Nigeria frees Binance exec, Ripple appeals SEC XRP ruling: Law Decoded
2024-10-29

On Oct. 23, the Nigerian government dropped all charges against Binance executive Tigran Gambaryan, who has been detained in a Nigerian prison for more than seven months. 
FTX settles lawsuit against the Bybit exchange for $228 million
According to an Oct. 24 legal filing, the FTX bankruptcy estate agreed to a $228 million settlement with the Bybit exchange in a lawsuit to recover funds to repay former customers and creditors.
The lawsuit was first filed in 2023 by the FTX estate, and the new settlement agreement will allow FTX to withdraw $175 million in digital assets held on Bybit.
Of the digital assets, about $53 million in BIT tokens will be sold to Mirana Corp, an investment division of the Bybit exchange.
The settlement still requires court approval and is scheduled to be decided on Nov. 20.
Denmark Tax Council recommends bill to tax unrealized crypto gains
On Oct. 24, Denmark’s Tax Law Council recommended introducing a new bill that would result in unrealized gains and losses on crypto assets held by Danish crypto investors being taxed from as early as 2026.
The council released a 93-page report on crypto asset taxes in which Danish Tax Minister Rasmus Stoklund said that Danish crypto investors had been unfairly taxed under the “capital gains tax” approach.
Stoklund suggested that new rules on taxation should find a “simpler” approach when taxing crypto assets.
The report leans toward “inventory taxation,” which treats investors’ portfolios as a single “inventory” to be taxed each year, regardless of whether assets had been sold.