Indonesia’s Crypto Watchdog Pushes for Friendlier Taxes as Regulatory Overhaul Looms

While Bappebti has not specified how it wants the Finance Ministry to revise the taxes, it is likely that it seeks the removal of VAT, to match how stocks are treated. The industry expects the shift in oversight to OJK – which oversees all financial services in Indonesia, including banking, capital markets, insurance and pensions – could mean crypto will be treated as securities in the country. Source

Uniswap (UNI) Jumps 60% on Proposal to Reward Token Holders in Major Governance Overhaul

Koen’s proposal is a significant development for the largest decentralized exchange by trading volume, marking a departure from last year’s initiative to reward token holders with accrued fees. Last June, the Uniswap community turned down a proposal that would have switched on fees for many of the exchange’s liquidity pools and distributed a part of the revenue among token holders. In an October move, the exchange started to charge a 0.15% fee on crypto swaps involving ETH, USDC and other tokens initiated on the protocol’s interface. Source

European Banking Authority proposes overhaul of AML, CFT rules for crypto providers

In a consultation paper released on Nov. 24, the European Banking Authority (EBA), an EU agency tasked with implementing a standard set of rules to regulate banking across all EU countries, highlights that existing regulations governing Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT) standards compliance for crypto providers are inadequate.  The EBA has since invited interested parties to provide comments until Feb. 26. The proposal, in effect As stated in the Executive Summary, the paper comes as bid to enhance measures for detecting missing or incomplete information on the payer or payee;…

Elon Musk calls for ‘comprehensive overhaul’ of US SEC, DOJ

Elon Musk has called for a “comprehensive overhaul” of the U.S. Securities and Exchange Commission (SEC) hours after the agency sued him for allegedly failing to testify in an investigation into his $44-billion acquisition of Twitter, now called X, last October. The SEC is examining whether Musk’s acquisition violated securities regulations. On Oct. 5, the regulator submitted a filing in a California District Court, aiming to force Musk to adhere to a previous SEC subpoena. In an X post the same day, Musk suggested the SEC — along with the…

XRP Ledger Developer Xumm Reveals “Infrastructure Overhaul,” More Than An Upgrade?

The company behind the XRP Ledger crypto wallet, Xumm, unveiled its plans to launch an “Infrastructure Overhaul” for the network. The company claims the upgrade will push the XRPL to the next level. According to an official announcement shared with Bitcoinist: This isn’t just a technical upgrade; it’s a strategic move to reshape the very foundation of the XRPL, ensuring a sustainable, efficient, and inclusive future for all participants. XRP Ledger Upgrade Goes Beyond? Implications For The Network Xumm believes the XRP Ledger has an “advanced” infrastructure, but they aim…

Tokenization Is the Way to Realize the Biden’s Electric Vehicle Overhaul

Blockchain addresses many of these challenges by providing a transparent and secure platform for tracking and verifying the origin, and production. Each transaction, from mining to manufacturing, can be recorded and verified by multiple parties, ensuring that the information is accurate and trustworthy. This transparency can help curb smuggling and dirty mining, making it more difficult for companies to embrace unethical sources. It also creates safety for consumers, as some electric vehicles have recently caught on fire due to quality control issues. Source

In crypto winter, DeFi needs an overhaul to mature and grow

For several months now, the decentralized finance (DeFi) sector has been on the receiving end of a major bear market, so much so that the total value locked within this space has slipped from its all-time high of $150 billion (achieved back in May 2022) to its current levels of just over $50 billion.  Despite this, the amount of capital flowing into this space from “centralized avenues” has grown, largely due to the collapse of FTX alongside other prominent entities like Celsius, Genesis, Vauld, etc. — even doubling trading volumes…

Maple Finance 2.0 overhaul aimed at speeding up the defaulting process

Maple Finance is a decentralized credit market powered by blockchain technology. Instead of requiring overcollaterlization of loans, it instead allows managers, called “Pool Delegates” to issue loans from its lending pools based on a set of risk-management criteria, according to the protocol’s documents. Introducing Maple 2.0. Maple 2.0 is a fundamental overhaul of the smart contract architecture. The new contracts are modular and robust and will facilitate Maple bringing capital markets on-chain. pic.twitter.com/5GGsMXaXhv — Maple (@maplefinance) December 14, 2022 However, in the wake of FTX’s collap, the platform experienced two…