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Dutch BTC Exchange Objects Verification Demands For Crypto Users

The Dutch BTC Exchange Bitonic objected to the verification demands for crypto users that were imposed by the Dutch Central Bank which even forced crypto companies to ask for screenshots of their customers’ wallets as reported in crypto news. However, a  new court order said it was unwarranted. The Dutch BTC exchange Bitonic announced that the recent court order convinced the Dutch Central Bank to withdraw the demand for unlawful and onerous user verification requirements like screenshots. The DNB said in the reply: “After reconsideration, DNB comes to the conclusion that this interpretation of Article 2, second paragraph, RtSw, given…

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Norwegian Tax Regulator Warns Crypto Users To Start Declaring Earnings

Norwegian Tax regulator warned its crypto users of the country to start declaring their crypto earnings with April 30 being the final deadline as we can see more in our latest crypto news today. The Norwegian tax regulator advised crypto holders to declare their earnings and all crypto holders in the country already were warned to declare their earnings before the deadline. According to the agency, failure to report taxes could result in “paying additional tax.” Kryptovaluta for milliarder av kroner rapporteres i skattemeldingen https://t.co/VAc8hhDyBX pic.twitter.com/6AgHeWvxkJ — Skatteetaten (@Skattenmin) April 21, 2021 With crypto prices soaring over the past year,…

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Crypto Service Providers Accused Of Locking User Funds and Poor Customer Support 

Voyager Digital Ltd, a publicly traded holding firm with subsidiaries that operate a licensed crypto trading platform, has been accused by some of offering poor customer support. Users in An Uproar One Reddit user accused the crypto service provider of delaying his withdrawal request for nearly three weeks. He added that his plea for help Read More

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US Court Authorizes IRS to Summon Cryptocurrency User Records From Circle and Poloniex

The Internal Revenue Service (IRS) has obtained authorization from a federal court to seek information on cryptocurrency users from Circle and Poloniex exchange platforms. The tax authority wants records identifying crypto users who conducted $20,000 or more in crypto transactions during the years 2016 to 2020 as well as other documents relating to their crypto transactions. IRS Got Court Approval to Summon Data on Crypto Users From Circle and Poloniex The U.S. Department of Justice (DOJ) announced Thursday that a federal court has authorized the IRS “to serve a John Doe summons” on “Circle Internet Financial Inc., or its predecessors,…

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Cambridge University’s Third Crypto Study Records 101 Million Cryptocurrency Users Worldwide

The University of Cambridge and the school’s Centre for Alternative Finance has published the third “Global Cryptocurrency Benchmarking Study.” The 71-page in-depth study examines the current growth of the crypto industry, mining, offchain activity, crypto asset user profiling, regulation, and security. The September 2020 third edition of the Global Cryptoasset Benchmarking Study concentrates on four market segments which include mining, payments, custody, and exchange. A great number of participants from the cryptocurrency industry took part in the University of Cambridge (UC) study including wallet providers, exchanges, miners, cloud mining providers, crypto custodians, and more. The 71-page UC report says it…

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DeFi Hype Seems Bloated As Only 1% Of Crypto Users Are Actually Into It

The DeFi hype seems quite bloated as the news reports show that only 1% of the crypto users are attracted to it and participate in it so let’s read more about that report in our latest cryptocurrency news. The DeFi hype seems to not be hype after all as only 1% of the users participate in the sector because they seek a minimum of 15% annual return to justify the expected risks. A recent study by a privacy-oriented computation platform ARPA found that despite the hype, DeFi remains a niche corner of the crypto market and that only experienced users are…

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