Cryptocurrencies

Blur introduces NFT perpetual lending protocol

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Borrowing positions automatically roll their expiry, and can be refinanced should one party unilaterally decide to terminate. On May 1, nonfungible tokens marketplace Blur launched Blend, a peer-to-peer perpetual lending protocol that supports NFT collateral. Developed with venture capital firm Paradigm, developers cite Blend’s rationale as a means of “financialization to scale.”4/ Every trillion dollar

Tax law researchers propose IRS framework for deducting crypto losses

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A recently published study appears to advocate for the isolation of crypto assets from other tax deductions where losses are concerned. Researchers at Indiana University and the University of Maine recently published a study examining the current state of cryptocurrency tax law in the United States. The research concludes with recommendations for the Internal Revenue

Etherscan hides zero-value token transfers to deter address poisoning attacks

etherscan-hides-zero-value-token-transfers-to-deter-address-poisoning-attacks

Address poisoning is a phishing scam that can affect users who have received unwanted tokens and don’t check their addresses carefully when sending crypto. According to an Apr. 10 post from Etherscan, the blockchain explorer has disabled the display of zero-value token transfers on its website by default. From now on, users must manually switch

Thai political party looking at PM race promises $300 in crypto upon victory: Report

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The country’s next general election will be held on May 14, at which time all 500 seats in Thailand’s House of Representatives will be up for grabs. The Pheu Thai Party, a political party in opposition to the current Thailand prime minister’s, has reportedly proposed giving nearly every citizen of the country roughly $300 in

Community-driven crypto projects still thriving despite headwinds

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Community engagement has always been a key aspect of crypto, and it’s proving its value during bear markets. The highly anticipated launch and airdrop of Arbitrum’s native governance token ARB took place on March 23, creating a buzz around the layer-2 protocol as hundreds of thousands of eligible users and DAOs tried to claim the

Aave freezes stablecoin trading on Avalanche V3 as activity surges on CEXs

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The trading freeze follows an analysis from DeFi’s risk manager firm Gauntlet Network considering different scenarios for the USD Coin price. Lending protocol Aave has frozen stablecoins trading and set Loan-to-Value (LTV) ratio to zero in response to recent price volatility on stablecoins after the USD Coin (USDC) depegged on March 11. According to the Aave’s

Kansas state lawmakers look to cap crypto political donations at $100

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Under the proposed amendments, crypto campaign contributions under $100 were acceptable, provided the receiver immediately convert the funds to USD and not HODL them. Lawmakers in the Kansas House of Representatives have introduced a bill proposing to amend the legislature’s rules on political campaign donations.According to the bill, no person would be allowed to make

Bitcoin dominates as primary focus for digital asset investors: Report

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According to CoinShares, digital asset investment products saw inflows totaling $76 million last week. On Feb. 6, European cryptocurrency investment firm CoinShares published its “Digital Asset Fund Flows Report,” which revealed that investors are showing a strong interest in digital asset investment products, with inflows totaling $76 million last week, marking the fourth consecutive week

Nifty Gateway co-founders resign amid Gemini woes

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Nifty Gateway was founded in 2018 and acquired by Gemini in 2019. In a Twitter thread posted on Jan. 25, Duncan Cock Foster and Griffin Cock Foster, co-founders of nonfungible token (NFT) auction platform Nifty Gateway, announced their resignations effective immediately. In supporting the decision, Duncan said they were leaving because “Griffin and I are

Bitcoin mining pool BTC.com reports $3M cyberattack

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BTC.com, the seventh-largest Bitcoin mining pool, said that its client fund services are unaffected by the recent $3 million cyberattack. Major cryptocurrency mining pool BTC.com has suffered a cyberattack resulting in a significant loss of funds by the company and its customers.BTC.com experienced a cyberattack on Dec. 3, with attackers stealing around $700,000 in client

US Government Delays Tax Reporting Rules for Cryptocurrency Brokers

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The enforcement of a requirement for brokers to report gains made by crypto investors has been postponed by the U.S. Treasury Department and the IRS. The new tax rules, incorporated into the $1 trillion infrastructure bill passed by the U.S. Congress in 2021, were to be imposed in 2023. Crypto Brokers Told to Comply With

OpenSea blocks Cuban artists from the platform due to US sanctions

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OpenSea’s terms of service explicitly prohibit individuals and organizations from sanctioned regions from using its platform. Nonfungible token (NFT) marketplace OpenSea has been banning artists and collectors from Cuba, citing United States sanctions as the key reason behind its action.According to a report published by Artnet, 30 artists and collectors have been banned from the popular

Another Member of Russian Crypto Pyramid Finiko Arrested in UAE

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Law enforcement authorities in the United Arab Emirates have detained a top Finiko representative, sought for his role in the crypto Ponzi scheme which defrauded thousands of investors around the world. This is the second arrest in the Gulf state of a high-ranking member of the pyramid announced in the past month. Finiko Fraudster Caught

Hong Kong to subject crypto exchanges to the same laws governing TradFi

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The new legislation will bring a licensing regime for the virtual asset service providers requiring them to pass strict AML and money laundering guidelines. Hong Kong’s legislative council has passed a new amendment to its anti-money laundering (AML) and terrorist financing system to include virtual asset service providers.The latest legislation will establish a new licensing

Putin Calls for International Settlements Based on Blockchain and Digital Currencies

putin-calls-for-international-settlements-based-on-blockchain-and-digital-currencies

Russian President Vladimir Putin believes a new system for international money transfers is needed to reduce dependence on big banks and third parties. He is convinced that cross-border payments relying on digital currency and distributed ledger technology will be “much more convenient.” Russia’s Head of State Urges for Blockchain-Powered International Payments President of Russia Vladimir

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