CryptoTastic

2022-11-24 15:43:18 ​​New Council at Ukraine’s Securities Watchdog to Draft Crypto Taxation Regulations

A special council under Ukraine’s securities regulator will be tasked to develop rules for crypto taxation in the country. The new body will be also responsible for coordinating the regulation of various crypto activities and adjustments to the applicable legislation.

The National Securities and Stock Market Commission of Ukraine (NSSMC) has set up an advisory council that will be entrusted with the further development of the regulations for the digital asset market in the Eastern European nation.

The new board’s first task will be to prepare amendments to the country’s Tax Code reflecting the specifics of taxing cryptocurrency transactions, the authorities in Kyiv said in an announcement published before the weekend.

The changes are necessary in order to enforce Ukraine’s law “On Virtual Assets,” which was adopted in September 2021 and signed after revisions by President Volodymyr Zelenskyy in March, this year. The council will draft the respective amendments to the VA law, too. According to the NSSMC, the law will be finalized taking into account the provisions of the European Markets in Crypto Assets (MiCA) framework, the crypto news outlet Forklog noted in a report.

Best Crypto News Open / Comment

2022-11-24 14:51:21 BTC Black Friday sale tomorrow, BTC dumps during black Friday till coming Monday.

2021 -10.16%
2020 -16.66%
2019 -20.44%

will Bitcoin repeat same this time ??

Best Crypto News Open / Comment

2022-11-24 12:30:17 MetaMask Tracking IP Address.

Consensys, the company that owns MetaMask, just updated its Privacy Policy to state that they are collecting your IP ADDRESS and your ETH ADDRESS when you send a transaction.

Best Crypto News Open / Comment

2022-11-24 10:59:18 Sequoia Capital apologizes to investors after $150 million FTX loss: WSJ

Sequoia Capital partners apologized to investors for the $150 million it lost on investments in crypto exchange FTX, the Wall Street Journal reported. Sequoia partners said the firm would improve its due-diligence process on future investments and that it believed it was misled by FTX.

During the call, one partner at Sequoia reportedly said the firm will be able to have a Big Four accounting firm audit financial statements of the early-stage startups it invests in, the Wall Street Journal reported. Sequoia Capital earlier this month said it had written off its entire investment in the struggling crypto exchange that filed for bankruptcy protection on Nov. 11. FTX Group owes $3.1 billion to its top 50 creditors, according to recent court filings.

Best Crypto News Open / Comment

2022-11-24 10:47:17 Coinbase survey shows 62% of investors increased allocations over 12 months

A Coinbase survey found that crypto winter may not be as cold as expected. The 2022 Digital Assets Outlook Survey shows that 62% of investors who are currently invested in crypto increased their allocations in the past 12 months compared to 12% who decreased allocations. The survey interviewed 140 institutional investors to get a read on current sentiment and outlook toward digital assets since the start of the current crypto winter. To be sure, the survey was conducted prior to the meltdown of Sam Bankman-Fried's FTX and Alameda. The firms—which jointly filed for bankruptcy protection—have sent a ripple effect across the entire market.

Best Crypto News Open / Comment

2022-11-23 15:08:13 FTX, Bankman-Fried's parents bought Bahamas property worth $121 million: Reuters

FTX, the now-bankrupt crypto exchange operator, its founder Sam Bankman-Fried's parents and the firm's senior executives bought at least 19 properties worth about $121 million in the Bahamas over the past two years, Reuters reported Tuesday, citing official property records. The majority of the purchases — 15 properties worth about $100 million — were made by FTX's unit FTX Property Holdings in 2021 and 2022, per the report. The most expensive property purchase was a $30 million penthouse at a resort called Albany. Its deed was reportedly signed by Ryan Salame, the president of FTX Property on March 17, and showed it was intended as a "residence for key personnel.

Best Crypto News Open / Comment

2022-11-23 11:25:47 Binance CEO met with Abu Dhabi investors about industry recovery fund: Bloomberg

Binance CEO Changpeng "CZ" Zhao met with investors in Abu Dhabi last week in an effort to raise cash for a crypto industry recovery fund, Bloomberg News reported, citing sources  and it could be several weeks before the fund is established. Binance spokesperson told Bloomberg that the meetings were focused on global regulatory matters and how Middle Eastern regulators "could lead the globe by exploring more aggressive proof of custody requirements.".but in a liquidity crisis." He's also called on other exchanges to adopt six principles,  including avoiding excessive leverage, to ensure trust in the wake of the collapse of rival exchange FTX.

Best Crypto News Open / Comment

2022-11-23 09:24:58 Two arrested in Estonia for $575 million crypto fraud

The U.S. Department of Justice has arrested two Estonian citizens in Tallinn, Estonia for their alleged multi-layered scheme based on shell companies used to launder fraud proceeds. The 18-count indictment totals $575 million. If convicted, the duo may face 20 years in prison.

Sergei Potapenko and Ivan Turõgin, both 37, set up sham equipment-rental contracts for a crypto mining service called HashFlare and led victims to invest in a fake crypto bank called Polybius Bank which did not pay out customers’ dividends. Hundreds of thousands of people fell victim to the schemes, court documents show.The financial gains were reportedly used to purchase real estate and luxury cars.

Best Crypto News Open / Comment

2022-11-23 07:42:27 Binance has overtaken Coinbase to become the largest BTC reserve holder.

Best Crypto News Open / Comment

2022-11-23 05:47:47 Curve releases whitepaper and official code for its stablecoin

The developers of decentralized exchange Curve Finance have released code and official documents for Curve's soon-to-be launched decentralized stablecoin called crvUSD. While an official announcement from Curve is still pending, the repository published on the projects. The whitepaper states that users will be able to mint the stablecoin by depositing excess collateral in the form of a cryptocurrency loan in a reserve, a mechanism called a collateralized debt position (CDP). The stablecoin will also rely on a novel algorithm dubbed Lending-Liquidating AMM (LLAMMA), which will work to continuously liquidate and sell the deposited collateral to better manage potential collateralization risks.

Best Crypto News Open / Comment