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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 …