX users to log in with their account credentials, local news agency Channel News Asia reported. The website, which was not identified, targets local investors affected by the FTX collapse, claiming that customers “would be able to withdraw their funds…
Three high-ranking executives of failed cryptocurrency exchange FTX have reportedly been dismissed. Among them is one of the co-founders of what was one of the industry’s largest trading platforms, which is currently in bankruptcy proceedings in the U.S. court system. 3 Members of FTX Management Lose Their Jobs, Spokesperson Quoted Troubled cryptocurrency exchange FTX has fired three of its top executives, according to a report by the Wall Street Journal on Friday, citing an FTX spokeswoman. One of the high-ranking managers that has been released from duties is co-founder Gary…
TRON, the native cryptocurrency of the blockchain network bearing the same name, continues to struggle as it fails to break free from its bearish momentum. According to tracking from Coingecko, the 16th largest cryptocurrency in terms of market capitalization is trading at $0.050 at the time of this writing. For the past seven days, the altcoin has dropped by almost 10% while over the last two weeks its value has declined by 20.2%. On a month-to-date gauge, the digital asset has dumped 17.8% of its spot trading price, painting its…
London-based investment manager Man Group Plc is preparing to launch a cryptocurrency hedge fund, signaling continued investor appetite for digital assets in the wake of FTX’s monumental collapse earlier this month. Bloomberg reported on Nov. 18 that Man Group is preparing to launch its crypto-focused hedge fund through its computer-led trading unit AHL. Citing private sources, Bloomberg disclosed that the new hedge fund could be ready by the end of the year. A spokesperson for Man Group declined to comment on the matter when asked by Cointelegraph. Man Group already…
Ripple has turned its attention to countries outside the U.S. due to its ongoing lawsuit with the U.S. Securities and Exchange Commission. Source
The Hong Kong-based company was once Asia’s largest Bitcoin ATM player. Source
CryptoX – Cryptocurrency Analysis and News Portal Faruk Fatih Öze, the founder of Thodex, one of Turkey’s largest crypto exchanges, will be extradited to Turkey after being arrested in Albania in August to face charges of fraud and running a criminal organization, state media aa.com reported on Friday. Original Source The post Turkish Crypto Exchange Founder Faruk to Be Extradited to Turkey to Face Charges of Fraud and Founding a Criminal Organization: Report appeared first on CryptoX. CryptoX Portal