This report will provide some essential and quick news about the cryptocurrencies happening worldwide.
1) Yuga Labs has deployed ApeChain on Ethereum
Yuga Labs, the Web3 company responsible for the Bored Ape Yacht Club, has officially integrated ApeChain, a Layer 2 blockchain that is based on Ethereum. Yuga Labs has introduced the ApeChain bridge and Swap portal in addition to the blockchain itself, which allows users to effortlessly conduct cross-chain transactions…[continue reading]
2) Russia will permit bitcoin mining beginning on November 1, 2024
The global crypto industry, and Bitcoin mining in particular, is on the brink of significant consequences as a result of this action. The decision has the potential to enhance Russia’s economic growth and solidify its status as a significant participant in the cryptocurrency sector…[continue reading]
3) Binance Trading Volume Exceeds $100 Trillion
According to CCData, Binance has recently achieved yet another milestone by surpassing the $100 trillion threshold in terms of its total spot and derivatives trading volume. This instantly elevated it to the position of top worldwide cryptocurrency exchange in terms of total volume, far surpassing its rivals in this regard…[continue reading]
4) The Singaporean bank DBS Bank launches a token service
Singapore-based DBS Bank has introduced a collection of new services known as the “DBS Token Service.” More specifically, the new services consist of Conditional Payments, Treasury Tokens, and Programmable Rewards. This is consistent with the bank’s objective to create blockchain-based solutions for institutional consumers. The bank’s primary objective is to enhance the operational efficiencies and transaction banking capabilities of its institutional clients…[continue reading]
5) Stripe Offers $1B for Bridge Stablecoin
Bridge, a crypto stablecoin startup, is presently in negotiations with Stripe to acquire the company for $1 billion. The fintech unicorn would make its largest acquisition just months after Stripe cofounder John Collison declared, “Crypto is back.”…[continue reading]
6) Indian crypto tax is government effort to ‘displace’ tech Lawyer
Amit Kumar Gupta, a legal practitioner at the Indian Institute of Technology-Kanpur and the Supreme Court of India, delivered a research paper on crypto taxation in India at the Peer-to-Peer Financial Systems Workshop 2024…[continue reading]
7) Italy Is Going to Raise the Tax on Cryptocurrency
There have been reports from Reuters and Bloomberg that indicate Italy is planning to increase the capital gains tax that it levies on cryptocurrency from 26% to 42%. Deputy Minister of Finance Maurizio Leo noted that this decision was made as a result of the increasing use of digital currencies such as bitcoin…[continue reading]
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