Bitcoin and Ethereum prices continued to drop on Wednesday (Dec. 29), extending Tuesday’s slump amid fears of a tougher regulatory stance the United States Federal Reserve could take on cryptocurrencies in 2022. Bitcoin was trading 1.38% lower at $46,897.62 as of 8:14 am ET. A minute later, Ethereum lost 1.6% to go for $3,732.59. Other tokens also got hit. Cardano and Solana
READ MORE
El Salvador, the first country to use Bitcoin as legal tender, plans to construct a “Bitcoin City” with the popular cryptocurrency used to fund the project. The city will be built near Conchagua volcano in the south-eastern region of La Unión and will be circular to represent the shape of a coin, the country’s President Nayib Bukele announced during the Latin American
READ MORE
Authorities in Slovenia are reportedly seeking public consultation on a draft bill related to how cryptocurrency holdings and transactions are taxed in the country, according to local media reports. The Finance Ministry’s move comes more than a month after the Financial Administration of the Republic of Slovenia (FURS) proposed a 10% tax on cryptocurrency activities. “We would like to emphasize that it is
READ MORE
Kazakhstan once encouraged bitcoin miners to set up shop in the Central Asian nation offering subsidies and tax incentives, but now in the midst of an energy crisis, it’s looking to put a cap on the industry’s growth, local media report. Data from the Cambridge Bitcoin Electricity Consumption Index shows that Kazakhstan’s global share of cryptocurrency processing power has increased significantly, with the country
READ MORE
Swiss markets watchdog FINMA said on Wednesday (Sept. 29) it had approved the country’s first fund that invests primarily in crypto assets based on the blockchain or distributed ledger technology. The fund, which is restricted to qualified investors, goes by the name of the “Crypto Market Index Fund” and will now be sorted under the category of “other funds for alternative investments”
READ MORE
China intensified its cryptocurrency crackdown on Friday (Sept. 24) and vowed to root out “illegal” trading activity and mining of digital assets. “Virtual currency-related business activities are illegal financial activities,” the People’s Bank of China said in a statement, adding it “seriously endangers the safety of people’s assets”. Beijing has taken steps to curb the rise of cryptocurrency since at least 2013.
READ MORE
The government in India is planning to tax cryptocurrency exchanges and trades, The Economic Times reported on Monday (Sept.13), citing sources. The cabinet is likely to discuss the bill on the proposed regulation “soon,” according to the report. Chairman of India’s Parliamentary Standing Committee on Finance Jayant Sinha on Wednesday (Sept.8) stressed that the country will take a stance on cryptocurrencies like
READ MORE
