Coinbase made the decision following Apple's policy for it to pay a 30% tax on gas fees of mobile NFT transfers.

According to budget documents made public on December 1, Italy intends to impose stricter rules on digital currencies in 2023 by extending its tax laws to cover cryptocurrency trading. From 2023 on, Italy will start taxing cryptocurrency capital gains at a rate of 26%. The tax levy is a suggestion made by the nation's legislators for its 2023 budget projections. The tax will only be charged on profits over EUR 2,000. Additionally, taxpayers will be able to report the value of their assets star

Although it is one of 134 businesses involved in FTX's bankruptcy proceedings, the Japanese subsidiary has been working on a plan to return user funds. After ensuring that its customers' funds are not included in FTX's bankruptcy proceedings, the Japanese subsidiary of the now-defunct FTX cryptocurrency exchange has released a plan for resuming withdrawals. On December 1, the company published an update, indicating that it has been able to confirm that the assets of its clients "should not" be

The "shadow banking system" is a network of financial intermediaries that promote credit creation throughout the global financial system but are not subject to regulatory monitoring. These firms are frequently referred to as "nonbank financial institutions" (NBFCs). Unregulated actions by regulated organizations are often referred to as the "shadow banking system." The shadow banking system is made up of lenders, brokers, and other credit intermediaries who operate outside of the traditional, r

The Ethereum Foundation said in a blog post on Wednesday that the blockchain's Ropsten test network (testnet) has begun to wind down, with a full shutdown expected between December 15 and 31. The announcement comes as developers have increasingly ceased engaging on the testnet in recent months, and participation rates have fallen. Ethereum operates testnets, which allow developers to execute software before releasing it on Ethereum's main network (mainnet). Test networks, which are effectively

On December 1, the BNB Chain-based decentralized finance (DeFi) protocol Ankr was hit by a multi-million dollar exploit. According to reports, the attacker was able to create 20 trillion Ankr Reward Bearing Staked BNB (aBNBc), a reward-bearing token for BNB staked on the protocol. Since then, the exploiter has successfully obtained approximately 5 million USD Coin by using services such as Uniswap, Tornado Cash, and various bridges to swap and obfuscate the funds. The attack is thought to be t

Porsche, a German luxury automobile manufacturer, has indicated that after announcing a future NFT initiative that will feature 7,500 customized tokenized vehicles, it will be dramatically stepping up its Web3 activities. Porsche said on Nov. 29 that the NFTs will go on sale in January and would allow owners to alter numerous elements of the car's performance and look. Patrick Vogel, a designer and 3D artist, is creating the actual NFT art, with each piece based around the iconic Porsche 911 m

On November 30, founder Pavel Durov announced on his Telegram channel that the messaging service is developing a set of decentralized tools.   According to Durov, the move is a reaction to the recent FTX crash, as the sector ended up becoming concentrated in the "hands of a few to abuse their power. As a result, a lot of people lost their money when FTX, one of the largest exchanges, went bankrupt." The announcement comes weeks after the launch of Fragment, a decentralized auction platform for

"The pessimism doesn't upset me that much," Facebook's parent company's CEO stated on Wednesday at the DealBook Summit. During the New York Times DealBook Summit in New York City on Wednesday, Meta Platforms (META) CEO Mark Zuckerberg said he was still hopeful about the Metaverse on a longer, "five-to-ten-year horizon." "The way we communicate becomes richer and more immersive," Zuckerberg said in a virtual interview, doubling down on his company's bet on a future dominated by virtual and augm

To help find stolen assets, six exchanges have been required to provide user information. The order is one of the first applications of a new rule in the UK that will aid in tracing assets stored abroad in cases of cybercrime. In order to trace $10.7 million in funds taken from an undisclosed UK-based exchange in 2020, six exchanges, including Binance, Coinbase, Luno, and Kraken, will be ordered to disclose user data. According to Financial Times, a court judgment requiring the disclosure of