Hang Seng Bank Limits Crypto Companies to Simple Accounts
Despite the Hong Kong government making efforts to establish the territory as a crypto hub, local crypto companies are having difficulty in securing corporate bank accounts.
US IRS Plans to Tax Staking Income
The IRS has recently released a draft supplement to their rules which requires that any rewards gained from staking coins in Proof-of-Stake networks be counted as taxable income.
Nasdaq Stops Crypto Custody Initiative
Nasdaq CEO Adena Friedman announced on Wednesday in an earnings call that Nasdaq has decided to halt their launch of a US digital assets custodian business.
Crypto Industry Loses More Than $313M Due to Attacks in Q2 2023
The total losses of cryptocurrency projects due to hacks and fraud in April-June of 2023 amounted to $313.5 million, 58% lower than the same period in the previous year as stated by.
The EU Will Force Banks to Disclose Data on Reserves in Crypto
The European Commission has implemented a new clause in the MiCA, the EU crypto regulation legislation, that requires banking institutions operating within the Union’s 27 countries to disclose information regarding the availability of reserves in digital currencies.
Anthony Scaramucci: SBF Has Damaged the US Crypto Industry
Anthony Scaramucci has declared that FTX founder Sam Bankman-Fried (SBF) has inadvertently caused excessive regulation in the US cryptocurrency industry.
3AC Liquidators Demand $1.3B from Company’s Founders
The liquidators of Three Arrows Capital (3AC) are filing a suit against co-founders Su Zhu and Kyle Davis, demanding the return of the approximate total of $1.3 billion in funds that were allegedly raised before the collapse of 3AC in June 2022.
