Author: NBTC
South Korean crypto exchange Bithumb Korea has secured a key legal victory against the country’s tax authorities. A high court ruled that Bithumb’s virtual assets are not to be classified as inventory, offering much-needed clarity to the digital asset industry. The dispute stemmed from Bithumb’s change in its virtual asset valuation method between 2014 and 2017. Tax authorities claimed this led to underreported profits. However, the Seoul High Court sided with Bithumb, emphasizing the lack of regulations at the time. This ruling comes amidst South Korea’s increasing crypto scrutiny, with potential delistings for non-compliant assets looming. Crucially, the court also…
Binance has completed the integration of Yield Guild Games on the Ronin network. Deposits and withdrawals are now available to users. This partnership between the three platforms aims to boost the GameFi and play-to-earn opportunities for the players. BIG NEWS!Super excited to announce that Binance has officially integrated YGG on Ronin Network!Seamless Deposits and Withdrawals are now open on the largest cryptocurrency exchange! Read more: https://t.co/47Bc7EAYzG#TogetherWePlay #YGG #Ronin #Binance pic.twitter.com/skFWIj5fGp — Yield Guild Games (@YieldGuild) August 27, 2024 Yield Guild Games (YGG) is a gaming guild focused on blockchain play-to-earn games. It’s a community that invests in NFT assets and…
Genesis Digital Assets (GDA), one of the world’s largest Bitcoin mining companies, has announced plans to expand its recently launched Texas data centre to 400 megawatts. The ambitious phase two scaling highlights GDA’s commitment to Texas as a mining hub, leveraging the state’s renewable energy and pro-innovation policies. GDA’s Rowdy Data Center in Vernon is currently operational at 60 MW, supported by the Oklaunion Substation. The site benefits from substantial local wind power and is located near Vernon city in Wilbarger County. The data centre utilizes grid power with renewable energy sources for its operations. “GDA’s business is a natural…
The Bitcoin (BTC) price continues to move sideways above the current support at $57,000, but below the moving average lines. Long-term prediction of the Bitcoin price: fluctuating Since August 8, the upward correction has stalled at the moving average lines or the resistance zone at $63,000. The Bitcoin price has been fluctuating within a small range above the current support level but below the moving average lines for the past week. The largest cryptocurrency will resume its uptrend if buyers keep the price above the moving average lines. The bullish momentum will continue up to the $67,000 high. Should the…
Ethereum lags behind Bitcoin and altcoins, trading below its 20-week simple moving average. Analyst Benjamin Cowen suggests Ethereum could rally to $3,000 amid positive market trends. Ethereum’s current support is $2,681, with potential resistance at $2,930 for a breakout. Ethereum, the second-largest cryptocurrency by market cap, has been lagging behind other major cryptocurrencies, sitting well below its 20-week Simple Moving Average (SMA). With Bitcoin (BTC) and other altcoins already hitting their bull market support bands, crypto analyst Benjamin Cowen suggests that ETH might soon close the gap. With the Federal Reserve’s expected rate cuts just weeks away, could Ethereum rally…
TRON burned over 11 million TRX, showcasing a strong commitment to deflation and value growth. TRON leads stablecoin transactions with a 97.62% market share, surpassing Ethereum and other blockchains. On July 2nd, TRON made headlines by burning 11,531,634 TRX tokens. This important action shows the dedication of the network to deflation and value expansion. With a net negative production ratio of -6,465,123, TRON keeps its top position in the blockchain sector. These kind of token burns are vital in lowering supply and maybe raising the value of the surviving tokens, thereby helping the ecosystem and the holders. #TRON just burned…
The UK Treasury and the Financial Conduct Authority (FCA) have raised concerns over a looming fraud refund scheme that could bring significant challenges to the financial sector, CityA.M reported. The Payment Systems Regulator (PSR)’s new rules, set to take effect on October 7th, would require banks and fintech firms to fully reimburse victims of authorized push payment (APP) fraud up to a cap of £415,000, splitting the cost between the sending and receiving firms. However, concerns are mounting that the scheme could inflict long-lasting damage on the industry, particularly on smaller players. APP fraud, which cost Britons nearly £460 million…
African crypto platform Quidax announced Tuesday that it is the first in Nigeria to receive a provisional operating license as a digital assets exchange from national regulators. It’s a significant step in the direction of crypto acceptance from the government, where both the Nigerian SEC and central bank have a history of hostility toward the industry. “The granting of the crypto exchange license shows that the government is open to innovation and aims to build trust in the budding crypto ecosystem,” Quidax co-founder and CEO Buchi Okoro told Decrypt. Okoro said that the SEC’s latest action isn’t so much a…
Life embodies evolution, change, adaptation, and the willingness to thrive. Throughout history, we have experienced numerous changes that have forced society to evolve, adapt, and grow. From the inception of trading to the COVID-19 pandemic and beyond, we have witnessed events that have transformed the world. One of the most important and influential sectors in the world is finance. The world of finance has been shaped by pivotal events that have impacted economies, influenced policies, and altered the course of global markets. One of the most exceptional developments in the past 15 years is the invention of Bitcoin and the…
Bitcoin price trades broadly stable, extending its consolidation between $57,000 and $62,000, and momentum indicators suggest an impending bearish trend. Data Nerd data shows Galaxy Digital withdrew on Monday 400 BTC worth $23.4 million from Binance on Monday. On-chain data shows miners’ selling activity is decreasing. Bitcoin (BTC) trades around $58,000 on Monday, down 0.7% on the day and extending the consolidation phase between $57,000 and $62,000 seen in the past ten days. From a technical perspective, the bearish thesis still prevails as BTC struggles to overcome key resistance levels and momentum indicators look weak. Still, investors’ behavior and data…