ChainCatcher news, according to Tribune, a bizarre case has occurred in Pakistan where a cryptocurrency trader was kidnapped in a police car. It is reported that the cryptocurrency trader was abducted by five men in a police car and was forced at gunpoint to transfer $340,000 from his phone. The perpetrators claimed to be police officers, and the local police have filed a case regarding this matter and have handed it over to the Anti-Violence Crime Cell (AVCC) for further investigation.It is reported that the victim claimed the suspects had previously contacted him for a cryptocurrency transaction, but he refused. According to police sources, evidence related to the police phone and the involved officers has been collected.

ChainCatcher news, the Director of the Kenya Revenue Authority (KRA), Anthony Mwaura, recently revealed that the Kenyan government collected approximately $77 million (10 billion Kenyan Shillings) in taxes from 384 cryptocurrency traders in the 2023-24 fiscal year.The KRA plans to collect over $465 million in taxes solely from cryptocurrency traders. Overall, the agency aims to collect $15.88 billion in taxes over the next five years, with the crypto industry being viewed as a significant tax target for the Kenyan government.

ChainCatcher news, according to Cointelegraph, on-chain detective ZachXBT stated that he has noticed an increase in reports from victims of cryptocurrency robberies. He recently posted, "In the past few months, the number of cryptocurrency burglary victims in Western Europe has been significantly higher than in other regions." He has received messages from multiple victims and disclosed a robbery case involving $4.3 million.ZachXBT said, "This is a warning case that hopefully aids in arrests, and I hope people can take it as a cautionary tale and take protective measures. Avoid sharing personal information or details about crypto assets with friends, and do not flaunt on social media."According to data from GitHub, there have been at least 15 offline cryptocurrency robbery incidents from different countries or regions in the past year, with about 17 in 2023 and 32 in 2021.

ChainCatcher news, according to Bitcoin.com, the South African government is tightening regulations on cryptocurrency trading. The tax authority (SARS) is issuing tax notices and clarifying relevant regulations, potentially using artificial intelligence (AI) to identify non-compliant traders.The South African Reserve Bank (SARB) has clarified its position on the purchase of crypto assets. According to SARB regulations, individuals can purchase crypto assets using a single discretionary allowance or foreign exchange capital allowance, but companies cannot invest in crypto assets through the foreign direct investment incentive program. SARB also stated that cross-border or foreign exchange transfers solely for the purpose of purchasing crypto assets are not permitted.

ChainCatcher news, cryptocurrency market research and analysis company Kaiko found that cryptocurrency users in Latin America prefer stablecoins over Bitcoin. In its latest Latin American market report released in June, 40% of the trading volume involved USDT.Similarly, nearly half of the trades involving the Brazilian real also included stablecoins, Kaiko explained, due to the instability of the Brazilian currency and inflation in the region. The report analyzed data from seven cryptocurrency exchanges that offer trading pairs, including Kucoin, Binance, Mercado Bitcoin, Bitso, Htx, Okx, and Bitfinex.

ChainCatcher news, according to News.bitcoin, South African cryptocurrency traders have begun receiving notifications from the South African Revenue Service (SARS) indicating that their tax affairs are under review.The tax authority is collecting information from various cryptocurrency exchanges to assess compliance. Traders who fail to provide the requested information may face criminal charges under the Tax Administration Act. The South African Revenue Service may also investigate cases of unreported cryptocurrency ownership in the past.The South African Revenue Service has not yet provided clear guidance on whether cryptocurrency trading is considered capital gains or income. Therefore, accurately recording gains and losses from local and foreign cryptocurrency exchanges remains challenging.

ChainCatcher news, according to News.bitcoin, the Central Bank of Nigeria (CBN) has instructed four fintech companies Moniepoint, Palmpay, Opay, and Kuda to stop creating new accounts, citing that cryptocurrency traders may use these accounts.A report from Techcabal states that shortly after the Economic and Financial Crimes Commission (EFCC) of Nigeria froze over 1,140 bank accounts suspected of being linked to illegal foreign transactions, the CBN issued this directive. The report also cites a statement from a fintech company indicating that the account freezes are temporary. An executive from one fintech company, who wished to remain anonymous, also confirmed the temporary nature of the suspension. The executive also linked the CBN's directive to an ongoing audit of the KYC processes of the affected fintech companies.

ChainCatcher news, the Thai government is planning to tax cryptocurrency traders on their overseas income. It is understood that the new government seems eager to seek funding for planned economic stimulus measures, including nationwide airdrop activities.The Thai Revenue Department is targeting overseas income, specifically mentioning cryptocurrency traders. The proposed tax regulations will apply to Thai citizens and foreign nationals who reside in Thailand for more than 180 days each year.According to this new regulation, individuals earning overseas income from work or assets will be required to pay personal income tax. Legal experts indicate that this new policy appears to have specific targets, including "residents trading in foreign stock markets through foreign brokerage firms and cryptocurrency traders."A source from the Ministry of Finance stated, "The principle of taxation is that you must pay tax on income earned from abroad, regardless of how you earn that income and regardless of the tax year in which the money was earned."

ChainCatcher News, IRS agents are investigating wealthy cryptocurrency traders and fund managers suspected of illegally benefiting from Puerto Rico's tax incentives. Investigators are currently pursuing civil and criminal cases against several hedge fund managers, cryptocurrency traders, and other wealthy Americans who may have misreported their residency status and income to unfairly take advantage of tax breaks.It is reported that since Puerto Rico introduced its new tax policy in 2012, over 5,000 Americans have moved to the territory to save on federal income taxes. Puerto Rico's tax policy offers individuals 100% tax exemption on dividends and 60% exemption on municipal taxes, while the territory has zero federal tax on source income. To qualify for the tax breaks, new residents must be able to prove that they reside on the island for at least 183 days each year. (Source link)

ChainCatcher news, according to Watcher.Guru, U.S. President Biden stated during his speech on the last day of the G7 summit: "I will not agree to a deal that protects wealthy tax evaders and cryptocurrency traders while putting food assistance at risk." (source link)