Month: January 2022

Europe’s Securities Watchdog Seeks Feedback on Regulations Ahead of DLT Pilot – Regulation Bitcoin News

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ESMA, the European Securities and Markets Authority, has set out to establish if EU authorities need to amend existing regulations in order to facilitate the trading and settlement of tokenized securities. The regulator is now seeking opinions on the matter ahead of launching a pilot regime for market infrastructures based on distributed ledger technology (DLT). ESMA Gathers Stakeholders’ Input on DLT Pilot Regime for Securities The European securities watchdog ESMA is accepting public comments on the potential update of regulations concerning the implementation of DLT solutions in the market. The…

Bitcoin fills $42K December price wick as analyst says ‘party just getting started’

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Bitcoin (BTC) delivered fresh volatility on Jan. 6 as rangebound behavior saw its first shake-up in weeks. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Open interest remains high Data from Cointelegraph Markets Pro and TradingView showed BTC/USD dropping overnight to hit $42,000 for the first time since December. Although not the upside breakout that many had wanted, the move was nonetheless predicted, Bitcoin essentially “filling” the space left after it briefly wicked to $41,800 early last month. Those lows were the result of a liquidation cascade, and while long positions also…

Bitcoin Twitter flips bearish, community responds

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As Bitcoin’s (BTC) price slides to 2022 lows, Bitcoin bears have come out to play. Popular names in the BTC space including FTX CEO Sam Bankman-Fried and John Carvalho heeded words of caution overnight, while long-standing gold proponent Peter Schiff and eternal pessimist CryptoWhale were keen to kick the coin while it was down.  A liquidation cascade on Thursday took out more than $318 million BTC positions, over 88% of which were long. The price corrected to around $42,500 per BTC. News of a mining ban in Kazakhstan and the…

Thailand’s Crypto Traders to Be Subject to 15% Capital Gains Tax: Report

Taxpayers in Thailand who profit from cryptocurrencies will be subject to a 15% capital gains tax this year, according to the Bangkok Post. Exchanges will be exempt, but not retail investors or mining operators, according to the newspaper, which cited an unidentified person at the Finance Ministry. The Revenue Department plans to strengthen its surveillance of cryptocurrency trading after it experienced significant growth in market size and the value of the digital asset market in 2021, according to the report. According to Section 40 of the Royal Decree amending Revenue…

Crypto trades in Thailand now reportedly subject to 15% capital gains tax

The government of Thailand is progressing in regulating the local cryptocurrency ecosystem by reportedly enacting new tax rules for the industry. Profits from crypto trading in Thailand are now subject to a 15% capital gains tax, The Bangkok Post news agency reported Thursday. The Thai Revenue Department also plans to step up its monitoring duties following a booming digital asset market last year. The department has the authority to collect taxes from crypto trades as profits from such activity are considered assessable income under Section 40 of the Royal Decree amending Revenue…

The World’s First DEX Phone App Is Now Live on Android

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The key to mass adoption of crypto is currently limited by the fact that most decentralized platforms are too difficult to use. There needs to be an interface to simplify complex, decentralized infrastructures and protocols for the public. An enhancement of user accessibility will break down entry barriers and take consumer experience to the next level. In the current crypto landscape, the major accessibility problems arise from DEXs due to their complex OS and hard-to-figure UI/UX structure. The usage rate is growing at an astonishing pace, but many exchanges are…

El Salvador Prepares Regulatory Framework To Issue Controversial Bitcoin Bonds

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Will the plan work? Soon, the Bitcoin Bonds will get the legal foundation they need. In a recent TV interview Alejandro Zelaya, El Salvador’s Finance Minister, said they will send the necessary bills to Congress. Soon. Reportedly, El Salvador will initially issue $1B worth of bonds, which will have a ten-year maturity and carry a 6.5% coupon. The bitcoin that backs them will be locked for five years. The project, announced by President Bukele at Labitconf 2021, includes plans to build Bitcoin City. More on that later. In a scheme…

Why The $LOCG Token Could Be Promising

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LegendsOfCrypto (commonly known as LOCGame) is the first play-to-earn GameFi project of Rbl Labs, a company based in Amsterdam – it focuses on NFTs (Non-Fungible Tokens) and bringing their use case to the blockchain gaming space. LOCGame is a pay-for-play and strategy card game that features several metaverse and play-to-earn features on a 3×3 battle grid. The game’s metaverse is an acknowledgment of the history of the crypto space and the pop culture associated with them. It also features many instantly recognizable playable characters in the form of popular influencers…

Binance implements a ‘fair way’ to purchase NFTs

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Due to the rise in demand, it’s increasingly harder to purchase nonfungible tokens (NFTs) on their initial launch. Because of the limited supply, and high demand, some NFT drops have sold out after only a few seconds of release.  With this, users who are interested in purchasing newly-released collections have no choice to wait until the initial owners decide to flip the NFTs for some profit, resulting in having to pay more or not being able to acquire any of the NFTs entirely.  Because of this, Binance introduced a subscription mechanism…

Ex-US CFTC Chair Advocates Building Financial Infrastructure with Blockchain

Former Chairman of the United States Commodity Futures Trading Commission (CFTC) Christopher Giancarlo slammed handlers of the economy for taking a back seat in financial innovation related to blockchain technology and cryptocurrencies. Giancarlo’s Take Christopher Giancarlo is a renowned advocate of cryptocurrencies and blockchain technologies. Christopher’s advocacy dates back to his time as Chair of the CFTC under former President Donald Trump, and at an event organized by the American Enterprise Institute this week, he said if the US does not modernize with Blockchain and crypto, the nation stands the risks of…