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Tag: Cryptocurrency assets

Bitcoin’s Market Dominance Increases, Price Struggles around $36,000

In the latest crypto sell-off, BTC holders suffered huge losses. However, there was one bright spot for the holders of Bitcoin. The overall market dominance of the most valuable digital currency sp...

Regulated Canadian crypto trading platform Bitbuy deploying Eventus for trade surveillance

Eventus Systems, a provider of multi-asset class trade surveillance and market risk solutions, announced today that Bitbuy, a Canadian-based cryptocurrency trading platform (recently approved as a regulated marketplace) will be using the Eventus Validus platform to meet all of its trade surveillance needs. With more than 375,000 users and $4.4 billion transacted through its platform, […]

The post Regulated Canadian crypto trading platform Bitbuy deploying Eventus for trade surveillance appeared first on CryptoNinjas.

Union Bank of Philippines to Offer Custodial Services for Crypto Assets as Demand Grows

A Filipino bank moves to create a digital assets custodial desk as cryptocurrencies grow in popularity in the country.

Another Islamic Organization Issues Fatwa Against Cryptocurrencies in Indonesia

"Tarjih's fatwa stipulates that cryptocurrency is illegal both as an investment tool and as a medium of exchange." These were the words written on Muhammadiyah's official website. 

Thailand Government Disperses Confusion Surrounding Cryptocurrency Taxation

Before now, some countries have mapped out some crypto taxes for transactions on cryptocurrency assets within their jurisdiction. Thailand is one of the countries that proposes some taxation plans. As the new year begins, the revenue department of Thailand is setting up its measures for implementing its tax plans on crypto traders this January. The move is to provide more clarifying information on the tax over crypto-related activities. According to the director-general of the revenue department, this month will mark the finalizing of the criteria for tax calculations which will be on crypto trading profits. The statement’s release was one week following its government’s disclosed plans to levy crypto miners and traders with a capital taxation gain of 15%. A Bangkok Post article on Tuesday reported the instruction of Prayut Chan-o-cha, the Thai Prime Minister, to the revenue department. He told the department to analyze the issue and map out the taxation plans for the investors and the entire public. Related Reading | Upside Potential in NFTs is Massive Says, Gary Vaynerchuk Following the Prime Minster’s instructions, the department has engaged the Bank of Thailand in a discussion. The talk is also the country’s Stock Exchange and Security and Exchange Commission. Cryptocurrency Investors React On Taxation Plan The Thai Digital Asset Association, while seeking clarifications, got in touch with the revenue department on Sunday. A local media reports that the association seeks to know more concerning withholding taxes and capital gains. Suppakrit Boonsat, the President of the Association, stated that many cryptocurrency investors accept the taxation. However, their concern is making moves that may violate the Revenue Code. Some traders are worried that there could be back taxation or penalties to trades and profits in previous years. According to a spokeswoman from the government, the authorities are not posing any hindrance to industrial development and innovation with fintech included. However, she warned that a rush to accept crypto trading without a thorough understanding could lead to a crypto crisis. Thailand intends to place its new taxation only on profits from miners and traders. In addition, there is an exemption of the country’s digital asset exchanges. With the largest affiliated with commercial banks and billionaire business tycoons. Related Reading | January Proves Turbulent For Investors But NFT And GameFi Seems To Be Eating Good According to the latest filing requirements, those that fail to comply with the rule will be heavilThethe move. In addition, they issued some warnings to individual businesses and commercial banks concerning adopting the country’s digital assets as pa through the movement options. In December, through the move Bank of Thailand mentioned its plan of drawing out measures for regulating crypto-related activities. The regulation, which was tagged ‘Red Lines,’ will cover both businesses and individuals within the crypto industry. Featured image from Pixabay, chart from TradingView.com

Chainalysis Report Claims Criminal Usage Of Cryptocurrency Will Decrease In 2022

The crypto market saw a huge rise in the year 2021. Along with legitimate use, it’s also used for many illegitimate purposes. But now, according to a recent report by data analytics firm Chainalysis, the criminal usage of cryptocurrencies might drop around the world in 2022. The legitimate cryptocurrency usage will outgrow the illegitimate as

The post Chainalysis Report Claims Criminal Usage Of Cryptocurrency Will Decrease In 2022 appeared first on CoinGape.

An Epic Beginners Guide to Uniswap [2020]

With so many new decentralized finance (DeFi) protocols emerging almost daily on the Ethereum blockchain, those in the crypto space hear almost every day...

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