A Nigerian anti-corruption agency froze bank accounts (over $ 330,000) belonging to suspected cryptocurrency users on global platforms like Kucoin and Bybit. The agency believes these users manipulated the Nigerian currency (naira) through their trading activity. The exchanges are also accused of failing to adhere to anti-money laundering and terrorist financing regulations. Bank Account …
Japan’s Financial Services Agency Includes Crypto in 2025 Tax Proposal
The Financial Services Agency has released its tax reform requests for fiscal year 2025, highlighting the need to consider the tax treatment of virtual currency transactions as financial assets. This marks the first time virtual currencies are mentioned in such requests. Industry groups have long called for changes to the tax system for virtual currencies, […]
Ecuador’s Data Protection Agency Lacks Resources to Assess Worldcoin’s Compliance Status
The Superintendence of Data Protection, Ecuador’s data protection agency, stated that it lacks the resources needed to assess the compliance of Worldcoin, the biometric and universal basic income (UBI) project, with the country’s laws. The head of the institution, Fabrizio Peralta-Diaz, lamented this situation, stressing that it needed access to the necessary tools to examine […]
Dubai Border Protection Agency Launches Blockchain Platform to Boost Efficiency
Dubai’s border protection agency announced the launch of a secure and efficient blockchain network, which is expected to improve efficiency and transparency within the United Arab Emirates city. The blockchain platform will also strengthen Dubai’s position as a hub for entrepreneurship and global competitiveness. Launch Aligns with Dubai’s Government Blockchain Strategy Dubai Customs, the emirate’s […]
Nigeria’s Anti-Graft Agency Announces Reward for Whistleblowers Exposing Local Currency Abusers
The Economic and Financial Crimes Commission (EFCC) in Nigeria has announced a 5% reward for whistleblowers who provide credible information leading to the prosecution of offenders involved in naira abuse. Dele Oyewale, the EFCC spokesman, emphasized the importance of enforcing the law and protecting the economy from negative impacts. The commission has already secured nearly […]