President of Kazakhstan Kassym-Jomart Tokayev has signed into law a bill amending the country’s Tax Code to impose higher tax rates on crypto miners. The levy will depend on the amount and average price of electricity utilized in the extraction of digital currencies like bitcoin.
Crypto exchange Coinbase is getting rid of slide decks and “endless meetings” as a way to improve productivity following the purge of roughly 18% of employees last month.
Brazil-based digital payments app PicPay is set to launch a cryptocurrency trading platform for its 65 million users, as well as a stablecoin tied to the country’s fiat currency, the Brazilian real. The exchange is the fintech firm’s first cryptocurrency-related offering.
On Tuesday, the U.S. Department of the Treasury announced an open invitation for comments on President Joe Biden's Executive Order on digital assets.
Polkadot [DOT] continued its downward movement below its four-month trendline resistance (yellow, dashed). The current structure found immediate grounds in the $6.45-zone. A rebound from its long-term support can position the alt for near-term revival.
New investors in the cryptocurrency space must understand the different sectors of investment and the drivers of price gains. Axie Infinity (AXS) was one of the best coins in 2021 because it operated in one of the most popular sectors in ‘play-to-earn’ also known as P2E. By dedicating time to a blockchain game, users were able to earn rewards with real-world value to trade with other players. KuCoin (KCS) managed to shrug off the recent downturn in the crypto market because it is a trading exchange with millions of users.
The California Department of Financial Protection and Innovation (DFPI) has warned consumers to “exercise extreme caution” when dealing with interest-bearing crypto-asset accounts.