TL;DR Breakdown A bill recently passed a preliminary reading in the Israel parliament, the Knesset, which could grant foreign residents an exemption from capital gains taxes on the sale of digital currencies. The explanatory note accompanying the bill highlights the regulatory gap in the country’s digital currency industry and proposes legislative amendments to address this issue. One notable aspect of the bill is the separation of the terms “digital currency” and “security” which is in contrast to the proposed regulatory framework put forward by the Israeli Securities Authority (ISA). Description A bill recently passed a preliminary reading in the Israeli parliament, the Knesset, which could grant foreign residents an exemption from capital gains taxes on the sale of digital currencies. The bill, sponsored by Likud party member Dan Ilouz, also seeks to reduce the tax rate on crypto bonuses for employees from the current 50% … Read more A bill recently passed a preliminary reading in the Israeli parliament, the Knesset, which could grant foreign residents an exemption from capital gains taxes on the sale of digital currencies. The bill,…

TL;DR Breakdown Binance faces regulatory challenges in France and the Netherlands, with investigations and failed licensing attempts impacting its operations in the European market. To address these hurdles, Binance is hiring a policy officer who will be responsible for developing new policies, standards, and guidelines while effectively communicating complex information to regulators. Description Crypto giant Binance has encountered a series of setbacks in its European operations, prompting the company to search for a policy officer who will be responsible for developing and implementing new policies, guidelines, and procedures. As Binance faces investigations and regulatory roadblocks in France and the Netherlands, the new hire will play a pivotal role … Read more Crypto giant Binance has encountered a series of setbacks in its European operations, prompting the company to search for a policy officer who will be responsible for developing and implementing new policies, guidelines, and procedures. As Binance faces investigations and regulatory roadblocks in France and the Netherlands, the new hire will play a pivotal role in addressing these challenges. With a focus on articulating complex information effectively, the policy…

TL;DR Breakdown Investigators from the CFTC have concluded that the now-defunct crypto lending platform, Celsius Network, and its former CEO, Alex Mashinsky, allegedly breached U.S. regulations prior to the company’s collapse. The ongoing investigation into Celsius Network underlines the increasing scrutiny and regulatory challenges that cryptocurrency businesses face in the United States Description In a recent development, investigators at the U.S. Commodity Futures Trading Commission (CFTC) have reportedly concluded that the defunct crypto lending platform, Celsius Network, and its former CEO, Alex Mashinsky, breached U.S. rules before the company’s collapse. In a noteworthy development, investigators from the U.S. Commodity Futures Trading Commission (CFTC) have determined that the bankrupt … Read more In a recent development, investigators at the U.S. Commodity Futures Trading Commission (CFTC) have reportedly concluded that the defunct crypto lending platform, Celsius Network, and its former CEO, Alex Mashinsky, breached U.S. rules before the company’s collapse. In a noteworthy development, investigators from the U.S. Commodity Futures Trading Commission (CFTC) have determined that the bankrupt cryptocurrency lending company, Celsius Network, along with its former Chief Executive Officer, Alex Mashinsky,…

TL;DR Breakdown Coinbase director Conor Grogan uncovers $322,000 worth of dormant crypto for a stranger Grogan found 20 addresses with over $250,000 worth of crypto in the wallets that were untouched for years Description Coinbase director Conor Grogan, in a recent Twitter poster, has explained how he uncovered $322,000 worth of dormant crypto for a stranger. During the Ethereum fork of 2016, it led to the Ethereum Classic(ETC) creation. All investors that held ether on-chain received an identical ETC amount. According to Grogan, most people have yet to touch … Read more Coinbase director Conor Grogan, in a recent Twitter poster, has explained how he uncovered $322,000 worth of dormant crypto for a stranger. During the Ethereum fork of 2016, it led to the Ethereum Classic(ETC) creation. All investors that held ether on-chain received an identical ETC amount. According to Grogan, most people have yet to touch these funds and as a result, has recovered funds in six-figure amounts for investors in the past. In a screenshot after that, he shared that he previously notified a Twitter user of 23…

TL;DR Breakdown Binance CEO Changpeng Zhao forecasts the next Bitcoin bull run to take place in 2025, based on the historical pattern of the four-year cycle associated with Bitcoin’s halving events. Zhao welcomes BlackRock’s entry into the crypto market, seeing it as beneficial to the industry’s growth, and reassures that Binance is committed to addressing ongoing regulatory concerns. Description In a recent interactive Twitter session, Changpeng “CZ” Zhao, the CEO of the leading cryptocurrency exchange Binance, made a bold prediction for the next Bitcoin bull market. The information session, held on July 5, covered a range of topics, including traditional financial institution BlackRock’s entry into the crypto market and ongoing regulatory concerns involving his … Read more In a recent interactive Twitter session, Changpeng “CZ” Zhao, the CEO of the leading cryptocurrency exchange Binance, made a bold prediction for the next Bitcoin bull market. The information session, held on July 5, covered a range of topics, including traditional financial institution BlackRock’s entry into the crypto market and ongoing regulatory concerns involving his own platform. According to Zhao, the Bitcoin bull…

TL;DR Breakdown US officials are contemplating imposing restrictions on China’s access to cloud computing services as a measure to safeguard advanced technology in the country. The move aims to address concerns that Chinese companies may have been evading existing chip export sanctions through cloud services, effectively circumventing restrictions. Sources close to the matter have suggested that the Commerce Department is expected to announce these new measures in the coming weeks. Description According to a recent report in The Wall Street Journal, US officials are contemplating imposing restrictions on China’s access to cloud computing services as a measure to safeguard advanced technology in the country. The proposal put forth by the Biden Administration suggests implementing controls on the level of access granted to Chinese companies for U.S.-based … Read more According to a recent report in The Wall Street Journal, US officials are contemplating imposing restrictions on China’s access to cloud computing services as a measure to safeguard advanced technology in the country. The proposal put forth by the Biden Administration suggests implementing controls on the level of access granted to…

TL;DR Breakdown June saw a 14.2% rise in combined spot and derivatives trading volumes, marking the first increase in three months. Spot trading volume grew by 16.4% to $575bn, although still at historically low levels. Derivatives trading volume also increased by 13.7% to $2.13tn, but its market share fell slightly. Binance continues to dominate crypto trading, although its market share is declining. Description June was a significant month for the world of cryptocurrency. An interesting wave of optimism washed over the crypto market, bringing about a rise in crypto trading volumes and shedding some positive light after a period of uncertainty. A potent mix of increased activity by retail and institutional investors, high-profile filings for Bitcoin ETFs, and … Read more June was a significant month for the world of cryptocurrency. An interesting wave of optimism washed over the crypto market, bringing about a rise in crypto trading volumes and shedding some positive light after a period of uncertainty. A potent mix of increased activity by retail and institutional investors, high-profile filings for Bitcoin ETFs, and a growing acceptance of…

TL;DR Breakdown Binance CSO Jimmy Su has described the step-by-step process of crypto theft in the darknet. Analysts advise crypto users to safeguard their funds and assets. Description In the murky depths of the dark web, a thriving ecosystem of hackers has set their sights on cryptocurrency users with lax security practices. Jimmy Su, the Binance CSO, a leading cryptocurrency exchange, revealed that hackers have shifted their attention to crypto end-users in recent years. While exchanges have bolstered their security measures, hackers adapt … Read more In the murky depths of the dark web, a thriving ecosystem of hackers has set their sights on cryptocurrency users with lax security practices. Jimmy Su, the Binance CSO, a leading cryptocurrency exchange, revealed that hackers have shifted their attention to crypto end-users in recent years. While exchanges have bolstered their security measures, hackers adapt by exploiting the weakest links in the chain. Su described this hacker community as a well-established ecosystem comprising four distinct layers: intelligence gatherers, data refiners, hackers, and money launderers. The Binance CSO lays down the steps in crypto theft…

TL;DR Breakdown Crypto Twitter viewership on Google has dropped drastically following the enforcement of the new rate limit. The crypto community reacts as moves to alternative platforms begin. Description Twitter’s implementation of new rate limits has had a significant effect on the indexing and display of crypto Twitter’s tweets on Google’s search engine, resulting in a reduced reach of information shared on the microblogging site. Recent reports from Search Engine Land, an industry outlet focused on web search, reveal that Google Search has witnessed … Read more Twitter’s implementation of new rate limits has had a significant effect on the indexing and display of crypto Twitter’s tweets on Google’s search engine, resulting in a reduced reach of information shared on the microblogging site. Recent reports from Search Engine Land, an industry outlet focused on web search, reveal that Google Search has witnessed a sharp decline in the number of indexed URLs from Twitter over the past few days. On July 3, the number of indexed tweets dropped by over 60%, declining from 471 million to 180 million. Crypto Twitter suffers…

TL;DR Breakdown HSBC is initiating trials of quantum encryption technology, potentially revolutionizing banking security. Quantum “metro” network developed by Toshiba and BT, secures transactions using quantum cryptography. Quantum key distribution (QKD) allows secure data transfer; any interception becomes instantly detectable. Description From the misty avenues of London, a remarkable technological evolution is taking shape in the world of finance. As the city’s double-decker buses and black cabs proceed with their routine buzz, an extraordinary narrative unfolds at the headquarters of HSBC. This tale is one of financial institutions stepping into the quantum era, spearheaded by HSBC’s … Read more From the misty avenues of London, a remarkable technological evolution is taking shape in the world of finance. As the city’s double-decker buses and black cabs proceed with their routine buzz, an extraordinary narrative unfolds at the headquarters of HSBC. This tale is one of financial institutions stepping into the quantum era, spearheaded by HSBC’s ambitious trials of quantum encryption technology, a venture that could reshape the future of banking. Embracing quantum encryption In a ground-breaking initiative, HSBC is setting the…