Koinly, a crypto tax firm located in the United Kingdom, has announced the layoff of 14% of its worldwide staff to tackle the tough circumstances affecting the cryptocurrency sector and economy at large. There will be a total of 16 layoffs, with CEO Robin Singh citing the worsening bear market
Several measures governing cryptocurrency mining in Kazakhstan have been enacted by the Kazakh legislature, including the “On Digital Assets of the Republic of Kazakhstan” bill. There will be new tax laws for cryptocurrencies, advertising for cryptocurrency transactions will be prohibited, and miners will be required to buy only power that
According to the Financial Times, the UK Treasury is working to finalize a framework for Crypto regulation. There have been some major legislative shifts in the crypto industry and its interactions with overseas businesses that have made headlines recently. The regulatory status of cryptocurrencies has dominated headlines throughout the FTX
The memo, headlined “The financial-market surprises of 2023,” was released by Standard Chartered Bank on Sunday. Eric Robertsen, Standard Chartered’s global director of research, said that some of the possibilities outlined in the report are “under-priced by the markets.” The price of bitcoin may fall below $5,000 in the next
In a hearing on Thursday titled “Why Congress Needs to Act: Lessons Learned from the FTX Collapse,” U.S. Senator John Boozman (R-AR), the ranking member of the U.S. Senate Committee on Agriculture, Nutrition, and Forestry, discussed bitcoin and cryptocurrency regulation. Moreover, the committee’s mandate includes monitoring the American commodities markets.
The Nobel prize laureate Paul Krugman is warning that blockchain-based projects, such as Bitcoin and other cryptocurrency networks, will soon enter an unending cryptocurrency winter. A column written by an economist and published in the New York Times on December 1st explains the technology’s true value and the warning signals
Michael Burry, the founder of the investing company Scion Asset Management, has predicted the coming of a “real recession” that would persist for many years. Burry is well-known for predicting the 2007–2010 U.S. subprime mortgage crisis and making money off of it. The movie “The Big Short,” starring Christian Bale,
Despite the volatile price of Bitcoin, a recent analysis by Kommersant shows that purchases of Bitcoin mining devices in the nation skyrocketed in the fourth quarter. Low costs for gear and power have also contributed to the dramatic growth. Sales at Chilkoot, one of Russia’s authorized dealers of cryptocurrency mining
Billionaire Mike Novogratz, one of the cryptocurrency advocates, is now included in the catastrophic collapse scenario. Novogratz pulled off his previous prediction that Bitcoin (BTC) will reach $500,000 in five years, blaming the Federal Reserve interest rate hike. The Galaxy Digitals CEO stated that Bitcoin will reach the $500K level,
Adding to the recent measures taken by Portugal, another European nation plans to increase crypto trading taxes. Italy’s proposed budget for 2023 includes a measure that would impose a whopping 26% tax on crypto-related capital gains. This tax bracket, however, kicks in whenever crypto revenues are above €2,000 (approx $2,062).
