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IRS Sees Surge in Crypto Tax Evasion Cases After Binance Probe
The IRS division that spearheaded the landmark Binance investigation disclosed that nearly half its cryptocurrency probes now center on crypto tax evasion cases rather than money laundering. Key Details: IRS Criminal Investigation Chief Jim Lee said crypto tax evasion cases jumped from 10% three years ago to around 50% of active digital asset probes. The......
Binance Sees 30% User Growth in 2023 Amid Regulatory Struggle
Leading crypto exchange Binance has published its 2023 year-in-review report. It revealed considerable growth despite a tumultuous year for the digital asset industry and the exchange. Most notable was the addition of over 40 million new users, representing more than 30% growth year-over-year despite the exchange CEO stepping down and regulatory trouble. As per the......
India To Block Binance and 8 Exchange Websites; Intensifies Crypto Crackdown
The Financial Intelligence Unit (FIU) of India has cracked down on major global crypto exchanges operating in the country under its anti-money laundering laws. On Thursday, the agency under the Ministry of Finance announced it had issued compliance show cause notices to nine offshore crypto trading platforms. Key Takeaways Notices were sent to Binance, KuCoin,......
Solana Beats Binance’s BNB, Reclaims 4th Largest Coin Ranking
A strong 18% surge in the price of Solana over the past 24 hours has boosted SOL to the fourth spot by market capitalization. This is the first time it’s done so in over two years. SOL is currently priced at $98.3, up 17.2% on the day, with a market cap of $42 billion, according......
Binance Cancels License Application in Abu Dhabi
Cryptocurrency exchange Binance has withdrawn a last-year application for an operating license in Abu Dhabi, Reuters reported Thursday. This marks the latest regulatory setback for the cryptocurrency exchange as global scrutiny intensifies. A spokesperson said the decision was "unrelated" to Binance's recent $4.3 billion settlement with U.S. authorities over anti-money laundering violations that triggered a......
Binance To Compensate Users After Euro Stablecoin AEUR’s Abrupt Price Spike
Cryptocurrency exchange Binance announced a compensation plan for traders affected by sudden volatility in its euro-pegged stablecoin AEUR. The incident occurred early on December 6th, when AEUR experienced a 200% price surge. The sudden surge decoupled its price from the intended 1:1 backing with the euro. Binance suspended AEUR trading pairs within hours to stabilize......
Binance Announces Mystery Airdrop With Exciting Rewards
Binance has launched a surprise crypto airdrop tied to its Web3 wallet usage before the new year. Traders completing a single wallet swap enter drawings for prizes ranging from 1 Shiba Inu to 1 BTC. https://twitter.com/binance/status/1732022015799021733?s=20 The largest cryptocurrency exchange announced the airdrop campaign via X on Tuesday. Binance will airdrop $500,000 in Bitcoin and altcoins......
Ronaldo Faces Lawsuit For Promoting Crypto Exchange Binance
Cristiano Ronaldo is facing a proposed class-action lawsuit alleging he promoted the cryptocurrency exchange Binance, which has since faced legal troubles in the United States. Filed on November 27 with a U.S. District Court in Florida, the lawsuit claims Ronaldo "promoted, assisted in, and/or actively participated in the offer and sale of unregistered securities in......
Binance.US Remains Unaffected Amidst Legal Drama, CZ Steps Down
Binance.US took to X (formerly Twitter) to assure its community that it stands unaffected by the recent settlements. The official statement emphasizes the crypto exchange's commitment to operating independently and adhering to all U.S. rules and regulations. https://twitter.com/binanceus/status/1729530641526435859?s=46 Launched with the explicit goal of serving United States customers, Binance.US has clarified that it is not......
Binance CEO Reaches Out to Users With An Important Message
Richard Teng, the newly appointed CEO of leading cryptocurrency exchange Binance, laid out his vision and commitments in his first public address since taking the helm. Teng formally succeeded company founder Changpeng "CZ" Zhao shortly after CZ stepped down. In the open letter posted to Binance's blog, Teng underscored his core focuses as incoming chief......
