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South Korean Deputy Prime Minister Eases Anti-Crypto Rhetoric, Aims to Create More Domestic Market Opportunities
21.5.2021
The South Korean government seems to be easing its anti-crypto tone, as the Deputy Prime Minister came forward with a statement that opened the doors for future open dialogue on virtual currency topics. Hong Nam-ki unveiled that officials are assessing ways to get young people into “domestic...
Japanese Pro-Crypto MP Spells Out Vision of Crypto, NFT Regulatory Future
21.5.2021
Japan’s most vocal pro-crypto MP has spoken out about his vision for Japan’s crypto regulation – and claims backing non-fungible tokens (NFTs) could help create a new growth engine for cultural exports.
The comments came from Shun Otokita of the Japan Innovation Party, the third most-represented...
B2BinPay Launches Version 2.0: Major Product Upgrade Includes New Blockchains, Tokens and Pricing
20.5.2021
PRESS RELEASE. B2BinPay, one of the industry’s leading crypto processing providers, has announced the launch of version 2 of its award-winning payments solution. The new version is a highly-anticipated upgrade to the current offering and includes a series of feature enhancements and...
Samsung Adds 3rd-Party Crypto Wallet Support
20.5.2021
The electronics giant Samsung has announced that it will allow users of older Galaxy smartphones that do not feature its crypto wallet app – the Samsung Blockchain Keystore – to use hardware wallets. The company also reorganizes its blockchain division and expands the scope of its phones’ crypto...
Bitcoin Hashrate Slides- Low BTC Prices, Sichuan Wet Season, Upcoming Difficulty Spike to Blame
20.5.2021
While bitcoin prices plummeted this week, the network’s hashrate has also dropped considerably since tapping a high on May 9. Since then, the hashrate has seen swings between 10-15% because of the crypto market downturn, alleged issues with alleged power outages in Sichuan, China, and...
US Treasury Unveils Biden’s Proposed Tax Measures — Cryptocurrency Transfers Over $10,000 to Be Reported to IRS
20.5.2021
The U.S. Department of the Treasury has announced measures to crack down on tax evasion involving cryptocurrencies as part of President Joe Biden’s proposed tax compliance measures. Among the measures is a requirement for businesses that receive crypto assets with a fair market value of more...
USD 10K+ Crypto Transfers & IRS, Central Banks on Crypto Volatility + More News
20.5.2021
Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.
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Tax news
The US Treasury said the Biden administration’s proposal to strengthen tax compliance includes a requirement for transfers of...
Surveyed UAE Nationals Keener to Invest in Crypto than Western Expats
20.5.2021
Younger Emirati respondents are much more bullish than Western expats about the opportunities potentially offered by exposure to cryptoassets, according to a recent survey released by the Dubai-based financial services company Holborn Assets.
Carried out online by the UK pollster YouGov, the survey...
Top US Banking Regulator to Review Cryptocurrency Standards Under New Leadership
20.5.2021
The new Acting Comptroller of the Currency, Michael Hsu, has requested a review of the cryptocurrency standards established by the top U.S. banking regulator. He is also urged to “reassess any conditional national trust charters and halt the approval of any additional charters to nonbank...
Flash Crash Post-Mortem: Overleveraged Crypto Gamblers Did It Again
20.5.2021
The flash crash in the crypto market on Wednesday was heavily exasperated by liquidations and leverage - debunking some narratives along the way.
Yesterday, almost USD 9bn worth of trading positions (around 800,000 in total) in the crypto derivatives market were liquidated, per Bybt.com data....
US Lawmaker Pushes for Safe Harbor Legislation to Protect Crypto Investors With Forked Coins
20.5.2021
US Congressman Tom Emmer is pushing for safe harbor legislation to protect taxpayers with forked coins. A bill entitled “Safe Harbor for Taxpayers with Forked Assets Act of 2021” has been introduced to prohibit “penalties against taxpayers attempting to report certain gains...
Australian Senator Says Cryptocurrency Is Not a Fad — Government Won’t Stand in the Way
20.5.2021
Australian Senator and Minister of Financial Services Jane Hume said that “cryptocurrency is not a fad. It is an asset class that will grow in importance.” She emphasized that the government won’t stand in the way of crypto investing. “We have to let people make their...
Report: Over 100,000 African Youths Have Participated in Binance’s Crypto Education Initiative
20.5.2021
According to reports, over 100,000 African youths have taken part in Binance’s crypto and blockchain education barely a year after the learning program was launched. Dubbed the Binance Masterclass, the education initiative is aimed at equipping newcomers with basic knowledge about...
Elon Musk Invented Bitcoin, if You Ask Half of Australians Polled by Finder
20.5.2021
Australians have been learning more and more about cryptocurrencies but it turns out some myths and misconceptions are still widespread among the general public Down Under. As a most stunning example, over half of the participants in a new poll by Finder believe Elon Musk invented the first crypto...
Indian Government to Set up Panel of Experts to Take a Fresh Look at Regulating Cryptocurrencies: Report
20.5.2021
The Indian government is reportedly looking to form a new “panel of experts” to focus on ways to regulate the cryptocurrency industry in the country. “There is a view within the government that the recommendations made by Subhash Garg are dated and a fresh look is needed at use...
Election Candidates in Russia to Disclose Crypto Investments, New Bill Suggests
20.5.2021
A new bill obliging candidates running for election in Russia to declare their spending on digital assets has hit the floor of the State Duma. According to the draft, Russian politicians will be required to disclose details about every crypto purchase they and their families make, if the total...
deFIRE and Coin360 Partner to Deliver Crypto Market Data
20.5.2021
Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.
Smart order routing engine deFIRE has announced a partnership with crypto metrics provider Coin360. The partners hope to build a mutually beneficial...
Defi Economy Lost $20 Billion This Week, Decentralized Exchange Volumes Still Sky High
20.5.2021
While crypto markets, in general, have been dropping significantly in value, the decentralized finance (defi) economy has shaved more than $21 billion during the last week. Statistics show that the total-value locked (TVL) in defi touched $87 billion on May 11, and since then the aggregate total...
SoftBank Is Making Multiple Crypto Moves this Month
20.5.2021
The Japanese tech incubator giant SoftBank has had an active May so far, making a series of low-key investments in a number of crypto, non-fungible token (NFT) and decentralized finance (DeFi) projects.
In a recent report, the Japanese media outlet Coin Post charted SoftBank’s investment movements...
ECB Vice President Says Crypto Assets Are ‘Not a Real Investment’ Citing Weak Fundamentals
20.5.2021
The vice president of the European Central Bank (ECB), Luis de Guindos, has warned that crypto assets are “not a real investment” and are “subject to a lot of volatility.” His comments followed massive sell-offs across a broad range of cryptocurrencies. ECB VP Says Crypto...