Bitcoin Exchanges Finance News

Southeast Asia’s Largest Bank DBS Sees 80% Increase in Bitcoin Trading Volume on Its Crypto Exchange

Coins Legend February 20, 2023 0

The largest bank in Southeast Asia, DBS, has revealed that bitcoin trading volume on its cryptocurrency exchange jumped 80% in 2022 while ether trading volume surged 65%. “We believe that the market has decisively shifted its focus towards trust and stability, especially in the wake of multiple

Finance News

Uzbekistan Allows Foreign Firms to Deposit Funds From Crypto Trading, Restricts Other Operations

Coins Legend February 16, 2023 0

The Central Bank of Uzbekistan has permitted foreign-based businesses to open domestic bank accounts and deposit funds received from cryptocurrency trading. These companies will also be able to transfer the money abroad, but operations in the country will be restricted. Uzbekistan Updates Rules for Operations With Proceeds From Crypto Exchange Transactions The Central Bank

Finance News

Income Tax Applies to Crypto Trading in Bosnia, Tax Administration Says

Coins Legend February 13, 2023 0

Individuals are expected to pay income tax on gains from cryptocurrency trading, the tax authority of Bosnia has determined. In the absence of dedicated regulations, the federal government in Sarajevo has set up a working group to assess various risks associated with digital assets. Income Tax Is Due on Profits From Crypto Trades, Bosnia Tax […]

Regulation

Dubai Regulator Grants Crypto Trading App OKX License to Extend Services in the UAE

Coins Legend July 19, 2022 0

The Seychelles-based crypto trading app, OKX, recently became the latest virtual assets service provider to be granted a provisional licence to provide its services in the United Arab Emirates (UAE). The provisional licence allows OKX to extend certain exchange products and services to pre-qualified investors and financial service providers. OKX Allowed to Extend Certain

Regulation

Singapore Considers Imposing New Restrictions on Crypto Trading

Coins Legend July 6, 2022 0

The Monetary Authority of Singapore (MAS) has told Parliament that the central bank is considering imposing additional restrictions on cryptocurrency trading. They include “placing limits on retail participation, and rules on the use of leverage when transacting in cryptocurrencies.” MAS Considers New Restrictions on Crypto Trading Tharman Shanmugaratnam, the minister in

Exchanges

Indian Crypto Trading Volumes Plummet After New TDS Tax Rule Takes Effect

Coins Legend July 5, 2022 0

Cryptocurrency trading volumes across exchanges in India have plunged after the country’s 1% tax deducted at source (TDS) went into effect at the beginning of the month. Some major crypto exchanges saw volumes dropping by about 80%. Crypto Trading Volumes Fall Across India The trading volumes across crypto exchanges in India have fallen sharply after […]

News

Warren Buffett-Backed Nubank Now Offers Crypto Trading to 54 Million Customers

Coins Legend June 30, 2022 0

Warren Buffett-backed Nubank, one of the world’s largest digital banking platforms, is now offering cryptocurrency trading to all of its 54 million customers. Nubank also holds bitcoin on its balance sheet. Nubank’s Crypto Service Now Available to All Customers Nubank, one of the world’s largest digital banking platforms, now offers cryptocurrency trading to all clients,

Regulation

Swiss Regulator Urges Financial Watchdogs to Protect Crypto Investors

Coins Legend June 24, 2022 0

Crypto trading is increasingly similar to the U.S. stock market of the late 1920s, the head of the Swiss financial watchdog has remarked. The high-ranking official believes that regulatory agencies around the world should do more to ensure investor protection. Swiss Financial Watchdog Executive Calls for More Regulations for ‘Abusive’ Crypto Market Governments are still

Regulation

Canadian Regulator OSC Takes Action Against Crypto Trading Platforms Kucoin and Bybit

Coins Legend June 23, 2022 0

The Ontario Securities Commission (OSC) has taken action against two cryptocurrency trading platforms. Kucoin is permanently banned from participating in Ontario’s capital markets. Bybit has promised to take steps to comply with regulations and register with the OSC. OSC Sanctions 2 Crypto Trading Platforms The Ontario Securities Commission (OSC) announced Wednesday the

Market updates

Study Finds 33.4 Million Nigerian Adults Hold or Have Traded Crypto in Last 6 Months

Coins Legend April 12, 2022 0

According to a new report, approximately 33.4 million Nigerians, or 35% of the country’s adult population, are holders of cryptocurrencies or have traded them in the past six months. The report attributes the growing adoption of cryptocurrencies to rising inflation and the plunging value of the local currency. Converting From Fiat to Crypto via P2P […]