The IOTA token has surged by 43% after the announcement of the registration of the IOTA Ecosystem DLT Foundation in Abu Dhabi, the capital of the United Arab Emirates. The foundation will be the first to be registered under the DLT Foundations Regulations, a regulatory framework set up by Abu Dhabi Global Market (ADGM), the…
Binance, one of the world’s largest cryptocurrency exchanges, has announced that it will end support for its Binance USD (BUSD) stablecoin on December 15, 2023. This move comes after regulatory pressures faced by Paxos, the issuer of BUSD, which was ordered to stop minting the coin by the New York Department of Financial Services (NYDFS)…
Copper, a cryptocurrency custody and trading firm, is set to offer a brokerage service for digital securities in Abu Dhabi early next year. The new entity, Copper Securities, will provide execution and custody services and is currently working with the Financial Services Regulatory Authority (FSRA) in Abu Dhabi to secure the necessary approvals by early…
The UK government has issued guidance on how to voluntarily disclose unpaid capital gains or income taxes from crypto assets to avoid penalties. This includes exchange tokens such as Bitcoin, non-fungible tokens (NFTs), and utility tokens. Those who have already made disclosures to the UK Treasury have 30 days from the disclosure date to make…
Zipmex, a Singapore-based cryptocurrency exchange, has proposed a restructuring plan to pay its creditors 3.35 cents on the dollar, which is lower than what the creditors expected. The restructuring plan proposes a payout of up to 29.35 cents on the dollar, depending on the success of the debt recovery plan. However, major creditors have opposed…
The Philippines Securities and Exchange Commission (SEC) has issued a notice including a warning to users in the country that Binance, the world’s largest cryptocurrency exchange, may soon be blocked in the country. The regulator has accused Binance of operating without a license in the country and promoting crypto trading to Filipinos on social media,…
Coinbase CEO Brian Armstrong believes that the recent settlement between Binance and the U.S. Department of Justice marks the end of a chapter for the cryptocurrency industry. Armstrong stated in an interview with CNBC International that the enforcement action against Binance has allowed the industry to turn the page and close the chapter of crypto’s…
Standard Chartered Bank has reiterated its prediction that Bitcoin (BTC) will reach $100,000 by the end of 2024. The bank’s Geoff Kendrick and team expect that the approvals of several U.S.-based spot Bitcoin ETFs will be the next catalyst for price growth. They believe that these ETFs will be approved in Q1-2024 for both BTC…
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