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Cryptocurrency And Taxes: Here’s What You Need To Know
Different countries have different approaches when it comes to cryptocurrency and taxation. In several countries, cryptocurrency is not regulated and cannot be taxed. Due to their seemingly abstract nature, countries like Turkey, Bolivia, and Nigeria banned cryptocurrencies outrightly, making it illegal for financial institutions to facilitate crypto trades.
However, countries like the US are very open to cryptocurrency and have found a way to regulate the industry and generate revenue from its transactions. For a start, every cryptocurrency exchange operating in the US is bound by the Bank Secrecy Act (BSA). Through this regulation, it’s possible for the Internal Revenue Service (IRS) to monitor crypto transactions and collect taxes from you whether you are a crypto investor or just a holder. Read More
Safex Market V1 Reaches A Global Userbase On Decentralized Ecommerce
July 22, 2021, Miami, Florida - The World Marketplace, Inc. (TWM) announces a pre-seed funding round following the launch of a hugely successful decentralized marketplace application using the Safex Blockchain and the Safex Cash cryptocurrency. Read More
PolkaFoundry DApps To Get Bluzelle NFT Storage And Oracle Solution Boost
PolkaFoundry has announced that it has partnered with Bluzelle, a Web 3.0 storage network. The partnership highlights PolkaFoundry’s commitment to bringing highly reliable, high-quality, and real-time database services to decentralized applications. Read More
Ethereum must innovate beyond just DApps for DeFi degens: Vitalik Buterin
As second layer scaling matures for Ethereum, Vitalik Buterin urges the community to grow beyond the confines of DeFi.
During his keynote at the EthCC conference in Paris, Ethereum co-founder and lead developer Vitalik Buterin implored the Ethereum community to innovate beyond the confines of decentralized finance.
Describing non-financial utilities as “the most interesting part of the vision of general-purpose blockchains,” Buterin lamented that financial applications currently “dominate the Ethereum space.”
“Being defined by DeFi is better than being defined by nothing. But it needs to go further.” Read More
El Salvador Bitcoin Law Has Citizens Protesting
The quick adoption of an El Salvador law declaring Bitcoin as legal tender has been poorly received by the country's citizens.
Despite a three-month ban on protests to ostensibly prevent the spread of COVID, a group of Salvadorans composed of leftist unions, student associations, and others gathered at the Legislative Assembly yesterday to protest the country's adoption of Bitcoin as its national currency.
The group, organized by the "Block of Resistance and Popular Rebellion," used banners and slogans to demand that the so-called Bitcoin Law, which makes BTC legal tender and obligates businesses to accept it, be revoked.
But the protestors, like an estimated 77% of Salvadorans, think it's a bad idea. Read More
Ethereum Upgrade for Reducing ETH Supply Gets Commemorative NFTs
The proceeds from the sale will go toward those who worked on EIP-1559.
If you're hardcore into Ethereum network upgrades, we've got just the thing for you.
Stateful Works, a project and publication to incentivize the creation and maintenance of public goods on the Ethereum blockchain, has unveiled commemorative non-fungible tokens (NFTs) of a forthcoming, highly anticipated network upgrade. NFTs are digital tokens that confer ownership of an asset, in this case moving images. Read More
Tether to Release Long-Awaited Audits Within Months, Says General Counsel
Those working behind the biggest stablecoin say an audit is coming.
Tether executives today spoke to the media about the controversial stablecoin.
They said Tether will release long-awaited audits within months.
Tether has previously been reluctant to hand data over to regulators. Read More
Markethive Taking Faucets To Another Level [HIVE]
Markethive Airdrops
Markethive is determined to take a large share of the new Market Network next-generation following the Social Network phenomena. That Market Network is defined as a platform that is integrated with a social network (like Facebook), SAAS tools (like GoToMeeting, ZOOM, and Google Apps) commerce platforms (like eBay, Freelancers, Coinbase, Alibaba).
Markethive has created its consumer coin, Hivecoin (HIVE), originally named MHV, as an instrument to their Ecosystem for Entrepreneurs. So Markethive will establish its niche as the only social (Market) Network with an infinity Airdrop and a system that rewards the users for using it with additional micropayments, otherwise known as a Faucet.
Bottom line, by joining Markethive, you will get a Market Network Inbound Marketing platform worth $2500 per month for free and get “Airdropped” paid up to 500 Markethive coins [HIVE] just for joining. And continue to receive these coin assets for the duration of your life within the hive. Read More
Viking Silver Found on the Isle of Man Represents 1,000-Year-Old Analog Version of Bitcoin
Off the coast of the Irish Sea, humans have lived on the Isle of Man since before 6500 B.C. The island has a robust history of Viking Age treasures. According to a recent announcement from Manx National Heritage, a heritage agency located there, an amateur treasure hunter recently discovered a hoard of Viking silver on the island. U.S.-based researcher and numismatist, Dr. Kristin Bornholdt-Collins, said the unearthed Viking silver hoard was similar to today’s cryptocurrency and embodied a 1,000-year-old comparison to Satoshi Nakamoto’s Bitcoin. Read More
Airdrop Incoming: XRP Holders To Get Free Tokens for Flare’s New ‘Canary’ Network
Flare Network says it’s giving XRP holders an additional airdrop – and this one is around the corner.
Hugo Philion, co-founder and chief executive of Flare, says the company plans to release a network called Songbird in the next six weeks. Read More
Elon Musk: I Personally Own Bitcoin, Ethereum, and Dogecoin
Amid the B Word Event, the Tesla CEO revealed that he has BTC, ETH, and DOGE, while his aerospace company SpaceX owns Bitcoin.
Elon Musk has shared more information about his personal crypto portfolio and that of his aerospace company – SpaceX – during a discussion with Twitter’s Jack Dorsey at the ongoing B Word online event. Read More
Coinbase Commerce Accepts Dogecoin as Payment Method
Coinbase, as one of the top US cryptocurrency exchanges, has always shown a friendly attitude towards Dogecoin. As early as June 2 of this year, Coinbase announced that Dogecoin would be available for trading on Coinbase Pro accounts.
Coinbase Commerce is an enterprise blockchain service platform under Coinbase dedicated to facilitating cryptocurrency transactions between customers and merchants. Read More
Digital-only cryptocurrency artwork predicted to sell for £200,000+
A digital artwork that only exists as a high-resolution file is expected to surpass its reservation price of £120,000 when its auction by Thomas Crown Art is completed.
‘The Crypto Train’ by British artist Adrian Chesterman is said to showcase the parallel between traditional money and cryptocurrencies like Bitcoin.
NFTs are digital collectibles that are encoded onto a blockchain – the same technology on which cryptocurrencies run – creating a unique digital watermark showing ownership and the digital rights to that collectible. Read More
SEC Chairman: Crypto Stock Tokens Need to Follow Securities Laws
SEC Chair states that stock tokens should fall under securities laws.
Gensler spoke of the role that cryptocurrencies might have with the securities market.
He said that stock tokens must be registered under the Securities Act of 1933 if they are security-based swaps. Read More
Crypto Mining Firm Core Scientific to Go Public Via SPAC Merger
One of America’s largest cryptocurrency miners, Core Scientific, is gearing up to go public through a merger with a special purpose acquisition company (SPAC). According to an announcement made on Wednesday, the company will merge with Power & Digital Infrastructure Acquisition Corp. upon receiving shareholders’ approval for a deal valued at $4.3 billion. Read More
Polkadot: What it is and what you need to know about the next-gen crypto
Polkadot is a next-generation blockchain platform connecting multiple specialized blockchains into one unified network.
It was created by Gavin Wood, one of the co-founders of Ethereum.
Polkadot aims to achieve scalability by making it possible for specialized blockchains called ‘parachains’ to interoperate.
Designed as part of a broad vision for a web that returns control to individuals over internet monopolies, Polkadot aims to build on the ideals of earlier blockchain networks but promises to offer several fundamental advantages. Read More
Disclaimer: These articles are provided for informational purposes only. They are not offered or intended to be used as legal, tax, investment, financial, or other advice.
