Sanctioning an Ether Address Isn’t Stopping Transactions

“To the extent there are U.S. touch points, or U.S. persons involved in such transactions, crypto companies could face enforcement from FinCEN, OFAC and/or the U.S. Department of Justice, depending on the activity at issue and whether any U.S. laws were violated,” he said. “Even without a violation, an investigation can be incredibly taxing on […]

Slovenia Unveils Plan for Flat Tax on Crypto Transactions

The proposed tax, which is part of the government’s post-COVID recovery plan, would be due when virtual currencies are sold or exchanged, and would be set at an effective rate of just under 5%. The goal is to help “debureaucratize” and simplify the current system, and improve Slovenia’s competitive position as crypto markets take off, […]

Litecoin transactions near an all-time high after gaining ground in consumer finance

The number of Litecoin (LTC) transactions has rebounded to over 140,000 in recent days after falling close to the 100,000 mark in early October. Three days prior, the Litecoin Foundation tweeted about the launch of its LTC Visa ebit card, powered by fintech firm Unbanked.  According to the card’s homepage, potential customers would first register […]

Are The Tables Turning? Litecoin Transactions Compared To Bitcoin Are 75% And Growing

Data compiled by @MASTERBTCLTC shows the number of Litecoin transactions is just under 75% of that of the number of Bitcoin transactions. “Litecoin transactions are 75% of the total bitcoin transactions. When will litecoin transactions flip bitcoin transactions? Sometime in 2021 I predict. 227k BTC vs 168k LTC transactions.” More significantly, @MASTERBTCLTC suggests this could […]

Brazilian Senate Committee Approves Bill Regulating Crypto Transactions

  Image The Brazilian Senate economic affairs committee approved a bill legalizing crypto transactions on February 22, 2022.  Bill PL 3825/19 was introduced by Senator Flavio Arns who authored it in 2019. The bill was then crafted jointly in collaboration with Brazil’s Central Bank, the securities exchange commission, and the federal tax authority, as a […]

Researcher Refutes ‘Blackmail’ Theory Behind Mysterious Ether Transactions

Last week, the crypto community spotted transaction fees of up to $2.6 million featured in several transactions on the Ether (ETH) network. Vitalik Buterin has since suggested that the abnormous fees “may actually be blackmail,” but some researchers have now challenged that claim.  Blackmail theory The first suspicious transfer took place on June 10, when […]

Ether Mining Pool Decides to Pocket One of the $2.6M Fee Transactions

Ether (ETH) mining pool Etherchain decided to distribute the $2.6 million in fees it received as part of the abnormal string of transactions seen last week. According to a tweet published on June 15, the pool will distribute the windfall to all miners who participated in that block, according to a snapshot taken at the […]

Tiny Tax Haven Accounts for $36B of Cross-Border BTC Transactions

Seychelles-based exchanges led the world in cross-border Bitcoin (BTC) transactions in 2019. What Switzerland is to the world of watchmaking, Seychelles is to the world of crypto exchanges. The small island nation with a total population of less than 100,000, presents a perfect playground for the enterprises that are looking for a place that allows […]

Free Transactions Invite Systemic Attacks on Blockchains, Researchers Find

The problem with paying gas to run transactions is that it discourages lots of transactions. The advantage of paying gas to run transactions, though, is that it discourages lots of transactions. This contradiction is captured well in a new paper examining transactions on EOS, Tezos and XRP Ledger (XRPL) over a seven-month period ending in […]