Month: February 2022

Indian Crypto Exchanges Met With Finance Ministry Officials to Seek Tax Reconsideration

โ€œUncertainty surrounding cryptocurrency regulations, limited knowledge of the capital market and a desire to maximize profits drove exchanges to innovate unnecessarily, to the point where complexity became too much to handle โ€“ taking positions against the market, custodian, settlement, evangelism, airdrops and initial coin offerings (ICO), and incentivizing trades with rewards. Obviously, TDS is complicated for them. For exchanges engaged in standard exchange operations, TDS should be a cakewalk,โ€ Mehta said. Source

European Commission to Launch Digital Euro Consultations in March, Propose Bill Early Next Year โ€“ Finance Bitcoin News

boss

The executive arm of the EU is gearing up to start public consultations on the digital euro project next month. The European Commission will also prepare new legislation to establish the legal basis for the digital version of the common European fiat. A draft is expected in 2023. EU Finance Chief Announces Legislative Plan for Digital Euro The European Commission (EC) is planning to put forward a bill tailored to lay down the legal foundation for a digital euro currency, Politico reported this week. The legislation will support the European…

Hereโ€™s the scoreboard of crypto ads

boss

Super Bowl commercials have always been an intrinsic part of the annual National Football League (NFL) championship and for business, a fair sign of making it in the real world. This year, however, marked a new milestone for the crypto community as FTX, eToro, Crypto.com and Coinbase debuted crypto ads in Super Bowl 2022. With rising demand in crypto โ€” recently fueled by nonfungible tokens (NFT), meme tokens and the Metaverse โ€” Super Bowl crypto ads stole the limelight from traditional businesses on social media platforms like Twitter. Letโ€™s gauge…

UK tax authority makes first NFT seizure in VAT fraud case

boss

HM Revenue and Customs (HMRC), the chief tax authority in the United Kingdom, have seized three nonfungible tokens (NFTs) associated with a suspected tax evasion fraud. The tax watchdog claimed it was the first U.K. law enforcement agency to seize NFT. The NFT seizure came along with the arrest of three people who are suspected of evading taxes using various sophisticated means, reportedย BBC. The arrested suspects in the case reportedly used fake identities and created 250 fake โ€˜shellโ€™ companies to evade ยฃ1.4 million ($1.8 million) in value-added taxes (VAT). HMRC…

Preventing an Energy Crisis Through Blockchain

boss

Nothing has shaped modern human life on this planet more than electricity. It powers our homes, our appliances, our heating and cooling systems, our electronics, our computers, our phones and the internet. It powers industry, science, research, hospitals, agriculture, manufacturing, construction, and public transportation. Electricity is so essential that we only realize how dependent we are on it when it is no longer available. As recent historic events have shown, including fires, floods, hurricanes and other severe weather events, our power grids are vulnerable to failure. They are built on…

Indian Finance Minister Says RBI Is on Board With New Crypto Rules

“We were all discussing prior to the budget. And we shall continue to have the discussions. And all decisions … are being taken on it, obviously, because it [is] very serious, it is a digital currency from the central bank of some sort, of some shape, some color, some description. So obviously it will be with both of us having had enough consultations,” she added. Source

Crypto miners exempt from IRS reporting rules, US Treasury affirms

The cryptocurrency industry in the United States is about to score a major legal win as the U.S. Treasury Department plans to spare crypto miners, and other โ€œancillary partiesโ€ from tax reporting rules. In a letter to a group of senators on Friday, the U.S. Treasury indicated that it plans to exempt crypto miners, stakers and other market participants from rules that would require crypto brokers to share data on their clientsโ€™ transactions with the Internal Revenue Service. โ€œAppreciate the Treasury Department affirming that crypto miners, stakers and those who…

Coinbase vs. FTX: BEST Crypto Exchange Showdown!! ๐ŸฅŠ

โ–ถ Coinbase Website: Coinbase.com โ–ถ CEX Website: cex.io ๐Ÿ“ฒ Insider Info in my Socials ๐Ÿ‘‰ ๐Ÿ›’ Get On FTX: Get 1st $30 In Fees For FREE ๐Ÿ‘‰ ๐Ÿ›’ Try out Coinbase ๐Ÿ‘‰ ๐Ÿ‘• Check Out My Merch ๐Ÿ‘‰ ๐Ÿ”ฅ TOP Crypto TIPS In My Newsletter ๐Ÿ‘‰ ~~~~~ – TIMESTAMPS – 0:00โ€‹ Intro 2:00 Who are FTX & Coinbase Pro? 6:06 Security 10:55 Supported Countries 12:48 Funding Methods & Deposit Fees 14:47 Trading Fees 16:55 Trading Platforms 19:04 Customer Support 20:14 Other Features 22:50 Final Thoughts ~~~~~ ๐Ÿ“บ Recommended Vids ๐Ÿ“บ…

Crypto Not Showing Any Robust Ascent

Ethereum (ETH) is trading at USD2,932.45, with a trading volume of USD9,666,018,686 in the last 24 hours. Ethereum price posted a gain of 1.23%, a 24-hour low of $2,870.18, and a high of $2,980.08. It is currently at the No. 2 spot on the Coin Market Cap chart, with a current market cap of USD350,616,744,281. Tokens in circulation now total 119,564,241 ETH. Three months ago, ETH โ€“ the second-biggest cryptocurrency โ€“ was trading at $4,809; on Jan. 11, 2022, it dropped to $3,251, and on Feb. 4, it was at…

DBS Plans to Launch Retail Digital Assets Trading Desk by Year End

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase…