Being the first government to recognize Bitcoin as legal cash, El Salvador has made the bold move of abolishing all taxes on technological advancements. This action is being taken in tandem with the launch of El Salvador’s National Bitcoin Office (ONBTC), or “the Bitcoin office.” Moreover, to combat hyperinflation and
April 1, 2023 2 mins read
There was a 0.3% rise in U.S. inflation as measured by the Personal Consumption Expenditures (PCE) Price Index in February. This follows a report from the United States Bureau of Economic Analysis (BEA). Market participants had expected a reading closer to 0.4%. Core PCE increased by 4.6% over the last
March 31, 2023 1 min read
After a recent petition filed in the FTX bankruptcy proceedings. Leading cryptocurrency exchange OKX detailed intentions to restore frozen digital assets related to Sam Bankman-Fried’s crypto firms, FTX and Alameda Research. The Seychelles-based exchange said that it has launched an inquiry into FTX to ascertain whether or not the company
March 31, 2023 1 min read
The Denmark Supreme Court decided that bitcoin sales proceeds must be taxed as ordinary income. Investors and miners are both affected by the new law. The Højesteret, Denmark’s highest court and the last arbiter in civil and criminal matters, issued a ruling on March 30 mandating taxation on bitcoin gains.
March 30, 2023 1 min read
OKX, a cryptocurrency exchange located in Seychelles, has indicated its desire to begin offering its services in Australia. The exchange sees Australia as a promising market for the next wave of cryptocurrency adoption. In a statement released on March 29th, the trading platform said that Australia will be an important
March 30, 2023 2 mins read
Gary Gensler, the current head of the US Securities and Exchange Commission (SEC), will testify before the House Financial Services Committee. Rep. Patrick McHenry, chairman of the Financial Services Committee, revealed in a recent interview that Gensler would testify before the panel on April 18. McHenry projected that the SEC
March 29, 2023 2 mins read
An official partnership between the Polygon blockchain platform and Wakweli, the web3 infrastructure protocol that produces certificates of validity for non-fungible tokens, has been revealed. As a result of the agreement, Wakweli’s certification system will be interoperable with all digital assets on Polygon. Also, any NFT project holder in the
March 29, 2023 1 min read
The Bank of Japan has said that it must be prepared to issue a CBDC in order to provide the public with a secure digital payment system. The comments made by Governor Haruhiko Kuroda were published by Reuters on Tuesday. In April, the country’s central bank will launch a pilot
March 28, 2023 2 mins read
In negotiations with US authorities, former CEO Sam Bankman-Fried achieved an agreement on revised bail terms. The attorneys requested that the court approve the signing of the proposed papers which include a phone and laptop with restricted internet access. The bail restrictions offered by the prosecution and amendments such as
March 28, 2023 2 mins read
The U.S. regulatory crackdown on the crypto sector continues with the latest being Binance. The biggest cryptocurrency exchange, Binance Holdings Ltd., and its CEO, Changpeng “CZ” Zhao, have been sued by the U.S. Commodity Futures Trading Commission (CFTC) for allegedly breaking trading and derivatives rules. On Monday, the CFTC filed
March 27, 2023 2 mins read
