Russian parliament has approved a draft law which would exempt issuers of cryptocurrencies from value-added tax, also known as VAT.
Reuters reports that the law would also establish a new tax rate on taxed incomes from cryptocurrencies, of 13% for local companies and 15% for foreign companies. The legislation must also be approved by the upper house and the president before becoming law.
The move represents a sharp turn from the Russian central bank's previous call for a blanket ban on cryptocurrency, however the country appears to have warmed up to the asset class following sanctions.
Retail trading app Robinhood has listed Chainlink (LINK) on its platform – its first cryptocurrency listing since April of this year. The LINK token price spiked in price by around 8%, however has since corrected to pre-announcement levels.
LINK is the native token of the Chainlink oracle network – a platform which functions as a portal that delivers off-chain information to blockchains in a reliable way.
Reports have also emerged that crypto exchange FTX is looking to acquire the Robinhood platform.
Tether CTO Paolo Ardoino has claimed that Tether (USDT) has become the focus of a coordinated attack by hedge funds, that are looking to short-sell the stablecoin.
Ardoino alleges that the funds have been creating billions of dollars worth of pressure to disrupt USDT liquidity and are spreading fear, uncertainty and doubt about the token.
