Month: March 2022

BANKS ISSUE DIRE WARNING ABOUT BITCOIN

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The Philippines to launch pilot CBDC implementation

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As the world of finance continues to transform, new forms of money are challenging traditional monetary infrastructures that have been around for a long time. Currently, central bank digital currencies (CBDCs) have caught the eye of various countries, including the Philippines. In a joint event organized by Bangko Sentral ng Pilipinas (BSP) and the Alliance for Financial Inclusion, Benjamin E. Diokno, the Philippines’ central bank governor, announced the rollout of Project CBDCPh, a pilot implementation of a CBDC for the country. According to Diokno, the project aims to improve “the payment…

Binance Launches Bitfinity, a Payments Company Targeting the Web3 Economy – Bitcoin News

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Leading cryptocurrency exchange Binance has announced the launch of its own payments processing company, Bitfinity. Bitfinity will act as the default fiat-to-crypto payments ramp for the exchange, as well as for other blockchains. With this launch, Binance also targets the expanding Web3 economy, partnering with Paysafe and Checkout.com. Bitfinity Launches to Help Merchants Accept Crypto Binance, one of the largest exchanges by volume traded, recently announced the launch of Bitfinity, its own payments technology company. Bitfinity will become the de facto fiat-to-crypto payments processor of the exchange, supporting…

Thailand reportedly exempts 7% crypto tax for traders on authorized exchanges

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The finance ministry of Thailand has reportedly eased up crypto tax regulations to promote investment in the digital asset market. The changes to the tax regulations come just a few weeks after the government scrapped its early plans of introducing a 15% tax on crypto gains. The new tax policy exempts crypto traders from the 7% value-added tax (VAT) on authorized exchanges, reported Reuters. The revised tax policy would also allow traders to offset their annual losses against gains for their crypto investment. This comes as big relief for traders,…

WILL BTC PUMP OR DUMP? WHAT'S NEXT FOR BITCOIN? BITCOIN TECHNICAL ANALYSIS

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World of Women Teams Up With The Sandbox for $25M Inclusivity Push

World of Women has seen a dramatic rise to the top of the NFT charts since its launch in November, touting a 7.1 ETH (roughly $17,500) floor price on secondary marketplace OpenSea. The project has benefited heavily from promotion by actress Reese Witherspoon, whose media company Hello Sunshine partnered with the project in February. Source

Chinese police busts illegal crypto mining farm, seizes 190 miners

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The Guangdong province’s Development and Reform Commission has reportedly busted an illegal crypto mining farm secretly operating in an electric vehicle charging station. The secret crypto mining farm was busted in the city of Guangzhou, where law enforcement agencies have constantly been making inspections around cities to enforce and eradicate any form of mining operations in the region, reported a local publication. The covert mining operation used over 190 crypto mining machines estimated to be worth 5 million yuan ($7,91,450), which were seized on the spot. The authorities claimed that…