Author: Mohammed Ali

Article written by Mohammed Ali

MoonPay receives regulatory approval as MiCA compliant

December 31, 2024 1 min read

MoonPay, a crypto payments platform, has received a license under the European Union’s Markets in Crypto-Assets (MiCA) regulation, approved by the Dutch Authority for the Financial Markets (AFM). This approval allows MoonPay to operate its services across Europe in compliance with MiCA guidelines. Co-founder and CEO Ivan Soto-Wright emphasized that this achievement reflects MoonPay’s commitment to regulatory compliance and its role in bridging traditional finance with the evolving crypto landscape.

IRS classifies DeFi platforms as brokers under new

December 30, 2024 1 min read

On December 27, 2024, the IRS released a new rule that changes how decentralized finance (DeFi) is viewed by labeling DeFi front-end platforms as brokers, similar to decentralized exchanges (DEXs). New rules require platforms like Uniswap to follow Know Your Customer (KYC) protocols and share detailed transaction data with the IRS, starting in 2027. In the past, DeFi platforms focused on being decentralized and protecting user privacy, but these new

Sberbank joins Russia’s central bank’s plan to expand access to digital currency across the country

December 30, 2024 1 min read

Sberbank, the biggest bank in Russia, is now part of the digital ruble pilot program with TBank and Tochka Bank, as the Central Bank of Russia (CBR) announced on December 28. This initiative now has 15 credit organizations, up from 12, and plans to add 14-15 more banks by 2025, according to Olga Skorobogatova, former First Deputy Governor of the CBR. The digital ruble, the third type of Russian currency

HEX founder Richard Heart faces an Interpol Red Notice over allegations of massive tax fraud

December 24, 2024 1 min read

Richard Heart, who started HEX and is well-known in cryptocurrency, is now dealing with significant legal issues, including an Interpol Red Notice. This notice is about claims of tax evasion of hundreds of millions of euros and a violent attack on a minor. Richard James Schueler, known as Heart, is wanted for extradition by international authorities. Heart insists that the serious accusations are part of a plot against him. He

Tether invests $775 million in Rumble

December 22, 2024 1 min read

Tether, the company behind the USDT stablecoin, has gained attention for investing $775 million in Rumble, a video-sharing platform that emphasizes Bitcoin and cloud services. This plan, shared on December 20, involves a cash investment of $250 million and the option to buy up to 70 million shares at $7.50 each. Even with this investment, Rumble’s CEO, Chris Pavlovski, still controls the company. Tether’s CEO, Paolo Ardoino, pointed out that

Bitcoin hits new all-time high of over $106K

December 16, 2024 1 min read

Bitcoin (BTC) recently jumped to over $106,000 during early Asian trading hours, then dropped back to about $104,500. This fluctuation happens as people expect a U.S. Federal Reserve (Fed) rate cut, likely reducing the main borrowing cost by 25 basis points to between 4.25% and 4.5%. This would mean a total reduction of 100 basis points since September. Market participants are cautious that the Fed’s statements might lower expectations for

Vancouver takes a bold step toward crypto adoption

December 13, 2024 1 min read

Vancouver’s city council is moving forward with plans to include Bitcoin in its financial strategy, guided by Mayor Ken Sim. The proposal suggests creating a Bitcoin reserve and accepting BTC payments for taxes and city fees. This aims to diversify financial reserves and reduce the risks linked to changes in fiat currency value. A feasibility study will be finished by early 2025 to evaluate the possible use of Bitcoin. Mayor

Marathon Digital expands its Bitcoin holdings with a major $1.1B purchase

December 13, 2024 1 min read

Marathon Digital has recently gained attention in the crypto world by buying over 11,000 Bitcoin, which brings its total to more than 40,000. This decision shows the company’s dedication to growing its digital asset collection, following trends seen in other big companies like MicroStrategy and Riot Platforms. Marathon funded the acquisition with a successful offering of zero-coupon convertible notes. This went better than expected and helped them strengthen their position

India partners with DC Wallet and AFC India to boost digital rupee adoption

December 9, 2024 1 min read

DC Wallet has teamed up with AFC India Limited to promote the use of India’s digital rupee, targeting more than 200 million people, especially those without bank access or with limited banking services. This initiative comes after the Reserve Bank of India’s (RBI) successful testing of the digital rupee on Ripple’s XRP ledger, which showed it is secure and can be scaled for wider use. The digital rupee started over

Alameda Research sues Waves founder Aleksandr Ivanov, seeking $90 million in a bid to recover assets lost

November 13, 2024 3 mins read

Alameda Research, a trading firm linked to the now-defunct FTX cryptocurrency exchange, has initiated legal action against Aleksandr Ivanov, the founder of the Waves blockchain platform, in a bid to recover around $90 million. This lawsuit is part of Alameda’s larger effort to reclaim assets and repay creditors affected by FTX’s downfall in 2022. The complaint, filed recently, accuses Ivanov and his companies, Numeris Ltd. and DLTech Ltd., of fraudulent

The Netherlands plans to enforce new crypto tax rules

October 27, 2024 2 mins read

The Netherlands is gearing up to adopt new cryptocurrency tax regulations in line with the European Union’s (EU) recent initiatives. The Dutch Ministry of Finance has unveiled plans to enhance oversight of digital currencies by introducing tax reporting requirements for crypto service providers. Starting January 2026, these providers will need to gather and share their clients’ information with the Dutch tax authorities, a move designed to boost transparency and combat

Bitstamp obtains MTF license to provide crypto derivatives products

October 26, 2024 1 min read

Bitstamp has recently received a Multilateral Trading Facility (MTF) license from Slovenia’s Securities Market Agency, allowing the exchange to offer a broader range of financial products to both retail and institutional clients. This new license enables Bitstamp to introduce crypto derivatives, such as perpetual swaps, which allow traders to speculate on cryptocurrency prices without the concern of expiration dates. Additionally, the license permits trading in structured products, bonds, commodities, and