Women in India start to plug into cryptocurrency trading
Crypto exchanges in India say the number of female investors isn’t huge, but it is growing even as prices slide and new taxes eat into revenue.
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Cryptocurrency lobby group seeks to weigh in on SEC vs Ripple’s XRP lawsuit
Cryptocurrency advocacy group Chamber of Digital Commerce (CDC) has sought to be an amicus curiae (Latin for friend of court) in the lawsuit between the Securities and Exchange Commission and Ripple Labs. See related article: Ripple opposes SEC request to seal expert witness identities in XRP lawsuit Fast facts CDC Wednesday filed several documents in…
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Hacks, losses in cryptocurrency offer vast opportunity for insurers
Cryptocurrency-related insurance is a vast untapped market, with less than 1% of crypto investments covered amid hacks and losses in the industry running into the billions of dollars, Cointelegraph reported, citing an executive from decentralized insurance protocol InsurAce. See related article: DeFi insurance: Why buy coverage for your digital assets? Fast facts Dan Thomson, the…
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Argentine province Mendoza to accept cryptocurrency as payment for taxes
The western Argentine province of Mendoza — the fifth most populous in the country — now accepts cryptocurrency as a payment option for taxes, the Mendoza Tax Administration (ATM) announced on Saturday. See related article: El Salvador’s Bitcoin adoption, one week on Fast facts Mendoza’s roughly 2 million residents will now be able to pay…
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Who fared worse in cryptocurrency slump: criminals or legitimate users?
Report by Chainalysis says both use cases fell in dollar terms in first half of year and while legitimate usage by value far exceeds criminal, illicit activities fell by a much narrower margin.The report attempts to explain why.
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OSL cryptocurrency exchange cuts 15% of its staff
Hong Kong-based cryptocurrency exchange OSL is reportedly laying off 40 to 60 employees, or about 15% of its workforce, to join a growing list of digital asset companies in scaling down operations amid tanking cryptocurrency prices. See related article: Coinbase, biggest US crypto exchange, cuts workforce by 18% Fast facts The job cuts are not…
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Chinese police say cryptocurrency being used to launder drug money
Cryptocurrencies were listed for the first time as a means to launder and transfer money related to the drug trade by the China Ministry of Public Security on Thursday. See related article: China explores ways to classify cryptocurrency crimes Fast facts See related article: The SEC is building a SWAT team to combat crypto crime
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Cryptocurrency is worthless: ECB Christine Lagarde
European Central Bank (ECB) President Christine Lagarde said cryptocurrencies are “worth nothing” on a Dutch television program aired Sunday, calling for greater regulation over what she described as “highly speculative assets.” See related article: EU to introduce bill next year to plan a digital euro Fast facts “My very humble assessment is that [cryptocurrency] is…
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Australia’s taxman starts knocking on cryptocurrency investors’ doors
The Australian Taxation Office (ATO) warned the country’s cryptocurrency investors to appropriately report any capital gains or losses from digital assets — including non-fungible tokens (NFTs) — in an announcement on Sunday ahead of the upcoming tax season, starting July 1. See related article: Australian Tax Office warns: taxpayers on the hook for crypto tax…
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Pakistan takes a fresh look at cryptocurrency
Pakistan’s federal government has formed three subcommittees to explore the future of cryptocurrencies and related services, local media report. See related article: Pakistani central bank echoes RBI’s concerns over crypto Fast facts The first panel is chaired by the law secretary with the State Bank of Pakistan (SBP), with the Federal Investigation Agency (FIA) and…