Day: March 30, 2023

Bitcoin touches $29K! Why BTC is unaffected by regulatory pressure

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In this week’s episode of Market Talks, Cointelegraph welcomes Brent Xu, founder and CEO of Umee — a decentralized finance hub built on the Cosmos SDK that offers tools for macro-level borrowing and lending applications. Before founding Umee, Xu led strategy at Tendermint while setting the strategic roadmap and partnerships for the Cosmos Ecosystem. We start things off with our main topic for today: Bitcoin (BTC) touched $29,000, a new high for 2023, despite recent United States regulatory crackdowns on crypto firms and related uncertainty. This could also suggest the crypto market…

Japan plans to form expert panel to explore digital yen: Report

Japan’s Finance Ministry is planning to establish an expert panel in April to explore the feasibility of introducing a digital yen, Japanese news outlet NHK reported.  According to the report, the ministry’s panel will focus on the creation of a framework for a central bank digital currency (CBDC) and will refer to a technical study conducted by the Bank of Japan (BOJ) over the past two years. The ministry intends to use the findings from the expert panel to prepare for the possible issuance of a digital yen. CBDCs are…

Denmark’s supreme court rules bitcoin profits are taxable

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The supreme court of Denmark in a recent judgment ruled that profits obtained from the sale of bitcoin were taxable, with the ruling applying to investors and miners.  Investors and miners are to be taxed for gains on BTC sale  The ruling which was given on March 30, 2023, involved two cases where the court tried to determine if bitcoin profit was a taxable event.  The first case involved a party that got BTC from purchases and donations from a third party. According to the supreme court, the BTC purchase…

3 reasons why Bitcoin bulls are well positioned to profit from this week’s $4.2B options expiry

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Regulation continues to be the primary concern for Bitcoin bulls, especially after the Commodity Futures Trading Commission (CFTC) sued Binance for trading and derivatives law violations. The regulator wants Binance to repay the trading profits, revenues, salaries, commissions, loans and fees it received from US citizens, as well as paying civil penalties for the violations. The increase in Bitcoin’s price was also fueled by a shift in sentiment toward risk assets after the U.S. Federal Reserve Chair Jerome Powell said interest rate hikes are no longer the default move to…

Tron Founder Justin Sun Reportedly Lost His Diplomatic Status

Since his appointment, Sun has touted his credentials, styling himself “His Excellency” in interviews and on his social-media accounts. Sun tweeted from his diplomatic Twitter account (@HEjustinsun) as recently as October, and, as of press time, he still maintained the “H.E.” honorific on his personal Twitter account. He has given no indication that he is no longer an ambassador. Source

Gnosis launches Hashi bridge aggregator to help prevent hacks

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Gnosis, the team behind Gnosis Safe multi-sig and Gnosis Chain, has launched a hash oracle aggregator for blockchain bridges, according to an announcement from the company. In a conversation with Cointelegraph, Gnosis CEO Martin Köppelmann stated that the new aggregator should make bridges more secure by requiring more than one bridge to validate a withdrawal before it can be confirmed. Multiple bridge protocols have already committed to integrating with Hashi, including Succinct Labs, DendrETH, ZK Collective, Connext, Celer, LayerZero, Axiom, Wormhole and LI.FI, according to the announcement.  Over $2 billion…

Visa and Fold expand bitcoin rewards program together

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Visa and Fold are set to expand their joint rewards program to Latin America, Europe, and Asia Pacific, providing millions of users the opportunity to earn bitcoin on everyday purchases. Visa, the global payment processing giant, and Fold, a bitcoin rewards app, have announced their plans to broaden their existing partnership. The expansion aims to bring their joint rewards program to new regions, offering users more opportunities to earn bitcoin through everyday purchases. The Visa-Fold partnership was designed to allow Fold card users to earn bitcoin rewards for their everyday…