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Business · SeoulSouth Korean authorities have seized approximately $185 million worth of digital assets from tax delinquents since 2021. The authorities seized the delinquents' accounts or assets based on information received from the cryptocurrency exchanges. The highest amount ofdigital assets seized from a single delinquent stood at 12.49 billion won or $8.87 million.See the Story
South Korea Seizes $184 Million in Crypto Assets From Alleged Tax Dodgers, Reports Reveal
CryptocurrencyIndian Finance Minister Nirmala Sitharaman apparently cautioned about digital currency Saturday. Her proclamations came as India's Enforcement Directorate (ED) tests cryptographic money trades corresponding to its tax evasion examinations. The ED has frozen the resources of no less than two digital money trades this month. Wazirx's bank resources worth $8 million were frozen on Aug. 5 and Vauld's bank and crypto resources worth about $46 million were froze last week.See the Story
Indian Finance Minister Asks Crypto Investors to Exercise Caution as Authorities Investigate Exchanges – Regulation Bitcoin News
Central Bank · PhilippinesFelipe Medalla, the governor of the Bangko Sentral ng Pilipinas (BSP), the country's central bank, shared his policy on cryptocurrency in an interview with Forkast. Medalla advised investors not to invest money they cannot afford to lose in crypto. The central bank governor slammed bitcoin's environmental impact.See the Story
Philippine Central Bank Governor Explains Crypto Policy — 'I Don't Want It Banned' – Regulation Bitcoin News
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CryptocurrencyFTX grew revenue by more than 1,000% year-on-year in 2021, according to leaked documents. Revenue skyrocketed from $89 million in 2020 to $1.02 billion in 2021. The "crypto winter" of losses in 2022 has been blamed in part on investors shunning high-risk assets.See the Story
Crypto Exchange FTX's Revenue Soared 1,000% in 2021: Report
Coverage: 2 sources
Central BankThe Central Bank of Kenya recently increased the central bank rate from 7.5% to 8.25%. Justifying its decision to act, the committee cites growing inflationary pressures and increased global risks, as well as their likely impact on the domestic economy. The MPC warned it may be forced to take further steps should the situation demand it.See the Story
Kenyan Central Bank Raises Key Rate by 75 Basis Points
Central Bank · IranCentral Bank of Iran governor Ali Salehabadi has reminded citizens and businesses it is illegal to buy or sell cryptocurrency in the Islamic Republic. However, authorized persons and entities can legally mine crypto that can be employed for international settlements, the official pointed out. On Tuesday, Deputy Minister of Trade Alireza Peymanpak announced Iran’s first import order using cryptocurrency.See the Story
Crypto Trading, Investing Illegal in Iran, Central Bank Governor Reiterates – Regulation Bitcoin News
Central Bank · IndonesiaBank Indonesia has been studying the possible launch of its central bank digital currency since last year. The new currency is meant to be the only legal tender for digital transactions in the country. Once issued, the CBDC will be distributed to large banks and payment service providers, which will in turn sell digital rupiahs to smaller banking institutions.See the Story
Bank Indonesia Prepares to Issue Digital Rupiah as Legal Tender for Digital Payments – Finance Bitcoin News
EthereumSolana had the most significant annual increase in monthly-active contributors, growing at a compound annual growth rate of 173% since January 1, 2018. The report however noted that the contributor count fell by 9% since last November, coinciding with a fall in the cryptocurrency's price since its peak. Around 40% of projects have not had any venture capital backing.See the Story
Contributors piling into Bitcoin, Ethereum, and Solana since 2018: Report
100% Center coverage: 1 sources
StartupsGolden, a startup that seeks to build a decentralized data hub, has raised $40 million dollars in a Series B funding round. The round, which was led by a16z crypto, will allow the company to keep building its concept. Golden provides a protocol that rewards users for the verification and submission of data.See the Story
Decentralized Web3 Protocol Golden Raises $40 Million Backed by A16z – Defi Bitcoin News
Dallas MavericksShark Tank star Mark Cuban is facing a class action lawsuit for promoting Voyager Digital's crypto products. The plaintiffs claim that Voyager was a massive Ponzi scheme and Cuban duped millions of Americans into investing. This action seeks to hold Ehrlich, Cuban, and his Dallas Mavericks responsible for paying them back.See the Story
Billionaire Mark Cuban Sued for Allegedly Promoting a Massive Crypto 'Ponzi Scheme' – Featured Bitcoin News
BitcoinLawmakers Want CFTC to Be Primary Regulator of Crypto Spot Markets. Three different bills have been introduced in the U.S. this year to empower the CFTC. There has been a longtime debate as to whether the SEC or CFTC should be the primary regulator of the crypto spot markets.See the Story
