Nigeria’s tax authority has issued its first virtual asset tax guidelines, setting a 30% rate on crypto profits for firms. Nigeria already has one of the most active stablecoin markets in the world, and taxing it at 30% puts serious pressure on exchanges, trading desks, and blockchain businesses that have been operating in a grey area for years.
South Africa moved in a similar direction this week, proposing mandatory reporting for all cross-border crypto transfers routed through licensed CASPs to the South African Reserve Bank.
Binance will delist ACX, HFT, PIVX, PYR, VANRY, and VIC following its latest asset review. Holders of any of those tokens have a narrow window to act before spot trading, futures, lending, and other services are shut off.
In Europe:
- The MiCA Crypto Alliance launched a public search tool letting users verify whether a crypto firm is licensed to operate under the EU’s framework.
- The EU flagged that new scams are taking advantage of MiCA’s rollout, targeting exchange customers forced to migrate assets after unlicensed platforms lost operating rights.
In AI, only 29% of Singapore firms can demonstrate how their AI systems reach decisions, below the APAC average, according to a Sumsub and SFA report. OpenAI also asked a US court to dismiss Apple’s trade secrets lawsuit this week, pushing back on allegations it misappropriated proprietary information to advance consumer hardware plans.
From Nigeria’s tax era to MiCA’s unintended side effects, there’s more to unpack this week. If you missed anything, here’s your catch-up.
Lead Story of the Week:
Nigeria’s Crypto Tax Era Begins as NRS Sets 30% Rate for Firms (Read More)
Nigeria has brought crypto profits and blockchain assets into its tax system with the NRS’s first virtual asset tax guidelines. (Read The Full Story)
Market Highlights
- South Africa Proposes Mandatory Reporting for Cross-Border Crypto Transfers
South Africa proposes requiring cross-border crypto transfers through licensed CASPs and reporting them to the South African Reserve Bank (SARB). (Read More)
- MiCA Crypto Alliance Launches Search Tool to Verify Licensed EU Crypto Firms
The MiCA Crypto Alliance has launched a search tool that allows users to verify whether a crypto company can operate under the European MiCA framework. (Read More)
- Boerse Stuttgart Digital Completes Tradias Merger to Grow Regulated Crypto Services in Europe
Boerse Stuttgart Digital has completed its merger with Tradias, creating one regulated digital asset business as institutional crypto demand grows in Europe. (Read More)
- EU Says MiCA Rollout Is Creating New Opportunities for Crypto Fraudsters
EU crypto licensing rules are driving scams targeting exchange customers forced to move assets after unlicensed platforms lost operating rights. (Read More)
Latest News For You
Binance to Delist ACX, HFT, PIVX, PYR, VANRY and VIC After Latest Asset Review (Read More)
Binance will delist six cryptocurrencies after its latest asset review, affecting spot trading, futures, lending, and other services. (Read Full Story)
AI News Highlights
- Only 29% of Singapore Firms Can Prove Their AI Decisions, Below APAC Average
Singapore firms are assigning AI oversight, but few can explain how their systems make decisions, a Sumsub and SFA report found. (Read More)
- OpenAI Asks Court to Throw Out Apple’s Trade Secrets Lawsuit (Read More)
OpenAI asks a U.S. court to dismiss Apple’s lawsuit alleging it misappropriated trade secrets to advance its consumer hardware plans.
Market Movers
Top Gainers 📈
- SkyAI (SKYAI) +317.42%
SkyAI (SKYAI) is rising due to a technical breakout, supported by surging volume and renewed interest in AI agents and the Model Context Protocol (MCP).
Top Losers 📉
- Audiera (BEAT) −52.23%
Audiera (BEAT) is dropping due to heavy selling pressure from an August token unlock, a technical breakdown, and declining on-chain activity.
Source: CoinGecko
Project Spotlight
Ripple Invests in ZILO and Licuido to Expand XRPL Digital Asset Infrastructure
Ripple has announced strategic investments in UK fintech ZILO and tokenization provider Licuido to build digital capital markets infrastructure on the XRP Ledger (XRPL).
Disclaimer: This roundup is intended solely for informational purposes and should not be considered trading or investment advice. Nothing herein should be construed as financial, legal, or tax advice. Trading or investing in cryptocurrencies carries a considerable risk of financial loss. Always conduct due diligence
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