Day: January 19, 2024

South Korea mulls over crypto tax abolition amid financial investment tax repeal

South Korea is currently deliberating on whether to include gains from cryptocurrency assets in the upcoming abolition of income tax on financial investments. In a policy briefing earlier this week, Jeong Jung-hoon, the deputy minister of South Korea’s Ministry of Economy and Finance’s tax and customs office, suggested that the National Assembly, the country’s legislative body, should consider including gains from crypto assets in the proposed removal of income tax on financial investments. Jeong’s remarks were in response to public inquiries about whether cryptocurrency taxation should be abolished along with…

Aave community mulls new proposal to increase liquidity for GHO stablecoin

Aave Labs has published a new governance proposal for integrating the GHO stablecoin across multiple blockchain networks. In a forum post on Jan. 17, Aave Labs, a firm behind the Aave protocol, revealed a new governance proposal to integrate the GHO stablecoin across multiple blockchains. The initiative, as outlined by Aave Labs, is geared towards “enhancing GHO liquidity, accessibility, and interoperability while maintaining security and stability.” Example of CCIP implementation | Source: Aave Aave Labs particularly proposes utilizing Chainlink‘s Cross-Chain Interoperability Protocol (CCIP), a solution for both communication and interaction…

Ukraine’s anti-corruption head candidate appears to be altcoin bagholder

A candidate for the head of Ukraine’s anti-corruption agency appears to be DOGE and LUNC holder, according to an official declaration. Kateryna Kapliuk, a former journalist at Ukrainska Pravda and current candidate for the head of Ukraine’s National Agency on Corruption Prevention (NACP), disclosed in her declaration she had acquired over 30 altcoins during her tenure at the agency. According to the document, Kapliuk, who joined NACP in 2020 as an advisor to NAPC Chairman Alexander Novikov, was buying multiple cryptocurrencies until mid-2022, with a total sum of 127,165 UAH…

SOL Price Reaches Make-or-Break Levels – Can Solana Pump Again?

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Solana is moving lower from the $120 resistance. SOL price is showing a few bearish signs and might decline sharply toward the $80 support. SOL price started a fresh decline from the $120 resistance against the US Dollar. The price is now trading below $102 and the 100 simple moving average (4 hours). There is a key contracting triangle forming with resistance near $102 on the 4-hour chart of the SOL/USD pair (data source from Kraken). The pair could continue to move down toward the $85 support or even $80.…

Tokenization in 2024 – Exchanges Need To Build Trust

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HodlX Guest Post  Submit Your Post   In 2023, the market for tokenized business assets grew by between 16% and 23% in CAGR (compound annual growth rate). Still, even the most optimistic valuations agree that tokenized assets currently account for less than 11% of crypto’s total valuation. While some dub tokenization a failed technology, the macro trends for its adoption are finally gaining steam. According to DeFi Llama and Fed’s research, the fraction of real-world assets in DeFi more than doubled over the last year. The European Investment Bank now issues…

Ethereum Price Dips Alongside Bitcoin, Decoding Key Hurdles To Fresh Increase

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Ethereum price struggled to rise above $2,550 and $2,580. ETH started a fresh decline like Bitcoin and traded below the $2,500 support zone. Ethereum attempted a fresh increase but failed to surpass $2,550. The price is trading below $2,500 and the 100-hourly Simple Moving Average. There is a connecting bearish trend line forming with resistance near $2,480 on the hourly chart of ETH/USD (data feed via Kraken). The pair continue to move down if there is a move below the $2,425 support. Ethereum Price Extends Decline Ethereum price struggled to…

Bitcoin Price Takes Hit, Can Bulls Protect The Main Support at $40K?

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Bitcoin price extended its decline below the $41,450 support zone. BTC is showing bearish signs and might struggle to stay above the $40,000 support zone. Bitcoin price is gaining bearish momentum below the $42,500 zone. The price is trading below $42,000 and the 100 hourly Simple moving average. There is a key bearish trend line forming with resistance near $42,100 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is now at risk of more downsides toward the $40,000 support zone. Bitcoin Price Gains Bearish…

Down Big: Crypto Scamming Numbers Reduced In 2023

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2023 started with a challenging overall landscape for the crypto market that continued throughout the rest of the year. However, the market saw a recovery with a spike in bullish sentiment and ended the year on a positive note. Additionally, 2023 saw a decline in crypto scamming and crypto-related illicit activity compared to the previous year, as new data shows. Illicit Activity Market Revenue Decline In 2023 American blockchain analysis firm Chainalysis released its 2024 Crypto Crime Report detailing the trends and figures that crypto-related illicit activities saw in 2023.…