WazirX exchange’s native token, WRX, benefited the most from India’s latest U-turn on crypto this week. WRX’s price jumps on India tax news WRX’s price surged nearly 30% to over $1, hitting a three-week high after the Indian government had announced a new tax regime for the regional crypto sector, reversing entirely from its earlier strict stance that
Month: February 2022
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MicroStrategy, the fortune 500 company with a 125,051 Bitcoin (BTC)-strong treasury, announced its Q4 2021 financial results on Feb. 2. The institutional software solution provider reported a net loss of $146.6 million incurred in impairment charges on its Bitcoin holdings. The high impairment losses added to the company’s operating expenses which saw a 125% increase at
Shortly after Meta, formerly Facebook, officially gave up on its stablecoin Diem, some of the key people in the project have become increasingly vocal about the uncensorable nature of Bitcoin (BTC). David Marcus, a co-founder of Diem, originally known as Libra, took to Twitter on Tuesday to predict that Bitcoin will be the number one
Bitcoin (BTC) may have stopped short of $40,000, but this week’s gains have helped spark a more significant breakout for underlying price strength. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView RSI breaks a two-month tradition Data from Cointelegraph Markets Pro and TradingView shows that sustained BTC price action above $37,000 this week has allowed the relative
ConsenSys announced Tuesday that it had acquired MyCrypto, the Ethereum wallet interface provider, adding it to the software company’s product suite. Its intent is to merge MyCrypto with the ConsenSys-owned MetaMask wallet, to “improve the security of all the products and create a cohesive user experience across desktop, mobile, extension and browser wallets.” We are
On Monday, the first cross-chain governance proposal passed on decentralized finance, or DeFi, borrowing and lending platform Aave. According to DeFi Llama, the amount of total value locked on Aave is approximately $12 billion. As told by its developers, an executed proposal on Aave, which is built on the Ethereum (ETH) network, was sent to the
Security was never the strong suit of browser-based crypto wallets to store Bitcoin (BTC), Ether (ETH) and other cryptocurrencies. However, new malware makes the safety of online wallets even more complicated by directly targeting crypto wallets that work as browser extensions such as MetaMask, Binance Chain Wallet or Coinbase Wallet. Named Mars Stealer by its
Decentralized finance (DeFi) and the control it gives users over their assets is one of the most applicable sectors of the cryptocurrency ecosystem, but the general public is still hesitant to interact with most DeFi products due to the steep learning curve and the possibility of losing funds. One decentralized exchange (DEX) that is taking
Nonfungible tokens (NFTs), gaming protocols and the dawn of the Metaverse were all trending topics in 2021 and they are shaping up to be even bigger in 2022. NFTs and Metaverse-related projects are also bouncing back quickly from the market-wide downturn and Vulcan Forged (PYR) is one of the top movers this week. The project
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 a Tuesday Bloomberg report, Peirce said that the 654-page proposal recently released by
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 acquired a Type I Financial Instruments Business license under
Down in Bogotá, cryptocurrency adoption is raging on. Colombia’s tax authority, the DIAN, (Dirección de Impuestos y Aduanas Nacionales de Colombia) has begun to catch up. It seeks to take “special measures” to crack the whip on cryptocurrency tax avoiders. In a statement released on January 28th, the DIAN stated that it would attempt to better
The Indian government has announced the upcoming launch of the country’s central bank digital currency. The digital rupee will be issued by the Reserve Bank of India (RBI) in the financial year 2022-23, Indian Finance Minister Nirmala Sitharaman said during her budget speech. RBI’s Digital Currency, the Digital Rupee, Coming Soon India’s finance minister, Nirmala
The DIAN, the Colombian tax authority, has announced it is taking special measures to tighten controls on taxpayers currently using cryptocurrencies to transact. With these actions, the organization seeks to detect any taxpayers that have used crypto assets and failed to report these activities, or reported them erroneously. This action seeks to thwart cryptocurrency-related tax
A Tanzanian fintech startup revealed it has raised $10 million in its latest funding round and is planning to use the funds to finance an expansion into other African countries. Fintech Plans to Enter 12 More Countries by Year’s End The Tanzanian fintech behind an app that enables payments from the U.K. to Africa, Nala,