Category: NFT Investment

Categories
Bitcoin Bitcoin Investment Bitcoin Wallet Crypto Mining Cryptocurrency Investment Cryptocurrency news Investment News NFT Investment

Belarus moves to allow investment funds to acquire crypto assets

Belarus, a crypto-friendly nation, is gearing up to allow investment funds to put money into digital currencies. A proposal for this is part of a package of legal changes needed to attract these institutions to the country.

Ministry of Finance takes steps to facilitate investments in cryptocurrencies in Belarus

The Ministry of Finance has published amendments aimed at attracting investment funds to Belarus for public consultation. Despite having a regulatory framework for collective investments, so far no fund has been registered in the country, the department said in the reasons for the initiative.

One of the main reasons for the absence of these funds is that they are currently barred from investing in crypto assets, representatives from professional circles pointed out. The market for “digital tokens”, a legal term used to describe cryptocurrencies, is growing rapidly, the Ministry of Finance acknowledged.

To lift the restrictions, the ministry drafted a resolution amending its own decree on stock market activities belonging to investment funds. It plans to allow the funds to operate simultaneously as securities brokers and residents of the Belarus High Tech Park (HTP). The latter administers a special legal regime established to facilitate the country’s digital economy, including the cryptocurrency sector.

Another concern expressed by professionals is the absence of long-term guarantees from the government regarding the existing tax cuts for the sector. To address the issue, the Ministry of Finance has introduced new provisions that will extend tax exemptions for entities working with collective investments until January 1, 2031.

Belarus opened its doors to cryptocurrency companies with a decree “On the development of the digital economy” that took effect in the spring of 2018. The document, signed by President Alexander Lukashenko, introduced tax breaks and other incentives for companies managing digital assets. . .

Despite Lukashenko hinting at a possible tightening of regulations last March, Belarusian officials more recently indicated that Minsk officials have no intention of adopting stricter rules for the crypto space, even as the country’s closest ally, Russia, is in discussions. a proposal to ban a variety of cryptocurrency-related activities.

Although the use of cryptocurrencies as a means of payment is prohibited in Belarus, HTP residents can issue and exchange coins and tokens, and the country’s largest bank offers a service that allows users to buy and sell digital currencies. Chainalysis’ cryptocurrency adoption index ranks Belarus third in Eastern Europe after Russia and Ukraine due to strong peer-to-peer activity.

Categories
Bitcoin Bitcoin ETF Bitcoin Investment Bitcoin Wallet Cryptocurrency Investment Cryptocurrency news Investment News NFT Investment

60,000 Indians urge government to cut cryptocurrency tax to avoid ‘devastating impact’

Many Indians have signed a petition for the government to introduce reasonable tax policies for cryptocurrencies. This week, India’s Finance Minister Nirmala Sitharaman proposed taxing cryptocurrency income by 30%.

Indians Sign Petition Calling Government to Reconsider Cryptocurrency Tax Proposal

A petition has been started on Change.org for the Indian government to “introduce reasonable tax policies for cryptocurrencies”.

Finance Minister Nirmala Sitharaman said during her 2022-23 budget speech earlier this week that crypto income will be taxed at 30% and no deduction will be allowed except for the cost of acquisition.

Aditya Singh, who runs the “Crypto India” YouTube channel, started the petition asking India’s Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman to make changes to the tax proposal. To date, more than 58,000 people have signed the petition.

The petition begins by noting that there are between 15 and 20 million cryptocurrency investors in India, as well as several hundred thousand young Indians who are part of the industry. Furthermore, Indian investors hold around $6 billion worth of crypto assets. The petition adds:

The crypto industry also contributes significantly to the country in the form of employment, bringing FDI investments, GST payments and income tax revenue to the government.

The petition asks Prime Minister Modi and Finance Minister Sitharaman to consider five requests.

The first request is that the cryptocurrency industry not be treated like the betting and gambling industries. The second is to adjust the current proposed rate of 30% to the rate applicable to equity transactions.

Furthermore, the proposed 1% tax deducted at source (TDS) should be reduced to 0.05% and “compensation and pass-through of losses should be allowed as cryptocurrency markets are in their early and highly volatile stages” . The acquisition cost must also be defined “to include exchange rates, blockchain network fees, interest payments, royalty payments on NFTs, etc.”

Categories
Bitcoin Bitcoin ETF Bitcoin Investment Bitcoin Wallet Crypto Mining Cryptocurrency Investment Cryptocurrency news HYIPs Investment News NFT Investment

What can Crypto do for the world?

When Bitcoin was first launched in 2009, no one knew the dramatic impact cryptocurrencies would have on our world. Today, blockchain technology is used everywhere, pioneering a technological revolution across the world.

The decentralized nature of cryptocurrencies has awakened people to the potential of their powers. With no banks or intermediaries of any kind, cryptocurrencies allow people to send payments, make investments and buy certain goods and services without limits. In addition, NFT, DAO and DeFi allow self-management of property rights, operations and financial services, respectively.

In addition to technological applications, people have discovered that cryptocurrencies can be used to do good, both for the planet and for humanity as a whole. In a project called “Cardano Forest”, Veritree, a restoration group that uses blockchain to track and verify restoration projects, has planted over 1 million trees in different parts of Madagascar, Indonesia, Nepal, Kenya, Senegal and Haiti. The operation was funded by Cardano’s philanthropic holders, with some donations reaching tens of thousands of ADA tokens.

Blockchain is perfect for project tracking and verification because of its immutable and transparent nature: transparency makes publicly stored data verifiable and immutability makes that data tamper-proof. These aspects also make blockchain ideal for managing digital asset ownership, enabling efficient issuance and trading of stocks and bonds on-chain.

Bob Eco Ltd, an environmentally-focused electric vehicle company offering electric two- and three-wheel vehicles in developing countries. Bob Eco is a pioneer in the digital asset space raising funds through something he calls “ICOWA” or “ICO with Assets”. ICOs, or Initial Coin Offerings, are fundraising events during which cryptocurrency projects sell utility tokens to early investors to raise capital. In an ICOWA, digital asset tokens are sold, not utility tokens.

Bob makes a difference by supplying electric motorcycles and electric tricycles in Africa. Bob Eco offers there on a self-rental basis, which are custom built to transport passengers and deliver food, packages and products.

Bob’s also offers a real-time exchange service that allows Bob’s riders to change their motorcycle batteries for free; this saves passengers about $4.40 in fuel a day, making them nearly four times as much as traditional gas-powered motorcycle taxis. Bob motorcycles are the world’s first mass-market electric vehicles that cost less to own, maintain and operate than a fuel-powered vehicle.

As African fuel-powered motorcycle taxis emit around 5 tonnes of carbon dioxide (CO2) every year, Africa’s 100 million motorcycle taxis emit 500 million tonnes of CO2 emissions every year. Bob’s goal is to see all motorcycle taxis go electric in the next 10 years, helping passengers and the world.

Categories
Bitcoin Bitcoin ETF Bitcoin Investment Bitcoin Wallet Crypto Mining Cryptocurrency Investment HYIPs Investment News NFT Investment Paypal

The Federal Reserve may reveal a national cryptocurrency

Many analysts are working to find out why Bitcoin suddenly had such a nasty drop in price. The world’s number one digital currency by market cap has fallen below the $40,000 mark after hovering there in recent weeks, and it looks like it could be because BTC is in line to face stiff competition from the Fed. Federal.

The Federal Reserve wants to issue a new cryptocurrency

The Fed released a statement explaining that it is looking into the possibility of issuing a national central bank cryptocurrency. The Federal Reserve has made it clear that it has no plans to go ahead with issuing the currency unless it has the backing of Congress and the White House. However, he is putting the situation out in the public and asking for comments.

The Federal Reserve is now involved in a study that aims to discover the benefits of these bank-issued currencies, and according to a new report, the benefits are pretty strong. More than anything though, the situation puts the US in a rather unique position, mainly because it seemed like the country would never go down that path given how loyal and dedicated it is to the US dollar.

Until this point, it was clear that only China was willing to enter the route of issuing a national form of cryptocurrency. In 2019, the country pulled back the curtain on the digital yuan, a virtual version of fiat currency that everyone uses to shop. The currency has been through a period of severe testing and has caused some people to wonder what, or even if, other nations would do the same. It looks like the United States could be next in line.

However, while the news is interesting, it appears to have produced some unpleasant results for BTC, which is down over $2,000 after the announcement. The report detailing the study says:

The Federal Reserve does not intend to proceed with issuing a CBDC without clear support from the executive branch and Congress, ideally in the form of a specific authorization act.

What will this do to the industry?

The situation is a bit confusing, as while that route may be unavoidable for many developed countries (after all, we’ve heard for years that cryptocurrencies are the way of the future), it’s possible that many true digital currency traders don’t be. intrigued by the idea of ​​a bank issuing a national cryptocurrency as this goes against everything crypto stands for.

Digital currency was initially designed to take power away from financial institutions and give it back to the people. These assets were built to give people a little more say in their lives and financial decisions. If these currencies are suddenly issued or controlled by banks, we can expect these freedoms to begin to dissipate, and the world of cryptocurrencies could become as centralized as traditional finance.

Categories
Bitcoin Bitcoin ETF Bitcoin Investment Bitcoin Wallet Crypto Mining Cryptocurrency Investment Cryptocurrency news Ethereum HYIPs Investment News NFT Investment Paypal

Grayscale considering 25 more crypto assets for investment products

Grayscale, the world’s largest crypto asset manager, is considering 25 more crypto assets for investment products. With the latest additions, the company’s list of currencies under consideration has grown to 43. “The process of creating an investment product similar to those we already offer is a complex and multifaceted process,” said Grayscale.

25 Crypto Assets Added to List of Coins Under Consideration for Grayscale Investment Products

Grayscale Investments announced Monday that it has updated its list of digital assets under consideration for 2022. Grayscale currently has $30.6 billion in net assets under management.

The company explained that the list of “Assets under consideration” includes “some digital assets that are not currently included in a grayscale investment product, but have come to our attention as part of our exploration of this sector and that our team has identified as possible. candidates for inclusion in a future investment product. Grayscale details:

With our most recent update in January 2022, we added an additional asset to our Product Family column and 25 assets to the Assets Under Consideration column.

Amp (AMP) is the only digital asset added to the Grayscale family of products.

The additional 25 assets under consideration are Algorand (ALGO), Arweave (AR), Axie Infinity (AXS), Bancor (BNT), Bittorrent (BTT), Bora (BORA), Convex (CVX), Cosmos (ATOM), Decred ( DCR), Elrond (EGLD), Enjin (ENJ), Fantom (FTM), Gala (GALA), Gelato (GEL), Hélio (HNT), Holo (HOT), Iota (IOTA), Oasis Network (ROSE), Secret (SCRT), Spell (SPELL), Stacks (STX), The Sandbox (SAND), Universal Market Access (UMA), Vechain (VET), and Yield Guild Games (YGG).

Grayscale added:

The process of creating an investment product similar to those we already offer is a complex and multifaceted process.

“This requires significant analysis and consideration and is subject to our internal controls, custody arrangements and regulatory considerations, among other things,” the asset management firm explained.