The new government of Italy plans to impose a 26% tax on capital gains from crypto trading, according to the draft budget for next year. The center-right coalition in power is also preparing to oblige Italians to declare their digital assets and pay 14% on their holdings. Government in Italy Intends to Tap Into Cryptocurrency
Rumors have surfaced in recent days that a landmark day in the legal battle between Ripple Labs and the U.S. Securities and Exchange Commission could be coming up on Monday, December 5, or even tomorrow, December 2. At the center of the speculation are the Hinman documents. Ripple has succeeded in forcing the release of
sponsored The leading exchange expands the team globally as Messi leads Argentina to the round of 16. World Cup 2022 in Qatar is one of the most expensive World Cups in history, with an estimated cost of $US 220 Billion invested, more than 15 times spent. According to Bloomberg, crypto and blockchain companies have invested
Russian financier and cryptocurrency entrepreneur Vyacheslav Taran has been killed in a helicopter crash on French territory. The accident marks the latest in a series of deaths of crypto executives and adds another name to a list of Russian billionaires who died this year under mysterious circumstances. Libertex President Perishes as His Helicopter Crashes on
Bitcoin (BTC) attempted to flip $17,000 to support on Dec. 1 after sealing its lowest monthly close in two years. Bitcoin gains inch up as November end Data from Cointelegraph Markets Pro and TradingView showed BTC/USD circling $17,100 in a second intraday charge at higher levels. The pair managed to avoid losses as the monthly
Blockchain data analytics carried out by Nansen highlights the ever-growing amount of Ether (ETH) being staked across various staking solutions in the months following Ethereum’s shift to proof-of-stake (PoS) consensus. The highly anticipated Merge has been a boon for decentralized finance (DeFi) in general, and staking solutions have been in high demand since Ethereum’s shift
Cryptocurrency exchange Binance is working with accounting firm Mazars as part of its proof-of-reserve (PoR) audits triggered by the fall of FTX. Mazars, the accounting firm that worked for former United States President Donald Trump’s company, was appointed as an official auditor to conduct a “third party financial verification” as part of Binance’s PoR updates,
On Wednesday, one of the world’s largest decentralized autonomous organizations, Bitdao, announced the soft launch of a modular Ethereum layer two (L2) network called Mantle that claims to bolster lower fees and fast transactions. According to the Bitdao team, Mantle’s public testnet is scheduled to release in 2023. Decentralized Autonomous Organization Soft Launches Mantle, a
The chief of the United States Commodity Futures Trading Commission (CFTC), Rostin Behnam, claimed Bitcoin is the only crypto asset that can be viewed as a commodity during an invite-only crypto event at Princeton University, reported Fortune. Behnam’s comments are quite a contrast to his early statements in October, where he claimed Ether (ETH) could
On Nov. 30, 2022, the former FTX CEO Sam Bankman-Fried (SBF) discussed FTX’s collapse at the New York Times’ Dealbook Summit with Andrew Ross Sorkin in his first live-appearance interview since the crypto exchange’s downfall. SBF told the Dealbook Summit host that he was “deeply sorry about what happened” and further stressed that he “didn’t
The central bank of Ukraine has presented to interested parties a draft concept of the nation’s future digital currency, the e-hryvnia. The regulator is currently considering several potential applications for its digital coin, including retail payments and cross-border settlements. Ukraine’s Monetary Authority Introduces Banks and Businesses to E-hryvnia Project The National Bank of Ukraine (NBU)
Authorities in Manitoba are temporarily suspending the connection of new crypto mining facilities to the power grid. The Canadian province, which relies heavily on hydroelectric generation and attracts miners with low electricity rates, fears it may face overwhelming energy demand. Manitoba Suspends New Crypto Mining Operations Citing Possible Increase in Electricity Usage The government of
Former FTX CEO Sam Bankman-Fried apologized or admitted failure at least 12 times during his appearance at the New York Times’ DealBook Summit on Nov. 30. In a wide-ranging video interview, Bankman-Fried was asked to answer a number of questions surrounding the downfall of the now-defunct exchange, with some even suggesting that some of his
Cryptocurrency exchange Binance has acquired a regulated Japanese cryptocurrency exchange and is now preparing to enter the Japanese crypto market as a regulated entity. “The Japanese market will play a key role in the future of cryptocurrency adoption,” said the general manager of Binance Japan. Binance Entering Japan Cryptocurrency exchange Binance announced Wednesday that it
One of the leading figures convicted of being behind the $100 million crypto “Ponzi” scheme, EmpiresX, has just been handed an over four-year jail sentence by a United States court. The sentencing was handed to Joshua David Nicholas, the “head trader” of purported crypto platform EmpiresX, who is nowset to serve a 51-month prison sentence
U.S. Treasury Secretary Janet Yellen says that the collapse of crypto exchange FTX shows that the crypto industry “really needs to have adequate regulation.” She added: “It’s a Lehman moment within crypto, and crypto is big enough that we’ve had substantial harm with investors.” Treasury Secretary Janet Yellen on FTX Implosion and the Need for
The firm behind the decentralized content platform LBRY said its days are likely numbered following its recent loss against the United States Securities and Exchange Commission (SEC) in court. It is specifically LBRY Inc that must die, the LBRY protocol and blockchain will continue. pic.twitter.com/SWwbqTq9In — LBRY (@LBRYcom) November 29, 2022 The SEC initially took
Tesla CEO and Twitter boss Elon Musk has warned of a severe recession in the U.S. The billionaire stressed that the Federal Reserve needs to cut interest rates “immediately,” emphasizing that the Fed is “massively amplifying the probability of a severe recession.” Elon Musk Warns About Severe Recession Tesla CEO and Twitter chief Elon Musk
Equities, precious metals, and cryptocurrencies shined on Wednesday following Federal Reserve chairman Jerome Powell’s speech at the Brookings Institution in Washington. The crypto economy increased 3.11% to $860 billion, while the top four stock indexes jumped between 2% to 5% higher on Nov. 30. Stocks, Crypto, and Precious Metal Markets Jump Higher Against the Greenback
The total cryptocurrency market capitalization gained 2% in the past seven days, reaching $850 billion. Even with the positive movement and the ascending channel that was initiated on Nov. 20, the overall sentiment remains bearish and year-to-date losses amount to 63.5%. Bitcoin (BTC) price also gained a mere 2% on the week, but investors have