RIYADH: Bitcoin, the leading cryptocurrency internationally, traded higher on Monday, rising by 1.74 percent to $42,420 at 1:12 p.m. Riyadh time. Ether, the second most traded cryptocurrency, was priced at $3,067, up by 1.59 percent, according to data from Coindesk. Other News: Crypto exchange Binance has warned investors about an SMS scam, in which scammers sent SMS messages to crypto users informing them of a withdrawal request from an unknown IP address that they may want to cancel."There is a massive phishing scam via SMS with a link to cancel withdrawals. It leads to a phishing website to harvest your credentials," Changpeng Zhao, CEO of Binance tweeted. Zhao also advised that users should always go directly to the Binance website via a bookmark or type the URL into the browser. "Never click on links from SMS." Binance is not the only crypto exchange that has been targeted by scammers using SMS scam tactics. In August last year, the Nasdaq-listed crypto exchange Coinbase similarly warned of a phishing scam targeting Coinbase users. Mining The personal income tax of individual crypto miners who withdraw their earnings in the traditional financial system cannot be less than 15 percent, the head of the Russian Industry Committee at the State Duma, Vladimir Gutenev has recently stated. Gutenev added that the minimum tax rate for companies or sole traders engaged in cryptocurrency mining as a business activity should be at least 6 percent, according to Bitcoin.com.He explained at a press conference that if cryptocurrencies are to be treated as securities in the Russian Federation, income tax must be paid when the mined coins are cashed out. However, the legal status of cryptocurrency mining and other related activities in Russia has not yet been determined. Russia government institutions are currently deciding how to define Moscow"s regulatory approach.