Day: May 5, 2023

Voyager creditors could start seeing funds in the ‘next few weeks’

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Funds stuck on the platform of bankrupt crypto broker Voyager Digital may begin returning to creditors in “the next few weeks,” according to a committee of Voyager creditors. A May 4 tweet from the Voyager Official Committee of Unsecured Creditors (UCC) said the now-defunct crypto firm is in the final stages of bankruptcy liquidation procedures. The UCC is “hopeful” that “initial distributions will begin within the next few weeks.” 4/ Voyager is also finalizing everything internally that is necessary to make distributions to creditors. We are hopeful that initial distributions…

Coinbase share price spikes 7.9% as Q1 results beat expectations

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Crypto exchange Coinbase managed to significantly narrow its net loss in the first quarter of 2023, due in part to robust earnings from retail investor trading activity. The company’s net loss fell from $557 million in Q4 2022 to $79 million in Q1, partly attributed to a 22% increase in revenue to $736 million. The results beat expectations from some analysts, leading to a 7% spike in Coinbase’s (COIN) share price in after hours trading. Coinbase’s (COIN) share price. Source: Google Finance. Transaction revenue — derived from fees its charges for…

3% Tax on BTC and Other Crypto Transfers Part of Kenya’s Proposed Budget: Bloomberg

“Digital asset” includes anything of value that is not tangible and cryptocurrencies, token codes, and numbers held in digital form and generated through cryptographic means or otherwise, by whatever name called, providing a digital representation of value exchanged with or without consideration that can be transferred, stored or exchanged electronically; and a non-fungible token or any other token of similar nature, by whatever name called; and the income derived from transfer or exchange of a digital asset” means the gross fair market value consideration received or receivable at the point…

El Salvador Eliminates All Taxes on Technology Innovations, AI, App Programming – Taxes Bitcoin News

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El Salvador’s president, Nayib Bukele, has enacted a law that eliminates all taxes on technology innovations, software and app programming, AI, computer, and communications hardware manufacturing. The law is expected to boost the country’s technology sector, generate more jobs for its population, and attract foreign investment. Bukele Signs Law to Boost Technology Industry in El Salvador The president of El Salvador, Nayib Bukele, announced Thursday on Twitter: I’ve just signed into law the Innovation and Technology Manufacturing Incentives Act that eliminates all taxes (income, property, capital gains, and import tariffs)…