UK Presents Bill to Recognize Crypto as Personal Property
U.K. authorities plan to clarify how to classify cryptocurrencies under a new bill. The British Parliament has been presented with a proposal to acknowledge digital assets as personal property under English law, as per an official government notification. The proposed bill would provide legal standing for blockchain-powered assets, such as virtual currencies, tokenized real estate, […]
Immunefi: Crypto Hackers Steal Over $1.2 Billion in 2024
Crypto hackers have stolen over 15.5% more in 2024 than in the same period last year. Cryptocurrency hackers have now stolen over $1.2 billion in 2024, following recent breaches in August, raising further concerns about the security of widespread crypto adoption. According to a report by Immunefi shared with Cointelegraph, the crypto industry has lost […]
Celsius Distributes $2.5B to 251K Creditors Amid Bankruptcy Proceeding
According to the Celsius bankruptcy administrator, more than 121,000 creditors have yet to claim their funds. Celsius has reimbursed two-thirds of its eligible clients as part of its much-anticipated bankruptcy proceedings. As per an August 26 court filing , the bankrupt cryptocurrency lender has returned about $2.53 billion to 251,000 creditors. This sum accounts for […]
New Zealand Adopts OECD Crypto Reporting Framework in New Tax Bill
Crypto service providers who fail to take “reasonable care” to comply with the requirements might face fines ranging from 20,000 to 100,000 New Zealand dollars ($12,000 to $62,000). The Minister of Revenue in New Zealand has introduced a new proposal to adopt the crypto-reporting framework developed by the Organisation for Economic Co-operation and Development (OECD). On […]
Nigeria’s SEC Licenses First Local Crypto Exchange
Other local exchanges will likely emulate Quidax’s approach and strive to satisfy the SEC’s requirements as the regulatory environment evolves. In a significant development for Nigeria’s rapidly growing cryptocurrency sector, the Securities and Exchange Commission (SEC) has granted the first provisional operating license to Quidax, an African-founded crypto exchange. This milestone marks the beginning of […]