wilsongillian959

@wilsongillian959

199 Following

222 Followers

el88thoms pfp

While there has been murky guidance on the matter of Tether’s legal status in Europe, US crypto exchange Coinbase delisted USDT in mid-December, citing compliance with MiCA.

0 reply

11 recasts

6 reactions

lucasjohnson0988 pfp

lucasjohnson0988

@lucasjohnson0988

Despite Coinbase’s move to delist USDT, the stablecoin has continued trading across the EU, with many exchanges still awaiting further clarity from European authorities on USDT’s compliance with MiCA.

0 reply

11 recasts

6 reactions

jennymiller2381 pfp

jennymiller2381

@jennymiller2381

USDT’s market cap fell from $138.8 billion on Dec. 30, 2024, to a weekly low of $136.9 billion on Jan. 1, CoinGecko data shows.

0 reply

10 recasts

6 reactions

ireneevans451 pfp

It marked the USDT market cap’s biggest dip since the FTX collapse in November 2022. Its current market cap of $137.2 billion is 2.75% off its all-time high of $141 billion set on Dec. 20, 2024.

0 reply

10 recasts

6 reactions

bellasmith80612 pfp

bellasmith80612

@bellasmith80612

Despite the fall, USDT stablecoin dominance still sits above 65% in what has become a $210 billion market.

0 reply

10 recasts

6 reactions

merfil095 pfp

Also on Dec. 30, Tether moved almost $780 million worth of Bitcoin into its corporate Bitcoin reserve in its largest move since March.

0 reply

10 recasts

6 reactions

carrie6084 pfp

Tether said in May 2023 that it planned to “regularly allocate up to 15% of its net realized operating profits toward purchasing Bitcoin.”

0 reply

10 recasts

6 reactions

thomasannie658 pfp

@thomasannie658

The United States Attorney’s Office revealed an additional charge for Terraform Labs co-founder Do Kwon following his extradition from Montenegro: money laundering conspiracy.

0 reply

4 recasts

6 reactions

c86749998 pfp

In a superseding indictment unsealed on Jan. 2 in the US District Court for the Southern District of New York, US Attorney Damian Williams alleged Kwon conspired with others to commit money laundering.

0 reply

4 recasts

7 reactions

wilsongillian959 pfp

wilsongillian959

@wilsongillian959

According to the US Attorney, the Terraform co-founder facilitated transactions of more than $10,000 on the platform “knowing that the property involved in certain financial transactions represented the proceeds of some form of unlawful activity.”

0 reply

3 recasts

7 reactions

wilsongillian959 pfp

wilsongillian959

@wilsongillian959

According to the US Attorney, the Terraform co-founder facilitated transactions of more than $10,000 on the platform “knowing that the property involved in certain financial transactions represented the proceeds of some form of unlawful activity.”

0 reply

3 recasts

7 reactions

amelia569082 pfp

For the United Arab Emirates, 2024 marked a significant milestone. With five regulators now overseeing virtual asset service providers (VASPs), the nation introduced a series of laws, licensing frameworks and tax exemptions.

0 reply

9 recasts

14 reactions

merfilwilliams pfp

@merfilwilliams

President-elect Donald Trump’s plan to establish a strategic Bitcoin reserve in the United States has fueled enthusiasm and debate, with rumors now that six other international governments are looking to emulate the US, including Russia, Japan and Thailand. Such a bold move signaled that top-tier governments now consider Bitcoin strategic holdings rather than fringe experiments.

0 reply

8 recasts

14 reactions

bella76brown pfp

The UAE has no shortage of regulatory bodies shaping its crypto sector. With five regulators now available for companies seeking virtual asset services, businesses can align with the legal environment best suited to their offerings. Regulatory arbitrage available within the UAE is a feature, not a bug, but this feature needs to be navigated intelligently, bearing in mind the overarching federal regulations.

0 reply

9 recasts

13 reactions

bellasmith80612 pfp

bellasmith80612

@bellasmith80612

A highlight of the year was when the Central Bank of the UAE (CBUAE) introduced the Payment Token Services Regulation via Circular No. 2/2024 in June 2024, regulating the issuance of stablecoins. Moreover, after a 12-month grace period, businesses in the UAE will only be allowed to accept crypto payments in dirham-backed stablecoins issued by CBUAE-approved entities.

0 reply

9 recasts

14 reactions

merfil095 pfp

Meanwhile, a tax development from the Federal Tax Authority provided that all cryptocurrency transactions are exempt from value-added tax (VAT) from Nov. 15, 2024, retroactive to Jan. 1, 2018. This tax relief is only relevant to those making a lot of trades on centralized UAE exchanges and being charged VAT on exchange fees. Therefore, please disregard the hyped-up, misleading tweets claiming the UAE has released all virtual assets from taxes. That is not the case.

0 reply

9 recasts

15 reactions

carrie6084 pfp

0 reply

10 recasts

14 reactions

wilsongillian959 pfp

wilsongillian959

@wilsongillian959

0 reply

9 recasts

15 reactions

thomasannie658 pfp

@thomasannie658

While some international media outlets reported that salaries can now be paid entirely in Bitcoin and crypto, such interpretations misread the ruling. The judgment did not redefine wage laws; it merely recognized crypto tokens as a valid form of bonus payment within a specific employment contract.

0 reply

8 recasts

14 reactions

c86749998 pfp

As always, the public is urged to rely on official government sources for accurate information rather than sensationalized social media posts.

0 reply

9 recasts

15 reactions