Crypto regulation in India is still an ongoing debate, the country’s Finance Secretary T. V. Somanathan stressed, noting that, for now, cryptoassets are not illegal and are treated as gambling. “The government’s approach is to consult widely and also to look at what’s happening internationally,” he told Bloomberg TV, adding that while cryptossets are…
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Lebanon allegedly plans to forcibly convert foreign currency holdings to its floundering pound (LBP), once again building a case for Bitcoin (BTC). Earlier this week, Reuters reported that it had seen a government “blueprint” plan designed to fight the ongoing financial crisis. The plan, the news agency wrote, “projects a 93% devaluation of the…
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The DIAN, the Colombian tax authority, has announced it is taking special measures to tighten controls on taxpayers currently using cryptocurrencies to transact. With these actions, the organization seeks to detect any taxpayers that have used crypto assets and failed to report these activities, or reported them erroneously. This action seeks to thwart cryptocurrency-related tax…
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Bitcoin (BTC) is fundamentally different from any other digital asset and no other digital asset is likely to improve upon bitcoin as a monetary good, according to digital asset-focused financial services provider Fidelity Digital Assets…. Read More: Bitcoin Is ‘Fundamentally Different’ From Other Cryptos, Unlikely To Be Replaced – Fidelity Read more »Pay, Trade,…
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Despite the large burn value, the network is still inflationary until its PoS transition scheduled for Q2 or Q3. According to blockchain data from Nansen Analytics on Tuesday, over $1.096 billion worth of Ethereum (ETH) has been burned in the past month. With the introduction of the EIP-1559 last August, a portion of fees is…
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In another turn of events involving India’s crypto policy, the country’s Finance Minister Nirmala Sitharaman has proposed to tax gains from crypto transfers at a 30% rate, with no deductions to be allowed. Moreover, the country’s central bank digital currency (CBDC), the digital rupee, is to be rolled out by the Reserve Bank of…
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Binance has announced one of its trademark features, the SAFU fund, has reached a milestone in its development. The SAFU fund, an acronym that stands for “Secure Asset Fund for Users,” has reached the amount of one billion dollars, securing the funds of users in case of a hacking emergency. The exchange, which is one…
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Circle, the operator of USDC, one of the biggest stablecoins by market cap, has launched USDC as a native asset on top of the Flow blockchain. Flow is a blockchain project made to host NFT and game-based initiatives, aiming for low fees and a high volume of transactions. With this launch, USDC aims to keep…
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Two South Korean YouTubers who robbed a fellow crypto broadcaster by spiking them with sleeping pills and stealing USD 660,000 worth of tokens, have been sentenced to three years behind bars – after a disagreement about sharing the profits of their social media behavior got out of hand…. Read More: Men Who Spiked a…
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In addition to environmental metrics, the U.S. now accounts for 49% of the world’s Bitcoin cash rate. In a new report published by CoinShares on Monday, the firm estimated that the Bitcoin (BTC) mining network emitted 42 megatons, or Mt, (1Mt = 1 million tons) of carbon dioxide, or CO2, in 2021. In context, the…
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