Rio De Janeiro Introduces Idea To Allow Individuals To Pay For Their Property Taxes Through Crypto

Cryptocurrencies, for as long as their inception, have felt nothing like the decentralized finance solution that people were waiting for. Instead, it turned out to be a glorified investment. Similar to most other types of assets that people can invest in, cryptocurrencies have long been just an investment. But as the crypto market starts to…

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Turkey Has Also Entered Marathon Of Becoming A Pro Blockchain Country

The people of Turkey who have been part of the cryptocurrency industry are now aiming to take things to the next level. The country is aiming to take its cryptocurrency ecosystem to the next level. Turkey Aims to Buy the Dip Just when the entire cryptocurrency industry is afraid of buying more into cryptocurrencies due…

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China, Thailand, Hong Kong And UAE Trial Cross-Border Transactions With Digital Currencies

State-issued digital currencies were used to conduct cross-border settlements by the monetary authorities of four Asian jurisdictions in a test. The Bank for International Settlements (BIS) also participated in the pilot project, which saw transactions of about $22 million conducted, which involved foreign exchange and cross-border payments. The trial The monetary regulators of the United…

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Nubank’s Customers Increase To 70 Million In Latam With 2 Million Purchasing Crypto

A digital bank based in Brazil, Nubank recently announced that it had achieved a new milestone. According to the institutions, it now has about 70 million customers in the Latin American region. This makes it one of the biggest financial digital bank to exist in Brazil. Moreover, it also disclosed that about 2 million of…

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South Korea Seizes $184 Million In Crypto From Tax Dodgers

Local media reported that the South Korean government has seized crypto assets valued at approximately $184 million in tax arrears in the last two years. The authorities in Seoul had first begun their confiscation of digital assets from those accused of evading taxes back in 2021. Tax evasion Reports on Thursday revealed that South Koreans…

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Internal Revenue Service Is Authorized To Track Down Americans Involved In Crypto Tax Evasion

The US district judge has recently authorized the Internal Revenue Service (IRS) to make its move against a certain group of cryptocurrency investors. The particular group in question are the tax evaders who generate their revenues from cryptocurrencies. The Reason behind the Decision A significant rise has been witnessed in the adoption of cryptocurrencies in…

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Russian Prime Minister Orders Central Bank And Finance Ministry To Agree On Crypto

The head of the Russian government instructed the finance ministry and central bank in Moscow to come to an agreement on how to develop the digital asset market in Russia by December 1st. They should also work with other regulators in order to develop common legislation that can be used for regulating the digital asset…

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Abu Dhabi’s Regulator Unveils Virtual Asset Regulation

The Financial Services Regulatory Authority (FSRA) is the financial regulator for the Abu Dhabi Global Market. It recently disclosed six principles that will be used for developing regulations for virtual assets and their supervision. While the FSRA said that these principles would not be legally binding, they should be regarded as a complement to the…

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Gary Gensler Instructs SEC Staff To Fine-Tune Crypto Compliance

The chairman of the US Securities and Exchange Commission (SEC) has instructed his staff to begin fine-tuning compliance for crypto intermediaries and tokens. According to the SEC chair, most of the crypto tokens that are in circulation are categorized as securities. Crypto tokens are securities Last Thursday, there was an SEC Speaks conference at the…

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Tax Authority In Argentina Strengthens Supervision

Last week, the tax authority in Argentina (AFIP) discovered three different clandestine crypto mining operations, which were located in the city of Cordoba and San Juan. Just one of these mining farms had mining equipment worth $600,000 and the institution was able to track them due to the high electricity consumption. Illegal crypto mining The…

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Iranian Government Gives Approval For Crypto Regulation

A set of crypto regulations has been finalized by the government of Iran. A government official said that the administration had ratified a ‘comprehensive and detailed’ law. It is aimed at providing a regulatory framework for crypto, which includes their mining and authorized usage. Crypto regulations in Iran The Industry, Mines, and Trade Minister of…

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Here’s How Holders Are Propelling Monero (XMR) to 6-Month Highs

The privacy token Monero was among the top performers in the crypto space over the previous 24 hours, recorded massive uptrends. Liquidity squeeze triggered by some XMR traders attributed to the recent gains by the alt. XRM gained around 10% within the last day to explore $267.65, the highest mark since October. Also, the token’s…

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Crypto Markets Update – February 10, 2022

The cryptocurrency market continued with upward movements. The world’s oldest digital coin, Bitcoin, gained more than 3% over the past day, trading around $44,811.17. Let us check the day’s losers and gainers. The global crypto market capitalized gained 1.15% within the past 24 hours towards $2.02 trillion. Meanwhile, trading volume dropped by 24.77% to $77.78…

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Crypto Weekly Outlook – Market in Green; NEAR Joins Top 20 Crypto-List

Most top alt, including DOGE, MATIC, LUNA, and DOT, gained more than 15% over the week. Meanwhile, Near Protocol saw its native coin NEAR surging over 35% as the Layer1 network witnessed intensified competition. Bitcoin noted a tide shift this week, rising past the psychological level of $42,000. That comes after the leading crypto lost…

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Binance Has Been Licensed In Canada, According To CZ

Binance CEO, Changpeng Zhao, took to Twitter to reveal that the company that they registered with Canadian authorities had been approved. The company named Binance Canada Capital Markets has been licensed to operate a list of financial services. The license gives the company rights to operate for the next 3 years. Binance is expanding its…

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Cornell University Professor Believes Bitcoin Will Not Be Around For Long

Eswar Prasad, a professor and author at Cornell, has disclosed that the primary cryptocurrency, Bitcoin, may not endure for long. The academic who authored a book on the digital asset revolution disclosed this in an interview with CNBC. Ever since it hit its current ATH in October, Bitcoin has been going through a bearish spell…

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United Kingdom Politicians Do Not Consider Crypto An Investment

The UK’s MPs (Members of Parliament) have requested the FCA (Financial Conduct Authority) to restrict the utilization of the terms “investment” and “invest” by crypto companies for promotional objectives. As per a report published on 9th December by The Times, it was informed by the treasury select committee’s MPs to Nikhil Rathi (the chief of…

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FBI Seizes $2.3M Worth Of Crypto Linked With A Ransomware Gang

The Federal Bureau of Investigation took up to $2M value in digital assets connected to ransomware outbreaks carried out by Aleksandr Sikerin (a Russian citizen). The respective criminal is well-known for having an attachment with REvil (a notorious gang involved in cybercrimes having assaulted numerous businesses across the United States during recent times. REvil comes…

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Binance Lends Assistance to Dubai in Developing ‘Crypto Zone’

World Trade Centre in Dubai is going to host crypto within by transforming itself into a “Crypto Zone” – a place exclusively for cryptocurrencies and crypto service providers. For commencing the project, Dubai has sought assistance from known crypto exchanges and the first exchange which has assured its services for the completion of the project…

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New Russian Law Describes Imprisonment for Unauthorized Crypto Miners

“None of the unauthorized or non-licensed or illegal crypto miners will be spared in Russia as the state authorities have been empowered under the new law to arrest them, prosecute them and send them to jails for serving imprisonment”, says a lawmaker from the Russian Federation. The lawmaker adds further that even those miners who…

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Leading IMF Economist Urges India And Developing Economies To Form Crypto Regulations 

A leading economist at the International Monetary Fund (IMF), Gita Gopinath, talking at a summit organized by a non-profit economic research institute in India, pushed developing countries to create homogeneous regulations for crypto rather than a ban on the technology. She, however, agreed that the matter of cryptocurrency regulation is a complicated topic. She noted…

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