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Cryptocurrency exchanges in Thailand alert customers about the tax implications of holding digital assets.  Thai tax authorities plan to make changes to crypto taxes in the country this year.  Persons categorized as crypto taxpayers include crypto traders, miners, and people who earn in crypto. Cryptocurrency exchanges in Thailand started informing customers about tax implications that may arise from their cryptocurrency trading activities in the country.  This development follows a slew of recent tax policies introduced by the Thai government to draw revenue from the space. Previously, the tax authorities in the region announced upcoming changes that will see crypto revenue subjected to certain taxes.  Amidst the development, local exchanges based in Thailand have begun alerting customers about the changes. In particular, the cryptocurrency exchange Bitkub exchange has updated its website’s FAQ section to reflect these changes.  ...

Despite Bitcoin’s recent dip, $SEI displays resilience, establishing itself as a leader in the Layer 1 ecosystem, showcasing strength among altcoins. The Sei token has surged over 1,500% since its launch in August 2023, driven by a substantial upgrade to the L1 network, contributing to its significant growth. The introduction of the version 2 upgrade, incorporating Ethereum Virtual Machine (EVM) smart contract capabilities, aims to enhance the network’s speed. Moreover, Sei’s blockchain, with its focus on decentralized exchange (DEX) trading, positions itself as a potential rival to centralized exchanges (CEXs). By utilizing Cosmos SDK alongside Tendermint Core, Sei’s blockchain has established a competitive advantage. Sei Coin’s Impact on Scalability and User Experience in Sei Blockchain Sei operates as a Layer 1 network facilitating digital asset exchanges, functioning as a fully open-source public blockchain. Its core consensus mechanism and transact...

Congresswoman Maxine Waters wrote a letter to Meta executives concerning their re-entry into the crypto space. The letter highlighted the firm’s five trademark applications regarding crypto services and blockchain technology. Considering Meta’s previous troubles in the space, Waters asked for more clarity regarding their intention. In a recent letter addressed to the technology conglomerate Meta’s CEO Mark Zuckerberg and COO Javier Olivan, Congresswoman Maxine Waters questioned the company’s intention regarding its potential re-entry into the crypto space. The letter highlighted the giant’s five trademark applications submitted to the United States Patent and Trademark Office (USPTO), concerning blockchain technology and crypto services. The Congresswoman’s concerns connect with Meta’s previous abandonment of its plans to establish crypto services in 2022. In mid-2019, considering regulatory opposition, the company left its plan to launch the crypto-based...

After a recent exploit , the Socket blockchain protocol has recovered 1032 Ethereum (ETH). In a recent post on Jan. 23, the Socket team stated that they could recover 1,032 ETH (2.3 million at current rates) after an exploit in the Bungee bridge protocol last week. FUND RECOVERY UPDATE We have successfully recovered 1032 ETH from the funds involved in the incident on 16th Jan. We will release a recovery & distribution plan for users soon. Big shoutout to everyone who helped us from Seal911, Slowmist, Hexagate, & others:@samczsun… — Socket (@SocketDotTech) January 23, 2024 “We have successfully recovered 1,032 ETH from the funds involved in the incident on 16th Jan.” Socket team Socket also promised to present a recover y and distribution plan for users. Details of the restoration remain unknown. At the time of writing, Socket users have also not commented on recovering stolen assets. The project team urged community members to beware of clicking on unofficial ...

Crypto traders are always on the hunt for the  best cryptocurrencies to buy  on any given day – we list some high-potential coins in this post. Exploring investment opportunities in the crypto market reveals promising options such as Maker, Optimism, and Mina. These tokens have demonstrated strong performance, making them favorable choices for current investment. Their positive market trends and potential for significant growth make them standout candidates in the current cryptocurrency market. Best Crypto to Buy Now This article captures the best crypto to buy now because investors seek to make informed decisions, which is essential. Tokens like Mantle, Render, and Gnosis stand out as promising choices with solid potential for growth. These coins exhibit robust liquidity, positive price trends, and compelling use cases. Furthermore, Bitcoin Minetrix is currently in its presale stage, providing investors with a cost-effective opportunity to capitalize on the expected ...

FTX’s sister company, Alameda Research, willingly dismissed litigation action against Digital Currency Group’s Grayscale Investments shortly after spot BTC ETF approval. Court filings from Jan. 22 showed that Alameda opted out of suing Grayscale, its CEO Michael Sonnenshein, its parent company Digital Currency Group’s (DCG), and founder Barry Silbert over a ban on Grayscale’s Bitcoin Trust (GBTC) redemptions. The lawsuit submitted in March last year alleged that Grayscale implemented a self-dealing and unfair regulation ban that withheld over $9 billion in value from FTX’s bankrupt estate. CEO John J. Ray III, FTX’s new boss following Sam Bankman-Fried’s resignation, said the suit sought injunctive relief at the time amid an amalgamation of assets earmarked for creditors and operational expenses. You might also like: Sam Bankman-Fried’s parents seeking dismissal of FTX lawsuit A Grayscale representative who confirmed the news added that Alameda’s decision to withdra...

After a proof-of-concept period in 2022, three companies  – Verida, cheqd , and FinClusive – are nearing the launch of their new know-your-customer (KYC) and know-your-business (KYB) digital solution, according to the latest information shared with Finbold. Their new app is intended to provide a simplified and streamlined onboarding process by enabling firms and governments to use a ready-made system for customer verification.  The solution is made to ensure both up-to-date compliance and a high degree of data security while helping users avoid going through a lengthy KYC process whenever they attempt to access a new platform. The goals of the partnership The KYC solution is explicitly designed to solve a string of issues emerging from modern best practices in the field – high costs, the difficulty of ensuring compliance, and time inefficiencies in the process itself. Cryptocurrency Donald Trump warns CBDCs ‘can rob your money’ ...

The legal battle between the Securities Exchange Commission (SEC) and blockchain firm Ripple is persisting, with both sides currently tussling over financial statements. Specifically, the regulator had previously filed a motion to compel Ripple to disclose its financial statements for 2022-2023 and post-complaint contracts. In the latest development, Ripple has countered the SEC’s demand by filing a motion challenging it. Defense attorney James Filan, in a post on X (formerly Twitter) on January 19, revealed that Ripple deemed the motion ‘ untimely .’  #XRPCommunity #SECGov v. #Ripple #XRP Ripple has filed its Response Opposing the SEC's Motion to Compel.https://t.co/nICsqSxuXA — James K. Filan (@FilanLaw) January 19, 2024 The court filing disclosed that Ripple argues the SEC’s requests are untimely , emphasizing that the regulatory body had ample opportunities during fact discovery to pursue the requested information. Cryptocur...

A widely followed crypto analyst and trader is staying bullish on one altcoin that’s been red hot for months. The analyst pseudonymously known as Altcoin Sherpa tells his 205,800 followers on the social media platform X that Web3 project Internet Computer (ICP) still has more upside potential. “ICP: another coin that looks interesting to me setup-wise, bullish demand zone plus 200-day EMA (exponential moving average) on the four-hour that hasn’t been tested in a while. I am considering longing this one.” Source: Altcoin Sherpa/X Looking at his chart, the trader suggests ICP could bounce if it holds the 200-day EMA as support around the key level of $11.25. ICP is trading for $11.14 at time of writing up more than 270% since its $2.99 close on October 19th. Next up, the trader predicts that decentralized oracle provider Chainlink (LINK) will trade around its current price level in a consolidation phase before moving another leg up. “LINK is co...

Donald Trump , the former US president and sexual abuser who has been indicted on felony counts of falsifying business records, mishandling of classified documents, and conspiracy to overturn the 2020 election, has dabbled in NFT s before but is now offering Bitcoin Ordinals as a bonus to save his failing previous collection .  Donald Trump sells the clothes off his back in latest NFT promotion Trump previously promoted this collection by offering dinners at his golf club or pieces of the suit he was arrested in, but now if you’re one of the first 100 people willing to purchase 100 cards at $99 each using Wrapped Ethereum, then you can receive a “ONE-OF-ONE BITCOIN ORDINAL DIGITAL TRADING CARD.” NFT INT LLC, the firm that licenses Trump’s likeness for these NFTs, needed to come up with an alternative way to promote the ‘MugShot Edition’ collection because uptake has been slow. The collection was supposed to contain 100,000 cards, but OpenSea s...

Bitcoin (BTC) is currently undergoing a sell-off, breaking below the $42,000 support level, prompting uncertainty about how low the asset may go. This sell-off became more evident in the last 24 hours, with Bitcoin experiencing an outflow of approximately $32.02 billion from its market cap, which stood at $806.72 billion at the time of writing. The downward trend follows Bitcoin’s inability to sustain the $49,000 level achieved after the spot exchange-traded fund (ETF) approval in the United States. Bitcoin one-day market cap chart. Source: CoinMarketcap Bitcoin profit-taking opportunity Despite the prevailing bearish sentiments, TradingShot , a cryptocurrency trading expert, identified potential profit-taking opportunities for investors in various Bitcoin cycles in a TradingView post on January 18. Cryptocurrency The ‘Newborn Nine’ Bitcoin ETFs own nearly $3 billion in BTC Cryptocurrency Nuant becomes a member of the OpenWealth Associa...

Reddit, a prominent social media platform, is planning its IPO in March, intending to sell about 10% of its shares following its $10 billion valuation in 2021. The platform’s recent foray into nonfungible tokens (NFTs) has been a key highlight, attracting significant user engagement. Despite this success, there’s a diverse range of opinions among Reddit users regarding the platform’s cryptocurrency ventures. While some users appreciate the innovation, others are concerned about potential changes in the platform’s direction post-IPO, particularly regarding its cryptocurrency and NFT Features . Exclusive: Reddit seeks to launch IPO in March https://t.co/7bdSXlpbob pic.twitter.com/kQCIXaQob2 — Reuters (@Reuters) January 18, 2024 You might also like: New Web3 games to watch in 2024 Reddit’s foray into cryptocurrencies and NFTs expanded its reach, as its NFTs were auctioned and attracted attention from prominent individuals and businesses ...

Former President Donald Trump promised to ban the creation of a central bank digital currency (CBDC) if he regains office. “This would be a dangerous threat to freedom, and I will stop it from coming to America,” said Trump, the front-runner in the Republican leadership race. Donald Trump Fears Feds Will Take Absolute Control With A CBDC Speaking during a campaign appearance in New Hampshire, Trump elaborated by saying that “such a currency would give a federal government absolute control over your money. They could take your money, and you wouldn’t even know it was gone. I will never allow the creation of a central bank digital currency.” JUST IN: 🇺🇸 Donald Trump says "As your president, I will never allow the creation of a Central Bank Digital Currency. Such a currency would give our federal government absolute control over your money." pic.twitter.com/lSE2AGYgOm — Bitcoin Magazine (@BitcoinMagazine) January 18, 2024 Trump ...

In a significant move impacting cryptocurrency investment vehicles, VanEck announced on Wednesday its decision to liquidate the VanEck Bitcoin Strategy ETF. The decision announced in a Jan. 16 press release, was influenced by a comprehensive Analysis of the fund’s performance, liquidity, assets under management, and investor interest, marks a notable shift in the ETF landscape. According to VanEck, shareholders holding positions in the VanEck Bitcoin Strategy ETF (XBTF) have until the market close on Jan. 30 to sell shares. The ETF, which has recently experienced a 1.4% decline, will be officially delisted from the market after this deadline. This move comes amidst fluctuating fortunes in the cryptocurrency market, with front-month Bitcoin (BTC) futures also witnessing a 1.6% drop, further signaling cautious investor sentiment. You might also like: VanEck to support Bitcoin developers using ETF profits The ETF, trading with an average volume of approximately 37,000...

The European Union has extended its anti-money laundering (AML) and counter-terrorist financing (CTF) guidelines to include crypto service providers In a Jan. 16 press release the European Banking Authority has addressed needs to protect the region’s defense against financial crimes in the crypto sector. The European Banking Authority (EBA), the EU’s primary banking regulatory agency, updated the guidelines specifically to assist crypto asset service providers (CASPs) in identifying and mitigating risks associated with money laundering and terrorist financing. According to the financial watchdog, such risks stem from threats to customers to channels through which these products are delivered, as well as the geographical locations of crypto operations and the EU’s need to protect consumers. Key among the new measures is the directive for crypto firms to enhance their crime-fighting tools, potentially incorporating blockchain analytics to more effectively monitor and report susp...

Ethereum (ETH) has reached yet another remarkable achievement, dominating decentralized finances (DeFi) total value locked (TVL) by 80%. Meanwhile, its native token, Ether, aims at the $3,000 price zone, threatening a short squeeze soon. Remarkably, the total value locked on Ethereum’s first layer surged 231% in the last 24 hours to $100.31 billion. This sums up to recent increases, resulting in 255% and 283% changes in the last seven and 30 days, respectively. Total value locked on the top 5 DeFi chains. Source: DefiLlama It is worth mentioning that the above data, retrieved by Finbold from DefiLlama, does not include Ethereum’s second layers. For example, Arbitrum (ARB) has its own $2.62 billion in total value locked , ranking fourth among the DeFi chains. Ethereum’s 80% dominance on DeFi by total value locked Interestingly, Tron (TRX) holds the second place with over 13 times less TVL than Ethereum, with $8.063 billion. Cryptocurrency $100 billion wiped from ...

Tether says the UN report and analysis ignored the fact that USDT is traceable on the blockchain. CEO Paolo Ardoino says the stablecoin issuer will continue to collaborate with law enforcement and other parties, including the UN. Tether has responded to a United Nations report that identified the USDT stablecoin as widely used in money laundering, organised crime and other illicit activity in the Southeast Asia region. The crypto company, whose USDT is the world’s largest stablecoin at $95 billion today, says its “disappointed in the UN’s assessment.” “ We are disappointed in the UN’s assessment that singles out USDT highlighting its involvement in illicit activity while ignoring its role in helping developing economies in emerging markets, completely neglected by the global financial world simply because servicing such communities would be unprofitable for them ,” Tether wrote in a  blog post published Januar...