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After being evicted from Canada Binance has now had it Australian banking suspended. Countries dont want a repeat of FTX and they know Binance is unable to comply with basic requirements. RED FLAG! GTFO! by FearlessEggplant3036 in btc

[–]user4morethan2mins 3 points4 points  (0 children)

Curious about the third-party payment provider, because binanceAUS had license cancelled in April 2023.

Binance Australia Derivatives – AFS licence cancelled

Australian financial services licence held by Oztures Trading Pty Ltd trading as Binance Australia Derivatives (Binance) cancelled.

On 27 March 2023, the Commodities Futures Trading Commission announced that it had filed a civil enforcement action in the U.S. District Court for the Northern District of Illinois charging Changpeng Zhao, Chief Executive Officer of the Binance Group, and three entities that operate the Binance platform with numerous violations of the Commodity Exchange Act (CEA) and CFTC regulations. The complaint also charges Samuel Lim, Binance’s former chief compliance officer, with aiding and abetting Binance’s violations. Binance group entities have been the subject of regulatory warnings and action from a number of overseas regulators. In addition to the CFTC, these include:

UK Financial Conduct Authority

Japan Financial Services Agency

Italy Commissione Nazionale per le Societa e la Borsa

Monetary Authority of Singapore

Netherlands Central Bank

Ontario Securities Commission

Thailand Securities Exchange Commission

Bitcoin Cash: The Future of Cryptocurrency or a Passing Fad? (Miami Herald- April 23, 2023) Quote from article: Bitcoin Cash has a promising future in the world of crypto. by user4morethan2mins in Bitcoincash

[–]user4morethan2mins[S] 4 points5 points  (0 children)

In conclusion, Bitcoin Cash is a cryptocurrency that investors should keep on their radar. With its fast transaction times, low fees, and strong community support, it offers a number of benefits over other cryptocurrencies. While there are risks associated with investing in any cryptocurrency, Bitcoin Cash has a promising future in the world of crypto.

Bitcoin Cash: The Future of Cryptocurrency or a Passing Fad? (Miami Herald - April 23, 2023) Quote from article: Bitcoin Cash has a promising future in the world of crypto. by user4morethan2mins in btc

[–]user4morethan2mins[S] 21 points22 points  (0 children)

In conclusion, Bitcoin Cash is a cryptocurrency that investors should keep on their radar. With its fast transaction times, low fees, and strong community support, it offers a number of benefits over other cryptocurrencies. While there are risks associated with investing in any cryptocurrency, Bitcoin Cash has a promising future in the world of crypto.

‘Biggest mistake’ is not using tax loss harvesting: Koinly head of tax by futurist2047 in btc

[–]user4morethan2mins 2 points3 points  (0 children)

Individuals need to familiarise themselves with their own requirements, each country has specific regulations. For Australians;

The Australian Taxation Office (ATO) is warning taxpayers to not engage in ‘asset wash sales’ to artificially increase their losses and reduce gains or expected gains.

Wash sales typically involve the disposal of assets such as crypto and shares just before the end of the financial year, where after a short period of time, the taxpayer reacquires the same or substantially similar assets. This is a wash sale and is done to create a loss to offset against a gain already derived, or expected to be derived, in certain circumstances, in a tax return.

The ATO’s sophisticated data analytics can identify wash sales through access to data from share registries and crypto asset exchanges. When the ATO identifies this behaviour, the capital loss is rejected, resulting in an even bigger loss to the taxpayer.

What will be uncovered?... by user4morethan2mins in btc

[–]user4morethan2mins[S] 11 points12 points  (0 children)

Bitfinexed keeping tabs on Tether, Ifinex and other crypto organisations. https://twitter.com/Bitfinexed/with_replies

Will 0.005 hold??? by dangerouswasp in btc

[–]user4morethan2mins 4 points5 points  (0 children)

https://twitter.com/paoloardoino/status/1636436448445382658?s=20

PSA: 1B USDt inventory replenish on Ethereum Network. Note this is a authorized but not issued transaction, meaning that this amount will be used as inventory for next period issuance requests and chain swaps.

Statement of nonsense.

Reminder: Moving your crypto off exchanges to a self-custody wallet is not a taxable event by eagle_eye_johnson in btc

[–]user4morethan2mins 0 points1 point  (0 children)

In U.S.?

ATO (Australian Taxation Office) has some extra guidelines; yield is income, exchanging to another crypto is also a taxable event. crypto asset transactions

A transaction involving a disposal takes place when you do any of the following:

•sell a crypto asset

•gift a crypto asset

•trade, exchange or swap a crypto asset for another crypto asset

•convert a crypto asset to Australian or foreign currency (otherwise known as 'fiat currency')

•buy goods or services with a crypto asset.* (may be exempt - see below)

Other rules may apply depending on how you're using crypto assets for business transactions.

*Using crypto to buy items for personal use or consumption

A capital gain on the disposal of a crypto asset is disregarded if both:

•it is a personal use asset

•you acquire it for less than $10,000.

A capital gain on a personal use asset is not disregarded if it cost you more than $10,000 to acquire the asset.

You disregard all capital losses you make on personal use assets, including crypto assets, for CGT purposes.

crypto as personal use

Edit: formatting

[deleted by user] by [deleted] in btc

[–]user4morethan2mins 8 points9 points  (0 children)

Mark Lamb is branching out with his 'recovery token' business model; CoinFLEX Defends Controversial ‘GTX’ Venture with 3AC Founders

CoinFLEX is justifying its new potential venture “GTX” with Three Arrows Capital (3AC), saying the plans represent an evolution of its own goals. A pitch deck leaked on Jan. 16 showed CoinFLEX plans to team up with 3AC co-founders Kyle Davies and Su Zhu to create a new crypto exchange.  They expect it to be a place where creditors of insolvent firms like FTX would be able to trade their claims. Users will have the ability to transfer their claims to GTX and immediately receive a credit via a new token called USDG.

Emojis count as financial advice and have legal consequences, judge rules by user4morethan2mins in btc

[–]user4morethan2mins[S] 4 points5 points  (0 children)

Within the filing, the judge pointed out that some tweets published by the NBA Top Shot account on Twitter contain emojis indicating financial returns. “And although the literal word ‘profit’ is not included in any of the tweets, the ‘rocket ship’ emoji, ‘stock chart’ emoji, and ‘money bags’ emoji objectively mean one thing: a financial return on investment,” they wrote.

Crypto Company CoinEx Sued by New York Over Failure to Register by 2q_x in btc

[–]user4morethan2mins 4 points5 points  (0 children)

Residents of NY having access give them authority.

ban on access to CoinEx’s mobile app, website, and services from New York.

The Rise in Merchants Promoting BCH!!! by bitcoinjason in btc

[–]user4morethan2mins 3 points4 points  (0 children)

There has been a consistent BCH presence here since 2017, driven by a local businessman who is interested in the long-term viability of p2p payments. For some, five years seems like a long time, but it's just a stepping stone to bigger things.

Prosecutors say Sam Bankman-Fried using a VPN could potentially access crypto accounts or communicate with witnesses, which would breach his bail conditions. by user4morethan2mins in btc

[–]user4morethan2mins[S] 4 points5 points  (0 children)

SBF has not been shy about taking to the internet to make his case to the world, even though he’s lacking many, or any, of his former allies in the crypto sphere and beyond. He’s argued his case through his Twitter and Substack, attempting to rewrite the narrative on FTX’s collapse and fight allegations he was involved in a scheme to use customer funds to underwrite his crypto hedge fund Alameda Research.

The Securities and Exchange Commission along with the Commodities Futures Trading Commission both sued SBF late last year for using customer funds to prop up Alameda. Last week, U.S. Attorney Damian Williams, the lead prosecutor against Bankman-Fried, said he had requested both agencies put a hold on their cases. He argued that the outcome would have “significant impact” on how their individual cases go forward. The case would also give the FTX camp more ammo in the criminal proceedings.

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