Corporation tax: Profits or losses on currency exchange movements including virtual currencies are taxable. The profits and losses of a company that engages in cryptocurrency transactions would be recognized in the books and taxable under standard corporation tax regulations.
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The SafeMoon crypto wallet has been drumming up excitement among users because the team has been adding support for more coins. SafeMoon’s Karony revealed that the wallet would see additional listings this week and asked his followers which coins they would like to see.
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Cryptocurrencies and decentralised finance tokens are also highly volatile, so your cash can go down as well as up in the blink of an eye.
Brian Brooks, chief executive of the US arm of global cryptocurrency exchange Binance, said on Friday he had resigned just three months after taking up the role.
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It is a meme coin in the same sense as Shiba Inu, but has failed to live up to its promises. SafeMoon is the perfect example of why having a product first is what matters. Investors bought into the token thanks to its promises, and now the token is plummeting. It is a story warning investors of falling for grandiosity.
However, cryptocurrency experts had warned of several tell-tale signs that it was likely to be a scam.
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WASHINGTON (AP) — The Justice Department has recovered most of a multimillion-dollar ransom payment made to hackers after a cyberattack that caused the operator of the nation's largest fuel pipeline to halt its operations last month, officials said Monday.
“I haven’t encountered many who would try to put up more barriers for new users,” said Maria Shen, a partner at Electric Capital, a venture capital firm focused on cryptocurrencies. Still, she added, “the wallet space is fairly competitive, so it’s not unthinkable.”
Before joining the OCC, Brooks worked as the chief legal officer for Coinbase, a major competitor to Binance.US.
SafeMoon stands from "Safely to the Moon", a phrase that was adopted by Redditors about DogeCoin which refers to the price flying upwards "as high as the Moon".
Since then “the group has had a decidedly low profile. It has an active online fundraising page, but its website is offline. A Facebook page is ‘liked’ by only nine people. Its Twitter account has zero followers and only one tweet from April, soliciting input for a survey on veterans’ concerns. A search of media databases shows no instance of the group being mentioned in news stories.”