Day: December 31, 2021

Jason Yanowitz and Michael Ippolito on the Most Important Stories of 2021

This episode is sponsored by NYDIG. Download this episode On the final episode of “The Breakdown’s” “End of Year Extravaganza,” NLW is joined by Jason Yanowitz and Michael Ippolito, the founders of Blockworks, a growing media company focused on the stories shaping the crypto space. Find our guests on Twitter: @JasonYanowitz @MikeIppolito_ See also: Market Wrap Year-End Review: Altcoins, NFTs Filled Void When Bitcoin Got Boring “The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell, research by Scott Hill and additional production…

Paris Hilton, Times Square, and ETFs

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Following the announcement that Facebook’s parent company would be rebranding in a shift towards the Metaverse, many projects have started similar initiatives entering the virtual space, from buying property to testing the limits of what this universe has to offer.  Virtual ball drop on NYE The Ethereum-based virtual reality world Decentraland announced on Wednesday that a New Year’s Eve celebration would be taking place in the Metaverse. Grayscale owner Digital Currency Group has partnered with real estate firm Jamestown to create a virtual One Times Square — the iconic New…

Will US regulators shake stablecoins into high-tech banks?

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Regulators around the world have been thinking seriously about the risks associated with stablecoins since 2019 but recently, concerns have intensified, particularly in the United States.  In November, the United States’ President’s Working Group on Financial Markets, or PWG, issued a key report, raising questions about possible “stablecoin runs” as well as “payment system risk.” The U.S Senate followed up in December with hearings on stablecoin risks. It raises questions: Is stablecoin regulation coming to the U.S. in 2022? If so, will it be “broad stroke” federal legislation or more…

Volatility Ruled Crypto Markets in 2021, From $69K Bitcoin to Elon Musk’s ‘Dogecoin to the Moooonn’

Bitcoin staged a powerful rally to start off 2021, punctuated by tweets from the billionaire Tesla founder Elon Musk that sent prices soaring for the joke token dogecoin. Soon, though, China’s crackdown on cryptocurrency mining and increasingly nagging concerns over the Bitcoin blockchain’s environmental footprint cast a pall over the market. Instead, crypto traders aped into all sorts of bets on NFTs, video game-linked tokens like Axie Infinity’s AXS and up-and-coming blockchains like Solana and Terra. (Were they fads or a technological revolution?) El Salvador adopted bitcoin as legal tender,…

Centralized systems are here to stay, says Binance CEO CZ

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The Chinese-Canadian business executive’s standout message was that centralized exchanges like Binance would remain relevant in 2022 and beyond. Riposting to a loaded tweet about centralized finance’s dark side as well as the future of decentralized finance, CZ said, “Today, we still need the centralized systems to integrate with the traditional financial industry so that we can bring the money into and out of crypto.” He caveated the sentiment with reference to the cryptocurrency market as still being a nascent industry, prone to “hackers, Ponzi schemes and scammers.” Keen readers…

Donated or Inherited Virtual Assets to Be Taxed by South Korea’s NTS – Taxes Bitcoin News

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Starting in the year 2022, donated or inherited virtual assets will be assessed and taxed accordingly, South Korea’s National Tax Service has said. Dunamu, Bithumb Korea, Korbit, and Coinone are the new virtual asset service providers (VASPs) tasked with evaluating digital assets for such tax purposes. Virtual Asset Service Providers Tasked With Evaluating Crypto Gifts South Korea’s National Tax Service (NTS) recently announced that starting in 2022, digital assets that are inherited or donated will be taxed, a report has said. It added that such digital assets will be taxed…

Valereum acquires Gibraltar-based Juno to expand on crypto-fiat bridge

Gibraltar-based tech group Valereum Blockchain announced the acquisition of Juno Group, a company that aids in the establishment and administration of trusts, money management and enterprise creation in Gibraltar. Juno is a company that Valereum describes as having three areas of licensed operation: the management of trusts and similar entities, the administration of cash for a range of activities, including both fiat and cryptocurrency transactions, and the incorporation and management of businesses in Gibraltar and other countries around the world. The agreement is a step toward creating a fully regulated link between…

Cryptocurrencies Approach New Year in Positive Mood

Cryptocurrencies moved toward the year-end in a positive mood, with bitcoin – the largest by market value – adding about 3% over 24 hours and ether, the No. 2, also gaining more than 3%, CoinDesk data show. Bitcoin climbed above $48,000, the highest in three days, while ether topped $3,800, the most since Wednesday. All of the 10 largest cryptocurrencies were advancing as of 10:35 UTC, though all are lower than at the same time a week ago and all except Terra’s LUNA token and stablecoins tether and USDC are…