The Reserve Bank of India’s (RBI) digital rupee will run on a government-mandated electronic wallet that will allow the central bank to be the middleman between merchants and customers, a top government official told the Press Trust of India. Fast facts The government official said the nation’s central bank digital currency (CBDC) is likely to…
An Indian auto parts dealer became the victim of a US$267,000 cryptocurrency scam after local police closed the case on what was determined to be a hoax call on Friday, local media reported. Fast facts 29-year-old victim Vinay Jain told police on Saturday that he had been robbed by the accused who had promised him…
North Korea has been funding its nuclear and ballistic missile programs with profits from cyberattacks on crypto exchanges, Reuters reported, citing a confidential United Nations (U.N.) report. Fast facts “According to a member state, DPRK cyberactors stole more than US$50 million between 2020 and mid-2021 from at least three cryptocurrency exchanges in North America, Europe…
Charitable donations on crypto philanthropy platform The Giving Block rose by 1,558% in 2021, the company announced in its annual report. Fast facts The Giving Block’s crypto donation volume increased in each quarter of 2021 and surpassed US$69 million in total donations, with an average of US$10,455 worth of crypto per donation. As cryptocurrency is…
A U.S. taxpayer fighting the Internal Revenue Service (IRS) over whether newly created tokens are taxable income announced Thursday that he has rejected the government’s offer of a refund in order to force the government to clarify its policy. Fast facts On Thursday, Joshua Jarrett shared on Twitter that the IRS had offered him a…
The two most popular NFT-related crimes, money laundering and wash trading, resulted in illicit profits of US$10 million in 2021, according to a report released Wednesday by blockchain forensics firm Chainalysis. Fast facts While the US$10 million of global NFT criminal activity is relatively small, Chainalysis reported a spike in the use of illicit funds…
A 30% tax doesn’t legalize cryptocurrencies but exchanges no longer worry about a ban, while investors would pay taxes at twice the rate of other asset gains.
Top blockchain and crypto news: New Delhi’s crypto give and take. Malice in Wonderland? Hong Kong’s selective spot ETF rules.
Crypto regulations are lagging the market’s needs, and the industry should help create order to gain greater public trust, writes Imgesu Cetin of Defy Trends.