Author: John Smith

Nigeria’s revenue authority has issued detailed crypto tax rules requiring exchanges and P2P marketplace operators to collect, report and remit taxes arising from virtual asset transactions. Summary Platforms must withhold 1% from taxable crypto disposals, while stablecoin sales remain exempt under guidelines. Staking, mining, airdrops and DeFi rewards may face 10% withholding when classified as taxable income. Token to fiat and fiat to token transfers attract 1.5% stamp duty collected by platforms and marketplaces under guidelines. Some withheld taxes require remittance in originating tokens, while VAT follows the transaction’s payment currency. Nigeria’s framework places exchanges and P2P operators at the…

South Korea’s two largest crypto exchanges announced four new trading markets on Aug. 4, expanding local access to the HOME, META2 and USDG tokens. Summary Upbit will open HOME trading against KRW and USDT at 17:00 KST on August 4. Bithumb scheduled META2 and USDG won markets to open at 16:00 KST on August 4. Bithumb changed USDG support from Ethereum to Solana before opening the new Korean won market. HOME traded about 32% higher over 24 hours before Upbit’s scheduled Korean market launch Tuesday. USDG remained near its dollar peg as Bithumb prepared direct Korean won trading access Tuesday.…

Kalshi CEO Tarek Mansour defended the prediction market operator on Aug. 3 after New York filed a lawsuit seeking at least $36 billion in damages, penalties and related relief.  Summary New York seeks at least $36 billion while alleging Kalshi operates an unlicensed gambling platform. Kalshi removed the case to federal court, temporarily sidelining New York’s immediate preliminary injunction request. Tarek Mansour compared Kalshi with Nasdaq, saying the exchange matches traders and charges transaction fees. Federal courts previously refused Kalshi’s bid to block New York from enforcing gambling laws locally. The next court fight concerns federal jurisdiction, remand, and whether…

Mastercard has completed its acquisition of stablecoin infrastructure provider BVNK, bringing on-chain payment technology into its global network. Summary Mastercard finalized the up to $1.8 billion acquisition first announced in March. BVNK connects fiat and blockchain networks for payments, settlement, payouts, and treasury flows. The deal expands Mastercard’s ability to support stablecoins and tokenized assets alongside traditional currencies. Mastercard is also backing Open USD and developing stablecoin payments for autonomous AI agents. Mastercard closes deal for BVNK Mastercard confirmed on Aug. 3 that it had completed the acquisition of BVNK, expanding its infrastructure for moving value between fiat currencies and…

FalconX has reportedly cut about 10% of its global workforce as the digital asset prime broker prepares for an extended cryptocurrency market downturn. Summary FalconX reduced its global workforce by roughly 10%, affecting an estimated 35 positions. The company plans to withdraw its Singapore license application and prioritize crypto derivatives. FalconX will maintain its Asian presence while directing more resources toward European expansion. The layoffs follow recent workforce cuts at Luno, Pump.fun and other crypto companies. FalconX layoffs affect about 10% of staff FalconX implemented the workforce reduction across its global operations, Bloomberg reported Monday, citing people familiar with the…

A former FBI supervisory agent allegedly stole about $1 million in cryptocurrency, mixed it with personal funds, and asked ChatGPT how to use the money and relocate to Europe. Summary Patrick Yaroch allegedly made about a dozen crypto transfers beginning in late 2024 or early 2025. Investigators said he used ChatGPT to explore investing $1 million and moving to Portugal. Yaroch allegedly booked a Sept. 3 flight to Portugal before his arrest. The FBI dismissed Yaroch on July 31, one day before the affidavit was filed. FBI agent allegedly transferred crypto using discovered keys Federal authorities arrested Yaroch on Friday…

President Donald Trump called on ExxonMobil and Chevron to cut US fuel prices after the oil majors earned roughly $26.5 billion combined during the second quarter. Summary ExxonMobil earned $14.5 billion, more than double its profit from the same quarter last year. Chevron posted $12.1 billion in earnings, nearly five times its year-ago result. Trump said the companies were making “too much money” from an oil shortage. US gasoline prices have risen more than 30% since the Iran war began. Trump demands lower fuel prices Trump criticized ExxonMobil and Chevron at the White House on Monday, arguing that supply pressure…

Kenya has anchored more than 15 million academic records to the Avalanche C-Chain as it replaces slow, paper-based certificate checks with a national electronic verification system. Summary Kenya has anchored over 15 million records dating to 1989 on Avalanche. Nearly 1 million 2025 KCSE certificates are available exclusively through the electronic platform. KNEC expects the system to eventually cover about 35 million verifiable records. The platform cuts some certificate checks from months to seconds, according to Ava Labs. Kenya moves academic verification onto Avalanche The Kenya National Examinations Council launched the system through a local technology provider, according to an…

Circle has acquired nearly 1,000 blockchain patents from IBM, giving the USDC issuer what it describes as the largest blockchain patent portfolio in the United States. Summary Circle acquired nearly 1,000 issued patents spanning more than 680 patent families. The portfolio covers blockchain, banking, insurance, cloud security, and enterprise infrastructure. Circle has not disclosed the purchase price or explained whether it could enforce the patents against competitors. CRCL initially gained about 2%, but later fell after Morgan Stanley cut its target to $38. Circle takes control of IBM’s blockchain portfolio Circle announced the acquisition on July 27, saying it had…

Bitmine Immersion Technologies added 10,399 ETH to its treasury and repurchased another 4.5 million shares, but BMNR stock fell toward $17 as investors weighed its mounting unrealized losses. Summary Bitmine acquired 10,399 ETH, lifting its holdings to 5,797,813 ETH. The company now controls about 4.8% of Ethereum’s total supply. Bitmine repurchased 4.5 million BMNR shares during its third consecutive week of buybacks. BMNR traded near $17.06, with technical indicators showing weak trend strength. Bitmine’s Ethereum holdings approach 5.8 million ETH Bitmine said it acquired another 10,399 ETH over the past week, continuing the accumulation strategy it adopted last year. The…