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“# 3 things every NFT investor should know to avoid a tax nightmare ” 2021 will be remembered as the year of nonfungible tokens (NFTs). In a year where names like Beeple and Bored Ape Yacht Club dominated the headlines, it’s estimated that NFTs have generated more than $23 billion in trading volume. The rise…
“# Jack Dorsey on UBI: Bitcoin encourages transparency, long-term thinking ” Twitter co-founder and Block (previously Square) CEO Jack Dorsey discussed the implications of a Bitcoin (BTC)-powered universal basic income (UBI) strategy with US congressional candidate and a full-time elementary school teacher, Aarika Rhodes. “Obscurity of information forces and incentivizes people to negative (financial) behaviors…
“# America COMPETES Act passes House without ‘disastrous’ provision on crypto ” A piece of legislation aimed at addressing supply chain issues to keep the U.S. economy and businesses competitive has passed the House of Representatives — without a provision many in the crypto space had criticized for giving the Treasury Secretary authority to shut…
“# US lawmakers issue warnings about digital yuan as Winter Olympics kicks off ” With the opening ceremony of the Beijing 2022 Winter Olympics completed and all competing athletes currently in China, two members of Congress are warning of the potential dangers of using digital yuan at the events. According to a Friday report from…
“# Blockchain startups grow as global VC funding generated $25.2B in 2021 ” Last year was impressive for blockchain startups, as research from CB Insights found that venture capital funding reached new heights during every quarter of 2021. According to CB Insights’ “State Of Blockchain 2021” report, $25.2 billion worth of venture capital funding went…
“# NFL to offer virtual NFT tickets at Super Bowl in Los Angeles ” The NFL announced officially on Wednesday that each fan who attends Super Bowl LVI in Los Angeles on Feb. 13 will receive a unique customized nonfungible token (NFT). The NFT will feature their unique section, row and seat to commemorate the game…
“# US lawmakers reintroduce bill to stop IRS from taxing crypto transactions under $200 ” A bill previously introduced by Washington Representative Suzan DelBene aims to exempt crypto users from paying taxes on transactions under $200. According to a Tuesday draft of the Virtual Currency Tax Fairness Act of 2022, Washington Representative Suzan DelBene is…
“# FTX acquires Japan’s FCA-licensed crypto exchange Liquid ” American billionaire and CEO of crypto exchange FTX Sam Bankman-Fried announced that his company acquired Japanese crypto firm Liquid Group and its subsidiaries. As a part of the deal, FTX will acquire Quoine Corporation, a Financial Services Agency (FSA)-approved crypto exchange. As Cointelegraph previously reported, Quoine…
“# SEC’s proposed rule on exchanges could threaten DeFi, says Crypto Mom ” Hester Peirce, a commissioner for the U.S. Securities and Exchange Commission known by many in the space as Crypto Mom, is warning that a proposed rule from the agency could potentially affect the regulation of firms involved with decentralized finance. According to…
“# Mark Zuckerberg’s stablecoin project Diem officially shuts down ” Meta, formerly branded as Facebook, has officially announced the closure of its digital currency project Diem after years of major efforts to move forward with the initiative. Announcing the news on Monday, Diem CEO Stuart Levey confirmed that Meta is selling intellectual property and other…