Month: April 2023

Tax Benefits for Bitcoin Businesses in Belarus Extended Until 2025 – Taxes Bitcoin News

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Tax exemptions for companies and individuals legally working with cryptocurrencies in Belarus will remain in place until Jan. 1, 2025. A new presidential decree extends the tax cuts introduced in 2018 when the executive power in Minsk legalized crypto activities such as mining and trading. Belarus to Maintain Its Crypto-Friendly Tax Regime for Another 2 Years President of Belarus Alexander Lukashenko has approved the extension of the tax preferences provided to crypto companies registered in the country and people involved in the industry. On Tuesday, the Belarusian leader signed Decree…

Bittrex to shut down US operations, cites regulatory challenges

Bittrex, one of the oldest cryptocurrency exchanges in the United States, stated on Mar. 31 that it would be shutting down its operations owing to the “regulatory and economic climate” in the nation. While winding down operations in the United States, the official statement claims that customers’ money will continue to be safe and accessible for withdrawal at any time. Due to continued regulatory uncertainty, we have made the difficult decision to wind down our U.S. operations, effective April 30, 2023. All funds are safe and can be fully withdrawn…

Terra co-founder Daniel Shin’s arrest denied by court, citing low flight risk

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A local court in South Korea denied the prosecutor’s request to issue an arrest warrant for Terraform Labs co-founder Shin Hyun-Seong, also known as Daniel Shin. This was the second attempt made by South Korean authorities to reign in Shin following the recent arrest of Do Kwon — Terra’s other co-founder. On March 23, Kwon was arrested at Podgorica airport in Montenegro while attempting to use fake documents to fly abroad. The Seoul Southern District Prosecutors Office took advantage of this situation and, on March 27, requested an arrest warrant for…

‘AI Tools Will Provide Very Interesting Enhancements for the Metaverse’ — Upland Co-Founder – Interview Bitcoin News

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According to Dirk Lueth, co-founder of the Upland Metaverse, the colonization of the metaverse by tech giants and the building of so-called “walled garden systems” is not sustainable. Lueth argues that instead of “locking users in,” the metaverse should usher in “a future where they are free to move between platforms and can easily take their assets and identity with them.” ‘Walled Garden Systems’ Not Sustainable While interest in the metaverse has seemingly dissipated as evidenced by Meta’s decision to focus on artificial intelligence (AI), Dirk Lueth argues that AI…

OKX using AI to monitor market volatility

OKX has implemented an advanced artificial intelligence (AI) system to actively monitor and manage market volatility. OKX, a prominent cryptocurrency exchange, has introduced an innovative artificial intelligence (AI) system from EndoTech.io to monitor and manage market volatility. The technology aims to enhance the user experience by mitigating the effects of extreme price fluctuations, a common challenge in the crypto trading sphere. The AI system’s deployment is part of OKX’s ongoing commitment to offering cutting-edge services to its users. It works by analyzing market data in real-time, detecting irregular trading patterns,…

South Korean Court Denies Arrest Warrant for Terraform Co-Founder Daniel Shin – Bitcoin News

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A court in South Korea has again denied the arrest warrant for Daniel Shin, a co-founder of Terraform Labs who is being investigated for fraud. Shin has been accused of illegally profiting from the sale of over $100 million worth of the luna cryptocurrency before it collapsed. Seoul Court Leaves Terraform Co-Founder at Large Citing Low Flight Risk The Seoul Southern District Court has rejected a request by the Prosecutor’s Office for the pre-trial detention of Shin Hyun-seung, a co-founder of the failed blockchain firm Terraform Labs also known as…

Justin Sun announces end of ambassadorial role for Grenada

Tron founder Justin Sun just announced on Twitter the conclusion of his ambassadorial term for Grenada on March 31.  Justin Sun resigned from Tron to fill the Grenada ambassador position to the World Trade Organization (WTO). Recent reports indicate that Justin Sun may no longer work as Grenada’s ambassador.  Sun no longer Grenada’s ambassador Sun tweeted that his tenure as the aforementioned ambassador ends on March 31. He announced his future professional ambitions declaring his intention to rejoin the crypto space. However, Sun will first delegate his ambassadorial responsibilities to…

El Salvador removes all taxes related to tech innovation for economic growth

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El Salvador, the first country to establish Bitcoin (BTC) as a legal tender, made another historic decision to eliminate all taxes on technology innovations. The move runs parallel to the establishment of the National Bitcoin Office (ONBTC) of El Salvador, a.k.a. the Bitcoin office. When legalizing Bitcoin on Sept. 7, 2021, El Salvador President Nayib Bukele saw the technology as a means to counter the hyperinflation and dependence on the US dollar. Over the past 18 months, El Salvador restrategized Bitcoin investments and utilized capital gains in numerous instances to…

Elon Musk requests dismissal of $258B Dogecoin lawsuit: Report

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Elon Musk and his lawyers reportedly requested a United States judge to dismiss the $258 billion lawsuit filed by investors who alleged that he operated a pyramid scheme to promote the cryptocurrency Dogecoin (DOGE). According to an April 1 Reuters report, Elon Musk’s lawyers referred to the lawsuit filed by Dogecoin investors, a “fanciful work of fiction,” in Manhattan’s federal court on March 31. It was reported that Musk’s lawyers referred to his Dogecoin statements as “innocuous and often silly tweets,” in an effort to convince the judge to “throw…

Disney Reportedly Axing Metaverse Division Amidst Company Restructuring – Metaverse Bitcoin News

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The metaverse division of Disney has apparently fallen victim to the latest round of layoffs announced by the company. Per reports from the Wall Street Journal citing people “familiar with the situation,” the whole next-generation storytelling and consumer-experience unit, comprised of 50 people, has been axed — this being part of the 7,000 layoffs the company is executing as a cost-cutting measure. Disney’s Metaverse Division Is No More, According to Reports Disney, the well-known entertainment behemoth, seems to have lost interest in the metaverse. According to reports coming from the…