• Crypto Wire
  • Posts
  • Cashing Out Your Crypto: As Easy As a Card Swipe.

Cashing Out Your Crypto: As Easy As a Card Swipe.

Crypto Chaos in Korea!

Welcome to Crypto Wire — clear, concise, and crypto-smart.

What we’ll cover today:

💸 Wish Cashing Out Crypto Was Effortless?

🚀 Crypto Chaos in Korea!

🇩🇰 Denmark is Coming For Your Gains, Even if You Don’t Sell!

1. Wish Cashing Out Crypto Was Effortless?

Source: Binance

Binance has teamed up with Paymonade to make selling your crypto smoother than ever.

You can now convert your digital assets straight to your Visa or Mastercard.

Funds land directly on your card in local currency—fast and fuss-free.

Here’s how it works:

  • Go to Binance’s “Sell Crypto” section.

  • Pick the cryptocurrency you want to sell.

  • Choose Paymonade as your payment method.

  • Link your Visa or Mastercard.

  • Complete a quick security check, and your money is on its way!

No extra steps needed.

Key Highlights:

  • Security remains top-notch with verification on both Binance and Paymonade.

  • Available in select regions, with a global rollout planned.

Binance recently ended its referral program in Turkey to comply with local laws.

2. Crypto Chaos in Korea!

South Korea’s new regulations have forced 11 exchanges to shut down, leaving $12.8 million of users' funds stranded.

But there’s hope—nearly 34,000 investors can now get their money back, thanks to a simpler recovery process.

Here’s what you need to know:

  • Digital Asset User Protection Foundation: This new body helps users reclaim assets without tricky legal issues.

  • Biggest Holders:

    • Cashierest holds the most customer funds at $9.4 million.

    • ProBit and Huobi follow with smaller amounts.

  • Unclaimed Assets:

    • $22.2 million is still locked in three temporarily paused exchanges.

The crackdown follows scandals like Do Kwon’s alleged crypto fraud.

More closures could be on the way as authorities tighten rules.

3. Denmark is Coming For Your Gains, Even if You Don’t Sell!

Starting January 2026, the Tax Law Council is pushing a new plan to tax unrealised crypto gains.

With over 300,000 Danes holding crypto, this could be a game-changer.

Here’s what the proposal outlines:

  • Three tax models: Capital gains, warehouse, and inventory taxation.

  • The most aggressive: Inventory model, which taxes yearly value changes at a hefty 42%, even if you’re just HODLing.

  • Applies to all assets: Including those bought way back when Bitcoin first launched in 2009.

  • Stricter regulations: Crypto exchanges must report user transactions, aligning with EU standards.

If this passes, Denmark might set a global trend.

No crypto is beyond the taxman’s reach.

What do you think about today’s edition?

Login or Subscribe to participate in polls.

Disclaimer:

This newsletter is for educational purposes and not intended as financial advice. Make your own investment decisions based on thorough research. Stay informed and cautious in the ever-changing crypto market.

Was this forwarded to you? Sign up here.

Crypto Wire News. 

Signing off