The European Parliament has taken a decisive step towards the regulation of cryptocurrency transactions by approving DAC8. This measure, which introduces tax reporting requirements for crypto transactions across the European Union (EU), will have significant implications for the crypto industry and its participants. With an overwhelming majority of 535 votes in favor, 57 against, and
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In a recent court filing, FTX, the crypto exchange currently navigating bankruptcy, has made last-minute adjustments to its proposal concerning the sale of its Bitcoin and crypto holdings. This move is seen as an attempt to address concerns raised by the US Trustee, the bankruptcy branch of the Department of Justice. FTX’s initial proposal aimed
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Stablecoin issuer Paxos recently released a transparency report on its Ethereum-based stablecoin, PayPal USD (PYUSD). The report highlights that the coin is fully backed by assets, providing detailed information about the assets held and their value. This article aims to critically analyze the report and delve into the implications of its findings. According to the
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The crypto industry is riddled with misconceptions and uncertainties, leading many to believe that a US legal opinion is not a necessary requirement for their project. However, recent developments have challenged this notion, with the SEC’s legal battles against industry giants Binance and Coinbase shedding light on the importance of robust legal opinions. The rising
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In a recent turn of events, CoinEx, a cryptocurrency exchange, has fallen victim to a security breach. The breach involved unauthorized withdrawals from the exchange’s hot wallets, which housed funds belonging to the platform. This unfortunate incident raises concerns about the overall security measures of cryptocurrency exchanges and the potential risks associated with trading and
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Tencent Cloud has recently unveiled its latest product, Tencent Cloud Blockchain RPC, in collaboration with Ankr. This innovative offering aims to provide Web3 developers with a reliable infrastructure and essential developer services. Web3 development can be complex and challenging, with high operational costs and resource requirements. Tencent Cloud’s Blockchain RPC service seeks to address these
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