In theory, the implosion of FTX should be the biggest catalyst yet for the adoption of decentralized finance.  Will Centralized Exchanges or Decentralized Exchanges rule in 2023?  [Group Prediction]

https://group-907.the.select/posts/dxqd

In theory, the implosion of FTX should be the biggest catalyst yet for the adoption of decentralized finance.  Will Centralized Exchanges or Decentralized Exchanges rule in 2023?  [Group Prediction]  https://group-907.the.select/posts/dxqd

Another reason to abandon CEX for DEX?  The Treasury Department finalized a rule that would require #Crypto exchanges to report user transaction info like gross proceeds to the IRS. (The idea: deter tax dodgers.) The rule applies to centralized exchanges like Coinbase and Binance.

https://www.wsj.com/finance/currencies/crypto-investors-to-see-tighter-tax-rules-starting-in-2026-fe05fdbc

Crypto

Another reason to abandon CEX for DEX?  The Treasury Department finalized a rule that would require #Crypto exchanges to report user transaction info like gross proceeds to the IRS. (The idea: deter tax dodgers.) The rule applies to centralized exchanges like Coinbase and Binance.  https://www.wsj.com/finance/currencies/crypto-investors-to-see-tighter-tax-rules-starting-in-2026-fe05fdbc

In a long-awaited step against tax evasion in cryptocurrency markets, the Treasury Department adopted a final rule requiring many crypto platforms to begin reporting users’ transactions to the Internal Revenue Service.

Crypto to See Tighter Tax Rules Starting in 2026

Sam Mendoza

While Western markets embraced KYC and regulation, Chinese users adapted to unregulated crypto platforms. This divergence was evident at Bitcoin Asia 2024, showcasing a market free from centralized exchanges and fiat operators. 

https://bitcoinmagazine.com/culture/china-new-frontier-bitcoin-innovation?utm_source=ciwnews.beehiiv.com&utm_medium=newsletter&utm_campaign=top-mobile-apps-in-q1

 #A Glance of China 行摄中国

A Glance of China 行摄中国

While Western markets embraced KYC and regulation, Chinese users adapted to unregulated crypto platforms. This divergence was evident at Bitcoin Asia 2024, showcasing a market free from centralized exchanges and fiat operators.   https://bitcoinmagazine.com/culture/china-new-frontier-bitcoin-innovation?utm_source=ciwnews.beehiiv.com&utm_medium=newsletter&utm_campaign=top-mobile-apps-in-q1   #A Glance of China 行摄中国

Cyril

As of October 2023, CEXs collectively processed over 90% of global crypto trading volume.

While DEXs still handle a smaller portion of trading volume, their user base and trading volume are growing rapidly.  

credit to @Nate @Jerome Cody @Alex @Jozhe @Chris Nheu for making the right pick.

Nate

Jerome Cody

Alex

Jozhe

Chris Nheu

As of October 2023, CEXs collectively processed over 90% of global crypto trading volume.  While DEXs still handle a smaller portion of trading volume, their user base and trading volume are growing rapidly.    credit to @Nate @Jerome Cody @Alex @Jozhe @Chris Nheu for making the right pick.

👀 

The Israeli gov’t worked with Binance to freeze accounts it said were tied to Hamas. It’s not the first time Israel’s teamed up with the world’s largest crypto exchange. Since 2021, authorities have seized nearly 200 Binance accounts that officials said were connected to terrorists. But experts worry the tech’s use by Hamas could bolster support for a US crypto crackdown.

https://www.coindesk.com/policy/2023/10/17/israel-freezes-100-binance-accounts-over-suspected-hamas-links-ft/

👀   The Israeli gov’t worked with Binance to freeze accounts it said were tied to Hamas. It’s not the first time Israel’s teamed up with the world’s largest crypto exchange. Since 2021, authorities have seized nearly 200 Binance accounts that officials said were connected to terrorists. But experts worry the tech’s use by Hamas could bolster support for a US crypto crackdown.  https://www.coindesk.com/policy/2023/10/17/israel-freezes-100-binance-accounts-over-suspected-hamas-links-ft/

Authorities requested information on some 200 other crypto accounts, the FT said, citing people familiar with the matter.

D J

A group of likeminded people in Crypto are talking about this.