The Swiss city of Lugano has announced today that it will recognize cryptocurrencies as legal tender. According to Michele Foletti, the mayor of the City of Lugano, Bitcoin (BTC), Tether (USDT), and Lugano’s own LVGA Points token will be recognized as de-facto currencies. The announcement was made at Lugano’s Plan B event, where the city’s …
Monthly archives: March 2022
Binance boss CZ sticks up for everyday Russians, saying a blanket ban is unethical
The Binance exchange finds itself playing intermediary as the war between Russia and Ukraine continues to rage. Sanctions have cut several Russian banks from the SWIFT international payment network, triggering a bank run and the ruble’s collapse. With Bitcoin being borderless and apolitical, it has been thrust into the spotlight as a possible way to …
Kraken on-chain analysis shows crypto confidence is low
On-chain analysis conducted by Kraken exchange suggests bullish momentum for the leading crypto tokens “remains low.” “It’s tough to confidently determine what’s ahead for the crypto markets. However on-chain data paints a slightly bearish picture.” This is despite the market leader Bitcoin breaking a 12-week downtrend in early February. And Monday’s price spike, to $43,300, …
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SEC to look at possible securities violations in NFT market
The US Securities and Exchange Commission (SEC) is investigating NFT marketplaces and creators for possible breaches of its securities rules. According to Bloomberg, this investigation would mark the first regulatory scrutiny of NFTs since the sector’s explosive growth started. NFTs reportedly under SEC radar The report claimed that the SEC enforcement unit has sent subpoenas …
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Study: 77% of Saudis Aware of Cryptocurrencies, Only 18% Currently Buying and Selling
More than three-quarters of Saudi Arabian residents are aware of cryptocurrencies, a new Yougov survey has found. However, the study also found that only 18% of those surveyed are presently buying and selling cryptocurrencies. Easy Accessibility of Virtual Coins According to the findings of a Yougov survey, about 77% of Saudi Arabian residents are aware …
Brooke Shields, MAKE International, Casper Association and WISeKey Unveil First Secure NFT Minted From Space Featuring Shields’ Digital Imagery
press release PRESS RELEASE. NASDAQ and Times Square, New York – March 3, 2022: Brooke Shields, Make International and CasperAssociation have joined forces with leading global cybersecurity, AI, Blockchain and IoT company WISeKey International Holding Ltd. (“WISeKey”) (SIX: WIHN, NASDAQ: WKEY) to unveil an industry-first Non-Fungible Token (NFT) minted from space on the Casper Blockchain …
Ukraine’s Cyberpolice Force Starts Accepting Cryptocurrency Donations
As Ukraine is increasingly relying on crypto donations, its Cyberpolice force has also decided to seek help from the crypto community in the country and abroad. The unit now takes various cryptocurrencies to support law enforcement agencies and acquire essential supplies. Cyberpolice Ukraine’s Latest Government Body to Solicit Crypto Donations The Cyberpolice department of the …
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Leaked Images Suggest Opensea Plans to Add Solana-Based NFT Support
Leaked images that allegedly derive from the leading non-fungible token (NFT) marketplace Opensea indicate that the platform may soon introduce Solana-based NFTs. The images were discovered by the tech blogger Jane Manchun Wong who is well known for leaking information about yet-to-launch features from specific tech platforms. Tech Blogger With History of Discovering Yet-to-Launch Features …
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Ukraine Cancels Airdrop for Crypto Donors, Announces NFTs To Support Ukrainian Armed Forces
Ukraine is announcing the sale of non-fungible tokens (NFTs) to support the Ukrainian Armed Forces after canceling plans for a crypto airdrop. Yesterday, Ukraine said they were preparing to airdrop a new coin for crypto donors who gave to the Ukrainian war efforts against Russia. “Airdrop confirmed. Snapshot will be taken tomorrow, on March 3rd, at 6 pm Kyiv …
Billionaire Hedge Fund Manager Says He Was Wrong About Crypto, Hints at Getting Involved in Coming Months
Crypto critic Ken Griffin is changing his stance on digital assets as the global crypto market cap grew from just over $748 billion in 2018 to around $2 trillion today. The CEO and founder of hedge fund manager Citadel, who once said that he does not see the economic underpinning of cryptocurrencies, tells Bloomberg in …
Chicago Mercantile Exchange To Offer New Bitcoin (BTC) and Ethereum (ETH) Options Trading
Chicago Mercantile Exchange (CME) Group is preparing to launch new micro-sized options contracts for the two largest crypto assets by market cap. According to a press release, the new Micro Bitcoin and Micro Ether contracts will be one-tenth the size of a single Bitcoin (BTC) and Ethereum (ETH), respectively. The trading feature will go live …
Here’s Why Altcoin Markets Could See a ‘Spring Up’ This May, According to Crypto Analyst Nicholas Merten
A top crypto analyst is predicting that the overall altcoin market share against Bitcoin (BTC) will surge in the coming months. In a new video, Nicholas Merten tells his 511,000 YouTube subscribers that the measure of the valuation of the altcoins market relative to that of BTC, or altcoin dominance, is forming a pre-rally pattern. “All the …
1inch Network adds a P2P feature to facilitate secure crypto swaps
The decentralized exchange aggregator 1inch Network introduced peer-to-peer, or P2P, order functionality within the 1inch decentralized application, or DApp. This feature allows users to specify the person or wallet that will fill the other side of the trade, as opposed to over-the-counter or OTC payments where 1inch matches the order with a taker. 1/ It’s time to …
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Sygnum Bank set to release soccer-themed sculptures as AST’s
Digital asset institution Sygnum Bank has announced a collaborative partnership with highly-accredited Swiss-born artistic sculptor, David Pflugi to issue 6,000 Art Security Tokens, or ASTs, via his new project, Victory Works. Orientated around the final of three international competitions — the 2010 FIFA World Cup hosted by South Africa; the2014 FIFA World Cup hosted by …
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How are cryptocurrency taxes reported?
Cryptocurrencies are treated differently than standard assets, which, when combined with the limited CPA resources with extensive knowledge on cryptocurrency taxation, result in a stressful tax season. The current framework is complex to navigate since the IRS treats cryptocurrencies like Bitcoin (BTC) and nonfungible tokens (NFTs) differently from other assets, classifying them as property. Since …
