According to Nigeria’s securities regulator, Binance is neither registered nor regulated in the country, making its operations illegal. Source: https://cointelegraph.com/public/index.php/news/nigeria-regulator-halts-binance-operations-report
Month: June 2023
TrueUSD stops minting via Prime Trust, loses dollar peg
Stablecoin TruedUSD (TUSD) slightly lost its dollar peg in the early hours of June 10, following a pause in minting activities through its technology partner Prime Trust. The fifth-largest stablecoin by market capitalization traded at $0.9964 at its deepest point. According to CoinMarketCap, its value is $0.9981 as of this writing. The current supply of TUSD is $2.04 billion, while…
This Week in Coins: Market Crashes as SEC Slams Binance and Coinbase
Illustration by Mitchell Preffer for Decrypt. Crypto markets crashed hard this week on news that the U.S. Securities and Exchange Commission had launched enforcement actions against Binance on Monday, followed by Coinbase the next day—both sued for allegedly operating as unregistered securities exchanges. The pair are the two largest crypto exchanges in the world—and the entire industry took notice. Market…
Nigeria regulator halts Binance operations: Report
It has been a tough week for cryptocurrency exchange Binance. On June 9, Nigeria’s securities authority reportedly deemed the exchange illegal, just days after Binance was sued by the U.S. Securities and Exchange Commission. “Binance Nigeria Limited is hereby directed to immediately stop soliciting Nigerian investors in any form whatsoever,” Nigeria’s Securities and Exchange Commission (SEC) said in a statement…
EU needs further efforts to implement crypto regulations: Btc. x CEO
Christian Anders, the CEO of Btc. x has said that despite the Markets in Crypto Assets (MiCA) being signed into law, the European Union (EU) might need to do a lot of more lobbying of different regulators in Europe and work with the different governments. In an interview with Cointelegraph, Anders noted that for the crypto framework stated in MiCA…
How to land your ideal IT job with Google search operators
In today’s competitive job market, finding the right IT job can be challenging. However, using the power of Google search operators can substantially increase one’s job search and help land the perfect opportunity. By employing Google search operators correctly, one can limit a job search to specific job titles and localities and avoid unwanted phrases. For example, by using the…
Bitcoin price avoids 3-month lows as crypto dive liquidates $390M
Bitcoin (BTC) challenged three-month lows into June 10 as altcoins in particular felt the heat from United States regulatory pressure. BTC/USD 1-hour candle chart on Bitstamp. Source: TradingView Altcoin bloodbath as exchanges reshape landscape Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting $25,483 on the day, down over $1,200 from the previous day’s high. While showing weakness, Bitcoin…
OpenAI CEO highlights South Korean chips sector for AI growth, willing to invest
Sam Altman, ChatGPT-maker and CEO of OpenAI, who met with South Korean President Yoon Suk Yeol on June 9, urged South Korea to play a leading role in making the chips needed for artificial intelligence (AI) technology while expressing interest to invest in Korean startups and collaborate with bigger chipmakers like Samsung Electronics. According to local news media, Koreajoongangdaily, The…
New Worldwide Tax Standard Includes Cryptocurrencies and CBDCs
The crypto industry is getting its very own tax framework. The Organization for Economic Cooperation and Development (OECD) has rolled out a new tax standard for cryptocurrencies along with a set of amendments to the already existing common reporting standard. The OECD is an international organization aimed at creating standards for issues such as climate change, taxation, education, and jobs.…
Nigeria to tax crypto, digital assets 10% on capital gains: Experts react
On the eve of his departure from office, May 28, former President Muhammadu Buhari signed into law the Finance Act 2023. The Act introduced a series of tax reforms aimed at modernizing the country’s fiscal framework. Among its provisions was the introduction of a 10% tax on gains from the disposal of digital assets, including cryptocurrencies. The Finance Act 2023…