Hello all! It’s great to be home again after a relaxing week in the Croatian peninsula of Istria. I certainly feel refreshed and reinvigorated. And I hope you are also looking forward to a new business week and what good things might be in store for you.

If you don’t know it yet then the king of the HYIP industry now is definitely ShuttleRent which comes highly recommended by my blog. After all, over three years of stable payments and the recent redesign with attractive investment plans and instant payouts speaks volumes. After the disastrous premature ending of the highly promising but ultimately disappointing Noweon the ability of ShuttleRent to carry on through thick and thin is especially impressive. I remind you that ShuttleRent currently offers fixed returns of 3%-4.7% on weekdays and 1.25%-1.8% on weekends spread over a period of 60 calendar days. The initial principal is already included in the daily profits and depending on the amount invested (the minimum price tag is $50) you should expect a not so shabby returns of 152% available even for smaller deposits. ShuttleRent is currently accepting all the most popular cryptocurrencies including BitCoin, LiteCoin, Ethereum, BinanceCoin, Tether USDT, Tron and Solana. Note that the minimum withdrawals are different depending on the currency you join with, however once accumulated you should expect to be paid instantly.

Of course, if you’ve either already invested in ShuttleRent or don’t really feel it’s your cup of tea you’ll still have a hard time finding other HYIPs out there worth your attention. Be sure though that if you follow MNO on Telegram, Facebook, or Twitter, where notifications of upcoming programs on my monitor appear first then you have an advantage. And don’t forget to join the thousands of subscribers to MNO blog articles by submitting and confirming your email address here. That way you won’t risk missing out on the any potential giants of the HYIP industry – something MNO has always been famous for covering.

If you wish to advertise your project on MNO it won’t be cheap as I don’t tolerate fast scams, but you will have a totally different audience that will increase attention to your project and allow you to make a statement on the current HYIP market mostly filled with amateurs. If you have any advertising requests make sure you submit them using this contact form or contact me direct at abramsonp@gmail.com or just chat on Telegram @mnoblog. Regular readers and MNO downlines are also welcome to use these channels for timely assistance with any issues or just ask questions regarding the HYIP industry.

Every Monday MNO posts an overview of the major events from the crypto market that happened over the last seven days, so let’s see what happened over the last week, April 3 to April 9, 2023 in the Weekly CryptoNews Digest.

STUDY SHOWS ONLY 0.5% OF CRYPTO INVESTORS PAY TAX

Have you ever wondered why the crypto industry has come under so much scrutiny at government level in recent years? I mean thinking back to the early days of BitCoin it was a somewhat lawless industry given that the brand new technology was beyond the understanding of mostly older and less tech savvy lawmakers, legislators, and enforcers. Fast forward to 2023 and it seems old school “big government” is all over crypto like a dose of measles! Why?

Well, like the answers to most questions in business, it’s down to money. Who has it and who wants it, and who can take it away from you. Swedish crypto tax firm Divly has released a new report that estimates that only 0.53% of crypto investors globally paid tax on their crypto in 2022. Published on April 5, the report came up with the estimate after analyzing the relationship between the number of people who declared cryptocurrency in their tax returns and the search volume for crypto tax-related keywords in various countries. It also used the number of crypto holders in each country according to local statistics. The report estimates that Finland has the highest proportion of crypto investors who paid the required taxes on crypto in 2022 at 4.09%, with Australia following closely behind with 3.65%, both of which are still quite miniscule and would understandably warrant further investigation from authorities. The United States ranked 10th on the list, with an estimated 1.62% of crypto holders paying taxes, while India, Indonesia and the Philippines had the lowest rates of tax-paying crypto investors, at just 0.07%, 0.04% and 0.03%, respectively.

AUSTRALIA CANCELS BINANCE’S FINANCIAL SERVICES LICENCE

It looks as if the USA isn’t the only international market or jurisdiction that crypto currency exchange operator Binance is coming under increasing scrutiny, as reported in recent MNO CryptoNews Digest articles. Now Australia is following suit. It has just emerged that Binance will close its Australian derivatives business after relinquishing a financial services licence on Thursday amid a regulatory probe into its operations. The Australian Securities and Investment Commission (ASIC) has been conducting a targeted review of Binance, first confirmed in February, when Binance said it had misclassified some retail investors as wholesale.

Now, I won’t claim to be any sort of an expert or an authority of the matter, I don’t quite understand why the different classifications are important, but apparently after researching the matter I see that under Australian law retail investors are entitled to a higher level of regulatory protection. This wasn’t provided by Binance, either by accident or design (a matter for the Australian courts), hence their current difficulties there.

Binance said in a statement it had decided to pursue a more focused approach in Australia after recent engagement with ASIC. The closure would not impact Australians using its spot exchange product, it added. As the world’s largest cryptocurrency exchange, Binance is battling regulatory suits and probes around the world. Reported more than once in the MNO CryptoNews Digest the U.S. Commodities Futures Trading Commission (CFTC) sued Binance and its founder Changpeng Zhao for operating what the regulator alleged was an illegal exchange.

BINANCE UNABLE TO FIND BANKING PARTNERS IN US

Not to be deliberately targeting Binance for criticism here, but as the old expression goes about having bad luck, “when it rains it pours”! As a continuation from the previous news article, things aren’t looking any better for Binance in the US than they are in Australia. The United States arm of Binance has been facing challenges in establishing a new bank partner to serve clients in the country, according to reports over the weekend. The recent failures of Silvergate and Signature Bank left Binance.US without banking services, and depending on middleman banks to store funds on its behalf, according to news reports. The regulatory crackdown on banks with crypto clients is another factor contributing to the exchange’s struggles. In March, the U.S. Commodity Futures Trading Commission (CFTC) sued Binance Holdings and its CEO, Changpeng “CZ” Zhao, for alleged trading violations. The cryptocurrency exchange has been the focus of a CFTC investigation going back some two years now, so it hardly comes as a surprise. Binance.US needs a bank to directly hold its client’s U.S. dollars, but recent attempts to establish direct banking relationships have failed.

Binance.US customers have been affected by the absence of a direct bank. In a recent status update, the exchange said it “was transitioning to new banking and payment service providers over the next several weeks,” adding that some U.S. dollar deposit services would be temporarily impacted during the transition. Binance is operating in a similar environment to what crypto firms are experiencing in the United Kingdom, where banks are moving away from accepting clients from the crypto sector. The few banks still working with crypto firms in the U.K. are requesting more documentation and information about how they monitor clients’ transactions. And referring back to the opening story in this weeks digest, that’s not a particularly appetising prospect for a lot of professional crypto players.

ETHER GAINS AHEAD OF MAJOR UPGRADE

We all know that the crypto industry is dominated by BitCoin, and has been for many years, but of course BTC is by no means the only game in town. Ether has spiked last week to a nine-month high, ahead of a major network upgrade that some crypto enthusiasts say will make the digital currency a more profitable long-term investment. The world’s second-biggest cryptocurrency is up about 6% over the past three days, surpassing $1,900, while BitCoin was roughly flat over the same period. Beginning next Wednesday, an upgrade to the Blockchain, dubbed “Shapella,” will allow owners of Ether to withdraw their assets. Up to this point, investors would have to use centralized exchanges like Coinbase or decentralized finance (DeFi) protocols like Lido, to essentially exchange their locked-up Ether for a token of equivalent value. The recent rally has followed a similar pattern to past bouts of enthusiasm surrounding network upgrades. In September, Ethereum ran up ahead of a historic transition to a more energy efficient way of securing the network, called proof-of-stake.

Ethereum previously had a vast network of miners all over the world running highly specialized computers that crunched math equations in order to validate transactions. After the so-called “Merge” upgrade in September, Ethereum migrated to a proof-of-stake system, swapping out miners for validators. Instead of running large banks of computers, validators leverage their existing cache of ether as a means to verify transactions and mint new tokens. So far this year, ether has underperformed BitCoin, but recent gains have helped to close the gap. Ether is up nearly 59% this year, versus BitCoin’s gain of 70% in 2023.

P2P PLATFORM PAXFUL IS SUSPENDING OPERATIONS

A story of some significant importance to African readers this week, peer-to-peer Bitcoin marketplace Paxful has announced that it is suspending its operations indefinitely. The Africa-focused Bitcoin trading platform’s co-founder, Ray Youssef, cited a staffing crisis and growing regulatory challenges as reasons for the decision, but also confirmed that a lawsuit filed by a Paxful co-founder is a key reason behind the closure. Customers are directed to retrieve their funds from their Paxful wallets.

Youssef claimed that Paxful’s senior staff were largely driven away from the company because of actions taken by the unnamed co-founder’s legal team. Youssef added that the co-founder refused to pay some of Paxful’s employees. By this past Friday, it had gotten to the point where there were no engineers, compliance team members, or security personnel left working at the company, Youssef said. Ultimately, he said he decided at that point to shut the company down due to security concerns. Youssef claimed he subsequently hired an engineering team to assume control of Paxful’s digital wallet—presumably still being used for safekeeping funds. He said it was the right thing to do, even though it conflicted with a court order that he’s received.

Paxful was originally founded in 2015, and it is the latest firm to succumb in the midst of crypto winter. Youssef said that Paxful was ultimately successful in the sense that it fostered Bitcoin adoption in West Africa and other areas of the Global South. According to Coin Dance, trading volume on Paxful totaled around $35 million in the past week, with users based in countries like Argentina, Kenya, and India.

That’s about all the news from the crypto market I have to report today on the MNO blog. If you would like to stay in the loop about what will happen this upcoming week make sure to check the blog next Monday when a new issue is due to be posted. Thanks for reading, guys!

GET PAID REPORT FOR 10/04/2023

Here is the list of the programs from my monitor that paid me for the last 168 hours:
From MNO Sticky list: –
From MNO Premium list: –
From MNO Standard list: –
From MNO Basic list: ShuttleRent.

And that’s all I have to share for today, guys. Thanks a lot for reading and talk to you again soon on MNO – For Money Lovers!