Thailand has decided to suspend the implementation of its 15% cryptocurrency capital gains tax for now. The proposal, which was presented earlier this year, triggered a lot of opposition, but it appears that some sort of crypto tax will still be implemented. Thailand will reportedly not proceed with its 15% cryptocurrency tax plan after traders…
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A chunk of the inactive Bitcoins (BTC) stolen in the 2016 Bitfinex exchange hack has moved from the hacker’s wallets to an unknown wallet on Tuesday, as detected by blockchain analytics bot Whale Alerts. 20 transactions involving the stolen Bitcoins were flagged. A sum of 64,641.29 BTC, worth almost $2.5 billion at the time of…
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Bitcoin (BTC) is retaking market share from altcoins after its market cap dominance hit its highest since November 2021 last week. Data from CoinMarketCap and TradingView reveals BTC briefly accounted for over 42% of the overall crypto market cap in late January. Bitcoin claws back market cap presence Having suffered on the way down from…
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Fidelity, the multinational brokerage giant, released a paper on Bitcoin (BTC) titled Bitcoin First. The financial services provider calls for BTC to be treated separately from the rest of the digital assets. The paper argued that BTC is fundamentally different from the hundreds of other digital assets trading in the market and no other digital…
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In a speech discussing the budget for 2022, Indian finance minister Nirmala Sitharaman announced the launch of a central bank digital currency (CBDC) by 2022-23 as means to boost the country’s economic growth. Sitharaman highlighted the need for digital inclusion across numerous business verticals while announcing the fund allocation set in the Union Budget. Speaking…
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Binance, the world’s leading crypto exchange by trading volume, announced its Secure Asset Fund for Users (SAFU) reached a $1 billion valuation. The user protection insurance fund was set up in July 2018 to protect users’ interests. Binance committed a portion of the trading fee towards SAFU and began allocating 10% towards the funds. The…
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New research has found that the annual transaction volume on the Bitcoin network surpassed that of some well-known card networks, such as American Express (AmEx) and Discover, during 2021. The NYDIG Research Weekly’s Jan. 29 report stated that Bitcoin processed $3 trillion worth of payments during 2021, placing it above popular credit card networks American…
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Tusk Ventures CEO and founder Bradley Tusk says that the failure to regulate cryptocurrency and social media effectively in the United States is a “really good lesson for how we should handle the Metaverse.” In a Feb. 1 interview on CNBC’s “Closing Bell,” Tusk urged U.S. policymakers to “get ahead” of the Metaverse and implement…
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Cryptocurrencies had a volatile week after Bitcoin’s (BTC) sudden crash to $33,000 on Jan. 24. However, the sharp 9% drop fully recovered within 8 hours after BTC price regained the $36,000 support. On Jan. 26, Bitcoin rallied to $38,960 but it could not sustain the level and corrected by 8.8% in the following 8 hours.…
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One of the most fascinating implications of the collision between traditional political institutions and the crypto space is how it can reveal the glaring lack of cohesion within power systems that otherwise look monolithic. Digital assets reside in a parallel policy dimension where neither a centralized consensus nor a clear rulebook exists, leading to a…
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