Best crypto memes of the day – August 9th

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• South Korea bans Haru Invest executives travel amid crypto fraud investigation

  TL;DR Breakdown South Korean authorities have issued a travel ban to executives of Haru Invest in connection with fraud charges. The travel prohibition comes against a broader background of increased scrutiny and regulation in the crypto business following the collapse of FTX and the arrest of its CEO, Sam Bankman Fried. Haru Invest has ceased withdrawals for its 80,000 subscribers in 140 countries and laid off around 100 employees. Description In a significant turn of events for the crypto sector, South Korea has banned the management of notable crypto business Haru Invest from leaving the country. Concerns about investor safety and regulatory compliance in digital assets prompted this action following a fraud probe against the company. This decision sends a solid message to would-be wrongdoers … Read more In a significant turn of events for the crypto sector, South Korea has banned the management of notable crypto business Haru Invest from leaving the country. Concerns about investor safety and regulatory compliance in digital assets prompted this action following a fraud probe against the company. This decision sends a solid message…

  Article 2023年6月29日

• Indian crypto exchange CoinSwitch trims workforce amid market slump

  TL;DR Breakdown CoinSwitch, an Indian cryptocurrency exchange, has laid off 44 customer support staff, making up about 7% of its total workforce, due to a significant decrease in customer queries. The layoffs follow a similar trend in the crypto industry, with another Indian crypto exchange, CoinDCX, recently laying off 12% of its workforce, citing a prolonged bear market and tax implications. Despite the downsizing, CoinSwitch remains optimistic about rehiring affected employees for future roles, suggesting that the layoffs are a response to broader market conditions rather than company-specific issues. Description CoinSwitch, an Indian cryptocurrency exchange, laid off 44 employees from its customer support team, constituting approximately 7% of its total workforce. The company cited a significant reduction in customer queries and a broader slump in the cryptocurrency market as the primary reasons for the downsizing. Indian crypto exchange CoinSwitch cuts support team in response to … Read more CoinSwitch, an Indian cryptocurrency exchange, laid off 44 employees from its customer support team, constituting approximately 7% of its total workforce. The company cited a significant reduction in customer queries and a…

  Article 2023年8月29日

• Coinbase Co-founder embraces Bitcoin Lightning to propel mainstream adoption

  TL;DR Breakdown Coinbase commits to embracing Bitcoin Lightning, enhancing its potential for mainstream use. Armstrong refutes neglect claims, highlighting Coinbase’s substantial Bitcoin onboarding efforts. Dorsey initially criticizes, but later shows willingness to collaborate with Coinbase on Lightning. Description Coinbase Co-founder Brian Armstrong announced the company’s intention to embrace Bitcoin Lightning, further bolstering Bitcoin’s potential as a mainstream payment option. Armstrong’s statement came in response to accusations that Coinbase had ignored Bitcoin’s Layer 2 technology, the Lightning Network. “We’re investigating the most efficient means of incorporating Lightning,” said Armstrong. “It’s not easy, but it’s … Read more Coinbase Co-founder Brian Armstrong announced the company’s intention to embrace Bitcoin Lightning, further bolstering Bitcoin’s potential as a mainstream payment option. Armstrong’s statement came in response to accusations that Coinbase had ignored Bitcoin’s Layer 2 technology, the Lightning Network. “We’re investigating the most efficient means of incorporating Lightning,” said Armstrong. “It’s not easy, but it’s work I believe you should put in. Bitcoin as a mainstream payment option has my full support.” We’re looking into how to best add Lightning. It’s non-trivial, but I…

  Article 2023年8月3日

• US crypto tax plan will have decentralized exchanges trapped

  Description The crypto world finds itself on the edge as the U.S. Treasury Department unravels its definition of a “broker” in the sphere. This newly released framework stands as a potential barricade for decentralized finance platforms. While the move attempts to bring clarity to the murky waters of crypto tax regulations, it also hints at the … Read more The crypto world finds itself on the edge as the U.S. Treasury Department unravels its definition of a “broker” in the sphere. This newly released framework stands as a potential barricade for decentralized finance platforms. While the move attempts to bring clarity to the murky waters of crypto tax regulations, it also hints at the inherent challenges decentralized exchanges (DEXs) might face. A Dive into the New Provisions Centralized crypto exchanges, some hosted wallet providers, and even a few decentralized platforms now find themselves tethered to tax reporting mandates. Evidently, the Treasury’s approach attempts to standardize reporting across the crypto space. This is evident with the introduction of the new 1099-DA tax form, designed specifically to cater to the unique nature…

  Article 2023年8月26日

• Coinbase gains Bank of Spain’s nod for Bitcoin exchange expansion

  TL;DR Breakdown Coinbase receives official recognition from the Bank of Spain as a Bitcoin exchange and custodial wallet provider. With the approval, Coinbase can now serve individual and enterprise customers in Spain, offering a range of crypto services. The MiCA regulation in the European Union provides much-needed clarity for the crypto industry, signaling positive legislative support. Description Coinbase, the renowned crypto exchange, has achieved a significant milestone in its global expansion. The Bank of Spain officially recognized and approved Coinbase as a cryptocurrency exchange and custodial wallet provider. This move is a part of Coinbase’s ambitious “Go Broad, Go Deep” strategy for international growth, specifically targeting Phase II in Spain. Moreover, on … Read more Coinbase, the renowned crypto exchange, has achieved a significant milestone in its global expansion. The Bank of Spain officially recognized and approved Coinbase as a cryptocurrency exchange and custodial wallet provider. This move is a part of Coinbase’s ambitious “Go Broad, Go Deep” strategy for international growth, specifically targeting Phase II in Spain. Moreover, on September 23rd, Coinbase shared this development through a blog post….

  Article 2023年9月24日