LayerZero Raises $135M to Tackle Interoperability in Crypto
Kyrgyzstan MP Recommends Legalizing Cryptocurrency
admin2022-03-30T06:58:57+00:00Kyrgyzstan’s member of parliament Karim Khanjeza on Wednesday has recommended the Kyrgyzstan government to introduce its own cryptocurrency and legalize it for the people. He believes the booming cryptocurrency market will offer technological advancement opportunities in the country and recommends creating a crypto hub in Kyrgyzstan. The country has seen rapid adoption of cryptocurrencies and crypto mining in recent years.
Kyrgyzstan MP Suggests National Bank To Create Its Own Crypto
During a meeting of the Kyrgyzstan parliamentary committee on law and...
Huobi Plans To Launch Crypto ETF In Hong Kong- Report
admin2022-03-29T07:52:04+00:00Hong Kong-listed fund manager Huobi Technology is planning to launch an exchange traded fund (ETF) that tracks popular cryptocurrencies. The firm, which is a subsidiary of popular crypto exchange Huobi Global, intends to target retail investors with the planned ETF. Huobi has written to Hong Kong’s Securities and Futures Commission (SFC), and intends to structure the ETF such that is is accessible to retail investors whose total assets are less than HK$8 million (USD1 million). The move would be the first...
European Parliament May Vote to Ban Anonymity in Crypto
admin2022-03-26T01:03:03+00:00
Key Takeaways
Some members of the European Parliament may vote to ban anonymous crypto transfers next week. The new rules would also forbid crypto transactions to various jurisdictions. The news came at the end of a week filled with developments in crypto regulation around the world.Share this article
European Parliament members are reportedly planning a vote next week that, if successful, could bar anonymity in crypto payments, including crypto transactions to unhosted wallets. The reports also suggest EU crypto users...
India Imposes 30% Crypto Tax, But Politicians Are Fighting Back
admin2022-03-25T14:14:41+00:00
Key Takeaways
A new finance bill has passed a vote in the upper house of the Indian Parliament. The bill enforces a 30% tax on crypto trading profits and a 1% tax of all crypto transactions. Several members of the Indian Parliament have spoken out against the bill, explaining how the 1% tax on on transactions would hurt the crypto industry in the country.Share this article
The Indian government has passed new tax laws on cryptocurrencies, dictating a flat 30% tax on...
Exxon Is Using Excess Natural Gas to Mine Bitcoin
admin2022-03-24T23:33:45+00:00
Key Takeaways
Exxon is piloting a Bitcoin mining program that utilizes previously wasted resources. The program is apparently utilizing 18 million cubic feet of natural gas each month that would have gone to waste. The energy giant might be looking to expand the program internationally.Share this article
ExxonMobil Corp., the largest producer of oil in the United States, is testing a program whereby excess natural gas from North Dakota’s oil wells would instead be used for mining Proof-of-Work cryptocurrencies. The...
Honduras Will Not Adopt Bitcoin as Legal Tender
admin2022-03-24T21:52:12+00:00
Key Takeaways
Honduras’ Central Bank has stated that there is no plan to adopt Bitcoin or any other cryptocurrency as legal tender within the nation. Instead, it expressed greater interest in a central bank digital currency. Rumors had circulated that Honduras might follow in El Salvador's footsteps, but these appear to have been unfounded.Share this article
Rumors that Honduras would soon adopt Bitcoin as legal tender have been laid to rest by the nation’s central bank.Central Bank’s Remarks
As it happens, Honduras will...
Bank of England Calls for More Regulation as U.K. Crypto Firms Express Frustration With Current Rules
admin2022-03-24T16:12:12+00:00
Key Takeaways
The Bank of England’s Financial Policy Committee has called for additional regulations on the cryptocurrency industry. Meanwhile, many U.K. crypto firms are struggling to comply with existing regulations. Crypto businesses are required to register with the Financial Conduct Authority by Mar. 31, but some have complained of the government being too slow to process the applications.Share this article
Several U.K. crypto firms are struggling to register with the Financial Conduct Authority ahead of its Mar. 31 deadline. At the...
DeSantis: Florida May Soon Accept Crypto for State Business Taxes
admin2022-03-23T22:34:28+00:00
Key Takeaways
Florida's governor, Ron DeSantis, has stated that his state is working toward accepting cryptocurrencies for business taxes. Governor DeSantis also expressed concerns over CBDCs and President Biden's recent executive order on digital assets. The revelation is the latest in a series of crypto-forward initiatives from around the State of Florida.Share this article
The governor of Florida, Ron DeSantis, has said that steps were being taken so that his state could accept Bitcoin and other cryptocurrencies for business tax payments.Florida to...
Elon Musk Under Investigation Over Tweets: U.S. SEC
admin2022-03-23T09:38:41+00:00The U.S. Securities and Exchange Commission (SEC) said it was investigating Tesla CEO Elon Musk over the tweets where proposed to sell 10% of his Tesla stake. The regulator also said it has the legal authority to take Musk to court over his past tweets. The investigation came to light on Tuesday after the SEC rejected a motion from Musk seeking the dismissal of a 2018 agreement that required certain tweets to be pre-approved by an attorney.