Day: December 9, 2022

UK pushes crypto efforts forward through financial services reforms

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The United Kingdom’s Chancellor of the Exchequer Jeremy Hunt laid out a number of reforms aiming to “drive growth and competitiveness” to the country’s financial services sector including efforts that support the crypto space. In an announcement, the U.K. government highlighted that it will create a smarter regulatory framework for the country that it describes as “agile, less costly and more responsive to emerging trends.” Topics mentioned in the announcement include consulting on proposals for the establishment of a central bank digital currency (CBDC), extending a crypto tax break for…

NFTs could help solve diamond certification fraud

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Diamonds may be a girl’s best friend, but unfortunately, the billion-dollar diamond industry is rife with scandal and fraud. There have been a number of cases where lab-grown diamonds have been graded as natural diamonds. An example of this was seen last year when the International Gemological Institute analyzed and graded a 6.18ct lab-grown diamond, which was previously claimed to be a natural diamond on its Gemological Institute of America (GIA) report.  It was also reported in 2005 that the Gemological Institute of America — which is one of the…

The First Insurance for Individual Crypto Investors against Scams

Place/Date: – December 9th, 2022 at 1:00 pm UTC · 3 min read Source: HealthPotion Over the last 4 years, the top issue across all crypto-asset complaints was “Fraud or scam”. The value of these scams is increasing all the time, soaring to $14bn in 2021. Scams increase during a bear market especially due to the financial vulnerability of the consumers. HealthPotion wants to combat these scams with the first end to end insurance product for individual investors against scams in crypto. Individuals Can Get Reimbursed after a Scam For…

NFTs, Nonprofits and Longevity Intersect at Art Basel Miami

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Just as Art Basel has expanded beyond its initial gallery showcases in Switzerland, where the international art fair was conceived, the pursuit of longer and more fulfilling lives has grown from the subject of science fiction novels to real, viable science. Now the evolution of art is being leveraged as the Longevity Science Foundation’s partnership with Triptych and digital artist Nikita Replyanski leveled up during Art Basel in Miami Beach. The partnership to launch a collection of nonfungible tokens (NFTs) was announced during the summer. Longevity Volumes” will help fund…

Japanese Regulator Extends FTX Japan’s Suspension as Users Wait for Their Funds

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Latest Ethereum Short Price Rally, Courtesy Of Whale Activities?

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Ethereum has been showing bullish momentum in the last seven days. ETH has gained momentum in the past 24 hours, while other coins are still declining. This rally supports some theories that the asset will rise above the resistance level in the coming days. Weeks after a massive fallout, the second largest cryptocurrency is heading towards a comeback. The FTX crisis, with other macro factors, affected the entire crypto market, with many assets crashing flat. Although there are many uncertainties in the crypto market, hope seems to be returning to…

FTX’s Sam Bankman-Fried to Testify in Front of US House Financial Committee

Bankman-Fried said his contribution would be limited, as he says he still does not have access to the personal and professional data that could underpin testimony. He resigned on Nov. 11, the day the company filed for bankruptcy after revelations published in CryptoX concerning FTX’s relationship to sister company Alameda Research. Source BankmanFriedCommitteeFinancialFrontFTXsHouseSamTestify CryptoX Portal

Brussels Wants All Crypto Service Providers to Report Transactions of Europeans – Taxes Bitcoin News

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The European Commission has set out to oblige platforms processing crypto transactions for EU residents to share information with tax authorities in the Union. According to the proposal, all crypto service providers, regardless of where they are based, will have to abide by the new rules. EU to Consider New Reporting Requirements for Crypto Platforms Serving European Users The executive power in Brussels intends to push through new “tax transparency rules” for the crypto industry. The proposal announced on Thursday concerns all service providers facilitating transactions in crypto assets for…

Snapdeal Shelves IPO Plans as Investor Appetite for Tech Stock Wanes

The Snapdeal IPO may be launched at a later date. According to the firm, a move will depend on their need for capital at that time. Indian e-commerce marketplace Snapdeal is cutting its plans to float its Initial Public Offering (IPO) in which it plans to raise the sum of $152 million from investors. The company submitted a filing to the country’s market regulator SEBI in order to withdraw its IPO Prospectus, sources close to the matter confirmed. The move from Snapdeal puts an end to the more than 11…