In Singapore, DBS Bank’s subsidiary brokerage arm will offer cryptocurrency services. They will provide asset management businesses with their services in order to purchase crypto assets. The MAS granted DBS Bank a license, according to the press statement ( Monetary Authority of Singapore). They now have complete permission to offer digital token-based payment and trading…
The Iranian National Tax Administration (INTA) has put forward a proposal to tax digital asset exchanges operating in the country. The authority calls for the legalization of their activities, fearing restrictions could negatively affect tax collection. Tax Agency Wants to Obtain User Data From Authorized Exchanges Seeing an opportunity to use exchange transactions as a…
Cryptocurrencies are undeniably one of the most significant technological advances in recent years, with the potential to destabilize the worldwide centralized finance environment. Cryptocurrencies have the potential to transform the global financial sector due to the underlying blockchain technology and a totally decentralized environment. Cryptocurrencies can not only reduce transaction costs by eliminating intermediaries, but…
Kucoin, one of the leading crypto exchanges, suffered a hacking incident in 2020 where over $250 million was stolen. However, immediately after the hacking was reported, Kucoin began cooperating with various players from the crypto industry. This cooperation ultimately led to the recovery of a large chunk of the stolen funds. Kucoin’s Recovery From Attack…
While non-fungible token (NFT) assets have been raking in millions, numerous NFT projects like Cryptopunks, Meebits, and Bored Ape Yacht Club (BAYC) have been outpacing the competition. The BAYC NFT collectibles is a collection of 10,000 Bored Ape NFTs and just recently the project sales volume has risen exponentially as it rests just below Cryptopunks…
Poly Network hacker returns $258M, conducts AMA on how it went down $258 million worth of stolen crypto assets have been returned so far and the hacker claims they are keeping the rest of the funds safe while they negotiate with Poly. The Poly Network hacker has now returned $258 million to the cross-chain DeFi…
