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South Korea Introduces 20% Crypto Tax in 2025 with $35K Exemption
South Korea is set to implement a 20% cryptocurrency tax starting in January 2025, with an additional 2% local tax on profits exceeding 50 million Korean won ($35,919). The Democratic Party of Korea has confirmed this new framework, which was initially introduced in October 2021 during the tenure of former President Moon Jae-in. The implementation…
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ACT Token Skyrockets 2000% After Binance Listing
Binance, one of the world’s largest cryptocurrency exchanges, made headlines today with the listing of a new meme token called ACT I: The AI Prophecy (ACT) on its global platform. The token, which is based on the Solana blockchain, saw an unprecedented surge in price shortly after being listed on the exchange. Within hours of…
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Ripple vs. SEC: CEO Calls for Immediate Resignation of SEC Chair
The ongoing legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) took a dramatic turn on November 8, as American Securities Association (ASA) chief Chris Lacovella called for SEC Chairman Gary Gensler to resign. The news was first reported by Fox Business’ Eleanor Terrett and has sent shockwaves through the crypto industry.…
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Trump’s Plan to Shield US Economy Using Bitcoin: The End of De-Dollarization?
The era of massive de-dollarization may be coming to a halt as the US elections have brought Donald Trump back into the US political domain. Trump, who is set to become the 47th president of the United States, has already made his stance clear on protecting the US dollar. His plans include imposing taxes on…
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Ripple Anticipates SEC Policy Changes Under Trump’s Pro-Crypto Agenda
Ripple, a prominent blockchain firm, is gearing up for potential policy shifts at the Securities and Exchange Commission (SEC) as President Donald Trump signals his pro-crypto agenda. With Trump’s promise to replace SEC Chair Gary Gensler, Ripple sees an opportunity for more favorable regulatory policies in the United States. Brad Garlinghouse, the CEO of Ripple,…
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Will the Fed’s Rate Cut Boost Bitcoin? Experts Weigh In
In the world of cryptocurrency, all eyes are on Bitcoin as the Federal Reserve considers a potential rate cut that could have significant implications for digital assets. With Bitcoin reaching new highs of around $75,000, experts are divided on how Federal Reserve policy changes could impact the market. Market analysts are split on the potential…
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Cyprus SEC Extends Suspension on FTX Europe Until May 2025
The Cyprus Securities and Exchange Commission (SEC) has extended its suspension on FTX Europe’s investment firm license, prohibiting the crypto exchange from offering services or accepting new clients until May 2025. This decision marks the fourth time the Cyprus agency has extended its suspensions on FTX EU since the initial suspension in November 2022, around…
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Russian Officials Sound Alarm on US Dollar Stability: De-dollarization Looms Ahead
Russian officials Dmitry Medvedev and Sergey Lavrov have issued warnings about major changes ahead, specifically focusing on the de-dollarization movement and the stability of the US dollar. The two officials have raised alarms about the risks to financial stability and changes in global trade that could result from a potential collapse of the US dollar.…
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Binance Ends Referral Program in Turkey to Comply with Local Regulations
Binance, one of the world’s largest cryptocurrency exchanges, has announced the termination of its retail referral program in Turkey in order to comply with local regulations. This decision comes just months after the exchange registered its services with Turkey’s Capital Markets Board, signaling a shift in the company’s operations in the country. In a statement…
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Minneapolis Fed Calls for Bitcoin Ban or Tax to Address Deficits
The Federal Reserve Bank of Minneapolis has recently stirred controversy with the release of a paper advocating for the ban or taxation of Bitcoin in order to maintain primary deficits. The working paper, titled “Unique Implementation of Permanent Primary Deficits?” and authored by Amol Amol and Erzo G.J. Luttmer, argues that governments should take action…
