The Daily: Key Financial Updates on Security Risks and Bitcoin Tax Strategies

Wednesday, 16 October 2024, 17:35

The Daily brings urgent news as Cosmos co-founder Jae Kwon warns of North Korea-linked security risks at Iqlusion. Italy is planning a significant increase to 42% capital gains tax on bitcoin. U.S. prosecutors also call for a lighter sentence in the Bitfinex hacker case. Stay informed with these essential updates.
Theblock
The Daily: Key Financial Updates on Security Risks and Bitcoin Tax Strategies

Security Risks Linked to North Korea's Influence

In recent developments, Cosmos co-founder Jae Kwon has raised alarms over potential security breaches associated with Cosmos Hub's liquid staking module (LSM) due to connections with North Korean figures. Kwon criticized Iqlusion, the validator hosting firm, for what he termed as their 'gross negligence' in not properly vetting contributors. He further claimed that their actions may jeopardize the safety of Cosmos ATOM tokens.

Italy's Capital Gains Tax Increase

Italy's government plans a dramatic increase in capital gains tax on bitcoin, raising it from 26% to 42%. Vice Economy Minister Maurizio Leo announced this change will serve to fund vital support measures for families and businesses.

U.S. Prosecutor Actions on Bitfinex Hacker

U.S. prosecutors are advocating for a five-year prison sentence for Ilya Lichtenstein, linked to the 2016 Bitfinex hack. His cooperation in various investigations might influence the severity of his sentencing.

Ton Blockchain's Interoperability Advancements

In blockchain news, Axelar's Mobius Development Stack will help enhance interoperability for the TON Foundation, fostering seamless cross-chain asset transfer.

World Liberty Financial's Token Sale

Despite initial setbacks, Donald Trump’s backed project World Liberty Financial aims for substantial fundraising through WLFI token sales, promoting cryptocurrency as a crucial aspect of the future economy.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


Related posts


Newsletter

Get the most reliable and up-to-date financial news with our curated selections. Subscribe to our newsletter for convenient access and enhance your analytical work effortlessly.

Subscribe