The IRS Should Heed This Warning Further, serious consideration should be given to excluding digital assets outside of the investment context. . For example, as the IRS itself recognizes, many non-fungible tokens (NFTs) si CryptoX Portal
The Chinese government released a statement on Nov. 10 declaring that anyone stealing digital collections, such as nonfungible tokens (NFTs), will be subject to theft sentences. It outlines three views on the type of crime that theft of digital collections falls under, the first two classifying it as either data or digital property. However, the statement stresses that the third view, which sees digital collections as both data and virtual property, would fall under the umbrella of “co-offending.” The statement explained that stealing a digital collection includes intrusion into the…
The Federal Government of Nigeria, through the Ministry of Communications, Innovation and Digital Economy, has entered into a partnership with a UK-based computing education charity, Raspberry Pi Foundation, to launch Code Clubs across Nigeria. The initiative is crafted for students aged 7 to 17, and the Code Clubs represent a series of extracurricular artificial intelligence (AI) programming clubs aimed at fostering digitally literate and innovative young minds in Nigeria. Announcing the program in a statement issued on Wednesday, Nov. 8, the ministry said the Code Clubs will introduce participants to…
Deutsche Börse intends to further use cloud computing to accelerate the development of its digital post-trading platform D7 and a crypto trading platform to ensure sustainable future growth prospects. The Web3 market and blockchain technology have triggered a fast shift in the global financial system from the traditional stock market to digital assets and tokenization in the past few years. The shift has been accelerated by the ongoing crypto regulatory changes around the world led by European countries. In Germany, the country’s legislators have passed several crypto regulations to ensure…
The frontman of the popular virtual universe game Roblox, David Baszucki, has said he ‘dreams’ of having the ability to move nonfungible tokens (NFTs) and digital objects across multiple platforms. Following the company’s Q3 2023 earnings call, Roblox founder and CEO Baszucki spoke about the role major influencers play in fueling the widespread adoption of NFTs and digital collectibles in a recent CNBC interview. He believed in the idea of users being able to move their collections across non-native platforms: “There’s a bit of a dream here about objects and NFTs…
Senator Rick Scott introduced a prohibition act seeking to bar U.S. financial service operators from interacting with China’s central bank digital currency (CBDC). The so-called Chinese CBDC Prohibition Act would ban U.S. post offices, remittance firms, peer-to-peer crowdfunding platforming and all money services businesses from facilitating any transaction that involves China’s digital yuan. Senators Marsha Blackburn of Tennessee and Ted Cruz of Texas backed the act with their support, stressing that this legislation was crucial to keeping American financial data safe. We should do everything in our power to ensure…
Bitcoin miner Marathon Digital Holdings has reported a substantial increase in revenue, marking a 670% rise year-on-year in the third quarter of 2023. This remarkable growth is attributed to a significant uptick in Bitcoin (BTC) production, which increased from 6.7 mined BTC per day in Q3 2022 to an impressive 37.9 BTC per day in Q3 2023. Marathon’s Q3 Earnings Release is here:– Revenue of $97.8M, due to 467% increase in #Bitcoin production and higher BTC prices.– Adjusted EBITDA improves to $43.7M.– 8% increase in hash rate; expanding with hydro-powered…
“Digital markets can present competition concerns,” the statement said. “Markets characterized by network effects, economies of scale, digital ecosystems, and accumulations of large amounts of data can be prone to increasing or creating barriers to entry, tipping, and dominance.” Source
“We consider our partnership with the CBI as a testament to our unwavering dedication to building a safe and regulated digital asset ecosystem in India,” said Manan Vora, Senior Vice President of Strategy and Business Operations at Liminal. “As experts in the field, we feel it’s our responsibility to assist law enforcement agencies with rigorous security protocols.” Source
Bitcoin mining firm Marathon Digital Holdings saw its revenue surge $670% year-on-year in the third quarter of 2023, amid a nearly five-fold increase in Bitcoin production. The results saw Marathon also swing to a quarterly profit, with $64.1 million of net income in the third quarter, according to the firm’s Nov. 8 results filing. The firm partly attributed the improved financial results to a 467% spike in Bitcoin (BTC) production from 6.7 mined BTC per day in Q3 2022 to 37.9 BTC per day in Q3 2023. Similarly, Marathon’s energized…