The crypto community is in an uproar following the release of new DeFi reporting rules by the Internal Revenue Service (IRS). These new regulations, aimed at increasing transparency and improving tax compliance within the rapidly growing decentralized finance (DeFi) sector, have sparked widespread debate among crypto enthusiasts, developers, and tax professionals. While the IRS aims to close potential loopholes and …

Amidst a generally bearish December for the cryptocurrency market, Solana has emerged as a surprising standout. Despite broader market downturns, decentralized exchange (DEX) trading volume on the Solana blockchain has surpassed $100 billion, signaling resilience and continued growth for the network. A Strong Finish to 2024 While the overall crypto market struggled with declining prices and investor caution, Solana’s performance …

In a significant development for the world of cryptocurrency and international law, Montenegro has approved the extradition of Do Kwon, the controversial founder of Terraform Labs, to the United States. Kwon, who is at the center of a massive fraud investigation following the collapse of his blockchain project, now faces prosecution in the US for his role in the TerraUSD …

In a shocking cybersecurity breach, the official X (formerly Twitter) account of the CEO of the Crypto Council for Innovation (CCI) was hacked to promote a fraudulent $SPELL token scheme. This high-profile hack has raised alarms about the vulnerabilities of social media platforms and the growing sophistication of crypto scams. The Hack: How It Happened The CEO’s X account, which …

Kyrgyzstan, a country known for its relatively favorable crypto mining environment, has seen a sharp decline in its tax revenue from the sector. According to recent reports, the country’s crypto mining tax revenue has dropped by 50% in 2024, totaling just $500,000—far below previous years’ earnings. This significant reduction has raised questions about the future of crypto mining in the …

In a groundbreaking case that highlights the darker side of the cryptocurrency market, a South Korean court has sentenced a professional golfer and a former cryptocurrency exchange executive to prison for their roles in an elaborate altcoin price manipulation scheme. This case underscores the increasing scrutiny of crypto markets and the legal consequences for those exploiting them. The Scheme: A …

As the global interest in cryptocurrency continues to grow, speculation around countries adopting Bitcoin as part of their national reserves has gained traction. However, Japan and Russia have made it clear that such a move is not on their agenda—at least for now. Here’s a closer look at their stance and what it means for the crypto landscape. Japan’s Perspective: …

Ethereum, the world’s second-largest cryptocurrency by market capitalization, is facing a potential dip to the $3,000 mark. While this price movement may raise concerns among some investors, others see it as a prime opportunity to buy the dip and strengthen their portfolios. Let’s explore the key factors driving Ethereum’s price and whether this dip could be a golden opportunity. What’s …

Cybersecurity firm SlowMist has uncovered a sophisticated phishing scam targeting crypto users via fake Zoom meeting links. This scheme has reportedly led to the theft of millions of dollars in cryptocurrency, serving as a stark reminder of the ever-evolving threats in the digital space. The Scam Unveiled The attackers lure victims with fraudulent Zoom links, often disguised as invitations to …

In a major escalation in the ongoing battle against cybercrime and cryptocurrency theft, South Korea has imposed stringent sanctions on North Korean individuals and entities linked to the notorious crypto heists that have plagued the global digital asset ecosystem. The sanctions come in response to allegations that these groups have been involved in large-scale cyberattacks and hacking operations targeting cryptocurrency …