U.S. capital gains tax laws are likely to catch out many new users of PayPal’s cryptocurrency payments system The news that payments company PayPal will support cryptocurrencies has given the industry a major boost — but there are tax implications that are little understood by crypto noobs. PayPal users will soon be able to use…
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All 350 members of Spain’s lower house got 1 euro equivalent in cryptocurrency, and it’s not a donation. Members of Spain’s lower house of Congress saw a surprise in their inboxes, the equivalent of 1 euro in crypto. As reported by Spanish news outfit ABC, the plan is spearheaded by Tutellus, a decentralized platform looking…
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The DoJ’s guidance around cryptocurrency enforcement, that cites “crime” and “criminals” 168 times, has been poorly received. The new cryptocurrency enforcement guidelines by the Department of Justice (DoJ) have received a negative response from segments of the crypto community. Published earlier today by the attorney general for the U.S. William Barr, the DOJ report aims…
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Local authorities hope that tackling the issue will restore trust in the e-residency program. The e-residency program of Estonia is now under the local regulator’s radar as foreigners registered as e-residents of the Baltic nation are being linked to cryptocurrency frauds. The local police’s Financial Intelligence Unit has discovered that overseas companies owned by e-residents…
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Mainstream finance giants may hold more Bitcoin than you think. The Norwegian Government Pension Fund, also known as the Oil Fund, has over $1 trillion in assets, including 1.4% of all global stocks and shares. It is considered the world’s largest sovereign wealth fund. According to Arcane Research’s report on Sept. 19, the fund also…
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Local sources speculate on the possibilities of a cryptocurrency ban in India. The draconian bill introduced by the country’s former finance secretary Subhash Chandra Garg in 2019 to ban cryptocurrencies in India haunts the country’s crypto enthusiasts and entrepreneurs to this day. Reports from Bloomberg and the local news outlet Economic Times about the further…
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The plot thickens as Bithumb director’s shares are seized after he had applied for the seizure of the chairman’s shares. South Korea’s largest cryptocurrency exchange Bithumb has been raided by the Seoul Metropolitan Police for the third time this month, according to a report in a local media outlet. During the Sep. 16 raid, police…
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After providing initial seed funding to Luno in 2014, Digital Currency Group has acquired the cryptocurrency exchange platform. One of the largest organizations investing in blockchain companies, Digital Currency Group, or DCG, has acquired the British multinational cryptocurrency exchange Luno. DCG first bought a stake in Luno by investing in the exchange’s seed round in…
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China looks into DeFi. Cointelegraph China’s DeFi Marathon invited global DeFi projects, venture capitalists, and influential individuals to join a three-day online decentralized finance themed event, from Sep. 2 to Sep 4. Participants included Ontology, Darwinia network, Miniswap, and Dexe.network blockchain projects along with DeFi projects such as ForTube, Bitfrost, Gollf, Akropoliks, and Nest protocol.…
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The halcyon days of state subsidized electricity are over. Officials from Inner Mongolia are mulling an electrical policy that would prevent cryptocurrency miners from using inexpensive, state-subsidized electricity. Per the Inner Mongolia Electric Power Group Co, the region expects to recover around 6.732 billion yuan ($977 million) in taxes and fees thanks to these new…
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