Brazil to Impose Tax on Crypto Income from Foreign Exchanges
Brazil is set to implement new income tax rules that could significantly impact cryptocurrency holders. The new tax, which ranges up to 15%, will apply to income generated from cryptocurrencies held on exchanges outside the country. The Federal Senate of Brazil approved legislation on November 29, 2023, which has already passed in the Chamber of […]
Celsius Allows Withdrawals for Some Clients Following Court Approval
Celsius, the crypto lending platform that filed for bankruptcy in 2022, has initiated the process of allowing withdrawals for a select group of users. The move is a significant turning point in the company’s complex journey through financial difficulties and legal challenges. According to a recent filing in the United States Bankruptcy Court for the […]
Abu Dhabi Grants Paxos Approval for Stablecoin Issuance
The Financial Services Regulatory Authority has given its in-principle clearance for stablecoin issuer Paxos to launch stablecoins in Abu Dhabi. The Financial Services Regulatory Authority in Abu Dhabi has granted two in-principle permissions to Paxos, a stablecoin issuer and cryptocurrency brokerage. According to a press statement on November 29, 2023, the regulator’s approval permits the […]
Treasury Seeks Expanded Sanctions Powers in Digital Space
The Biden administration is urging Congress to consider the biggest revisions to the Treasury’s sanctions authority since 2001. With this action, the usage of digital assets for financial transactions in areas affected by terrorism will be more strictly regulated. Wally Adeyemo, the U.S trade representative, reportedly stated that the implementation of a “secondary sanctions regime” […]
Bioniq Launches Bitcoin Ordinals Marketplace on Internet Computer
As a new Bitcoin ordinary marketplace, Bioniq takes a unique approach by running on the Internet computer (ICP) blockchain. The launch of Bioniq, a marketplace for Bitcoin Ordinals, is a significant step forward in the changing cryptocurrency scene. Unlike other companies, Bioniq runs on the Internet Computer (ICP) blockchain, a platform created by Dfinity, instead […]