The warning clearly states that June 30th has been designated as the reporting date for overseas financial holdings. As countries try to find a balance in financial and cryptocurrency regulation, South Korea has issued a new warning to cryptocurrency holders that they may face prosecution if they fail to report their holdings on foreign cryptocurrency exchanges. This is part of a plan to create stricter guidelines. According to a recent report, digital assets held on exchanges outside of Korea are considered offshore assets. Obligation to report overseas financial accounts A warning posted to MoneyS by Kim Dae-kyung, a tax accountant…
Author: Crypto Flexs
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Coinbase, the largest U.S. cryptocurrency exchange by trading volume, is launching support for the Lightning Network starting today. This allows users to send, receive, and pay Bitcoin faster and cheaper directly from their accounts. Previously, Bitcoin transfers from Coinbase were processed on-chain. This meant that transactions could take anywhere from 10 minutes to 2 hours, resulting in high fees during periods of network congestion. Launched in 2017, Lightning Network is a layer 2 protocol built on top of the Lightning Network. bitcoin BTC -2.63% A blockchain designed to solve scalability problems through two-way payment channels that enable near-instantaneous, low-fee transactions…
In this article, we look at on-chain analytics and how it can improve cryptocurrency trading and investing. On-chain analytics (also known as blockchain analytics) involves analyzing elements of a cryptocurrency with the goal of improving investment and trading decisions. Additionally, on-chain data is information about all transactions that occurred on the network. In the case of public blockchains such as Bitcoin and Ethereum, anyone can access these transactions. Appropriate use of on-chain metrics can make blockchain transaction data more applicable to cryptocurrency market intelligence. This means, for example, combining indicators with technical and fundamental analysis to obtain better information. There…
The cryptocurrency market continues to experience a downturn. However, recent whale activity has sparked a flicker of hope for Ripple’s native token, XRP. On Tuesday, a significant investor commonly referred to as a whale acquired 23 million XRP, sparking renewed interest in the embattled token. Whale movements: a sign of changing tides? The purchase was confirmed by Whale Alert, a platform that tracks large-scale cryptocurrency transactions. The tokens were launched in a Binance exchange wallet and the recipient address was not disclosed. However, the fact that the recipient was a Binance user suggests the potential for further trading activity. Some…
Users who felt left out of the recently announced EigenLayer airdrop slammed the re-staking protocol’s announcement on Monday, highlighting its non-transferable token structure, aggressive geo-restrictions and apparently short snapshot period.EigenLayer, the second-largest protocol with $15.67 billion in total value locked (TVL), revealed details of its long-anticipated “stakedrop” in a blog post on April 29.Even though the protocol had not officially confirmed the airdrop as of Monday, speculators seemed to be okay with just adding already staked Ethereum (ETH) to the EigenLayer. Since the protocol launched, it has added more than $15.7 billion, with some hoping to receive an airdrop. Points…
The cryptocurrency market continues to experience a downturn. However, recent whale activity has sparked a flicker of hope for Ripple’s native token, XRP. On Tuesday, a significant investor commonly referred to as a whale acquired 23 million XRP, sparking renewed interest in the embattled token. Whale movements: a sign of changing tides? The purchase was confirmed by Whale Alert, a platform that tracks large-scale cryptocurrency transactions. The tokens were launched in a Binance exchange wallet and the recipient address was not disclosed. However, the fact that the recipient was a Binance user suggests the potential for further trading activity. Some…
Binance, a leading cryptocurrency exchange, has introduced a new promotion that allows users to participate in airdrop rewards by subscribing to SOL or BNB locked products or staking ETH. The purpose of the promotion is to provide users with additional incentives and benefits when participating in these investment options. During the promotion period, which runs from April 30, 2024 to May 13, 2024, users who select and meet the subscription requirements can share a total of 7,777 ACE as airdrop rewards. Rewards will be distributed to the top 500 users based on net eligible subscription…
ETH DEV would like to thank everyone who participated in the Olympic Test Network, which was very helpful in stress testing, optimizing, finding bugs in the Ethereum client, and determining what the limitations of the current Ethereum system are. To that end, we are pleased to announce the Olympic Reward recipients. In addition to the rewards announced below, any miner who mines a block on the Olympic Chain with a block number in the range (310000, 589999) will receive 0.5 ETH per block, and any miner who mines a block on the Olympic Chain will also receive the following rewards:…
With over 20 million request transactions completed for thousands of smart contracts across many blockchains, the Chainlink Verible Random Function (VRF) is the most widely used random number generator (RNG) in Web3. Through continuous upgrades and improvements, Chainlink VRF achieves an ultimate latency of approximately 2 seconds, allowing for a number of innovative use cases that require quick responses. In many blockchain use cases, including gaming, NFTs, and art, randomness is important to create fair outcomes and experiences. However, it is difficult to guarantee that the source of randomness is secure. This is especially true in deterministic systems such as…
EigenLayer, a pioneering re-staking protocol, has garnered significant interest in the crypto community. However, there have been concerns and criticisms about the details of the stakedrop that will be performed on the native cryptocurrency. Let’s take a closer look at the details of its deployment, as well as the objections and possible consequences associated with EigenLayer. EIGEN Token Airdrop Distribution EigenLayer has launched native tokens with a total value of $1.67 billion to promote ecosystem development. A total of 45% of these tokens were used for the Eigen Foundation’s community-related efforts. These efforts included stake…