Cryptocurrency Market

Cryptocurrency Market

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  • Market Cap: $2,407,087,163,783.41
  • 24h Vol: $55,445,170,526.62
  • BTC Dominance: 56.57%

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south-african-tax-authorities-scrutinize-crypto-traders-amid-compliance-uncertainty

South African Tax Authorities Scrutinize Crypto Traders Amid Compliance Uncertainty

Leave a Comment / Bitcoin, capital gains, crypto exchanges, Crypto Hacked, crypto taxes, Cryptocurrency, Ethereum, News Bytes, Newsbyte-3 / / / , , , , ,

South African crypto traders have reportedly started receiving notices from the South African Revenue Service (SARS) indicating that their tax affairs are under review. The revenue collector is gathering information from various crypto-asset exchanges to assess compliance. Traders who fail to provide requested information could face criminal charges under the Tax Administration Act. SARS may […]

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zimbabwean-regulators-develop-framework-for-virtual-assets-trading

Zimbabwean Regulators Develop Framework for Virtual Assets Trading

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The Securities and Exchange Commission of Zimbabwe (SECZ) and the Reserve Bank of Zimbabwe (RBZ) are reportedly developing a framework for virtual asset trading. The framework aims to provide clear legislation, client protection under the Data Protection Act, and educational support. Challenges include infrastructural investment and licensing fees for foreign-supplied systems. An informal virtual asset

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Tanzania Targets Crypto Traders With Proposed Income Tax Act Amendment

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Tanzania plans to amend its Income Tax Act to tax crypto trades. The proposal includes a three per cent withholding tax on income from digital asset transactions. Digital platform owners or facilitators of digital asset transfers will act as withholding agents. Foreign citizens operating such platforms must register under Tanzania’s Simplified Tax Regime. The government

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japanese-regulator-issues-warning-to-unregistered-crypto-platform-lbank-exchange

Japanese Regulator Issues Warning to Unregistered Crypto Platform Lbank Exchange

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The Financial Services Agency (FSA) of Japan issued a warning to Lbank Exchange, an overseas cryptocurrency platform, for operating without registration. Lbank, which ranks 56th in trading volume according to Coingecko, has been offering services to Japanese residents despite reportedly having an unknown address and representative. This action follows similar warnings issued by the FSA

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abu-dhabi-regulator,-adgm,-signs-digital-assets-mou-with-bermuda-monetary-authority

Abu Dhabi Regulator, ADGM, Signs Digital Assets MoU With Bermuda Monetary Authority

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The Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM) and the Bermuda Monetary Authority (BMA) have signed a digital assets Memorandum of Understanding (MOU). This MOU establishes a framework for collaboration between the two regulatory authorities to support the creation and effective supervision of digital assets entities across their jurisdictions. It

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intel-partners-with-african-development-bank-to-train-3-million-in-advanced-ai-skills

Intel Partners With African Development Bank to Train 3 Million in Advanced AI Skills

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The African Development Bank (ADB) and Intel have announced a significant partnership to train three million Africans and 30,000 government officials in advanced artificial intelligence (AI) skills. According to the ADB, this training is expected to revolutionize the African digital ecosystem and contribute to economic growth. The program will tackle socio-economic challenges and enhance productivity

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south-african-police-nab-alleged-mastermind-of-metaverse-ponzi-scheme

South African Police Nab Alleged Mastermind of Metaverse Ponzi Scheme

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Neil Leon De Waal, a key figure in the GS Partners metaverse fraud case, was reportedly arrested by South African law enforcement in late May. He was subsequently released on bail on June 3. Authorities began investigating De Waal following a complaint from one of his victims. The complainant, who lives in Benoni, had to

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claims-against-collapsed-south-african-bitcoin-investment-firm-rise-to-$84.5-million

Claims Against Collapsed South African Bitcoin Investment Firm Rise to $84.5 Million

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Claims against Mirror Trading International (MTI) have reached over $84.5 million (ZAR1.6 billion), with more than 8,000 proven creditors as of the end of April. The MTI estate still holds around $33.7 million in its accounts. Legal action is underway in multiple countries to recover withdrawals made by those who profited from the scheme. MTI

Claims Against Collapsed South African Bitcoin Investment Firm Rise to $84.5 Million Read More »

nigeria’s-anti-graft-agency-announces-reward-for-whistleblowers-exposing-local-currency-abusers

Nigeria’s Anti-Graft Agency Announces Reward for Whistleblowers Exposing Local Currency Abusers

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The Economic and Financial Crimes Commission (EFCC) in Nigeria has announced a 5% reward for whistleblowers who provide credible information leading to the prosecution of offenders involved in naira abuse. Dele Oyewale, the EFCC spokesman, emphasized the importance of enforcing the law and protecting the economy from negative impacts. The commission has already secured nearly

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liquidators-of-south-african-btc-scam-allocate-nearly-40%-of-recovered-funds-to-legal-fees-and-taxes

Liquidators of South African BTC Scam Allocate Nearly 40% of Recovered Funds to Legal Fees and Taxes

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Out of the approximately $60 million (ZAR1.1 billion) that was recovered to pay back victims of the collapsed bitcoin investment platform Mirror Trading International (MTI), only $34.3 million remains. Court documents reportedly state that liquidators have used the recovered funds to pay an outstanding tax liability of $15.2 million and legal fees of $7.78 million.

Liquidators of South African BTC Scam Allocate Nearly 40% of Recovered Funds to Legal Fees and Taxes Read More »