Renowned author Robert Kiyosaki, famous for his personal finance book “Rich Dad Poor Dad,” has expressed pessimism about the future of the US dollar following reports that BRICS nations are planning to introduce a gold-backed currency. According to Russia Today (RT), the official announcement of this agreement is expected to take place in August during
Blockchain
South Korean companies that hold or issue cryptocurrencies will need to provide comprehensive information about their transactions to the financial regulator starting from January 2024. The Financial Services Commission (FSC) of South Korea announced this requirement on Tuesday, stating that domestic firms involved in crypto activities must ensure complete disclosure under the new accounting rules.
The recent lawsuit filed by Cameron and Tyler Winklevoss, the billionaire twins who own the crypto exchange Gemini, against Barry Silbert’s cryptocurrency conglomerate Digital Currency Group (DCG) may have an ulterior motive, according to a recent article in Fortune. The article suggests that the lawsuit might not even make it to court and instead could
The Federal Tax Service (FTS) in Russia has stated that citizens can pay taxes on their cryptocurrency earnings, even though tokens have no legal status in the country. This latest development adds to the confusion surrounding the government’s stance on cryptocurrencies. While the Central Bank is in favor of a complete ban on all crypto-related
Grayscale, a renowned digital asset management company, has recently included Lido’s liquid staking protocol’s governance token in its DeFi fund. The firm announced that it has made adjustments to the fund’s portfolio by selling a specific amount of the existing Fund Components based on their respective weightings. The cash proceeds obtained from the sales were
The recent enactment of the European Union’s Markets in Crypto-Assets (MiCA) legislation on May 31 has both excited and concerned the crypto industry. While hailed as a groundbreaking regulatory framework for cryptocurrencies, there is growing apprehension regarding one specific aspect: the introduction of a daily transaction cap on private stablecoins. This limit, set at 200
Digital Currency Group (DCG) has responded to a lawsuit filed by Gemini, accusing the company of defrauding its creditors. In the lawsuit, Gemini claims that DCG and its CEO, Barry Silbert, orchestrated and directly perpetrated a fraud against creditors. Specifically, Gemini alleges that Silbert pushed to continue the Earn program despite being aware of Genesis’
Crypto exchange Gemini, led by the Winklevoss twins, has recently filed a lawsuit against the conglomerate Digital Currency Group (DCG) and its CEO Barry Silbert. The lawsuit accuses Silbert of defrauding creditors, specifically Gemini, the largest creditor of DCG’s subsidiary, bankrupt crypto lending firm Genesis. According to the lawsuit, Silbert committed fraud by continuing the
Executives in the crypto industry remain positive about the long-term prospects of the sector, despite a decline in venture capital funding. According to data from RootData, a crypto data provider, the second quarter of last year saw the lowest amount of funds raised by crypto firms since tracking began in Q3 2021. During this period,
The South Korean financial regulator has made it mandatory for its employees to declare their cryptocurrency holdings following the “Coin Gate” scandal. Lawmakers in the country have faced allegations of insider trading, with one Member of Parliament (MP) accused of selling tokens prior to the implementation of a new crypto regulation. The MP was discovered