Author: NBTC

Nigeria’s revenue agency has issued rules requiring crypto platforms and peer-to-peer (P2P) marketplaces to collect, report and remit taxes, including paying some withheld amounts in digital tokens. In its Guidelines on Taxation of Virtual Assets, the Nigeria Revenue Service (NRS) said income tax deducted at source and stamp duty “shall be remitted to the Service in the originating token of the transaction.” Value-added tax, by contrast, must be remitted in the currency used for the payment. The guidelines place exchanges and P2P marketplaces at the center of withholding, reporting and remittance under the country’s existing laws. Under the guidelines, platforms…

M3 DAO, a renowned decentralized autonomous organization to assist Web3 developers, has partnered with a prominent crypto exchange, GXT Exchange. The partnership is poised to connect the developer network of M3 DAO with the digital asset trading framework of GXT Exchange. As M3 DAO disclosed in its official social media announcement, the development aims to allow access to improved futures and spot trading backed by comprehensive liquidity. Thus, the joint initiative underscores a shared commitment to efficient and secure cryptocurrency trading services. M3 DAO x GXT Exchange: Liquidity Unleashed! 🌊Connecting our 200K+ global builder network with @GXTExchange! Teaming up to…

USBC increased a Bitcoin-backed loan to $18 million in late July. That created a price-dependent risk: the company could have to add collateral or repay debt within 24 hours. Using the filing’s July 31 inputs, the disclosed 130% call ratio equates to an illustrative Bitcoin price near $48,852. The company is developing a tokenized-deposit offering. In its Aug. 7 Form 10-Q, it said a fourth draw of $3 million on July 28 raised the balance under its Payward Interactive facility from $15 million. USBC had pledged 479 Bitcoin worth about $30.1 million as of July 31. The filing reported a…

India’s stock market witnessed an unusual divergence this week after the Securities and Exchange Board of India (SEBI) rolled out its new Closing Auction Session (CAS), triggering sharp swings in benchmark indices and reigniting debate over how markets discover their final closing price. Why Did the Nifty Reverse? The Nifty 50 erased part of Monday’s gains on Tuesday after surging nearly 200 points during the first-ever closing auction session. While the index officially closed around 24,774 on Monday, Nifty futures was trading more than 210 points lower on Tuesday, reflecting skepticism over whether the auction-driven spike accurately represented market value.…

Large institutional investors may’ve begun using the prolonged market downturn to aggressively accumulate Shiba Inu ($SHIB). A mysterious new whale has officially appeared on the radar after withdrawing 162.43 billion $SHIB, worth approximately $672,476, from the institutional custody service Coinbase Prime in a single transaction, according to Arkham. All of the tokens landed in a completely new address with no previous transaction history or known network connections, a clear marker of the emergence of a new major holder. Since Coinbase Prime is designed specifically for hedge funds, corporations, and professional asset managers, such a transfer to an empty wallet is…

South Korea has finalized its 2026 tax reform package while keeping the planned 22% tax on cryptocurrency investment gains set to begin on Jan. 1, 2027. South Korea’s Ministry of Economy and Finance confirmed on Aug. 3 that it had finalized the 2026 tax reform proposal without including another postponement for virtual asset taxation, clearing the way for the long-delayed measure to proceed next year if lawmakers approve the package in the National Assembly. Under the current Income Tax Act, profits from transferring or lending virtual assets will be taxed as other income from Jan. 1, 2027. Investors will pay…

Trading activity in the cryptocurrency market has slowed significantly, with weekly trading volume falling to its lowest level since 2026. According to the latest data shared by Kaiko, a data and analysis provider for digital asset markets, the total trading volume in the cryptocurrency market last week was approximately $15 billion. This figure represents a significant decline compared to levels at the beginning of the year. According to Kaiko’s analysis, the highest trading volume of the year was recorded in January. At that time, the total volume in the markets was approximately three times the current level. According to the…

The Bitcoin market is entering a new phase of dynamism following a sharp increase in institutional interest in spot ETFs. According to recent data, a massive $853 million in capital has flowed into spot Bitcoin funds in a short period. Leading industry experts Dave Weisberger, David Duong, and Mike McGlone discussed these market dynamics, macroeconomic impacts, and potential Bitcoin price movements in a recent broadcast. CoinShares Analysis Director David Duong argued that the size of the capital flowing into spot ETFs reaffirms institutional investors’ confidence in and long-term appetite for crypto assets. Duong stated that with weakening expectations for interest…

Nasdaq-listed Bitcoin mining rig manufacturer Canaan announced on Aug. 4 its intention to sell a portion of its cryptocurrency holdings to finance a share repurchase program. The company’s board approved the American depositary share (ADS) buyback plan in December 2025, and the proceeds from the crypto sale will be directed toward executing it. Why Canaan Is Selling Crypto Canaan’s decision comes as its market capitalization currently trails the combined value of its cryptocurrency holdings and cash-equivalent assets. Based on Aug. 3 market prices, the company’s crypto holdings were valued at approximately $130 million. This gap between the market’s valuation of…

$XRP Ledger validator Hussein Zangana, aka Vet, has pushed back against calls to reduce XRPL reserve requirements. He argued that network security should come before making account creation cheaper. Zangana said he would not support lower reserves unless it can be proven that the network would maintain the same protection against spam and denial-of-service attacks. Validator Says Reserves Are Key to XRPL Security In a post on X, Vet explained that XRPL reserves were created to protect the network’s storage and memory resources from spam and distributed denial-of-service (DDoS) attacks. He noted that, in 2012, creating an account originally required…