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THE STATE DUMA HAS ADOPTED A LAW ON THE TAX ON CRYPTOCURRENCY

The State Duma adopted in the third reading a bill providing for the introduction of taxation of digital currency. Amendments are proposed to the Tax Code of the Russian Federation. The draft law provides that cryptocurrency will be recognized as property, but only for taxation. Residents are required to inform about transactions with digital currency if the amount of receipts or write-offs for the year is more than 600,000 rubles. The author of the bill is ...

BITTREX CRYPTO EXCHANGE DECLARED BANKRUPTCY IN THE USA

After ceasing operations in the United States, Bittrex Inc. filed for bankruptcy in the Delaware County Court. The application was submitted on May 8. In the document, the cryptocurrency exchange reports that it has assets and liabilities in the range of $0.5 billion to $1 billion. The "daughters" of the exchange will also be involved in the bankruptcy process: Bittrex Inc. (Seattle), two firms in Malta and Desolation ...

THE CRYPTOCURRENCY EXCHANGE IN GERMANY WENT TO THE BOTTOM

... the crypto exchange has attracted about €42.3 million. According to Crunchbase, the last serious capital inflow (closing of the Series B round) was observed in 2021. Then the firm managed to get €9 million. In August 2022, the organization declared bankruptcy. The company's management explained this step by the instability of the market situation and global events. The management hoped that the bankruptcy procedure would allow to restructure assets and stabilize the financial condition of the business....

BANKRUPTCY OVERTOOK THE VOYAGER DIGITAL CRYPTO-LENDER

... approximately an equal amount. It is worth noting that the bankruptcy application was filed in accordance with Part 11 of the Bankruptcy Code of the United States, which means the suspension of all court proceedings against the applicant to perform the ... ... fall of the TerraUSD stablecoin in May. As a result, the stablecoin lost almost all of its value along with its paired token. Cryptocurrency prices began to fall at the end of last year on expectations that the Fed would take a softer stance on the inflation ...

ONE OF THE LARGEST CRYPTOCURRENCY HEDGE FUNDS 3AC HAS GONE BANKRUPT

... application was filed in the Southern District of New York in Manhattan, with the company's head office located in Singapore. But the company's co-founder Su Joo said last April that 3AC was planning to move to Dubai. According to court documents, the cryptocurrency options and futures exchange Deribit said that Three Arrows was unable to return $80 million because the hedge fund ran into financial problems. It is worth noting that the liquidation, and now the bankruptcy of the fund's structures, is taking place against the background of the fact that popular cryptocurrencies (Bitcoin and Ethereum) have fallen by almost 70 percent from record highs amid the economic collapse. The company's insolvency forced ...

74 countries are at risk of bankruptcy due to the pandemic

... to the Paris Club, which helped to coordinate the project along with the IMF and the World Bank. Sri Lanka is the closest to bankruptcy, according to experts. S&P Global rating agency has recently warned of the country's risk of default in the very near ... ... citizens. Ghana, Tunisia and El Salvador are also at risk of default. According to the Banksta telegram channel, the experience of cryptocurrency trading conducted by the President of El Salvador was unsuccessful. It is assumed that this could have caused $11 ...

THE LARGEST US CRYPTO BANK ANNOUNCED LIQUIDATION

... tried to emphasize its close cooperation with the cryptocurrency exchange by opening separate accounts for it. Earlier, the bank attracted deposits in excess of $14 billion, becoming the largest US organization working with digital assets. However, the bankruptcy of FTX Group, which occurred in November 2022, dealt a blow to the bank's reputation. The share of customers storing cryptocurrency in the bank decreased from 25% to 15%. The amount of funds on deposit accounts decreased to $7.3 billion in the fourth quarter compared to $12 billion in the previous quarter. Silvergate Bank is known as a partner organization for the Binance ...

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