Cryptocurrencies Archives | Page 40 of 165

Crypto spending in Europe is rising with stablecoins leading

Crypto is gaining traction as a go-to payment method across Europe, with stablecoins playing a leading role. According to a June report from Oobit, more than 75% of crypto purchases made by European users over the past month were settled using stablecoins.

Retail and travel dominate the spending landscape. In countries like Germany, Spain, and Poland, crypto is most commonly used for food, drink, and other retail items. Meanwhile, travel expenses top the list in France, Italy, Greece, and Ireland.

Notably, over half of all crypto transactions were related to everyday shopping, with Poland alone making up a third of those purchases.

Poland, Lithuania, and Estonia are at the forefront of stablecoin adoption. Poland led the region, with over 30% of Oobit’s retail crypto transactions occurring there—most settled in USDC.

Lithuania also showed strong growth, particularly in euro-backed EURR transactions, which have doubled recently. Supportive regulation across these nations, including MiCA-compliant laws, is encouraging the trend.

The findings reflect a wider transition in how crypto is used. Instead of serving purely as an investment, digital currencies are increasingly woven into daily financial activities, showing their value in practical, real-world scenarios.

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Brazil sets flat 17.5 percent tax on all crypto gains

Brazil has implemented a significant shift in its approach to digital assets with a new crypto tax law taking effect on 12 June 2025. Under Provisional Measure 1303, a flat 17.5% tax now applies to all cryptocurrency gains, replacing the former progressive regime.

The previous exemption for monthly gains under 35,000 reais has been abolished, placing new pressure on small and casual traders.

The law’s reach is extensive, applying not only to traditional crypto trades but also to decentralised finance (DeFi), NFT transactions, staking rewards, and offshore wallets. Gains are now reported quarterly, with losses deductible over the past five quarters — a period that shortens in 2026.

Smaller investors are the most brutal hit, now fully taxed on previously exempt profits. Meanwhile, high-net-worth individuals could benefit, as gains that once faced a 22.5% rate are now capped at 17.5%.

The reform forms part of Brazil’s 2025 tax overhaul to expand the fiscal base amid record tax levels. Crypto may further integrate into Brazil’s economy, with payroll in digital assets under review and stricter monitoring ahead.

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Sparkassen to offer crypto trading in Germany by 2026

Germany’s largest banking group, Sparkassen, plans to offer cryptocurrency trading services to retail customers by the summer of 2026. The decision reverses Sparkassen’s 2023 stance, when it called digital assets ‘highly speculative’ and avoided crypto products.

Sparkassen’s crypto offering will be powered by its subsidiary Dekabank, which already holds a licence from Germany’s financial regulator BaFin. The new platform will let customers trade major tokens like Bitcoin and Ethereum, expanding beyond institutional services.

The move follows the introduction of the EU’s MiCA framework, which has provided banks across Europe with legal clarity to pursue crypto services. Demand for regulated digital asset access has already been seen through products like Börse Stuttgart’s Bison app and similar banking initiatives.

Although interest continues to grow, German regulators remain cautious. The country’s financial watchdog received over 8,700 suspicious activity reports related to crypto in 2024—its highest figure to date.

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Kurant pauses Bitcoin ATM operations in Germany

Kurant, Europe’s leading Bitcoin ATM installer, will temporarily halt its services across Germany from 1 July. The Austrian company is awaiting a new licence under the EU’s Markets in Crypto Assets (MiCA) regulations.

Over half of its 300-plus machines operate in Germany, meaning most Bitcoin ATMs in the country will be out of service during this pause.

Transactions initiated before the halt will be completed as usual, but no new purchases or sales of cryptocurrencies will be possible until the licensing process is finalised. Kurant described the break as a responsible step to prepare for significant technical and legal changes required by the new EU rules.

No exact timeline for resumption was given, though customers will receive updates.

Operations in other European countries, including Austria and Spain, will continue unaffected. Europe’s Bitcoin ATM network is growing steadily but remains much smaller than the United States, which leads globally with over 30,000 machines.

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Police investigate rising crypto-related crimes in Russia

Police in St. Petersburg have dismantled an illegal crypto mining farm operating near Mitrofanievsky Highway. The facility caused around 10 million rubles ($127,873) in damage to the city’s power grid.

Dozens of mining rigs and tampered meters were seized from the unmanned warehouse.

Authorities believe the farm spanned several hundred square metres and was powered through a nearby substation. A manhunt is under way for those responsible.

Meanwhile, the Ministry of Internal Affairs has warned of a new scam using foreign call centres. Fraudsters pose as trading experts and convince victims to invest in crypto after fake training sessions.

Once trust is gained, scammers take control of victims’ accounts and transfer funds to their own wallets. The warning follows the sentencing of influencer Valeria Fedyakina, known as Bitmama, for a $21 million crypto fraud.

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Arizona governor vetoes Bitcoin reserve bill

Governor Katie Hobbs of Arizona has vetoed a bill that aimed to establish a state-managed Bitcoin reserve using cryptocurrencies seized from criminal activities. The bill passed the Arizona House but was vetoed over concerns it would discourage local law enforcement from cooperating on digital asset forfeiture.

It marks Hobbs’ third veto on Bitcoin-related legislation. Earlier this year, she vetoed bills letting state funds invest in Bitcoin and allowing agencies to accept crypto for fines and taxes.

Hobbs has consistently expressed caution due to the volatility of cryptocurrency markets, stating that such fluctuations make it unwise to allocate general fund dollars to crypto.

Despite her vetoes, Hobbs did approve legislation permitting the state to hold unclaimed cryptocurrencies in their native form rather than converting them to cash. While states like Texas and New Hampshire have embraced Bitcoin reserves, Arizona continues to exercise strict oversight.

Experts suggest future governors may take a different approach, potentially opening the door to more crypto-friendly policies.

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Senate passes Trump bill without crypto tax breaks

The US Senate approved President Trump’s large reconciliation bill, but key crypto tax exemptions were excluded. Pro-crypto senators, led by Cynthia Lummis, tried to add amendments offering tax relief for miners, stakers, and retail users, but ran out of time.

The proposed changes would have taxed staking and mining rewards only upon sale. They also included allowing mark-to-market accounting for unrealised gains and introducing a de minimis exemption for small transactions.

Industry leaders called the omission a missed opportunity. Senator Lummis remains optimistic, saying discussions with Senate Finance Committee members will continue to address crypto tax issues in future legislation.

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Cloudflare’s new tool lets publishers charge AI crawlers

Cloudflare, which powers 20% of the web, has launched a new marketplace called Pay per Crawl, aiming to redefine how website owners interact with AI companies.

The platform allows publishers to set a price for AI crawlers to access their content instead of allowing unrestricted scraping or blocking. Website owners can decide to charge a micropayment for each crawl, permit free access, or block crawlers altogether, gaining more control over their material.

Over the past year, Cloudflare introduced tools for publishers to monitor and block AI crawlers, laying the groundwork for the marketplace. Major publishers like Conde Nast, TIME and The Associated Press have joined Cloudflare in blocking AI crawlers by default, supporting a permission-based approach.

The company also now blocks AI bots by default on all new sites, requiring site owners to grant access.

Cloudflare’s data reveals that AI crawlers scrape websites far more aggressively than traditional search engines, often without sending equivalent referral traffic. For example, OpenAI’s crawler scraped sites 1,700 times for every referral, compared to Google’s 14 times.

As AI agents evolve to gather and deliver information directly, it raises challenges for publishers who rely on site visits for revenue.

Pay per Crawl could offer a new business model for publishers in an AI-driven world. Cloudflare envisions a future where AI agents operate with a budget to access quality content programmatically, helping users synthesise information from trusted sources.

For now, both publishers and AI companies need Cloudflare accounts to set crawl rates, with Cloudflare managing payments. The company is also exploring stablecoins as a possible payment method in the future.

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Coinbase privacy appeal rejected by US Supreme Court

The US Supreme Court has declined to hear an appeal from a Coinbase user, effectively allowing the Internal Revenue Service (IRS) to access user data without new restrictions.

The decision ends James Harper’s legal battle over the IRS’s broad request for user data, which he claimed violated constitutional privacy rights.

Harper’s challenge stemmed from a 2016 IRS summons demanding data from over 14,000 Coinbase users suspected of underreporting crypto income. Lower courts rejected his claims, citing the third-party doctrine that removes privacy rights for data shared with external platforms.

By refusing to take up the case, the Supreme Court leaves intact the precedent set by lower courts. The ruling confirms that centralised exchange users like those on Coinbase lack Fourth Amendment protection over government access to their financial data.

Experts warn the ruling could have broader implications beyond crypto. The outcome may reinforce the government’s ability to obtain user data from financial and technology platforms, potentially expanding surveillance powers across the digital economy.

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Nobitex restores wallet access after major hack

Iran’s biggest crypto exchange, Nobitex, has begun restoring wallet access after a cyberattack that stole over $90 million this month. Wallet reactivation is being carried out in phases, starting with verified users and spot wallets, while other wallets will reopen once identity checks are completed.

Users were urged to update their details promptly, as deposits sent to old wallet addresses now risk permanent loss due to a complete system migration.

Nobitex warned that withdrawal, deposit, and trading services for verified users would resume as soon as security checks allow. Timelines may change depending on technical conditions.

Following the breach, Iran’s central bank mandated domestic exchanges to restrict operating hours from 10 am to 8 pm to improve security.

The pro-Israel hacking group Predatory Sparrow claimed responsibility, highlighting rising regional cyber tensions. Nobitex remains central to Iran’s growing crypto market, but the attack has shaken user trust and raised concerns over the country’s financial cybersecurity.

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