Day: December 1, 2022

Italy to impose 26% capital gains tax on crypto profits

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Italy is planning to tighten regulations on digital currencies by expanding its tax laws to include cryptocurrency trading in 2023, according to budget documentation released on Dec. 1. Included in its 2023 budget are plans to impose a 26% levy on profits larger than 2000 euros ( $2,062.3) made on cryptocurrency trading, according to Bloomberg. Prior to this proposal, digital currencies had lower tax rates because they were previously considered “foreign currency.” In the proposed bill, taxpayers will have the option to declare the value of their digital asset holdings as…

Despite the Former FTX CEO’s Media Tour Many Unanswered Questions Remain – Bitcoin News

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Former FTX CEO Sam Bankman-Fried (SBF) has been talking a lot more since his exchange collapsed a few weeks ago, as he’s spoken at the New York Times Dealbook Summit, sat down with Good Morning America host George Stephanopoulos, and recently conducted an interview with New York Magazine. While doing all of these interviews, SBF has revealed very little and crypto supporters believe SBF is being portrayed as the “boy next door” who simply made a bad mistake, and people are wondering why the FTX co-founder is being treated so…

Bitcoin price volatility expected ahead of Friday’s $430M BTC options expiry

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Bitcoin (BTC) has been stuck below the $18,600 resistance for the past 19 days and while bears successfully breached the $16,000 support on Nov. 21, the 8% range is pretty narrow for an asset class with 60% annualized volatility. This gives investors good reason to doubt that BTC price will hold its current gains leading into the $430 million BTC options expiry on Dec. 2. Bitcoin/USD price index, 12-hour chart. Source: TradingView Investors are still unsure about whether $15,500 was the Bitcoin bottom and the consequences of the FTX and…

Coinbase claims Apple blocked wallet app release over gas fees

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The self-custody crypto wallet from Coinbase said users can no longer send nonfungible tokens, or NFTs, due to interference from Apple. In a Dec. 1 Twitter thread, Coinbase Wallet said the tech company with a more than $2 trillion market capitalization had blocked the latest release of its app in an effort to “collect 30% of the gas fee” through in-app purchases. The platform claimed Apple wanted Coinbase Wallet to disable NFT transactions, introducing “new policies to protect their profits at the expense of consumer investment in NFTs and developer…

Coinbase Disables Mobile NFT Transfers, Citing Apple’s App Store Policies

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Coinbase Disables Mobile NFT Trading, Citing Apple’s App Store Policies

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. 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…

CFTC Chairman Rostin Behnam cites LedgerX as success story amid FTX collapse

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Commodity Futures Trading Commission (CFTC) Chairman Rostin Behnam has cited FTX Group’s LedgerX as an example of how regulating crypto firms could benefit United States consumers. The U.S.-based crypto derivatives and clearing platform was not part of its parent company’s recent bankruptcy filing. At a Dec. 1 hearing of the Senate Agriculture Committee exploring the collapse of FTX, Behnam said LedgerX had essentially been “walled off” from the other companies within FTX Group, including those that filed for bankruptcy. The CFTC chairman said that LedgerX was “healthy,” “solvent,” and “operational” compared…

Rostin Behnam points to CFTC-regulated LedgerX as success story amid FTX collapse

Commodity Futures Trading Commission, or CFTC, chair Rostin Behnam has cited LedgerX, the crypto derivatives and clearing platform based in the United States which was not part of FTX Group’s Chapter 11 filing, as an example of how regulating crypto firms could benefit U.S. consumers.  In a Dec. 1 hearing of the Senate Agriculture Committee exploring the collapse of FTX, Behnam said LedgerX had essentially been “walled off” from many of the companies within FTX Group — including those that filed for bankruptcy — that provided a regulatory window for…