Tag: crypto

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The Alarming Trend of Crypto in Concealing Child Abuse Crimes

  In a startling revelation, the cryptocurrency tracing firm Chainalysis has uncovered a worrying trend in the illicit trade of child sexual abuse materials (CSAM). The sellers of these materials are increasingly employing advanced methods like “mixers” and “privacy coins” such as Monero, complicating efforts by law enforcement agencies to track and apprehend them. The […]
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Turkey Nears Completion of Comprehensive Crypto Regulation Framework

In a significant move towards providing clarity and regulation in the cryptocurrency space, the Turkish government is on the verge of finalizing a comprehensive framework for crypto assets and trading platforms. The impending regulations, outlined by Turkey’s Minister of Treasury and Finance, Mehmet Şimşek, aim to establish legal definitions for key crypto concepts, introduce licensing […]
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New IRS Crypto Reporting Law: $10,000 Threshold

A new era in cryptocurrency taxation has dawned in the United States. Following the Infrastructure Investment and Jobs Act, signed into law by President Joe Biden in November 2021, the Internal Revenue Service (IRS) has implemented a stringent reporting requirement for crypto transactions. This rule, effective from January 1, 2024, mandates that any receipt of […]
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December Month Hacks Adds To 2023’s $1.77B Crypto Loss

TL;DR In December 2023, crypto losses totalled $103.88M across 32 attacks, a 59% decrease compared to the previous month. The 2023 yearly loss amounted to $1.77B from over 440 hacking incidents, showcasing the prevalent vulnerability in the crypto space. Rug pulls and smart contract vulnerabilities contributed to being the prime contributors, constituting 21%, and code […]
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CoinDCX Sees 2000% Surge in Deposits Amid India’s Crypto Exchange Shakeup

In a significant development for India’s cryptocurrency market, CoinDCX, a leading crypto exchange, reported a staggering 2000% increase in customer deposits. This surge followed the Indian finance ministry’s action on December 28, when it issued show cause notices to nine major offshore exchanges, including Binance. The offshore exchanges, including names like Binance, Kucoin, Huobi, Kraken, […]
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South Korean police detain a suspected OTC crypto thief.

Source: spaxiax/Adobe South Korean police have apprehended an individual suspected of engaging in fraudulent activity through an over-the-counter (OTC) crypto exchange. Authorities in the town of Icheon, Gyeonggi Province, disclosed that they had arrested a man in his 20s on charges related to theft. The suspect allegedly deceived a victim into thinking they were engaging […]
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CBN prohibits cash withdrawal by operators of crypto bank accounts.

The Central Bank of Nigeria has clarified that accounts opened for virtual and digital asset transactions won’t permit cash withdrawals. The apex bank further explained that withdrawals from these accounts will exclusively occur through transfers or manager’s cheques. These accounts, as per the bank’s new guidelines, are solely designated for virtual/digital asset transactions and not […]
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Ripple (XRP) Price Predictions: A Comprehensive Overview for January 2024

In the ever-volatile world of cryptocurrency, Ripple’s XRP has recently been a topic of substantial speculation. With contrasting yet intriguing predictions, analysts EGRAG CRYPTO and Dark Defender have shared their outlooks for XRP’s future in 2024. EGRAG CRYPTO’s Bold Prediction EGRAG CRYPTO, a prominent figure in the crypto community, is optimistic about XRP’s potential for […]
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Forced to Declare Crypto Holdings, 290,000 South Korean Public Sector Employees

Source: promesaartstudio/Adobe Starting in February, approximately 290,000 public sector employees in South Korea will be required to disclose their cryptocurrency holdings. According to Maeil Kyungjae, the Ministry of Personnel Management has announced that the regulation will also be applicable to the spouses and immediate family members of employees. The progression comes after a recent ministry […]
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