nfts Archives

Mastercard to offer crypto and NFT consulting services

Mastercard announced that it is adding payments-focused consulting services for crypto and digital currencies. It may also eventually help develop central bank digital currencies (CBDCs). The financial services giant said its new offerings for banks and merchants will cover everything from cryptocurrency, NFT strategy, crypto cards to loyalty programs.

Crypto prices today: Bitcoin up 1%, ETH rises 3.4%

Bitcoin is currently trading at $44,008, a 1% rise over the previous day. Ethereum is up 3.4% over the last 24 hours to $3,133. Solana rose 1.5% to $102.83, while Cardano is up 2.8% to $1.10. Polygon (MATIC) jumped 5% to $1.81. The global crypto market cap stands at $1.99 trillion, a 2.03% increase over the previous day.

Russian Ministry pushes to legalize Bitcoin mining in some areas

Russia’s Ministry of Economic Development has greenlighted the concept of crypto mining regulation in the country. It is proposing to allow mining operations in areas with “sustainable surplus in electricity generation.” As part of the proposal, the ministry suggested introducing lower fees for setting up mining farms and data centers in specific Russian regions.

SEC investigating trading firms linked to Binance founder: Report

As per a report from The Wall Street Journal, The US Securities and Exchange Commission is looking into the connection between crypto exchange Binance US and two trading firms linked to Binance founder Changpeng “CZ” Zhao—Sigma Chain AG and Merit Peak Ltd. The agency is looking into the nature of Zhao’s involvement and whether the relationships were properly disclosed to customers.

BlockFi to pay largest SEC fine ever for a crypto case

Crypto lending platform BlockFi has settled with the US Securities and Exchange Commission (SEC) over charges the company allegedly offered interest accounts without registering them under the Securities Act. The company will pay $100 million in penalties, including $50 million to settle charges from 32 states. This is the largest penalty ever assessed in a crypto enforcement action.

Crypto prices today: Bitcoin up 3.2%, ETH rises 5.5%

Bitcoin is currently trading at $43,589, a 3.2% increase over the previous day. Ethereum has surged 5.5% over the last 24 hours to $3,030. Solana rose 7% to $101.4, while Cardano is up 3.6% to $1.07. Polygon (MATIC) rose 5.7% to $1.72. The global crypto market cap stands at $1.95 trillion, up 3.96% over the previous day.

UK Tax Authorities seize 3 NFTs involved in $1.8M fraud investigation

According to BBC, Her Majesty’s Revenue and Customs (HMRC) has seized three NFTs as part of a wider investigation concerning VAT (goods and services tax) fraud. This is the first time HMRC has seized an NFT. The deputy director of economic crime, Nick Sharp, said this example “serves as a warning to anyone who thinks they can use crypto assets to hide money from HMRC”.

Indian crypto enthusiasts seek reassessment of new taxes

The representatives of India’s crypto industry have appealed to the government to re-examine the budget proposal to impose a tax deducted at source (TDS) on cryptos, citing it will be difficult to comply with. They have also sought clarity on transactions with residents of a country with which India has a double taxation avoidance agreement.

Crypto worse than Ponzi schemes, banning them advisable: RBI Deputy Governor

Reserve Bank of India (RBI) Deputy Governor T Rabi Sankar said that banning crypto is the most advisable choice for India. He stated that crypto is akin to Ponzi schemes and “may even be worse”. “There are strong reasons to keep them away from the formal financial system,” he added.