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Crypto.com will now allow users to buy crypto with Apple Pay

Crypto.com recently announced the integration of Apple Pay into its app and website. Apple does not support crypto payments directly, but Crypto.com users will have the option to make in-app purchases.

These purchases can be made with the help of credit and debit cards through Apple Pay. Through this new development, the exchange should improve and boost the user experience.

Apple Pay will help facilitate a simple and secure payment method that can be used on the exchange to buy cryptocurrencies.

The exchange specifically agreed with the decision to incorporate this feature for its clients, as it could make transactions convenient but also ensure that security is not compromised. In addition, users who have Apple Card as a payment method when buying cryptocurrencies will be entitled to receive 2% Daily Cash on their purchases.

Apple Pay on Crypto.com is only available in the US now

Crypto.com wants its users to be able to easily deposit their funds using Apple Pay. Exchanges are also always on the lookout to make it easy for their users to deposit funds. This specific service must be available through the Crypto.com app itself.

However, this new feature is only available to US users, excluding residents living in New York State and US Territories. Territories include Puerto Rico, Guam, American Samoa, Mariana Islands of the North and also Virgin Islands.

While the feature is only available in the US, the platform has plans to roll it out to other countries on an ongoing basis in the near future. The new feature or functionality will include ongoing debit and credit charges that will be billed to the protocol.

In this new service offered by the exchange, trading limits for cryptocurrency purchases also apply. Apple Pay on iOS devices helps make payments easier for iPhone users.

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Albania will start taxing cryptocurrency-related income from 2023

Albanian authorities are finalizing regulations that will allow income and profits from cryptocurrency investments to be taxed. The government intends to start enforcing the tax in 2023, following the adoption of the necessary legislation that has been proposed for public consultation.

Albania prepares to impose taxes on cryptocurrencies as early as next year

The Albanian state is set to start collecting taxes on crypto asset income from 2023, according to a new income tax bill, local English-language portal Exit News reported on Friday. The government also expects to pass a number of other laws and statutes this year to comprehensively regulate the issue.

The special tax legislation is currently open for public consultation. It introduces the concept of taxing cryptocurrency holdings and income derived from virtual assets. The latter have been defined as “a digital representation of a security that can be deposited, traded or transferred in digital form, and that can be used for payment or investment purposes or as a medium of exchange, including, but not limited to, cryptocurrencies” .

However, the definition does not cover central bank digital currencies (CBDCs), the report notes. This is despite the fact that a growing number of monetary authorities around the world are developing a digital version of their national decrees. The list includes major powers such as the United States, the European Union, China and the Russian Federation.

Albanian law also defines cryptocurrency mining as an activity that uses computing power to confirm transactions and obtain virtual assets in exchange. Cryptocurrency mining has long been a gray area, although law enforcement is pursuing illegal mining facilities in the country and has brought charges against some of its operators.

Under the new legislation, any income from cryptocurrency transactions or mining will be classified as corporate income when received as a result of commercial activity. And when the beneficiaries are individuals, they will have to pay the 15% tax on capital gains.

The financial watchdog is tasked with expanding the regulatory framework for cryptocurrencies

Earlier this month, the Albanian parliament ordered the Financial Supervisory Authority (AFSA) to prepare and adopt new regulations on cryptocurrencies by the end of 2022. Albanian law allows cryptocurrency trading platforms to operate legally in the country, but there is currently no authorized entities operating in Albania. Exit News commented.

Two years ago, Albania also adopted a law entitled “Financial Markets Based on Distributed Ledger Technology”. While many welcomed the legislation, critics questioned whether the small southeastern European nation, which still aspires to join the EU, is able to properly regulate its cryptocurrency sector to prevent it from being used for money laundering. , something he is struggling to achieve. get in fiat. space.

The legislature referenced a recent report by the Council of Europe Expert Committee on the Assessment of Measures to Combat Money Laundering and the Financing of Terrorism (Moneyval), which recommended additional measures regarding the risks associated with cryptocurrency. In November 2021, the AFSA passed its first two regulations implementing the cryptocurrency markets law, which introduced capital and license requirements for entities dealing with digital assets.

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Japanese Virtual Intellectual Property Company Raises $10 Million to Accelerate Metaverse Business

Brave Group Inc., a Japanese virtual IP company, recently said that it has raised $10 million in new capital and that the company hopes to use some of those funds to boost its “customer solution services in the metaverse marketing business.” Two local companies, foreign investment funds and individual investors participated in Brave Group’s latest funding round.

Metaverse market growth

A Japan-based virtual intellectual property company, Brave Group Inc., said recently that it has raised $10 million in new funding, bringing the total raised so far to $18 million. The company will use the new capital to strengthen its existing business operations and “expand its customer solutions services in the metaverse marketing business.”

In a recent statement, Brave Group revealed that Japanese companies such as Dawn Capital and Osaka Gas Co. Ltd. participated in the round which also included “foreign investment funds and individual investors”. In comments following the announcement of the capital increase, Kazuhiro Ishikura, general partner at Dawn Capital, said:

As the boundary between real and virtual life disappears, the form of entertainment will also change and new IP content KOLs are expected to be born. As the metaverse market grows globally, we believe that Brave group content will be at the heart of the excited virtual communities that will emerge. We hope that the strength of the anime and manga culture that Japan has cultivated over the years will reach the world virtually.

Yuichi Sakamoto, senior general manager of Osaka Gas’ innovation department, is quoted as saying his company is ready to help Brave Group Inc. to “carry out lifestyles and businesses that respond to the New Normal”.

For his part, Brave Group Inc. CEO Keito Noguchi said that by raising $10 million, his company would now “maximize the impact of Brave Group’s intellectual property not only in Japan, but also around the world.”

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Leading US Cryptocurrency Exchange Coinbase to Offer Bitcoin Futures Products on New Derivatives Exchange

Crypto exchange giant Coinbase announces the launch of its first Bitcoin (BTC) derivative product.

According to a new blog post from the company, the Coinbase Derivatives Exchange will launch Nano Bitcoin Futures (BIT), its first listed Bitcoin futures product, on June 27, with each contract valued at 1/100 of Bitcoin.

“Coinbase Derivatives Exchange, a Designated Contract Markets (DCM) futures exchange regulated by the [Commodity Futures Trading Commission], will launch its first listed cryptocurrency derivatives product on June 27:

Nanobitcoin futures (BIT). Initially, BIT futures will be available to trade through a number of leading brokers, including [specified] retail brokers [and] clearing companies.”

Coinbase says that the size of the contracts is designed to encourage retail investors to participate in the cryptocurrency futures markets.

“At 1/100th the size of a Bitcoin, it requires less initial capital than traditional futures products and creates a real opportunity for significant retail share expansion in regulated US crypto futures markets.”

The major US-based cryptocurrency exchange also notes that it is awaiting approval from the Commodity Futures Trading Commission (CTFC) to provide derivative products directly to its clients.

“Coinbase is awaiting regulatory approval of its own futures commission market (FCM) license so that we can offer margin futures contracts directly to our clients.”

Coinbase first acquired futures exchange FairX earlier this year, eventually turning it into the Coinbase Derivatives Exchange, saying it has plans to offer all Coinbase customers U.S. cryptocurrency derivatives products.

“Through this acquisition, we plan to bring regulated cryptocurrency derivatives to market, initially through FairX’s existing partner ecosystem. Over time, we plan to leverage the FairX infrastructure to offer crypto derivatives to all Coinbase customers in the US.”

Leading US Cryptocurrency Exchange Coinbase to Offer Bitcoin Futures Products on New Delivery Exchange
Cryptocurrency exchange giant Coinbase announces the launch of its flagship Bitcoin (BTC) derivative product.

In a new company blog post, contract exchange Coinbase launched Nano Bitcoin Futures (BIT), its first listed Bitcoin futures product, on June 27, each valued at 1/100 of Bitcoin.

“Coinbase Derivatives Exchange, a Designated Contract Markets (DCM) futures exchange regulated by the [Commodoss Futures Basic Trading Commission], launches its first listed crypto derivatives product on June 27:

Nanobitcoin futures (BIT). Initially, BIT futures will be available to trade with various leading brokers, including smaller [specific] clearing companies.”

Coinbase says that the size of the contracts is designed to encourage retail investors to participate in the crypto futures markets.

“At 1/100 the size of a Bitcoin, it requires less initial capital than traditional futures products and creates a real opportunity for significant minority share expansion in US regulated crypto futures markets.”

The leading US-based crypto exchange is also awaiting approval from the Commodity Futures Trading Commission (CTFC) to supply products directly to its clients.

“Coinbase is awaiting regulatory approval of its own futures commission merchant (FCM) license so that we can offer margin futures contracts directly to our clients.”

Coinbase first acquired FairX Futures Exchange earlier this year and eventually became Coinbase Derivatives Exchange, saying it plans to offer all Coinbase US customers crypto output products.

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Bank of Spain has registered 17 cryptocurrency companies

The Bank of Spain has already included 17 virtual asset service providers in its own registry, in which cryptocurrency exchange and custody service providers must be included in order to operate, according to Spanish law. Three startups were listed last week, but the big names in the cryptocurrency ecosystem are yet to be registered.

CryptoRegistration of the Bank of Spain reaches 17 companies

The Bank of Spain’s Virtual Asset Service Provider (VASP) registry reached 17 companies last week, with the addition of three more cryptocurrency businesses. The registry added several exchange and custody companies in June, including Jobchain Spain, Jobchain Austria, Criptan Trade, Eurocoin Broker, Lemacoin Crypto Solutions, Bitpanda and Vottun.

The registration of these companies accelerated in June, and most registered cryptocurrency exchanges are local companies that want to ensure they comply with Spanish laws. Since the bank opened its registration last year, it has added several crypto companies, starting with Bit2me, which was approved in February. The record now includes C.R. Technology and Finance, Bitcoinreport, Bit Base, Blox, Trade Republic Bank, Globalstar Technologies, Onyze Digital Assets, Bitgo Deutschland and BTC Direct Europe, in addition to the companies mentioned above.

Cryptocurrency registration is mandatory for cryptocurrency companies to operate in the country and was created in a change to a Spanish law that now requires cryptocurrency companies to follow certain guidelines to prevent money laundering and terrorist financing.

Big names still missing

While the registry has been very successful with local companies, forcing them to register their operations and implementing compliance tools for money laundering purposes, reception by major international exchanges has not been as successful. Names like Binance and other major exchanges are still off the list and are part of a list of exchanges currently in regulatory limbo.

Binance, specifically, has been named to a gray list issued by the Bank of Spain that includes cryptocurrency exchanges operating in the country. The company was recently reprimanded by the CMNV, the country’s securities regulator, which ordered Binance to stop offering cryptocurrency-related derivatives, including futures contracts, to Spanish users of its platform.