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Kazakhstan’s officials say American crypto exchange Coinbase is violating local laws. Cryptocurrency exchange Coinbase has been blocked in Kazakhstan as the country is trying to oblige all trading companies to comply with its local regulatory environment. According to a report from a local news outlet, Kursiv, the authorities restricted access to Coinbase after the Ministry of Culture and Information of the Republic of Kazakhstan received a notice from the Ministry of Digital Development. The latest accused Coinbase of violating the local Law on Digital Assets, which went into effect in February 2023 and requires crypto trading companies to receive a license from the Astana International Financial Center (AIFC). As noted by Kursiv, cryptocurrency exchanges like Binance, Upbit, and Bybit have already obtained the license and offer services in the region. You might also like: Analyst points to Coinbase’s future after disappointing quarter In addition to Coinbase, Ka...

According to a CoinGecko report dated Nov. 3, only 8 countries around the world offer spot Bitcoin ETFs.  Of these countries, Canada is ranked in the top spot for having seven spot Bitcoin ETFs worth a total of $2 billion in total assets. Canada and Europe lead Data from the report shows that Canada and Europe are the main markets for spot Bitcoin ETFs, with the seven in Canada and 10 in Europe. Since spot Bitcoin ETF assets amount to $4.16 Billion globally in total assets across 20 available offerings, Canada at $2 billion makes up 48.2% of the total, with its population of 40 million. 1/ This means that #Canada accounts for 48.2% of the $4.16B in spot Bitcoin ETF assets globally. Another leading country is #Germany , where only one spot Bitcoin ETF is incorporated with an outsized $802.52M in total assets. — CoinGecko (@coingecko) November 3, 2023 After Canada comes Germany, with one incorporated spot Bitcoin ETF and $802.52 million in total assets, alongside oth...

In a groundbreaking move, the IRS has unveiled fresh regulations for reporting taxes on cryptocurrency in August. Should these regulations receive the green light, they are slated to take effect from January 2026. Paul Singh Grewal, the Chief Legal Officer of Coinbase, a leading crypto exchange, has rallied the crypto community to stand against the proposed tax reporting guidelines from the United States Treasury. Grewal passionately implored the community to resist these regulations, cautioning that they might establish a worrisome precedent for extensive surveillance. Expressing his concerns on X (formerly Twitter), Grewal delved into the potential issues tied to the suggested crypto tax reporting rules. He asserted that these rules extend beyond the mandate set by Congress for establishing tax reporting guidelines. Furthermore, he warned that if these regulations metamorphose into law, they could disadvantage digital assets and pose a threat to a burgeoning industry in its infancy...

Hong Kong police have issued a warning concerning a recent Binance phishing scam targeting Hong Kong users of the platform. Hong Kong ’s police force has raised the alarm after 11 Hong Kong -based Binance customers were targeted in a wave of phishing scams sent through text messages. Hong Kong police warned users of the scam in an Oct. 9 post to its Facebook page dubbed “CyberDefender.” “Recently, fraudsters posing as Binance sent text messages claiming that users must click the link in the message to verify their identity details before a deadline, otherwise their account would be deactivated.” Police said that once users clicked the link and supposedly “verified” their personal details, hackers were then able to gain full access to their Binance accounts, where they proceeded to steal all of the assets contained within the users ’ wallets. According to the post, the phishing scheme has seen 11 Hong Kong -based Binance customers report combined losses of more than $446,000 (3....

Security teams are investigating the cause of the attack. Reports have surfaced of tokens being lost, transaction data being erased, and even entire crypto portfolios being lost. At least $35 million worth of crypto assets have been stolen from Atomic Wallet users since June 2, according to an Analysis from on -chain sleuth ZachXBT. The five largest losses account for $17 million. According to Atomic Wallet on Twitter, the cause of the attack is being investigated. Reports have surfaced of tokens being lost, transaction histories being erased, and even entire crypto portfolios being stolen. An independent investigation carried out by pseudonymous Twitter ZachXBT, known for tracing crypto stolen funds and assisting hacked projects, has found the largest victim lost $7.95 million in Tether (USDT). "Think it could surpass $50m. Keep finding more and more victims, sadly," commented ZachXBT. Screenshot: ZachXBT's investigation into Atomic Wallet's hack. Source: ZachX...

“We need more transparency over the reserves of these stablecoins, which I think we’re going to see,” Clara Medalie said. Blockchain infrastructure provider Paxos has recently published a report, that aims at helping the community look beyond the crypto winter and understand how to respond to the current market conditions.  Inside the 20 pages of the Paxos Crypto Winter Report 2023, the infrastructure provider identified several key opportunities for projects during the crypto winter. This includes seeking solutions and finding potential partnerships for their projects. Within the report, Clara Medalie, the director of research at the digital asset data provider Kaiko, said that solutions like stablecoins remain one of the crypto use cases that have "consistently proven itself over time.” Medalie said that stablecoins have been very useful for the entire industry. Total value settled with stablecoins by year. Source: Paxos Report Despite being one of the use cases that proved its...

Despite a tumultuous year, DeFi, NFTs and blockchain games drove DApp usage across the industry, according to DappRadar’s 2022 report. 2022 will go down as a challenging year for the cryptocurrency and blockchain space, but the adversity faced has been strewn with plenty of positives for the decentralized application (Dapp) ecosystem. DappRadar has released its yearly report on the industry, focusing on challenges faced alongside notable technological achievements and an increasing number of active daily users. Cointelegraph highlights the main takeaways from the DApp industry in 2022, which are pertinent, considering macro factors like inflationary concerns in major economies, the collapse of industry-specific projects like Terra/Luna and FTX as well as market woes across the board. Perhaps most telling is unique active wallet data (UAW) from 2021 and 2022, demonstrating a 50% increase in the average daily UAW year on year. This is up from 1.58 million daily users in 2021 to an aver...