BC Technology Denies Plans to Sell Crypto Platform OSL
BC Technology Group Ltd., the owner of Hong Kong’s first licensed crypto platform, OSL, has refuted recent media reports claiming that the company is exploring the sale of its digital asset business. The firm said that the reports are “factually inaccurate and highly misleading.” In a filing to the Hong Kong Stock Exchange on October […]
X Launches $1 Subscription Fee for New Users in NZ, PH
X, the social media platform formerly known as Twitter, has launched a subscription model for new users in New Zealand and the Philippines. The move is part of the company’s efforts to combat bots and spam on the platform. X announced on October 17, 2023, that new users in these two countries will have to […]
EU Adopts Crypto Tax Reporting Rule DAC8
The Council of the European Union has formally adopted the Directive on Administrative Cooperation (DAC8), a regulation that requires crypto brokers and exchanges to report the tax information of their customers. The rule will enter into force after it’s published in the Official Journal of the EU. DAC8 is the eighth version of the Directive […]
Pennsylvania Scraps Crypto Mining Ban After Union Pressure
Pennsylvania lawmakers have decided to drop a proposed two-year ban on crypto mining from a bill that aims to regulate the energy consumption of the industry. The move came after intense pressure from trade labor unions and concerns about the impact on Democratic Party support. The Cryptocurrency Energy Conservation Act, which was introduced in June, […]
Crypto Whale Suffers $49K WBTC Loss on Fake Bitcoin ETF News
A crypto whale bought 20.5 Wrapped Bitcoin (WBTC) for 613,201 USDC after a false report that the SEC approved a spot Bitcoin ETF, only to sell them for 563,970 USDC in 10 minutes. The incident shows the impact of FOMO and misinformation on the crypto market. A cryptocurrency whale suffered a huge loss of nearly […]