In a recent development, financial regulators in Cheongju, South Korea, are intensifying efforts to combat tax evasion within the digital asset landscape.On August 22, as reported by the local news agency Yongap, city authorities in Cheongju initiated plans to seize digital assets from individuals engaging in tax evasion, particularly focusing on virtual asset holders on centralized exchanges who have neglected to fulfill their tax obligations.The city has launched an inquiry into seven prominent crypto exchanges, including industry leaders like Upbit and Bithumb. This inquiry seeks specific information, such as the portfolios of 8,520 users who owe the government a minimum of 1 million won ($750). The objective is to ensure transparency, address tax evasion, and bolster government revenue.Over the past few years, local administrations have expressed concerns about the misuse of digital assets for concealing property and evading taxes. To counter this, authorities have consistently collaborated with centralized exchanges to obtain the holdings of traders and investors. Despite such efforts, some users resort to alternative measures, such as privacy coins and decentralized exchanges, to maintain anonymity.South Korean authorities emphasize the critical need to curb tax avoidance, underscoring that citizens will be held accountable for their financial responsibilities. This proactive stance aims to foster compliance within the cryptocurrency ecosystem, aligning with the broader global trend of regulatory measures to ensure transparency and accountability in the rapidly evolving landscape of digital finance.#myfirstsquarearticle #myfirstsquarearticle #cz_binance $BTC $BNB

Binance Square is pleased to extend a new promotion, where eligible users may complete specific tasks on Binance Square during the Activity Period to qualify for a share of 5,000 USDT in token vouchers.Eligible User must be complete all task during the Activity Period. • Set up your Binance Square profile (i.e., your nickname, avatar and bio).• Create one post or article on Binance Square.• Like and comment on five different posts or articles on Binance Square.• Gain three new Binance Square followers.• Follow ten accounts on Binance Square.Activity Period: 2023-10-24 ~ 11:00 (UTC) to 2023-10-31 ~ 23:59 (UTC)About Binance SquareBinance Square, formerly known as Binance Feed, aims to be the one-stop social platform for the latest trends in Web3.So, Binance User can post or article about latest trends on cryptocurrency. Rewards Details:Rewards from the 5,000 USDT token voucher rewards pool are capped at 10 USDT in token voucher per user. The USDT token voucher rewards will be distributed within 15 working days after the activity ends. Users may check their rewards via Profile > Rewards Hub. The validity period for the token voucher is set at seven days from the day of distribution.#myfirstsquarearticle #BinanceSquare #Binance #MyFirstFeedPost

Crypto NewsSolana Denies Certik’s Claims Vulnerabilities on the Solana Saga Mobile PhoneBlockchain security company CertiK has identified a bootloader vulnerability in Solana's Saga phone, which represents Solana's inaugural Android device.Solana Denies Certik’s Claims Vulnerabilities on the Solana Saga Mobile PhoneBlockchain security company CertiK has identified a bootloader vulnerability in Solana's Saga phone, which represents Solana's inaugural Android device. CertiK's discovery indicates that the bootloader vulnerability has the potential to permit the installation of a backdoor on the phone, compromising the initial software responsible for initiating the device.#BTC #MyFirstSquarePost #myfirstsquarearticle #BTC #sol #𝘽𝙞𝙩𝙘𝙤𝙞𝙣

Important Developments on November 16th NoonNovember 16, 2023Keywords from 7:00-12:00: Yellen, Paxos, Gulf Binance, LaV1. NYDFS Introduces Stricter Cryptocurrency Listing and Delisting Guidelines: The New York State Department of Financial Services (NYDFS) has launched stricter guidelines for cryptocurrency listings and delistings, aiming to enhance investor protection.2. StraitsX Receives Preliminary Approval for Stablecoin from MAS: StraitsX, a stablecoin project, has obtained preliminary approval from the Monetary Authority of Singapore (MAS) for its stablecoin.3. Paxos Plans to Launch New USD Stablecoin in Singapore: Paxos, a stablecoin issuer, has received preliminary regulatory approval to provide digital payment token services in Singapore. The company plans to collaborate with business clients to issue a USD-backed stablecoin.4. U.S. Congress Members Urge Treasury to Revise Cryptocurrency Tax Rules: Members of the U.S. Congress are urging the Treasury Department to revise what they consider "unworkable" tax rules related to cryptocurrency assets.5. Gulf Binance Joint Venture Approved by Thai Regulators: Binance and Gulf's joint venture, Gulf Binance, has received approval from Thai regulators.6. U.S. Treasury Secretary Yellen Plans to Discuss Cryptocurrency Regulation at APEC Meeting: U.S. Treasury Secretary Janet Yellen has expressed plans to discuss cryptocurrency regulation at the Asia-Pacific Economic Cooperation (APEC) meeting.7. South Korea's National Pension Fund Invests in Coinbase Stocks: South Korea's National Pension Service has purchased nearly $20 million worth of Coinbase stocks, with a paper profit of 40%.8. Australian Universities Develop Efficient Quantum-Secure Encryption Algorithm "LaV": Scientists from two Australian universities have created "LaV," an encryption algorithm that is considered the most efficient quantum-secure encryption algorithm to date.9. Singapore MAS Director: Collaboration on Wholesale CBDC Pilot with Regional Banks: The Monetary Authority of Singapore (MAS) director mentioned plans to collaborate with regional banks to pilot the introduction of a wholesale central bank digital currency (CBDC).#cpi #BTC #myfirstsquarearticle

F2Pool, a Bitcoin mining pool, has admitted to filtering transactions coming from Bitcoin addresses flagged by the Office of Foreign Assets Control (OFAC). After the situation was discovered by 0xB10C, a Bitcoin developer, F2pool co-founder Chun Wang acknowledged that his pool was indeed applying this filter, announcing it would drop the censorship until there was consensus in the community on the issue.F2pool Acknowledges Compliance With OFAC SanctionsF2pool, one of the largest Bitcoin mining pools in the world, acknowledged having been filtering transactions coming from addresses flagged by the Office of Foreign Assets Control (OFAC). Chun Wang, a co-founder of the pool, admitted applying a compliance filter for these transactions after 0xB10C, a Bitcoin developer, published an article that examined different transactions to determine if they were intentionally filtered or if there were other explanations for this behavior.The investigation, which examined six different transactions coming from OFAC-flagged addresses, pointed out that the four transactions excluded by F2pool were likely filtered. Nonetheless, the two remaining transactions could have been excluded due to other reasons. 0xB10C stated:These four missing sanctioned transactions lead to the conclusion that F2pool is currently filtering transactions.Wang Doubles Down, Backpedals LaterWang answered a post made by 0xB10C in X, explaining the reasons that led F2pool to apply this OFAC transaction compliance filter. In a now-deleted post, Wang stated:Why do you feel surprised when I refuse to confirm transactions for those criminals, dictators and terrorists? I have every right not to confirm any transactions from Vladimir Putin and Xi Jinping, don’t I? Meanwhile, CZ is selling his soul for money. He deserves.Furthermore, Wang pointed out that a “censorship resistance system” had to be designed to resist censorship from its protocol design instead of depending on each participant to decide not to censor. He explained that Bitcoin should learn about the mistakes on the internet in this regard.This posture resulted in backlash from the community, with several X users explaining that the hashrate in F2pool was not owned by the administrator of the pool, accusing Wang of imposing his values on other people.F2pool finally backpedaled (in another since-deleted post) on the issue, announcing it would stop filtering these transactions. Wang declared:Will disable the tx filtering patch for now, until the community reaches a more comprehensive consensus on this topic.What do you think about F2pool’s OFAC-compliant transaction filtering initiative? Tell us in the comments section below.TAGS IN THIS STORYBitcoin, Bitcoin mining, Censorship, F2Pool, #BTC #RichardTeng #etf #Onchain #myfirstsquarearticle