Bitcoin (BTC) starts a new week in a precarious place — below $45,000 and below some key moving averages. What's next?
Cardano ($ADA) blockchain went under a successful Alonzo upgrade on September 12 integrating smart contract support on the network. The long-awaited upgrade made Cardano blockchain smart contract compatible opening avenues for a new ecosystem that would comprise of Dapps and NFTs. Cardano founder Charles Hoskinson tweeted the successful upgrade bringing a new era to the blockchain.
While the broader cryptocurrency market has been witnessing selling pressure, Polkadot (DOT) heads north defying the market trend. Polkadot’s DOT cryptocurrency surged all the way 16% hitting an intraday high of $37.61.
China is planning on leveraging blockchain technology to digitize its securities industry. Representatives from the country’s largest stock exchanges and regulatory bodies held a meeting to discuss the future of the securities industry and the role of blockchain tech. The event was organized by the China Securities Association (SAC) and brought together securities regulators, including the China Securities Regulatory Commission (CSRC). China has been promoting the use of blockchain tech for many years now.
To celebrate the holiday season in India, cryptocurrency exchanges are looking to lure retail traders by launching aggressive marketing campaigns and giving away crypto.
Greyp Bikes, a company founded by Croatian innovator and entrepreneur Mate Rimac, has integrated crypto payments into its online billing system. All of its high-tech cycling products can now be purchased using nine different coins thanks to a partnership with payment processor Paycek.
The deadline for South Korean crypto exchanges to meet new compliance requirements is looming fast, with all operators expected to submit requests for an official license with the Financial Services Commission (FSC) no later than Sept. 24.
The government of El Salvador has announced that foreign investors will be exempt from taxes on bitcoin profits. A government adviser disclosed the information on Sept 10, which is a development that further incentivizes entrepreneurs and investors to enter the nation. Speaking to AFP, Javier Argueta, legal adviser to El Salvador’s President Nayib Bukele, said, “If a person has assets in Bitcoin and makes high profits, there will be no tax. This (is done) obviously to encourage foreign investment.”
Cosmos (ATOM) has been surprisingly uphill this year since its launch.
In the past 24 hours, the coin has increased by a whopping 20%, reaching a value of $33.38 at news time. As per CoinMarketCap, its rank by market capitalization stands at the 28th position.
The Indian cryptocurrency ecosystem breathed a sigh of relief on Monday, as an ET report claimed that the government authorities might tax crypto transactions and exchanges in the near future. Insider sources told the publication that the tax department favors taxation instead of an outright ban. However, the taxation of crypto assets won’t make it an asset class.