MetaMask & Infura Block Users From Sanctioned Countries – March 3

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $42,439

Bitcoin price has fallen slightly from recent highs, finding itself in the $42,000s to begin Thursday.

Top-20 altcoins have seen a drop in value across the board, as Ethereum falls 4%, BNB drops 2% and Solana is the biggest loser with a 7% tumble.

Top Stories for March 3, 2022 πŸ”₯

πŸ‘‰ MetaMask & Infura Block Users From Sanctioned Countries

The highly-popular web3 wallet MetaMask and infrastructure provider Infura have blocked access to users in “certain jurisdictions”, citing legal compliance issues.

Users from Venezuela and other countries have reported difficulties accessing their wallets, currently receiving an error message when using the MetaMask. The move comes as crypto begins to gather attention as a “risk” for being used to evade international sanctions.

πŸ‘‰ IRS Official Warns Of More Information Requests To Crypto Exchanges

An official from the US Internal Revenue Service (IRS) has stated that she expects more broad information requests to crypto exchanges, in a crack-down on taxpayers not correctly reporting their crypto tax obligations.

Similar information requests have been issued in the past to exchanges and platforms including Coinbase, Kraken and Circle. Further letters may also be sent directly to taxpayers suspected of not correctly reporting crypto taxes, similar to those issued in 2019 and 2020.

πŸ‘‰ Ukraine Cancels Airdrop, Opts For NFT Sale Instead

Ukraine’s Vice Prime Minister has publicly announced that the country’s airdrop to donors has been cancelled, instead opting for a sale of non-fungible tokens (NFTs) instead.

The reason for the cancellation was not stated, however around $7 million in additional donations were made to the country’s donation addresses following the initial airdrop announcement.