Day: February 4, 2022

Argentinian Government Raises Energy Costs Almost 4x for Cryptocurrency Miners – Mining Bitcoin News

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The Energy Secretary of Argentina eliminated power subsidies for cryptocurrency miners, raising the cost of energy to almost 4x what the miners were paying before. The measure affects customers of the wholesale power market in the Tierra del Fuego province, one of the provinces more notably occupied by miners in the country due to its specific climate characteristics. Argentina Eliminates Subsidies for Cryptocurrency Mining The government of Argentina has eliminated the subsidies that applied to power used by cryptocurrency miners. This is the decision that the Energy Secretary…

India’s Crypto Tax May Curb Excessive Speculation, Bring Institutional Demand

Earlier this week, Finance Minister Nirmala Sitharaman announced that profits from the sale of virtual assets would be taxed at a flat rate of 30% without any deductions or exemptions. The rate is on par with the highest income tax band, which applies to individuals earning more than 1.5 million rupees ($20,000) a year. The government also introduced a 1% tax, deducted at source (TDS), on cryptocurrency trading. Source

Social platform behind ‘retail short squeeze’ launches crypto trading

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Investor-focused social media platform Stocktwits, which gained popularity during last year’s ‘retail short squeeze’ frenzy involving GameStop and AMCTheaters, rolled out its own crypto trading services on Thursday. Stocktwits has partnered with FTX.US to carry out its crypto trading services and is set to launch US equity trading next quarter. The firm further looks to expand its trading services portfolio by offering crypto derivatives trading and other asset classes in the coming months. Big day here at Stocktwits We’re excited to share the launch of our fully integrated crypto trading,…

Solana Fix Demonstrates Self-Resilience of the Cryptocurrency Space

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Wall Street market maker Jump Trading Group ponies up to make whole the losses from the US$320 million hack of Wormhole, a “bridge” that facilitates blockchain interoperability  Fix demonstrates the commitment to the cryptocurrency space from market makers like Jump Trading Group, who want to ensure that they are at the crossroads of value and infrastructure in a new market paradigm    Hacks are unfortunately all too common in the world of cryptocurrencies. From unknowable smart contract vulnerabilities to exchange hacks, the cryptocurrency world has grown accustomed to the regularity…

Demand for Mining Equipment Drops in Russia Amid Fears of Possible Ban, Report – Mining Bitcoin News

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Platforms listing ads for mining hardware have been registering declining demand since Bank of Russia’s call for a ban on the minting of digital currencies among other crypto activities. While mining may eventually be legalized, miners can expect to pay higher electricity bills. Supply Exceeds Demand on Russian Market for Mining Chips Mining hardware is now more often offered than sought, Russian online marketplaces have noticed. The trend began after the Central Bank of Russia (CBR) published a consultation paper this month, in which the regulator proposed a blanket ban…

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