vader

ChainCatcher news, according to Cointelegraph, the Korean National Tax Service is intensifying its crackdown on tax evasion, warning that cryptocurrency assets stored in cold wallets may also be seized.Officials stated that if there is suspicion that tax evaders are hiding cryptocurrency assets offline, they will conduct home searches and confiscate hard drives and cold wallet devices. Under the National Tax Collection Act, the National Tax Service can request local exchanges to provide account information, freeze accounts, and liquidate assets to offset taxes. While cold wallets can ensure the security of cryptocurrency assets, they may also be used to hide assets, increasing the difficulty of tax administration. As of June, there were nearly 11 million cryptocurrency investors in the country, an increase of nearly 800% compared to 2020; during the same period, trading volume rose from 1 trillion won (approximately 730 million USD) to 6.4 trillion won (approximately 4.7 billion USD). The popularity of cryptocurrencies has led to an increase in tax evasion cases, with the first action in 2021 seizing approximately 50 million USD in cryptocurrency, and over the past four years, 108 million USD has been seized and liquidated.

ChainCatcher news, according to official sources, Binance Alpha has added FAI, VERTAI, and VADER.

ChainCatcher news, the Australian Taxation Office (ATO) has stated that it will closely monitor those who realize their crypto gains before the end of the fiscal year on June 30 in the country. Koinly's General Manager Adam Saville-Brown said, "The ATO has been closely watching crypto in recent years, and this year is no exception."Koinly's Head of Tax Education Michelle Legge stated, "The ATO has modified its crypto data matching program, aiming to collect data from all crypto exchanges operating legally in Australia from 2014 to 2026. Whether you are using Binance, Bitcoin Base, CoinSpot, or other sites, the ATO can collect your data."The ATO expects this program to collect information on 1.2 million crypto investors each year, including names, addresses, emails, and even social media accounts and IP addresses. Adam noted that most Australian crypto users are aware of their tax reporting obligations, but the program "may catch a few remaining investors who have failed to comply."

ChainCatcher news, according to Watcher.Guru, U.S. President Biden stated during his speech on the last day of the G7 summit: "I will not agree to a deal that protects wealthy tax evaders and cryptocurrency traders while putting food assistance at risk." (source link)

ChainCatcher news, the algorithmic stablecoin project Vader Protocol announced its decision to terminate the project and will return the funds owned by the protocol and the team to VADER and USDV holders. Vader Protocol explained that the UST collapse severely impacted the overall viability of the protocol, as its stablecoin USDV uses the same burn mechanism. As a precaution, the Vader team suspended the burn-mint function on VADER-USDV and will study ways to rebuild the algorithmic stablecoin over the next six months, but unfortunately, the team has not made breakthroughs in socially capital-efficient algorithmic stablecoins. (Source link)

According to Chain Catcher news, as reported by Bitcoin.com citing Yonhap News Agency, the South Korean authorities have seized nearly 260 billion won (approximately 184 million USD) in crypto assets from South Korean citizens accused of tax evasion over the past two years. Among the seized assets, about 176 billion won in crypto assets were due to unpaid national taxes, and about 84 billion won in crypto assets were due to unpaid local taxes. (Source link)