Editor's Choice
Taxes from cryptocurrency mining in Kyrgyzstan decreased by more than 50 percent in 2024, totaling $535,000 instead of $1 million in 2023 due to high operational costs and fluctuations in energy prices ⚡
In 2024, tax revenues from cryptocurrency mining in Kyrgyzstan decreased by more than 50 percent, amounting to $535,000 compared to $1 million in 2023. The decrease in income is related to high operational costs, fluctuations in energy prices, and other market factors. Although Kyrgyzstan has significant hydroelectric potential, used only at 10 percent, issues with the availability of cheap energy and instability in the cryptocurrency market have negatively affected mining revenues.
ChainGPT announced a partnership with DePINed to monetize unused internet resources and computing power through a decentralized network with the $DePIN token on Solana 🚀
ChainGPT announced a partnership with DePINed, a decentralized network that allows users to monetize unused resources such as computing power and internet bandwidth. DePINed provides access to powerful AI and rendering tools, offering solutions through a PC and browser app. Network participants can earn up to 85 percent of the income from the resources they provide in the form of $DePIN tokens. This project opens up new opportunities for businesses and users, reducing costs and providing access to advanced technologies.
The Japanese government rejected the proposal by Senator Satoshi Hamada to include Bitcoin in the country's foreign currency reserves, citing the volatility of cryptocurrencies and a lack of understanding of international trends 🌐
On December 20, the Japanese government rejected the proposal by Senator Satoshi Hamada to include Bitcoin in the country's foreign currency reserves. In a statement by Prime Minister Ishiba Shigeru, it was noted that due to the volatility of cryptocurrencies and a lack of understanding of international trends, Japan does not intend to use Bitcoin in its reserves. The importance of asset stability and liquidity for effective reserve management was also emphasized. Meanwhile, financial experts suggested considering the creation of cryptocurrency ETFs in the future.
SimpleSwap announced a partnership with Tangem wallet, offering users the ability to exchange cryptocurrencies directly in the wallet with enhanced security and convenience 🔐
SimpleSwap has partnered with Tangem wallet, allowing users to exchange cryptocurrencies directly in the wallet while keeping their assets in a secure environment. This integration simplifies the exchange process and enhances transaction security by combining the convenience of the SimpleSwap platform with the protection of the Tangem cold wallet. Now users can safely and quickly manage their cryptocurrency assets, as well as exchange them without leaving the app. This solution fully meets the community's needs and is focused on user convenience.
The U.S. Department of the Treasury has published final rules on reporting for DeFi participants providing front-end services for trading digital assets, with reporting obligations starting in 2025 📊💻
The National Bank of Cambodia has approved services with backed stablecoins and banned the use of unbacked cryptocurrencies, such as Bitcoin, for commercial banks and payment institutions 🚫
The Central Bank of Russia is developing a platform to prevent illegal cryptocurrency transactions, using artificial intelligence to monitor high-risk clients and block suspicious transactions 🔒
Bitwise has filed an application with the SEC to create the Bitwise Bitcoin Standard ETF, which will invest in companies with BTC reserves of at least 1,000 coins and significant income from Bitcoin-related activities 💼
Strive has applied to create an ETF investing in convertible bonds of MicroStrategy and other companies buying Bitcoin, using derivatives to profit 📈
The scammers use fake Zoom links to steal cryptocurrency: the malware steals data and transfers funds to exchanges like Binance, Gate.io, Bybit, and MEXC 💸
Tether invests in the Arcanum Emerging Technologies Fund II to support innovations in Web3, blockchain, AI, and privacy, including projects utilizing the Tether stablecoin 💡
Bitget is merging its Bitget Token (BGB) and Bitget Wallet Token (BWB) into a single token BGB, enhancing the ecosystem and expanding opportunities for users in DeFi and real life 🔗
The prison sentence of Ryan Salame, the former top manager of FTX, has been reduced by one year: he will be released in March 2031 thanks to good behavior benefits and the "First Step Act" law ⏳
Ryan Salame, the former top manager of FTX, had his prison sentence reduced by one year. Instead of 7.5 years, he will be released in March 2031. The reduction was made possible due to good behavior and benefits under the "First Step Act," which allows inmates to shorten their sentence for good behavior. Salame admitted his guilt for involvement in fraud and the improper use of client funds, which led to the collapse of the FTX cryptocurrency exchange. There are also ongoing rumors about a possible pardon for FTX founder Sam Bankman-Fried.
The WRX token loses 90 percent of its value after being delisted from Binance, resulting in user losses on WazirX of more than 50 crore rupees and a decrease in the exchange’s assets by $50 million 💸📉
After the delisting of the WRX token from Binance, its value dropped by 90 percent, leading to user losses on WazirX amounting to more than 50 crore rupees. The WRX tokens became part of the exchange’s funds after a hacker attack in July, during which cryptocurrencies worth 2000 crore rupees were stolen. According to the latest report, the remaining funds of the exchange total $248.35 million, but their value has decreased by $50 million. The WazirX team is using these funds to cover legal expenses and launch new projects without the consent of users.
The criminals stole $1.2 million through the fake platform "Seed Crypto," using social engineering to gain access to wallets and withdrawing funds via cryptocurrency exchanges 💸
The criminals fraudulently stole around $1.2 million from cryptocurrency wallets by offering fake investments through a counterfeit platform called "Seed Crypto." The website forced users to connect their wallets via WalletConnect or Coinbase Wallet, after which it gained access to the funds. The funds were withdrawn through cryptocurrency exchanges like Binance and OKX. The scam uses social engineering and stablecoins (USDT, USDC), making it difficult to trace and freeze the assets.
Indian tax authorities uncovered a money laundering network through hawala and cryptocurrency transactions, seizing $2 million in cash and cryptocurrency wallets from wedding organizers in Jaipur 💸
The tax authorities of India in Jaipur uncovered a money laundering scheme related to hawala and cryptocurrency transactions. During raids, wedding organizers had $2 million in cash and jewelry seized, as well as three cryptocurrency wallets. The investigation revealed that clients paid in cash and received cryptocurrency through hawala operators. The authorities plan to conduct similar raids in other cities to combat illegal transactions in the wedding industry.
Best news of the last 10 days
Israel has approved the launch of six Bitcoin mutual funds with fees ranging from 0.25 percent to 1.5 percent, set to launch on December 31, 2024, providing investors with a new way to enter the cryptocurrency market 📈
The account of Animoca Brands co-founder Yat Siu was hacked to promote a fake MOCA token on the Solana platform. The token's price dropped by more than 80 percent just a minute after the post 💻
SBI VC Trade has entered into an agreement with DMM Bitcoin to transfer assets and user accounts, which will be transferred to the platform on March 8, 2025, after the hack and theft of 320 million dollars 💼
South Korea imposes sanctions on 15 North Korean citizens and one organization for involvement in cybercrimes, including cryptocurrency theft and cyberattacks on global IT companies 🚨
Russia has officially permitted the use of Bitcoin and cryptocurrencies for international transactions, is legalizing mining, and expanding alternatives to the dollar under sanctions 🌍
Russia has allowed the use of cryptocurrencies, including Bitcoin, in international trade and is actively working on the legalization of mining. Finance Minister Anton Siluanov emphasized that such transactions are already being carried out, and their volumes are planned to increase in the near future. President Vladimir Putin noted that U.S. policy undermines trust in the dollar as a global reserve currency, forcing countries to seek alternatives. He pointed to Bitcoin as a promising asset that cannot be regulated at the global level, making it attractive for international settlements.
Scammers are attacking cryptocurrency owners through Google Ads, redirecting them to a fake Pudgy Penguins site to steal data and access crypto wallets 🐧
Experts from Scam Sniffer have identified a new scam scheme through Google Ads. Malicious code redirects cryptocurrency wallet owners to a fake Pudgy Penguins NFT collection site, where scammers can steal data or gain access to funds. Users are advised to carefully check URLs, use ad blockers, and a separate browser for web3 interactions.
Ripple introduced the stablecoin Ripple USD (RLUSD) on the Independent Reserve exchange in Singapore with support for trading in pairs with the Singapore Dollar and the US Dollar, as well as through the over-the-counter service 🌏
Ripple launched the stablecoin RLUSD on the Singaporean exchange Independent Reserve on December 22, 2024. Users gained the ability to trade RLUSD in pairs with SGD and USD, as well as to carry out transactions through the over-the-counter service. The exchange noted that RLUSD contributes to the development of decentralized finance and provides a convenient tool for capital management. This partnership strengthens Ripple's position in Asia, expanding the accessibility of RLUSD and creating new opportunities for traders and businesses.
Turkey introduces new rules for cryptocurrency transactions over 15,000 Turkish liras: mandatory user identification and blocking of suspicious transfers 🔒
Starting from February 2025, new regulations on cryptocurrency transactions will come into force in Turkey. Users making transfers of more than 15,000 Turkish liras (approximately $425) will be required to provide their identification data to crypto services. If the sender cannot verify their data, the transaction may be deemed "risky" and blocked. These measures aim to combat money laundering and terrorist financing, but small transfers up to $425 remain free of additional checks. The new rules complement the efforts of other countries in regulating the crypto market.