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Cryptocurrency

Thailand Exempts Crypto Transfers from VAT Payments until 2024

The Thai government has decided to exempt crypto transfers from value-added tax (VAT) payments until December 31, 2023, following a royal decree, the Bangkok Post reported. The new ruling states that crypto and digital asset transfers on regulated exchanges will not require 7% VAT payments until the start of 2024. According to The Block, this …

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Russia Considers Using Cryptocurrencies for International Settlements

Authorities in Russia are mulling over the possible use of digital currencies for international payments, a high-ranking official from the finance ministry has indicated. If recognized as property, he noted, cryptocurrency can be utilized in barter deals with foreign partners. Finance Ministry Suggests Russia May Employ Crypto in International Trade The possibility of using cryptocurrencies …

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The pros and cons of staking cryptocurrency

Let’s start with the basics: what is crypto staking? Staking is part of the process that certain cryptocurrencies use to verify transactions. It’s all part and parcel of a consensus mechanism called “proof of stake.” This sees blocks of transactions added to a blockchain, an indelible string of “blocks” of transactions, by people who already …

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Portugal’s Assembleia da Republica says no to two crypto tax bills

The Portuguese Minister of Finance had recently declared that cryptocurrencies in the country will soon be subject to capital gains taxes. The Portuguese congress, Assembleia da Republica, has rejected two bills that would have imposed a tax on cryptocurrencies. Portugal has long been regarded as a cryptocurrency tax haven, and the trading of cryptocurrencies has …

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GameStop Launches Self Custodial Wallet for Crypto, NFTs

Video game retailer GameStop Corp is advancing its reach into the Web3.0 ecosystem with the launch of its new digital currency wallet. As announced by the company, the new wallet is a non-custodial one, and it gives allowance to users to connect to decentralized finance (DeFi) platforms from within their web browsers. The company said allowance will be provided …

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Thailand Exempts Crypto Transfers From VAT Until End of 2023

Authorities in Thailand have formally introduced a value-added tax (VAT) exemption for transfers of cryptocurrencies through government-approved exchanges. The tax break, in force until the end of next year, will also apply to digital currency issued by the Bank of Thailand. Royal Decrees Enforce VAT Exemption for Crypto Trading in Thailand Investors moving cryptocurrencies and …

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Google seeks fresh talent to lead global Web3 team

The role will be tasked with raising awareness about Google Cloud’s Web3 initiatives in addition to eventually building customer demand for the related offerings. Following the establishment of a Web3 team under Google Cloud on May 6, tech giant Alphabet’s Google is now on the lookout for a full-time candidate to lead its Global Web3 marketing strategies. …

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Report: The Metaverse Might Contribute $320 Billion to Latam’s GDP in the Next 10 Years

A new report indicates that the metaverse might be a significant factor in the growth of economies in Latam and the world in the coming decade. The study, issued by Analysis Group, estimates that Latam might benefit from a surge of $320 billion or an approximate 5% of its GDP, in the next 10 years. …

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CFTC Chairman Confirms Bitcoin, Ether Are Commodities

The chairman of the U.S. Commodity Futures Trading Commission (CFTC) says he is certain bitcoin and ether are commodities. He outlined how his agency is working with the U.S. Securities and Exchange Commission (SEC) to regulate the crypto sector, noting that “there are no customer protections right now in the crypto market.” Bitcoin and Ether …

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Shopify Expands Crypto Payment Options With Crypto.com Pact

Shopify merchants also have access to Jack Mallers’ Strike, Coinbase Commerce and BitPay. Merchants using e-commerce platform Shopify (SHOP) now have access to Crypto.com as another way for accepting cryptocurrency payments. Sellers using the Crypto.com Pay feature can allow customers to settle their accounts with over 20 tokens, according to a statement. Strike, the payments network headed by Jack Mallers, announced …

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