Crypto Users Beware: X’s New Rules Could Get You Banned
Years of crypto scams running havoc on the social network X, formerly known as Twitter, have resulted in the implementation of a “kill switch” for users talking about crypto. An Auto-Lock For Crypto Posting? The announcement of the toughest anti-crypto scam measure to date was made by Nikita Bier, X’s Head of Product, through a post on the same social media on Wednesday. Yeah we’re aware. We are in the process of implementing auto-locking + verification if a user posts about cryptocurrency for the first time in the history of their account. This should kill 99% of the incentive, especially....
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An often misunderstood topic is that of chain splits and how they are potentially resolved. With the recent proposal from Shaolinfry discussing User Activated Soft Forks (UASF) getting much attention, these misunderstandings must be clarified to fully understand the implications of chain splits and their potential resolutions. Types of Forks. Miners can create chain splits through the deliberate orphaning of blocks that appear to be valid to some clients. Users maintain a set of consensus rules that they require of all blocks. When users disagree about the sets of consensus rules to....
Earlier this week, National Bank of Ukraine introduced a ban on the use of payment services provided by Webmoney, Yandex.Money, Qiwi Wallet and Wallet One. State authority explained that it was due to the fact that the rules of digital money use were not coordinated by the companies with the National Bank of Ukraine that their provision of their services was suspended. Banned Russian companies express genuine surprise. In this situation, service users are the ones affected the most as it will become impossible to pay for goods and services and withdraw money from eWallets operated by....
Crypto trading volumes in India have plummeted following the new tax law entering into force. The new rules impose a 30% flat tax on crypto income and do not allow losses to be offset against gains.
New Crypto Tax Rules in Effect
The new crypto tax rules entered into force on April 1 after the country’s parliament approved Finance Bill 2022. A flat tax of 30% now applies to crypto income with no deductions or loss offsets allowed.
On April 1, crypto exchanges in India began seeing sharp declines in trading volumes. Aditya Singh, who runs the Youtube....
The policy also covers secondary NFT trading as the firm notes that “accounts that provide services or content related to the secondary transaction of digital collections shall also be dealt with.” The top social media platform in China, WeChat, has updated its policies to ban accounts that provide access to crypto or NFT-related services. Under the new guidelines, accounts involved with the issuance, trading, and financing of crypto and NFTs will be either restricted or banned and will fall under the “illegal business” category. The policy also covers secondary NFT trading, with the firm....
China's version of eBay, dubbed TaoBao, has made a statement today indicating they plan to ban sales of cryptocurrencies like bitcoin and the any hardware used to mine them. The service cites recent developments in China's legal landscape surrounding bitcoin, and Taobao expresses its desire to remain in compliance with the rules set forth by the People's Republic of China. Banned sales items include: bitcoin, litecoin, quarkcoin, PPCoinm, namecoin, and just about any other digital currency you can think of. Of relation, any hardware and/or software used to mine bitcoin or other digital....