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It’s worth noting that inflation has been over 7% for the last seven months. The country in question had the biggest positive flows of crypto, totaling $2.9 million. Rising inflation has eroded the purchasing power of the average person throughout the globe, creating a cost-of-living issue. Inflation rates throughout the
IntoTheBlock, a blockchain analytics company, reports that the quantity of Bitcoin kept in reserve by mining businesses has dropped to levels not seen since February 2010. That’s been the case for most of 2022 as well. According to IntoTheBlock, Bitcoin miners had a total of 1.91 million BTC in their
Coin Center sees the action filed today as crucial to the protection of users’ privacy. Coinbase filed a federal lawsuit against the US Treasury last month. Crypto policy-focused non-profit ‘Coin Center’ on Wednesday sued the US Treasury Department’s Office of Foreign Asset Control (OFAC), alleging that OFAC exceeded its power
The measure was presented in the lower house of Kazakhstan’s parliament. With the new license system comes a new taxation mechanism for crypto miners. One of the most popular places for cryptocurrency miners to set up shop is Kazakhstan, which is why the government there is considering making mining licenses
Sovryn, a company aiming to provide individuals all across the world financial independence and self-determination, has just announced that it has raised $5.42 million in a round of investment headed by General Catalyst. Collider Ventures, Bering Waters, Bollinger Investment Group, and Balaji Srinivasan also participated in the round as investors.
Concerns over a potential economic downturn are sure to rise in light of these figures. According to the World Bank, a severe recession in the global economy is possible. The GDP in the UK has contracted by 0.3%, which is a surprising result. The Office of National Statistics’ monthly estimates
The bank announced its ambitions to provide cryptocurrency services in February 2021. The bank will also make use of Chainalysis’s services to track the route of crypto assets. Currently, BNY Mellon is willing to provide its customers cryptocurrency custody services. Companies and organizations seek to acquire digital assets as the
Individuals in Portugal have been excluded from paying capital gains tax on cryptocurrency profits for some time, but Finance Minister Fernando Medina has recently said that this exemption must end. According to a proposed budget for 2023 that was presented to Portugal’s parliament on Monday, Medina is proposing a 28%
One of his key goals of Fed is to reduce inflation to below two percent. She points out that the Fed has approved four straight rate rises of 75 basis points. Ark Invest CEO and Chief Investment Officer Cathie Wood blame the Federal Reserve for deflation. To reduce inflation, the
The European Parliament voted in favor of the law by a margin of 28 to 1. It also requires stablecoin businesses to have sufficient capital. Europe has taken a significant step toward regulating the cryptocurrency market. European Union legislators approved the Markets in Crypto Assets Regulation (MiCA) today. A historic
