Swedes who mine cryptocurrencies owe approximately $90 million in back taxes following discoveries of tax evasions spanning over a four-year period by government authorities. Between 2020 and 2023, the Swedish Tax Agency —Skatteverket— carried out investigations into the activities of 21 crypto-mining companies. The results uncovered that 18 of these firms had submitted “misleading or … Read more
According to an article in Economic Times, Binance cryptocurrency exchange is planning to resume operations in India following a four-month ban by paying a penalty of approximately $2 million for failing to adhere to regulations. Binance becomes the second foreign cryptocurrency exchange, following KuCoin, to resume operations in India after the country’s financial regulator prohibited … Read more
In an anticipated development, Dubai granted Binance, the globally prominent cryptocurrency trading platform, the necessary regulatory approval. The local entity of Binance, led by CEO Richard Teng, obtained its Virtual Asset Service Provider (VASP) license following Changpeng Zhao’s relinquishment of his voting rights within the exchange. According to sources who wished to remain anonymous, the … Read more
ADA was down by more than 23% over the last seven days. Most metrics and indicators supported the possibility of ADA testing the bull pattern. Just like many other cryptocurrencies, Cardano (ADA) saw its bearish traders in control as the price graphs continued to display red. Yet, signs of an uptrend began to emerge on … Read more
Bitcoin holders were still profitable, which threatened more selling pressure should the market uncertainty continue. The MVRV ratio’s predicted dip could take Bitcoin prices below the key $59k support level In April, the interest for Bitcoin (BTC) decreased noticeably. The expansion of demand and Exchange Traded Fund (ETF) investments dropped, but during the current month, … Read more
After the distribution of Omni tokens (OMNI) on the Omni Network using the ERC-20 standard, the token’s value decreased by more than 55% within approximately 18 hours, significantly reducing its total market worth. At the same time, a fraudulent token bearing the identical name has experienced a “pump and dump” scheme, causing its value to … Read more