Korean Police Seize Crypto Exchange Coinbit Over Allegations of $84 Million in Wash Trades
Police in South Korea on Wednesday raided and seized the offices of Coinbit, the country’s third largest crypto exchange, over allegations it faked 99% of its trading volume. According to a report from Seoul News, local police took control of Coinbit’s...
Crypto Exchange FTX Buys Blockfolio for $150 Million in Effort To Expand Retail Presence
Cryptocurrency derivatives exchange FTX has acquired the popular portfolio tracking app Blockfolio for $150 million in a bid to gain a foothold in the crypto retail market. The deal – consummated after nine months of negotiation – was settled using a...
Report: Russia Remains a ‘Key Market for Crypto,’ Commands the 3rd Largest Bitcoin Hashrate in the World
The fervor for cryptocurrency assets in Russia has grown wild over the last few years. This week Xangle Research published a comprehensive report about digital currencies and the Russian environment in 2020. The study’s findings show that Russia is one of the...
IRS Sends Fresh Round of Tax Warning Letters to Cryptocurrency Owners
The U.S. Internal Revenue Service (IRS) has begun sending new warning letters to cryptocurrency owners. This followed the tax agency prioritizing cryptocurrency on its tax forms. “The IRS is getting very serious about cryptocurrency tax compliance,” a tax...Interesting 13
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