Nigeria’s tax overhaul pulls crypto exchanges into identity-based reporting, reshaping how digital assets are brought into the traditional economy. Nigeria is rolling out a new approach to cryptocurrency oversight that relies on tax and identity systems rather than blockchain surveillance, as part of a sweeping reform of its tax regime. Under Nigeria’s newly implemented tax reforms, crypto service providers are required to link transactions to Tax Identification Numbers (TINs) and, where applicable, National Identification Numbers (NINs). The framework, which took effect on Jan. 1, is embedded in the Nigeria Tax Administration Act (NTAA) 2025 and marks one of the country's most sweeping tax overhauls. Read more
Italy’s securities regulator shared ESMA’s finfluencer factsheet, warning social media promoters that EU rules on investment recommendations and advertising apply to crypto. Italy’s securities regulator, the Commissione Nazionale per le Societa e la Borsa (CONSOB), has amplified a new factsheet from the European Securities and Markets Authority (ESMA), warning social media finance influencers, or “finfluencers,” that European Union rules on investment recommendations and advertising apply fully to crypto and “get rich quick” content. In a Monday communication, CONSOB highlighted ESMA’s finfluencers document, published on Thursday, which warns creators that “promoting a financial product or service isn’t like promoting shoes or watches.” Pushing contracts for difference (CFDs), forex, futures, certain crowdfunding products and volatile cryptocurrencies can, according to the communication, mean losing 100% of invested capital, and influencers remain legally responsible for what they post, even if they are not f...
Bitcoin rallied to $92,000 as Federal Reserve chair Jerome Powell spoke about a potential DOJ investigation into the Fed. Will BTC's strength hold? Key takeaways: Institutional investors selling Bitcoin is visible through the Bitcoin ETFs recording $1.38 billion in net outflows across four trading sessions. BTC futures data shows a neutral 5% basis rate, well below the 10% level that typically defines a true bullish breakout. Read more
The CFTC is looking to invite Tyler Winklevoss, Shayne Coplan, Kris Marszalek, and other crypto leaders to assist its approach to regulating the blockchain industry. US Commodity Futures Trading Commission chair Mike Selig has unveiled the agency’s new innovation committee, aimed at guiding the regulation of emerging technologies like blockchain and AI, which are transforming financial markets. The Innovation Advisory Committee replaces the Technology Advisory Committee and is looking to bring top crypto voices into the CFTC’s process to shape practical, forward-looking market regulations, Selig said on Monday. The new committee will advise the CFTC on the “commercial, economic, and practical considerations of emerging products, platforms, and business models in the financial markets so that it can develop clear rules of the road for the Golden Age of American Financial Markets,” Selig said. Read more