CRYPTOCURRENCY
Crypto News
The definition of a cryptocurrency is a digital asset containing cryptographic protocols that make transactions secure and immutable. Cryptocurrencies are built on top of distributed ledger technology, blockchain — which allows it to be decentralized and immune to government control and interference. Transactions involving cryptocurrencies involve public and private keys, enabling minimal processing fees, allowing users to be able to make transfers without traditional third-party institutions.
The definition of a cryptocurrency is a digital asset containing cryptographic protocols that make transactions secure and immutable. Cryptocurrencies are built on top of distributed ledger technology, blockchain — which allows it to be decentralized and immune to government control and interference. Transactions involving cryptocurrencies involve public and private keys, enabling minimal processing fees, allowing users to be able to make transfers without traditional third-party institutions.
Taiwan's ACE Exchange Founder and Associates Face 20-Year Prison Sentences in Fraud and Money Laundering Case
Taiwan's prosecutors are recommending 20-year prison sentences for four suspects, including ACE Exchange founder David Pan, in a fraud and money laundering case involving the cryptocurrency trading platform. The case, which involved 32 individuals, resulted in over 1,200 victims and an estimated loss of 800 million New Taiwan dollars ($24.56 million).
John Deaton Files Amicus Brief in Support of Coinbase's Appeal Against SEC
John Deaton, a Republican lawyer and Senate candidate, has submitted an amicus brief supporting Coinbase's appeal against the SEC, arguing that labeling token transactions as securities is impractical.
Consensys Files Lawsuit Against SEC Over Ethereum Regulation
Consensys, a software development firm, has filed a lawsuit against the US Securities and Exchange Commission (SEC) and its commissioners, claiming the SEC plans to regulate Ethereum as a security, highlighting the ongoing debate on cryptocurrencies' regulatory classification and potential industry impact.
Anticipated Return of $9B Mt. Gox-era Bitcoin May Spur Market Anxiety
K33 Research analysts warn that the potential return of over $9 billion worth of Mt. Gox-era Bitcoin could unsettle the market and exert negative price pressure on Bitcoin. Creditors of the now-defunct Mt. Gox crypto exchange have shared updates on their claims, indicating that Bitcoin repayments could begin as early as next month. The sheer quantity of Bitcoin involved could create an "overhang" and potentially impact Bitcoin's price in the coming weeks.
IRS Introduces New Form 1099-DA for Reporting Income from Digital Asset Transactions
The US IRS has introduced Form 1099-DA for cryptocurrency brokers to report digital asset transactions, aiming to improve compliance and ensure accurate tax reporting from digital assets starting January 1, 2025.
Binance Announces System Upgrade for Improved Performance and Stability
Binance, one of the leading cryptocurrency exchanges, has announced a scheduled system upgrade to enhance overall performance and stability. During the upgrade, users may experience temporary disruptions in services such as new user registrations, logins, and trading. However, the exchange assures users that their funds will remain secure throughout the process.
Binance Adds APT/USDC, GALA/USDC, NEO/USDC, OMNI/BRL, and STX/USDC Trading Pairs
Binance introduces new trading pairs and Trading Bots services on its Binance Spot platform, enhancing users' trading experience with more options and automated strategies.
CoinGecko: 2024 Q1 Strong Crypto Industry Growth Propels Market Cap to $2.9 Trillion
CoinGecko's recently released 2024 Q1 Crypto Industry Report reveals significant growth in the cryptocurrency market, with the total market cap reaching $2.9 trillion. The report covers various aspects, including the performance of Bitcoin and Ethereum, the rise of decentralized finance (DeFi) and non-fungible token (NFT) ecosystems, and the performance of centralized and decentralized exchanges.
OKX Exchange to List WIF and MEW for Spot Trading
OKX, a leading cryptocurrency exchange, has announced the listing of WIF (dogwifhat) and MEW (cat in a dogs world) on its spot trading market. The deposit and spot trading schedules have been provided, allowing users to engage in trading activities with these newly listed tokens.
ASIC Appeals Federal Court Ruling on Finder Wallet's "Earn" Product
The Australian Securities and Investments Commission (ASIC) has appealed a federal court ruling that found Finder Wallet's "Earn" product compliant with Australian financial laws, raising concerns about consumer protections.