According to local media reports, Brazil's tax authority Receita Federal do Brasil (RFB) is strengthening its regulation of cryptocurrency taxation. The agency has found violations in more than 25,000 tax declarations, where taxpayers have at least 0.05 BTC in their wallets but did not disclose it. With all the violations, it is estimated that at least 1.06 billion Brazilian real (213 million US dollars) worth of BTC assets were not reported for taxation. The investigation that led to these findings combined traditional and artificial intelligence technology to identify taxpayers who omitted their cryptocurrency assets in their declarations. In addition, the agency has identified 181 statements submitted by foreign citizens that may be exempt from submission depending on certain conditions. It is reported that undisclosed assets in Brazil may be subject to fines and imprisonment for 6 months to 2 years. (Bitcoin.com)

Ben Armstrong, founder of the Web3 YouTube channel BitBoy Crypto, released a video on Youtube stating that his daily show discussing cryptocurrency trends is no longer financially feasible. Not only does it cost $25,000 per week to produce the videos, but also approximately $100,000 in legal fees per month.

CoW Protocol launched a proposal to adjust the rewards for computing nodes on Snapshot. The proposal suggests reducing the quote reward for each order from 9 COW to 6 COW and introducing a 0.0006 ETH upper limit for each quote reward. In addition, given the relative increase in COW price compared to ETH, the proposal suggests increasing the performance reward upper limit for each settlement from 0.01 ETH to 0.012 ETH to incentivize computing nodes to optimize execution efficiency.

According to Decrypt, the Hawaii state government has announced that cryptocurrency companies will no longer need a currency transfer license issued by Hawaii to conduct business within the state. These companies will be able to continue their trading activities as unregulated entities.However, these companies will be responsible for complying with any applicable federal licensing or registration requirements, including those established by the Financial Crimes Enforcement Network, the Securities and Exchange Commission, and the Financial Industry Regulatory Authority, as well as relevant federal regulatory requirements related to consumer protection, anti-money laundering measures, and other related requirements.

According to CNN, the 58th Super Bowl may not have any cryptocurrency advertisements. Brands such as BMW, Budweiser, State Farm, Oreo, DoorDash, and Hellman's Mayonnaise are planning to advertise for the big game, focusing on food and cars rather than artificial intelligence and cryptocurrency. Paul Hardart, a marketing professor at New York University's Stern School of Business, said that "fun, humor, and entertainment" may be the theme of this year's Super Bowl ads, marking a "significant shift" away from AI and cryptocurrency companies.

According to a report from The Standard, Fetch.ai lost £16.7 million during the widespread cryptocurrency price crash from 2021 to 2022 and had to write down its assets by £231 million. Despite a price recovery for FET in 2023, the company was still sued by former contractors. Fetch.ai paid approximately $1 million (including interest) to the contractors who claimed they were owed 750,000 unpaid FET tokens as part of a transaction. The company was plagued by "financial difficulties" and was placed under administration by court order to save the business. Being placed under administration means that a third party unrelated to the company gains control and investigates the financial situation before proposing a way forward. For Fetch.ai, after formally filing for bankruptcy, administrators from ReSolve were appointed to oversee the process.

According to Finance Feeds, the Swiss stock exchange SIX has launched the SIX Reference Cryptocurrency Index and the SIX Real-Time Cryptocurrency Index, which will serve as benchmarks for the AsiaNext cryptocurrency derivatives trading platform and global institutional investors. These indices focus on major cryptocurrencies such as BTC and ETH, aiming to provide a comprehensive market overview and performance indicators. In September 2023, SBI Digital Asset Holdings of Japan and AsiaNext, a joint venture between the Swiss stock exchange SIX, obtained the Recognized Market Operator (RMO) license from the Monetary Authority of Singapore (MAS). The new license allows AsiaNext to operate digital securities and fund secondary markets.

The Indian government has imposed heavy taxes and increased scrutiny on the crypto industry in the past two years, causing many people to hesitate or completely withdraw from trading and investing in crypto. The founders of top crypto exchanges CoinDCX and WazirX have expressed concerns about the almost shadow crypto ban in India and have called for a reduction in crypto taxes in the 2024 budget. They are urging a reduction in tax-deducted at source (TDS) from 1% to 0.01% and a decrease in the crypto tax rate to 30%, as well as the establishment of a self-regulatory body for the crypto and blockchain sectors. The decline in trading volumes on India's crypto exchanges in the last two years, combined with the worse bull market, has led crypto investors to demand a stable and trustworthy environment in which to thrive.

Government led by Argentine President Javier Milei has decided to remove the proposal to legalize cryptocurrency in the bill submitted to Congress. The reason for the removal is that the cryptocurrency clause delayed the parliament's handling of the entire bill, so the government chose to withdraw this part and promote consensus issues.

Beijing Property Rights Exchange issued a clarification statement today, stating that it has discovered that a certain overseas company, CBEX Group, is conducting virtual currency trading business under the name "CBEX". The Beijing Exchange has no business dealings, equity cooperation, or any other form of cooperative relationship with this overseas company CBEX Group, and has never conducted any form of encrypted currency, virtual currency, or other trading business, nor has it conducted any form of encrypted currency, virtual currency, or other trading business with other entities through shareholding or cooperation.