Day: January 11, 2022

Thailand government to clear up crypto tax confusion

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Thailand is fast-tracking its crypto tax plans as it readies regulations for digital asset traders this month in an effort to provide further clarity on crypto-related activities. The Thai revenue department’s director-general has stated that clear criteria for calculating taxes on crypto trading profits will be finalized this month. The statement comes less than a week after the Southeast Asian country’s government unveiled plans to levy cryptocurrency traders and miners with a 15% capital gains tax. Thai Prime Minister Prayut Chan-o-cha had instructed the revenue department to brainstorm the issue…

Bitcoin Bounces To $42K, Why BTC Could Recover To $43.5K

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Bitcoin started a sharp recovery wave from $39,700 against the US Dollar. BTC is rising and the next major stop for the bulls might be $43,500. Bitcoin spiked towards the $39,600 level, where the bulls took a stand. The price is trading above $42,000 and the 100 hourly simple moving average. There was a break above a key bearish trend line with resistance near $41,800 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might continue to recover and test the $43,500 resistance zone in…

Associated Press to launch Polygon-based photography NFT platform

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The Associated Press (AP) is launching a nonfungible token (NFT) marketplace where collectors will be able to purchase tokenized photographs from the global news platform. The initial collection of NFTs will include photographs of subjects like space, climate, and war from AP photojournalists. They will be released over several weeks starting on Jan. 31 for varying prices, according to the marketplace’s website. The photographs will be minted as NFTs on the Ethereum layer-two scaling network, Polygon. The platform will support secondary transactions using debit or credit cards, and payments in…

UK Lawmakers Form Crypto and Digital Assets Group to Ensure Regulation Supports Innovation – Regulation Bitcoin News

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U.K. lawmakers have formed the Crypto and Digital Assets Group to ensure that new rules for the crypto industry support innovation. “We are at a crucial time for the sector as global policymakers are also now reviewing their approach to crypto and how it should be regulated,” said the British parliament member who will chair the group. British Lawmakers Form Crypto and Digital Assets Group U.K. parliament members and members of the House of Lords have formed the Crypto and Digital Assets Group, the Financial Times reported Friday. Scottish National…

OpenSea trading volume set for record month despite crypto market retreat

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The world’s leading NFT marketplace OpenSea is poised to break its own record for monthly sales on Ethereum as daily volumes are surging. OpenSea’s $2.1 billion in trading volume of nonfungible tokens (NFT) through Jan. 10 is more than half the total trading volume for the entirety of August 2021, the highest month on record. Volume reached nearly $3.5 billion in that month, according to Dune Analytics. The marketplace is currently on pace to top $6 billion in trading volume for January should the current trend continue. Current trading volume…

OpeanSea Transaction Volume Shows That NFTs Are Not Slowing, Here Are Some Projects To Consider

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We’ve only been in the new year for a few days, and OpenSea is proving to be NFT’s open sea. On the second day of 2022, the NFT marketplace, which features some of the biggest blockchain-based collectibles from Bored Apes to CryptoPunks, announced $243 million in sales. The figure went up significantly during new year’s eve. The company made $170 million on January 1 and $124 million on December 31. Opensea Sales Increased 646x In 2021, Cruises Into 2022 OpenSea ended 2021 with a total trading volume of nearly $14…

Government Report Suggests Tightening Regulations on Crypto ATMs

The GAO’s findings that crypto-enabled crime is rising are at odds with a new report from crypto research firm Chainalysis, which found that although crypto crime is increasing by volume, it reached an all-time low as a percentage of all blockchain transactions in 2021. In other words, as cryptocurrencies has become more mainstream, crypto crime will continue to rise, but the growth in above-board crypto transactions is outpacing illicit activity. Source

Estonia Offers to Share Crypto Experience With US to Identify Best Practices for Digital Assets – Regulation Bitcoin News

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Estonian Finance Minister Keit Pentus-Rosimannus has offered to share her country’s experience in regulating cryptocurrencies with the U.S. in a discussion with Treasury Secretary Janet Yellen. Estonia Offers to Share Crypto Experience With the US U.S. Treasury Secretary Janet Yellen and Estonian Finance Minister Keit Pentus-Rosimannus reportedly discussed cryptocurrency regulation during a video call Friday. Among the topics discussed by the two was Estonia’s proposed new cryptocurrency regulation, ERR News reported. “The U.S. is one of Estonia’s most important partners in the field of security, and also in financial matters.…

TZERO Settles SEC Charges It Violated Disclosure Rules

TZERO proposed the settlement, which the SEC accepted, according to the order. Under the terms of the settlement, TZERO is neither admitting nor denying the SEC’s findings. This is the SEC’s second enforcement action and settlement in 2022, following a settlement with decentralized prediction market Polymarket earlier this month. Source