2023-02-14
Bosnian Tax Administration: Income Tax Applies to Crypto Trading
Although Bosnia's present statute does not expressly forbid the taxation of digital assets, the country's tax office has discussed the issue with the finance ministry. The latter is in charge of bringing about changes to the tax laws.
The Balkan country has experienced an increase in media coverage of cryptocurrencies, and its capital city will soon get its first bitcoin ATM, according to a report from the FENA news agency. The topic of taxes has also gained attention against this background.
🌊
Reaching All-Time High in ETH 2.0 Deposit Contract Value
Ethereum is one of the cryptocurrencies down this week (ETH). The largest altcoin by market value is presently trading at $1,508,81, following a price decline of 1.53% during the previous 24 hours. Over the same time frame, the alternative currency also experienced lows of $1,504.49 and highs of $1,545.55.
Due to this hiccup in ETH's 24-hour performance, the cryptocurrency has had a negative weekly performance of more than 7%. Additionally, over the previous day, ETH lost ground to its main rival, Bitcoin (BTC), by around 1.24%.
🌊
France Will Tighten Its Cryptocurrency Registration Regulations in January
According to plans released on Friday by a committee of parliamentarians from both chambers of parliament, registration requirements for French cryptocurrency enterprises would tighten as of January 2024, though not to the extent that the Senate, the nation's upper house, had originally wanted.
According to the Joint Committee document, newly applying corporations will be subject to stricter requirements regarding internal controls, cybersecurity, and conflicts of interest. That's less burdensome than a prior Senate policy that mandated businesses apply for licenses.
🌊
In the Midst of the Bitcoin (BTC) Price Drop and the Binance USD (BUSD) Scandal, Tether Mints 1 Billion USDT
Tether, a stablecoin manufacturer, has produced another billion USDT. Immediately following the Binance USD (BUSD) scandal, which the U.S. According to reports, the Securities and Exchange Commission is attempting to have an unregistered security recognized.
The minting of a billion USDT is a permitted but unissued transaction, Tether's CTO Paolo Ardoino quickly declared to the public. According to Ardoino, this sum will be used as inventory for chain swaps and issuance requests in next seasons.
🌊
For a $5 NFT Pass, You May See the Premiere of the New Nouns TV Show
With "The Nouners," an animated series for adults, Nouns, an open-source intellectual property (IP) built on a number of Ethereum NFTs, is entering the television market. Additionally, the show is staying true to its origins by only releasing the pilot episode through an NFT access pass. The project is produced by independent creators and was first supported by a grant from the Nouns DAO community.
🌊
Hello Pets: To Build an Open Entertainment Ecosystem and Become Web3's Disney
By chance, Hello Pets is promoting the development of an open entertainment ecosystem. All of the connected groups will be in a position to connect in topics relating to storytelling and the artistic development of shared IPs as a result of this, in their perspective. It will start off with a cast of endearing pet characters.
Their longer-term goal is to bring together outside NFT collections with the participation of the group artists and the holders of those collections. In this, they will be sharing IPS, with the purpose of expanding upon unique content and products. Their objective is to create a Disney in Web3.
🌊
Ethereum's Vitalik Buterin Donates to Earthquake Victims in Syria and Turkey
Co-founder of Ethereum Vitalik Buterin has generously donated a sizable sum to help those impacted by the recent earthquakes in Turkey and Syria.
Several news outlets report that Buterin donated over $150,000 worth of ether to Ahbap Earthquake Support in order to help with the recent natural catastrophe in the two nations.
🌊
SEC Chair Gensler is Accused of Misdeeds by the Creator of Messari
SEC Chair Gary Gensler was accused of acting in a conflict of interest and working against the cryptocurrency business by Messari creator Ryan Selkis.
🌊
Coinbase Stock Falls After SEC Probe on Crypto Staking
The U.S. Securities and Exchange Commission ordered rival exchange Kraken to end its crypto staking services in exchange for paying a $30 million settlement, causing the stock of the leading U.S. cryptocurrency exchange Coinbase (COIN) to experience its biggest daily loss in seven months.
Coinbase makes a substantial profit from its cryptocurrency staking services, and the SEC is purportedly cracking down on such services, which is why COIN's value has decreased.
🌊
Paypal Halts Stablecoin Project Due to Regulator Pressure
Despite revealing its 2022 fourth quarter financial figures on Thursday, PayPal appears to have chosen to cancel the launch of its stablecoin that was scheduled to be announced in the next weeks.
PayPal and stablecoin issuer Paxos Trust announced their plans to create cryptocurrency goods back in August 2022.
🌊
"We Will Happily Defend" Staking in US Courts: Coinbase CEO
According to Coinbase officials, staking does not qualify as a security under the Howey test or the US Securities Act.
Executives of the cryptocurrency exchange Coinbase are defending their company's crypto staking services, asserting that they cannot be categorized as securities and threatening to take the case to US courts if necessary.
🌊
Paxos Reportedly Being Probed by New York Regulators
Although the investigation's precise motivation is unknown, it has been claimed that New York regulators would step up consumer protection operations this year.
According to reports, the New York Department of Financial Services (NYDFS) is looking into Paxos Trust Company, the stablecoin issuer located in New York that is responsible for Binance USD (BUSD) and Paxos Dollar (USDP).
🌊
Shopify Launches Blockchain Commerce Tools for Merchants
Shopify NFT merchants may now control which token holders have access to premium goods, NFT drops, and bonuses by using "tokengating" capabilities.
A set of blockchain commerce tools has been released by crypto-friendly e-commerce giant Shopify to improve the user experience of its Web3-focused businesses hosted on the platform.
🌊
Ebay Eyeing Expansion into NFT and Web3 Space with New Job Openings
The e-commerce business is looking to fill a number of roles in the non-fungible token (NFT) and Web3 technology sector, according to job posts on Linkedin from Ebay.
This comes after Ebay purchased Knownorigin, an NFT marketplace, and the business filed trademark applications for a number of NFT and metaverse services in the same month.
🌊
MetaMask Announces Scam Alert as Namecheap Hacker Sends Nefarious Emails
Investors have been cautioned of continued phishing attempts by con artists seeking to contact customers using Namecheap's third-party upstream system for emails, according to popular cryptocurrency wallet service MetaMask.
On the evening of February 12, the web hosting company Namecheap discovered that one of their third-party services had been abused to send some unwanted emails that specifically targeted users of MetaMask. The event was referred to by Namecheap as a "email gateway problem."
🌊
Binance is Open to Other Options but will Continue to Use BUSD for the Time Being
The blockchain company Paxos has been ordered to stop producing the BUSD stablecoin, which is tied to the dollar, by the New York Department of Financial Services (NYDFS). A wells notice stating that BUSD is an unregistered security was also delivered to Paxos by the US Securities and Exchange Commission (SEC).
Despite the anticipated regulatory action, Changpeng "CZ" Zhao, CEO of Binance, has made an attempt to reassure users that their funds are safe. In a thread on Twitter on February 13, Zhao claimed that BUSD is "wholly owned and controlled by Paxos" and that Paxos is subject to NYDFS regulation.
🌊
As Ether and Bitcoin Loses Popularity, Tether Predominates in Brazil
Brazilians appear to choose the stablecoin tether as their preferred cryptocurrency in a nation where economic volatility is as prevalent as coconuts.
The value of all tether transactions increased by 58% in value last year compared to the previous year, according to the federal tax administration, which analyzes data on cryptocurrency usage from international and domestic exchanges. Also widely used cryptocurrencies bitcoin and ether had drops of more than 60% from 2021.
🌊
France’s Centre Pompidou to Display CryptoPunks, Autoglyphs NFTs
The Centre Pompidou, which houses the first collection of contemporary art in Europe, will debut a new exhibition this spring that explores the relationship between blockchain technology and the arts.
The Centre Pompidou, the foremost contemporary art institution in Paris, said on February 10 that a forthcoming permanent show will focus on the relationship between art and the blockchain as represented by nonfungible tokens (NFTs).
🌊
Jump Crypto Finds Vulnerability on Binance Chain
Due to a security issue, arbitrary tokens might be created infinitely. The BNB team was discreetly informed of the problem.
Jump Crypto, a Web3 infrastructure company, has found a bug in the BNB Beacon Chain that might let anyone manufacture any number of tokens at any time. The BNB team was privately informed of the problem, which allowed for the rapid creation and distribution of a patch.
🌊
Why are Whales so Interested in Cardano (ADA) and Polygon (MATIC) Cryptocurrencies?
The cryptocurrency market is growing, and the optimism from January has encouraged whales to start hoarding alternative coins rather than dumping them. Recently, Cardano (ADA) and Polygon (MATIC) have been among of the assets that big investors have accumulated the most.
According to last week's WhaleStats report, among the top 100 BSC whales, ADA is the token that gets traded the most. Additionally, among the top 1,000 investors on the Binance network, utilization of the Ethereum rival smart contract platform stands out.
🌊
G20 Exploring Crypto Regulation: India Finance Minister
According to Finance Minister Nirmala Sitharaman on Saturday, the Group of 20 (G20) large economies is looking at the possibility of regulating cryptocurrencies as a group.
According to Sitharaman, whose nation is this year's G20 president, given the complex technology associated with these virtual assets, governments must examine if a particular legislation is necessary.
🌊
Shiba Inu Whale and Massive Polygon Quietly Amassing Ethereum-Based AI and Gaming Projects
One of the biggest Shiba Inu (SHIB) and Polygon (MATIC) whales ever is currently acquiring two Ethereum-based cryptocurrency projects.
The 94th-largest Ethereum (ETH) wallet on record, valued at about $132,163,000 at the time of publication, is controlled by the whale in question.
The whale's biggest holdings are Shiba Inus worth $10.3 million, $22.9 million in Ethereum (ETH), $21.6 million in Polygon (MATIC), and $11.3 million in Tether (USDT) (SHIB).
🌊
As the $250M Token Unlock Approaches, The Sandbox's (SAND) Price Declines
Today, metaverse platform The Sandbox will make a large number of SAND tokens available, and prices have already started to drop.
The Sandbox will introduce a new block of tokens to the market on February 14. Furthermore, the circulating supply of SAND tokens will increase by 372.5 million.
🌊
Former COO of Gemini Perlman Joins Binance Amid Heightened Regulatory Review
In January, Perlman began working for Binance. Changpeng Zhao's exchange is facing a slew of regulatory difficulties in the wake of a decline in digital assets and explosions like that of rival FTX.
When the business founded by Tyler and Cameron Winklevoss had to contend with market volatility and the bankruptcy of partner Genesis, where many Gemini customers had borrowed their currencies, Perlman left Gemini.
🌊
If you have any comments or feedback, just email us.
Thanks for reading,
J.K.
