Get your daily bite-sized breakdown of cryptoassets and blockchain news – investigate the stories flying under the radar of today’s crypto news.
- Big crypto exchange Coinbase revealed that it has been selected as the primary execution partner for MicroStrategyInvested USD 425 million in Bitcoin (BTC) last summer. “With our advanced execution capabilities, leading Crypto Prime brokerage platform and OTC desk, we were able to buy a significant amount of Bitcoin on behalf of MicroStrategy without changing the market,” they said, claiming their strategy allows the buyer to do so around Save USD 4.25 million.
- Banker and BTC magnate Jonathan Rowland could save the struggling British football club Wigan Athletic, according to to the sun. The estimated cost of taking the club out of service is around £ 3 million (US $ 4 million) while it would take another £ 5 million (US $ 6.6 million) to convince the club English football league (EFL) of its long-term plans. According to the article Rowland – the founder of the BTC Finance app mode – is “ready to fund an offer from former professional footballer Ray Ranson and former Wigan chairman Darren Royle”
Crypto tax messages
- The Russian State Duma will vote on a Russian crypto tax law. reported Regnum. The bill proposes to amend the country’s tax laws and impose fines equal to 40% of the total tax amount if those who fail to report their taxes and if approved by parliament, both individuals and businesses are required to authorities to report their trade profits to tax.
- The South Korean government has confirmed that it will delay the start of a new crypto tax program by three months. reported Newsis. Seoul had planned to require all crypto exchanges and private traders to file tax returns for trade-related profits from October 2021. However, following repeated claims by industry leaders that exchanges are not ready to deploy the necessary technological solutions just yet, the government gave the go-ahead to a parliamentary committee request for a three-month grace period, meaning that the crypto tax would instead be canceled on Jan. January 2022 will begin in the nation. The proposal is bundled with a number of other tax reforms – and will likely be made of rubber – stamped by lawmakers in the coming days.
Interest in the term “Bitcoin” has reached an 18-month high. According to Google Trends, the last time interest was at today’s level was in mid-June 2019 and before that after a major uptrend, an all-time high in price and an all-time high in Google searches in mid-February 2018.
- The Universal Protocol Alliance (UPA), a coalition of blockchain companies including Bittrex Global, Ledger, CertiK, InfiniGold, and Sustainedlaunched the Universal Carbon today [UPCO2], described in the press release as “the world’s first tradable carbon token on a public blockchain that can be bought as an investment and held or burned to offset an individual’s carbon footprint”. Each UPCO2 token represents a year-tonne of CO2 pollution that is avoided by a certified REDD + project to prevent the loss or deterioration of the rainforest. The mark is intended to “democratize an important new asset class that could lead to the setting of a global clearing price for carbon,” and additional resources that go directly to environmental projects, the coalition said.
- Main producer of BTC mining equipment based in China Canaan, reported that total net sales for the third quarter of 2020 were RMB 163 million (US $ 24.8 million), a decrease of 75.7% over the previous year of RMB 670.6 million (US $ 92.5 million) in the same period of the year 2019. and a QoQ decrease of 8.5% from RMB 178.1 million (US $ 27.1 million) in the second quarter of 2020. The year-over-year decrease was mainly due to the decrease in total computing power sold as well attributed to the average sale price per thash / s, the company said, while the QoQ decrease was mainly due to the decrease in the average sale price per thash / s.
- A new chapter has opened in Santander‘s longstanding legal battle with the crypto exchanges Buda in Chile. The bank is one of many who – a number of exchanges, including Buda claims – have arbitrarily closed their bank accounts with insufficient explanation and no warning. Per a post Office from the law firm PPU LegalThe bank has filed a legal document relating to a $ 180 million crypto pyramid scam that left four Buda customers out of their pockets, claiming that the exchange did not have the legal or technical tools in order to prevent this or even monitor the type of illegal incident. “