Author: NBTC
The Canada Revenue Agency (CRA) is cracking down on crypto, going after C$54m ($39.5m) in suspected unpaid taxes. It is also launching investigations into hundreds of crypto investors. The National Post reported Monday that Sahil Behal, a director general at the CRA’s compliance branch, revealed the agency is currently conducting around 400 audits on crypto-related activities. Still, he acknowledged a major need for public education regarding crypto tax obligations. Meanwhile, veteran tax lawyer, David Rotfleisch, criticized the CRA’s efforts as a “drop in the bucket.” He argued the agency needs to significantly increase education on crypto tax obligations for owners…
Earn Alliance and MetaLend have joined forces to revolutionize asset management and trading within the gaming community. This strategic partnership introduces a groundbreaking airdrop initiative designed to enhance the gaming experience for crypto enthusiasts worldwide.—MetaLend, known for its cutting-edge crypto trading platform tailored specifically for Web3 gaming assets, brings its expertise to the collaboration. By integrating MetaLend’s advanced technology with Earn Alliance’s expansive global ecosystem, gamers gain access to a highly-engaged community and a seamless platform for managing and trading their gaming assets.Joseph “Coop” Cooper, CEO & Founder of Earn Alliance, highlights the significance of the partnership: “MetaLend simplifies swaps…
After the long-awaited Bitcoin (BTC) halving event failed to kickstart an imminent massive rally, the cryptocurrency market is consolidating, providing an opportunity for those eyeing the flagship decentralized finance (DeFi) asset to purchase it at a lower price before the momentum eventually returns. As it happens, popular crypto trading analyst Michaël van de Poppe has observed that “boredom has come back into the markets,” and Bitcoin is “still consolidating within the range, through which this is now more than six weeks,” according to an X post published on April 23. Massive ‘buy the dip’ opportunity? That said, van de Poppe…
Grayscale CEO Michael Sonnenshein is reportedly “optimistic” about Ethereum ETF approval prospects. The head of the latest cryptocurrency asset manager expects the agency to do “the right thing.” As reported by U.Today, Grayscale recently withdrew its Ethereum futures ETF application after it was delayed in November. According to ETF analyst James Seyffart, it was a Trojan horse filing that was meant to get a 19b-4 order from the SEC. However, according to multiple analysts, Grayscale’s withdrawal likely means that it is not going to pursue another lawsuit against the SEC. Last August, Grayscale scored a massive victory against the agency,…
This article explores five low-priced tokens with the potential for notable gains when the bull market momentum rekindles. The crypto market’s bullish frenzy has momentarily encountered a setback as Bitcoin undergoes expected price corrections. Nonetheless, the bearish trend has ushered in another opportunity for the investing community to bag various token projects at discount prices. Meanwhile, some investors wary of high-priced coins may be uncertain about which lower-priced options to explore. In light of this, The Crypto Basic delves into five affordable assets worth considering during this bullish season. VeChain (VET) Topping this list is VeChain (VET), a crypto project…
SEC sealed remedies reply brief in Ripple case, soon to reveal redacted version. Courtroom strategy session decides document access, classified as Confidential or Highly Confidential. Legal battle between Ripple and SEC intensifies, public awaits insights into complex dispute. The most recent development in the Ripple case against the U.S. Securities and Exchange Commission (SEC) represents yet another unusual twist that adds to the enormity of the case’s complexity. Nevertheless, the SEC took a riskier step by sealing the reply brief and its exhibits to prevent the public from accessing the private material. 🔥 BREAKING: Today, the sealed remedies reply brief…
According to CoinMarketCap, a critical indicator, the Spent Output Profit Ratio (SOPR), has emerged as a compass for discerning market sentiment. A distinct facet of this ratio, the LTH-SOPR/STH-SOPR, has recently garnered attention for its insights into the behavior of long-term versus short-term holders. Long-term holders are taking profits“Such patterns hint at the likelihood of long-term investors capitalizing on price ascents to realize profits.” – By @Woo_Minkyu Full post 👇https://t.co/fk7SvHA9v1 — CryptoQuant.com (@cryptoquant_com) April 23, 2024 Over time, the SOPR ratio has exhibited a general downtrend, reflecting the gradual shift in profit dynamics within the market. However, amidst this overarching…
Ethereum (ETH) resumes the downtrend, struggling to surpass $3K. ETH investors’ sentiment slips into the neutral zone, as per its Fear and Greed Index. The downtrends of the majority of altcoins in the market still resume. Ethereum (ETH), the largest altcoin by market cap, resumes to be under the bearish locks over the past 30 days with a 19% decline in price. ETH left the $3,500 zone behind on April 12, signaling the start of a notable decline. It eventually hit its 2-month low — $2,815 — on May 1, striking a bearish hammer on the charts. After a short…
QCP, a digital assets trading firm based in Singapore, has received in-principal approval from Abu Dhabi’s financial regulator. QCP said in April it was expanding to the Middle East. Digital assets trading firm QCP Capital said it received In-Principle Approval from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM). The Singapore-based firm is the latest digital assets company to establish a licensed presence in Abu Dhabi. In April, during Token 2049 in neighboring Dubai, it said it signed a partnership with Further Ventures to expand into the Middle East. “Our intention is to be a responsible…
Marathon Digital (MARA), one of the largest bitcoin miners, missed consensus first-quarter revenue expectations due to operational challenges it faced during the quarter. The company mined just 2,811 bitcoin during the year’s first three months, down 34% from the previous quarter. “Bitcoin production, and therefore revenues, generated during the quarter was negatively impacted by unexpected equipment failures, transmission line maintenance, and higher than anticipated weather-related curtailments at Garden City and other sites during the quarter,” the company said in a statement on Thursday. Marathon reported first quarter earnings per share of $1.26, at first glance easily topping Wall Street estimates…