The recent announcement from crypto exchange OKX has sent shockwaves through the Nigerian crypto community. OKX has informed Nigerian clients that they have until Aug. 16 to close their positions, as the platform is ceasing operations in the African country due to local regulations. In a move that has left many users frustrated, OKX stated
Regulation
The world of cryptocurrency and digital assets has witnessed a dramatic surge in lobbying expenditures over the past seven years, according to a recent study conducted by Social Capital Markets. The study found an astonishing 1,386% increase in lobbying spend by crypto companies, skyrocketing from $2.72 million in 2017 to a staggering $40.42 million in
Cryptocurrency giants like Coinbase, Ripple, and Andreessen Horowitz (a16z) have taken a significant step by sending representatives to the Republican National Convention (RNC) and the upcoming Democratic National Convention (DNC). This move showcases their commitment to engaging with lawmakers from both political parties to advocate for policies that are favorable to the crypto industry. The
The Ministry of Finance in Russia has put forward a proposal to allow traditional exchanges to facilitate digital asset trading for a specific group of investors. This proposal aims to create specialized regulations for organized trading in digital currencies, considering them as commodities, based on either an exchange license or a trading system license. The
South Korean lawmakers have recently put forward a bill to postpone the implementation of crypto gain tax until 2028. The ruling political party expressed concerns about the current negative sentiments surrounding the crypto industry as the primary reason for seeking an extension. They emphasized the fact that with the declining investment sentiment towards virtual assets,
In the 2024 presidential election, it is clear that cryptocurrency has become a significant factor in shaping voter opinions. Recent polls have shown that a substantial number of Republicans have shifted their views on Donald Trump due to his newfound support for cryptocurrencies. This change in stance has influenced 13% of Republicans who initially did
Cryptocurrency journalism is a specialized field within the broader realm of journalism that focuses on reporting and analyzing news related to digital assets, blockchains, decentralized finance, and other aspects of the crypto space. It requires a deep understanding of the complexities and intricacies of the ever-evolving world of cryptocurrencies, as well as a knack for
Stablecoins have been steadily gaining traction in the market, with a shift in dominance among the top players. While Tether’s USDT has historically been the frontrunner in the stablecoin space, recent data indicates a decline in its market share. In 2024, USDT’s market share on centralized exchanges dropped from 82% to 74%, as reported by
Decentralized Autonomous Organizations (DAOs) have garnered significant attention as innovative blockchain-based communities designed to achieve common goals. However, the UK Law Commission’s scoping paper raises critical questions about the legal characterization of DAOs within the country. The Commission’s central thesis revolves around the lack of consensus on what exactly constitutes a DAO and how it
Recent reports have highlighted significant exceptions granted by the US Securities and Exchange Commission (SEC) to certain financial institutions affected by Staff Accounting Bulletin No. 121 (SAB 121). These exceptions have sparked discussions within the industry regarding the implications for crypto accounting compliance and the broader landscape of the crypto industry. The SEC’s decision to