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OKX Removes USDT Trading Pairs in Europe OKX, the world's fourth-largest cryptocurrency exchange by trading volume, has stopped offering USDT (Tether) trading pairs in the European Economic Area (EEA). This decision comes just months before the European Union's MiCA regulation comes into effect on December 30, 2024. MiCA will restrict the use of certain stablecoins in the region. OKX has stated that the move "supports the launch of Euro on-ramps for EEA-based customers" and that it only affects a "small subset" of its user base. The exchange has also expanded its product offerings in the EEA, introducing a variety of Euro fiat on-ramps and Euro pairs for customers in the region. While OKX has not explicitly attributed the removal of USDT trading pairs to MiCA, Tether CEO Paolo Ardoino has suggested that the regulatory framework could be a driving factor. What does this mean for OKX users in Europe? - EEA users will no longer be able to trade with USDT trading pairs (this really sucks! 👎). - OKX is offering Euro alternatives, including on-ramps and trading pairs. - MiCA regulation could have a significant impact on the cryptocurrency landscape in Europe. We will continue to monitor the situation and how MiCA affects the cryptocurrency market in Europe. #OKX #USDT #MiCA #Cryptocurrency #Europe #LinkedInFinanceNews

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💫 LATEST ARTICLE 🚨 Ahead of the anticipated crypto market rebound 📈 in 2024, jurisdictions are actively enticing blockchain companies with crypto-friendly regulatory policies. Kazakhstan is one of them. For my latest article for DeCential Media, I spoke with Yagub Zamanov, director of the fintech division of the Astana Financial Services Authority (AFSA). https://lnkd.in/gv75tgmM #crypto #blockchain #cryptoexchange #regulatorycompliance #kazakhstan

Last week, Brussels Blockchain Week organized a talk at TheMerode, bringing together two lawyers - Florian Ernotte and Guillaume Delfosse and Pierre Morizot, the founder of Waltio to discuss various aspects of #cryptocurrency #taxation and #regulation in #Belgium. The discussions covered key areas including #fiscal #concepts, the #categorization of #income, #regulatory issues, and the #practicalities of managing #cryptocurrency #transactions. 👉 Views were not always aligned but I tried to catch the main insights here below : 💥 Declaration for accounts registered abroad (centralized exchanges): Main reasoning concluded that individuals holding cryptocurrencies on centralized exchanges registered abroad are not required to declare these accounts at the NBB. However, it remains essential for individuals to track their transactions meticulously to justify their intentions when converting cryptocurrencies to fiat currencies. 💥 When is the moment to declare? No commoun ground were found on that topic. Could be when converting to fiat currencies or could it also be when converting to stablecoins for example. 💥 How to define your profile of investors ? Defining the profile of investors in cryptocurrencies is complex. The talk highlighted that not all investments in crypto are speculative. The norms of the number of transactions versus the intentions have to be taken into consideration while defining the profile of the investor. The categories of investors, however, remain the same as for traditional investing but the way we define and norm it in the decentralized world could differ and should be defended by the intention of the investor. 💡 Conclusion: The event underscored the need for clarity and careful management in the realm of cryptocurrency taxation. With evolving legislation and the nuanced nature of crypto transactions, investors must stay informed and utilize appropriate tools to ensure accurate and compliant reporting. The insights shared by the experts highlight the importance of understanding both the legal framework and the practicalities of managing crypto assets effectively. Always great to catch up with like minded people 💜 Christophe De Beukelaer Elizaveta Palaznik Anne Jungers Iulianna Romanchyshyna, Dr. iur. Thomas Suau Let's go Furt'her together 🚀

Results of the day , April 08 🔥 Pavel Durov will speak at the Token2049 conference together with the CEO of Tether (USDT) , and services in the TON network have already begun to prepare for the integration of native USDT. 🪙 In 2023, Tether earned approximately $6.2 billion on USDT , which is 78% of what Goldman Sachs ($7.9 billion) made and 72% of Morgan Stanley ($8.5 billion). 🌎 Crypto tax rate in different countries around the world. 🇭🇰 Hong Kong funds are starting an active advertising campaign for spot Bitcoin ETFs in the country - if approved, Hong Kong could attract significant capital from Chinese investors . 🇰🇷 The government of the South Korean city of Pohang plans to confiscate crypto assets from citizens who owe more than $370 to the local tax office. 🇷🇺 Elvira Nabiullina spoke about the future prospects of digital currencies in Russia . 🇵🇾 Paraguay wants to ban Bitcoin mining due to the theft of electricity by illegal enterprises - if the ban is supported, the country’s economy could lose more than $200 million annually . 🎫 In the US, the Powerball lottery hit a jackpot of more than $1.3 billion. ⛔️ The dYdX blockchain was stopped due to an error after implementing a scheduled protocol update. 🕵️♂️ A person sent us a video in which he showed how he lost BTC due to a virus on Windows. #Newscrypto #AI #Bitcoin #Ethereum #Cryptocurrency

May 1-5 Crypto News in Greater China Roundup #crypto #BTC #ETH #bitcon #ethereum #china #hongkong May 1: The launch of BTC- and ETH-ETFs on the Hong Kong bourse by China AMC (华夏基金), one of Mainland China’s largest and State-owned fund managers, opens the door for CNY holders to invest in cryptocurrencies despite the latter being banned on the Mainland. May 2: Mainland Chinese authorities arrested a suspect accused of forging identities to claim a fraudulent airdrop on the StarkNet blockchain platform. May 2: PwC China partnered with Hong Kong blockchain solutions provider Xalts for tokenization infrastructure and programmable assets. May 3: Hong Kong’s three BTC ETFs amassed a total of USD 258 million in their trading debut week. May 4: Hong Kong-based alternative investment firm Yong Rong Asset Management acquired USD 38 million worth of shares in BlackRock’s iShares Bitcoin Trust.

Turkey's Ruling Party Submits Cryptocurrency Bill Draft To Parliament According to Odaily, Turkey's ruling party has submitted a draft bill on cryptocurrency to the parliament. The bill focuses on the licensing and registration of cryptocurrency service providers, aligning with international standards. The draft aims to update existing laws to comprehensively manage the emerging cryptocurrency market. The main areas of focus in the bill include consumer protection, platform transparency, and compliance with financial regulations. The proposed regulations intend to supervise cryptocurrency trading platforms and other service providers in the field, requiring them to obtain licenses from the Turkish Capital Markets Board. The draft law aims to manage cryptocurrency asset service providers, cryptocurrency platform operations, cryptocurrency asset storage, and cryptocurrency asset buying, selling, and transfer transactions that Turkish residents can participate in. The legislation also addresses the classification of cryptocurrencies and projects, ensuring compliance with existing financial regulations. #SEC #ETF #DeFi #Metaverse #crypto #compliance #news #virtualcurrency #law #USA #India #Tokenization #Turkey Disclaimer: Includes thrid-party opinions. No financial advice. May include sponsored content.

Nigeria's Crypto Community Applauds Europe's New Crypto Asset Market Regulation According to Odaily, the cryptocurrency community in Nigeria has expressed appreciation for the newly introduced Crypto Asset Market Authority (MiCA) in Europe, particularly its provisions on stablecoins. They believe these regulations are beneficial and emphasize the importance of integrating crypto projects with local interests to protect the national currency. In a recent conversation, Nigerian data and policy analyst Obinna Uzoije discussed potential lessons that the Economic Community of West African States (ECOWAS) could learn from Europe's MiCA. Uzoije stated that stablecoins are currently the most widely used crypto assets, especially in Africa, where the trading volume of stablecoins surpasses any other form of digital assets. Uzoije believes that a unified set of regulations will provide much-needed clarity for potential cryptocurrency investors by eliminating the need to understand various national regulations and simplifying the investment process between different countries. This clarity can reduce regulatory uncertainty, making the ECOWAS region more attractive to investors, as regulatory uncertainty is a major global obstacle to cryptocurrency investment. #SEC #ETF #DeFi #Metaverse #crypto #compliance #news #virtualcurrency #law #USA #India  #Tokenization  Disclaimer: Includes thrid-party opinions. No financial advice. May include sponsored content. 

South Korea Tightens Grip on Crypto: A New Dawn for Regulatory Oversight 🇰🇷🔗🚫🌍🔍 South Korea's Financial Services Commission (FSC) is taking bold steps to reshape the landscape of cryptocurrency trading. The proposed amendment to the Enforcement Decree of the Credit-Specialized Financial Business Act aims to restrict the use of credit cards for crypto purchases, specifically on foreign exchanges. Citizens and organizations are invited to provide feedback until February 13, 2024, with the potential enactment of these rules in the first half of the year. The amendment aligns with global efforts against illicit crypto activities, reflecting South Korea's commitment to a transparent and secure digital asset market. The cryptocurrency community in South Korea is actively engaged in this regulatory shift, recognizing the delicate balance between market access and the necessity for stringent measures against illegal activities. This change is not just a local affair; it echoes a worldwide trend towards tighter regulation of digital currencies. #cryptoregulation #SouthKorea #DigitalCurrency #trading

Daily Summary, July 15 🐹 Amid the growth of the crypto market, the Fear and Greed Index recovered by 19 points in the last 24 hours and entered the neutral zone. 🇷🇺 The Russian State Duma Committee approved a bill on experimental cryptocurrency settlements and the creation of a platform for their use. 🇨🇳 Mike Novogratz reported that China might lift restrictions on BTC as early as the fourth quarter of 2024. ⚒ In July, public mining companies reported their performance results for the past month. 🇷🇺 US Treasury Secretary Janet Yellen expressed concerns about Russia using cryptocurrencies to circumvent sanctions. 🪙 The total reserves of Ethereum on centralized crypto exchanges continue to decline and are already at their lowest levels this year. 🐋 A Bitcoin whale who received 1000 BTC in 2012 has come out of hibernation after 12 years and transferred all coins to a new address. 🇰🇷 South Korea wants to delay cryptocurrency taxation for 3 years due to fears of investors moving to other jurisdictions. 🪙 Global spot Bitcoin ETFs have already accumulated over 1,050,000 BTC. ❄️ Today, Tether froze 3 wallets holding 140,110,241 USDT. 🪙 In the second half of 2024, 10 projects with investments from Binance are expected to launch cryptocurrencies. 🪙 Tether, the issuer of USDT, has hired the former Chief Economist of Chainalysis "to improve communication with regulators." #Crypto #Bitcoin #Ethereum #Blockchain #CryptoNews #BTC #ETH #CryptoRegulation #Mining #China #Russia #USDT #Binance #Tether #Cryptocurrency