Portugal’s Parliament rejects crypto tax proposals
The Portuguese Parliament voted against two separate proposals from minority political parties to tax crypto assets. The proposal had asked the government to consider taxing crypto profits over €5,000 ($5,340.45).
Earlier this month, the country’s Minister of Finance declared his commitment to start taxing crypto. He said the government would work on the regulatory framework, but declined to commit to any time frame.
Crypto prices today: Bitcoin down 0.25%, ETH falls 2.7%
Bitcoin is currently trading at $29,616.4, a 0.25% decline over the previous day. Ethereum falls 2.7% over the last 24 hours to $1,922.42. Solana fell 5.2% to $46.27, while Cardano is trading lower by 3.1% at $0.501. Avalanche (AVAX) fell sharply by 8.6% to $25.9. The global crypto market cap stands at $1.25 trillion, a 1.6% decline over the previous day.
Ethereum Beacon Chain suffers longest blockchain ‘reorg’ in years
Ethereum Beacon Chain experienced a potentially high-level security risk known as a blockchain “reorganization” today. A reorganization (or reorg) can happen either through a network failure such as a bug or a malicious attack, temporarily resulting in a duplicate version of a blockchain.
CoinDCX launches ‘Earn’ feature that pays interest on crypto
CoinDCX launched its crypto yield program ‘Earn’ where customers can earn interest on their crypto assets. The platform will deploy assets across multiple yield generating opportunities such as margin trading, lending, and staking to generate returns. The feature offers users full flexibility and control over their crypto with no lock-in periods and withdrawals at any time.
Andreessen Horowitz announces $4.5 billion Web3 fund
US-based venture capital firm Andreessen Horowitz formed a new $4.5 billion fund that will invest in crypto and Web3 companies. It will be the firm’s fourth fund to target digital assets, with over $7.6 billion being raised in total.
We found an interesting article on how crypto is taxed around the world. Read it here!
