Loading...
The biggest crypto news and ideas of the day Dec. 27, 2021 If you were forwarded this newsletter and would like to receive it, sign up here. Sponsored by Welcome to The Node.
Questions? Feedback? We'd love to hear from you! Simply reply to this email.
Today’s must-reads Top Shelf PROHIBITIVE TAX? Crypto companies in Japan have implored authorities to change tax policies that some say are driving them out of the country. On Dec. 10, Japan’s ruling coalition approved a tax plan for the 2022 fiscal year that continues to treat token listings, airdrops and treasuries as taxable. Crypto startups, faced with a tax rate as high as 35% or potential taxes even if assets aren’t sold, are leaving the country, CoinDesk Lavender Au and Eliza Gkritsi report.
METAVERSE MENTIONS: Kraken is developing a marketplace for non-fungible tokens (NFTs) where users can arrange loans using the tokens as collateral, CEO Jesse Powell told Bloomberg. Although competing exchanges Coinbase and FTX have also moved into NFTs, NFT-backed loans are somewhat more novel. Elsewhere in the metaverse, PwC Hong Kong bought LAND in The Sandbox. The virtual real estate platform welcomed just 4,500 unique addresses in the past 30 days, according to DappRadar.
PROPOSED BANS: Amid ongoing economic experimentation, soaring inflation and growing bitcoin use, Turkey President Recep Tayyip Erdoğan will send a crypto law to the country’s parliament, two publications reported Friday. In April, Turkey’s central bank said it was banning the use of cryptocurrency for payments, although it remains legal to hold crypto in the country. Separately, an influential economic group tied to India’s ruling party has called for a ban on “private” digital currencies and the development of a central bank digital currency (CBDC). In the U.S., Sen. Cynthia Lummis (R-Wyo.) will pitch Congress next year on creating a self-regulatory body for crypto as part of her sweeping digital asset policy bill.
MINING BUMP: Marathon Digital is purchasing a record number of bitcoin miners from Bitmain. The publicly traded firm did not disclose a total but claimed that in terms of exahashes per second (EX/s) the new machines will generate, the deal was the largest single order of Antminer S19 XP bitcoin miners, part of its plan to have 199,000 operational miners by 2023 (reportedly to bump its hashrate by 600%).
BLOCKCHAIN DEVELOPMENT: Cardano founder Charles Hoskinson said “a formal open-source project structure” similar to Hyperledger to Linux to help steer blockchain development is in the cards for 2022. He is also pursuing “end-to-end microfinance” capabilities and a native web wallet for the $50 billion blockchain, in a year-end video shot from Boulder, Colo. Separately, ERC-20 tokens have come to Dfinity’s Internet Computer with its new cross-chain bridge to Ethereum. Finally, in a reversal, Telegram CEO Pavel Durov has put its weight behind Toncoin, one of two blockchains that came out of the demise of the $1.7 billion TON blockchain targeted by the U.S. Securities and Exchange Commission in 2020.
A message from Nexo When it comes to buying, borrowing or earning on your crypto, you won’t find and easier, safer way to do it than Nexo.
And here’s what’ll happen next: you and your referrals will both get $25 in BTC within 30 days of them passing Advanced Verification and topping up the equivalent of $100 or more of any asset supported on the Nexo platform.
There’s no limit on the number of people you can refer, so invite as many friends as you’d like!
What others are writing... Off-Chain Signals OpenDAO airdropped SOS tokens for OpenSea on Christmas Eve (Decrypt) 'A really happy accident': MoonPay boss sheds light on how the startup is shepherding big-ticket NFT purchases (The Block) Centralized crypto exchanges saw over $14 trillion in trading volume this year (The Block Turkish unit of crypto exchange Binance fined, news agency says (Reuters) Crypto assets inspire new brand of collectivism beyond finance (Financial Times) Bedford Football Club’s manager and assistant manager have quit just days after Bitcoin podcaster Peter McCormack bought the 10th-division club (Protos) Crypto influencer Colbie writes about valuation metrics, token unlocks and scamonomics (Substack)
A message from Horizen Happy Holidays from the Horizen Team! Join our holiday giveaway to win some $ZEN!
Horizen is the zero-knowledge network of blockchains powered by the largest and most decentralized node system. Its blockchain deployment protocol, Zendoo, is live on mainnet as of Dec. 1st, 2021!
Zendoo enables developers and businesses to deploy private and public blockchains with unmet scalability, flexibility, and throughput to support any real-world needs.
Sponsored Content
Coinbase: Building a Secure Crypto Infrastructure for Institutional Investors
As the largest publicly traded cryptocurrency exchange in the U.S., Coinbase often serves as a bridge for institutional investors between traditional finance and the world of digital assets. And with the launch of its prime brokerage, Coinbase now has an integrated product that provides institutional investors with a suite of services including trading, analytics and secure custody.
Using the same regulatory, compliance, insurance, and security practices and standards that leading banks follow as its starting point, Coinbase then invests heavily in adapting and strengthening them so they’re tailored to the unique aspects of digital assets.
The Chaser...
The Node A newsletter from CoinDesk Were you forwarded this newsletter? Sign up here. Copyright © 2021 CoinDesk, All rights reserved. 250 Park Avenue South New York, NY 10003, USA Manage your newsletter subscriptions | Unsubscribe from all CoinDesk email |
Loading...
Loading...