April 18, 2024 — Venezuela’s national oil company, Petróleos de Venezuela, S.A. (PDVSA), is reportedly considering Tether (USDT), the world’s largest dollar-pegged stablecoin, to mitigate the impact of new U.S. sanctions. According to Reuters, PDVSA aims to use USDT to prevent the freezing of its foreign bank accounts. This development highlights a strategic shift in how sanctioned entities might seek to circumvent financial restrictions using cryptocurrency. PDVSA, Venezuela’s state-owned oil giant, is at the center of these reports. Tether, the issuer of USDT, did not respond to requests for ..read more

April 18, 2024 — Thailand has announced stringent measures to enhance online security by blocking access to “unauthorized” cryptocurrency platforms. This move comes as part of a broader initiative to curb online criminal activities linked to digital asset transactions. The decision was finalized after deliberations by the Technology Crime Prevention and Suppression Committee, which has directed the country’s Securities and Exchange Commission (SEC) to coordinate with the Ministry of Digital Economy and Society. The Thai SEC, in collaboration with the Technology Crime Prevention and Suppression ..read more

Bitcoin halving is a significant event in the cryptocurrency world that has implications for miners, investors, and the broader market. This event occurs approximately every four years and is part of the design of Bitcoin’s underlying blockchain technology. Understanding what bitcoin halving is, how it works, and why it matters can provide insights into the economic model of Bitcoin and its impact on price dynamics. What is Bitcoin Halving? Bitcoin halving refers to the reduction in the reward that Bitcoin miners receive for adding new blocks to the Bitcoin blockchain. When Bitcoin was first c ..read more

April 19, 2024 — The Bharat Web3 Association (BWA), a prominent industry body for the crypto and Web3 sectors in India, has unveiled new guidelines for the listing of tokens on Virtual Digital Asset (VDA) platforms among its members. These comprehensive guidelines aim to standardize the token listing process, emphasizing transparency, security, and investor protection. The Bharat Web3 Association, led by Chairman Dilip Chenoy, serves as a collective for various stakeholders within India’s burgeoning Web3 and cryptocurrency industry. The organization seeks to implement structured regulatory pra ..read more

April 18, 2024 — Boxing icon Mike Tyson has announced his new role as an ambassador for the blockchain-based social networking application, Ready to Fight (RTF). Positioned as a pioneering platform within the boxing community, RTF is endorsed by Tyson for its potential to revolutionize interactions and operations within the sport. Mike Tyson, the former heavyweight boxing champion known for becoming the undisputed heavyweight at just 20 years old, is joining forces with RTF. The platform is also led by Ukrainian professional boxer Oleksandr Usyk and has received backing from prominent figures ..read more

April 18, 2024 — The Enforcement Directorate (ED) of India is currently investigating businessman Raj Kundra, who is married to Bollywood actress Shilpa Shetty, in connection with a money laundering case. This case is tied to the cryptocurrency Ponzi scheme known as ‘Gain Bitcoin.’ It is important to note that Kundra is not the primary suspect in this investigation. Raj Kundra, a well-known businessman, along with other entities, is under scrutiny by the ED for possible links to the fraudulent scheme initiated by Ajay Bhardwaj and his brother Mahendra Bhardwaj in 2017. The ‘Gain Bitcoin’ schem ..read more

April 18, 2024 — Nana Murugesan, previously the Vice President for Business Development, International, and Listings at Coinbase, has taken on a new role as President at Matter Labs, a company dedicated to developing Ethereum scaling solutions. At Matter Labs, Murugesan will oversee operations encompassing marketing, communication, finance, and legal aspects. Nana Murugesan brings extensive experience from his previous roles, including as Managing Director of International Markets and Mobile Partnerships at Snap, and a nine-year tenure as Vice President and General Manager for Services and New ..read more

April 18, 2024 — Swedish crypto miners are now liable for over $90 million in unpaid taxes following extensive government investigations that exposed financial misconduct over four years. The Swedish Tax Agency, Skatteverket, conducted detailed investigations into 21 crypto-mining firms from 2020 to 2023, finding that 18 of these firms had engaged in deceptive practices to exploit tax incentives. The investigations targeted a range of crypto-mining companies operating within Sweden, scrutinizing their compliance with tax obligations. The primary offenders included companies that deliberately m ..read more

April 18, 2024 — Sweden’s tax authority has uncovered substantial irregularities involving 18 companies engaged in crypto mining under the guise of legitimate data center operations. The investigation, which took place from 2020 to 2023, revealed that these companies exploited tax incentives inappropriately, leading to a demand for an additional 990 million Swedish krona ($91 million) in taxes, inclusive of value-added tax (VAT) and surcharges. The Swedish Tax Agency, led by the head of the intelligence unit, Patrik Lillqvist, conducted the investigation into these companies, which misleadingl ..read more

April 18, 2024 — Binance, one of the world’s leading cryptocurrency exchanges, is set to reenter the Indian market with a strategic focus on compliance. The exchange has announced plans to register with the Financial Intelligence Unit (FIU) under India’s finance ministry, adhering to the stringent regulations outlined in the Prevention of Money Laundering Act (PMLA) and the Virtual Digital Assets (VDA) taxation framework. Binance, previously a major player in India’s cryptocurrency landscape, had faced a ban due to non-compliance with local tax laws, particularly the omission of the mandatory ..read more