Tag: Crypto

South Korea Opposition Party Proposes Scrapping Crypto Tax

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South Korea’s main opposition party has proposed scrapping a planned crypto tax ahead of its 2027 rollout, citing fairness, double taxation and enforcement concerns. According to a Thursday report by local media outlet eDaily, the conservative People Power Party (PPP) introduced a bill to amend the country’s Income Tax Act and remove provisions on digital asset income, aiming to abolish a planned tax on crypto asset gains ahead of its 2027 implementation. Under the upcoming rules, crypto gains exceeding 2.5 million Korean won will be subject to a 20% income…

Canada Targeting Crypto Firms With Increased Regulatory Action

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Canada’s financial intelligence unit has revoked the registrations of 50 money services businesses (MSBs) so far this year, with 47 related to crypto, and the minister of finance says it will continue cracking down. Canada’s Financial Transactions and Reports Analysis Centre (FINTRAC) said on Monday that it took its most recent action, revoking 23 MSB registrations. Minister of Finance François-Philippe Champagne said in a statement on Tuesday that it’s part of the government’s latest effort to combat money laundering, with FINTRAC also “strengthening enforcement and increasing transparency on compliance actions.”…

Crypto Traders Eye ‘Bullish Relief Rally’ After Fed Interest Rate Hold

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Crypto traders have become hopeful for a market rally after the US Federal Reserve held interest rates steady on Wednesday, according to crypto sentiment platform Santiment. However, analysts are split on whether a near-term market surge is a reliable signal for traders. “For now, traders are expecting a bullish relief rally in spite of no changes being made,” Santiment said in an X post on Wednesday, pointing to an increase in bullish sentiment among crypto market participants on social media who are linking the Fed’s steady rates to a potential…

Algorand Foundation cuts 25% of staff as macro pressure and crypto slump weigh on operations

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The Algorand Foundation said Wednesday it is reducing its workforce by 25% in response to what it described as an uncertain global macro environment and a broader downturn in crypto markets, marking one of the latest cost-cutting moves across the digital asset sector. Today, the Algorand Foundation made the difficult decision to reduce our workforce by 25%. This decision was not taken lightly and is in response to the uncertain global macro environment as well as the broader downturn in crypto markets. These employees have been best-in-class… — Algorand Foundation…

Crypto Fear & Greed Index Rises as $2B in Liquidity Enters Markets

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The Crypto Fear & Greed Index remained at 26 on Wednesday, after rising to 28, a day earlier, ending the indicators’ 48-day stretch in the “extreme fear” zone. The Crypto Fear & Greed index tracks market sentiment using volatility, momentum, volume, and social data. Any reading below 25 signals extreme fear, while higher values reflect an improving risk appetite. Crypto Fear & Greed Index. Source: alternative.me The index reading points to an improvement in market sentiment this week, marking its first exit from extreme fear in over six weeks. The…

Crypto Ties a Liability in Illinois Primary

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Not all voters are sold on crypto, and in Illinois, the crypto industry lobby failed to secure a victory, despite spending millions.  On Tuesday, Illinois Lieutenant Governor Juliana Stratton won a primary election for a rare open US Senate seat in her state. She is expected to win in the general election and take the seat of retiring Democratic Senator Dick Durbin. In the primary, she won over two other candidates, Representative Raja Krishnamoorthi, who currently represents Illinois’ 8th Congressional district, and Representative Robin Kelly from Illinois’ 2nd.      The crypto…

UK Has Unique Opportunity to Merge EU, US Crypto Regimes: Circle Exec

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Circle’s policy chief Dante Disparte told a United Kingdom House of Lords committee that the UK has a chance to build its crypto regime by combining the clarity of the European Union’s Markets in Crypto-Assets Regulation (MiCA) with elements of the new US stablecoin framework. “The model is clear: take the best of both and make it distinctly British,” Disparte said during a Wednesday meeting of the House of Lords Financial Services Regulation Committee. “From Europe, take clarity, definitions, licensing, governance and strong consumer protection from the US and the…

Crypto Firms Call For More DeFi Courses at US Colleges

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Twenty-one crypto organizations have signed an open letter urging US colleges to incorporate decentralized finance into their curricula, arguing that there will be massive demand for crypto talent on Wall Street. “Our purpose with this letter is simple: to respectfully urge higher education institutions across the United States to further integrate digital assets, blockchain, and decentralized finance into their business and legal curricula,” the open letter reads, which was published on Wednesday. The campaign was spearheaded by decentralized protocol aggregator 1Inch, with signatories including the Solana Policy Institute, Blockchain Association,…

Crypto Cards Aren’t The Future, But Onchain Credit Is

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Opinion by: Vikram Arun, co-founder and CEO of Superform Crypto cards aren’t the future of payments. They’re a temporary interface for a world that hasn’t fully accepted cryptocurrencies. They rely on banks as issuers, Visa or Mastercard as gatekeepers, and compliance rules that look exactly like TradFi.  In most cases, crypto is sold into idle USD, the assets stop earning and every swipe creates a taxable event.  That’s not innovation. That’s a debit card with extra steps.  As digital banks built with blockchain rails scale, crypto cards that behave like…

UK Parliamentary Committee Urges Ban on Political Crypto Donations

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A cross-party parliamentary committee in the United Kingdom has urged the government to impose an immediate moratorium on cryptocurrency donations to political parties until stronger safeguards are in place. In a report published on Wednesday, the Joint Committee on the National Security Strategy said the government should amend the Representation of the People Bill to impose an “immediate moratorium on crypto donations” until the Electoral Commission produces statutory guidance ahead of the next general election, due by August 2029. The committee also called for the creation of a Political Finance…