Day: February 3, 2022

China Designates 15 National Pilot Zones and 164 Entities for Blockchain Projects – Regulation Bitcoin News

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The Chinese government has established 15 pilot zones and 164 entities for blockchain projects. “Projects will be carried out in various fields such as manufacturing, energy, government and tax services, law, education, health, trade and finance, and cross border finance.” China Establishes Blockchain Testing Zones Sixteen Chinese governmental bodies jointly announced Sunday a list of national blockchain pilot zones “in order to further carry out the innovative application of blockchain” technology. The 16 governmental bodies include the People’s Bank of China (PBOC), the China Banking and Insurance Regulatory Commission, and…

‘Philly is ready’ for CityCoins says city council

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Philadelphia is on the cusp of following in the footsteps of Miami, Austin and New York City by partnering with CityCoins to develop a crypto for the city of Brotherly Love. Philadelphia Mayor Jim Kenney has endorsed the concept and told government news media site Statescoop that his office is “enthusiastic about the potential of donations from a CityCoins program to target pressing problems in the city.” Philly’s Chief Information Officer and apparent Bitcoin (BTC) supporter Mark Wheeler said that “Philly is ready” to begin working with CityCoins in a…

COINBASE NEW ALTCOIN AND NEWS…

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Bitcoin Resumes Decline, Why Bulls Might Struggle In Near-term

Bitcoin failed to test the $40,000 resistance zone against the US Dollar. BTC is now declining and might slide towards the $36,000 support zone. Bitcoin started a fresh decline after it failed to clear the $39,250 resistance zone. The price is now trading below $38,000 and the 100 hourly simple moving average. There was a break below a major bullish trend line with support near $37,500 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could continue to decline towards the $36,000 support or even…

Texas Crypto Miners Shuttering Operations as Winter Storm Approaches

To be sure, Texas, there are programs available for heavy power consumers such as crypto miners, to incentivize them to lower their energy usage during peak demand periods. For example, in exchange for helping ERCOT stabilize the grid, Riot gets to participate in load management programs and other services, including some long-term lower, fixed-pricing agreements, Payfer said. Source

Aussie billionaire sues Facebook over crypto scams with AG’s consent

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Australian billionaire Andrew “Twiggy” Forrest is taking Facebook to court over scammy cryptocurrency ads that he alleges used his name to defraud victims. The Fortescue Metals chairman is accusing Facebook of breaching Australia’s money-laundering laws, claiming that it “knowingly profits from this cycle of illegal ads” that it failed to remove. An initial court hearing in the Western Australian Magistrates court is scheduled for Mar. 28, with a committal hearing expected later in 2022. Forrest is bringing forward the charges under Part 10 of the Commonwealth Criminal Code, with the…

Thailand Relaxes Tax Rules for Crypto Investors, Scrapping 15% Withholding Tax – Taxes Bitcoin News

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Thailand has relaxed tax rules for cryptocurrency investors, scrapping its planned 15% withholding tax. “The revenue department did a lot of homework and reached out to crypto operators as well to get feedback … It is much more friendly to both investors and the industry,” said the CEO of a crypto exchange. Thailand’s New Crypto Tax Rules Thailand has scrapped its plan to impose a 15% withholding tax on cryptocurrency transactions after facing pushback from the crypto industry. The Thai Revenue Department has also published a manual outlining the new…

Simple Method To Make $100 a Day Trading Cryptocurrency

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Litecoin Creator Praises Dogecoin, Can The Token Get Its Bark Back?

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In the midst of fast-paced vacillations between Polkadot (DOT), Terra (LUNA), and DOGE, Dogecoin (DOGE), a cryptocurrency project that began as a joke but has now taken on a far more powerful persona, continues to compete for a place in the top 10 cryptocurrencies by market capitalization. Last year, Dogecoin went through two bullish stages. While the first leg was sparked by Robinhood’s adoption of the meme coin, the second was spearheaded by Tesla CEO Elon Musk, who earned the moniker “Dogefather” for his unwavering support for Dogecoin. Many observers…

UK tax agency cracks down on rules around DeFi lending and staking

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Her Majesty’s Revenue and Customs (HMRC), the U.K.’s tax agency, on Wednesday, has released a controversial set of guidance that could affect innovation in Decentralized Finance (DeFi). The updated regulation focuses on the treatment of digital assets specifically for DeFi lending and staking in the UK, and whether returns or rewards from these services are deemed as capital or revenue for taxation purposes. Owing to the cutting edge nature of DeFi these services had fallen into a grey area with tax professionals unsure of how the existing rules apply. “The…