On Jan 16, 2020, the parent company of K-pop sensation girl band Mamamoo revealed that it would release non-fungible tokens (NFT) on Hong Kong-based exchange Xeno. K-pop Merch Going Digital The move by RBW (Rainbowbridge World), a South Korean entertainment company that represents top K-pop bands, will enable music fans…
Cryptocurrency exchange and custodian Gemini has plans to sub-custody a Bitcoin ETF in Canada, which was filed on Jan 11. The filing was done by Arxnovum, a Canadian investment firm, and if approved, will be listed on the Toronto Stock Exchange under the ticker “BIT.U.” Bitcoin ETF Still Needs to…
Vonovia, a top real estate company in Europe that’s part of the DAX 30, is issuing a €20 million digital bond on the Stellar Blockchain in partnership with Firstwire and Bitbond, a press release on Jan 13 reveals. It comes less than three weeks after the German cabinet made into…
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by
Evan Ezquer
on
January 13, 2021 Regulation
On Jan 8, two legislators in Kentucky have recently submitted a bill that aims to make the US state a very attractive option for cryptocurrency miners in the form of tax breaks.
Kentucky Crypto Mining Bill
The proposal was submitted to the General Assembly, which would see Bitcoin and other cryptocurrency miners enjoy some tax exemptions. The legislators of the bill are Republican lawmakers, Steven Rudy and Chris Freeland, who referred to the bill as:
“AN Act relating to the taxation of the commercial mining of cryptocurrency.”
The thirteen-page document would see miners enjoy 6% sales taxes and 6% excise tax exemptions on tangible personal mining property being directly used, as well as electricity being consumed, for the purpose of mining cryptocurrency commercially. Additional leverage would also be added for these miners especially when it comes to power and energy use.
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Anthonia Isichei
on
January 13, 2021 Bitcoin
Christine Lagarde, the President of the European Central Bank (ECB), has said that there was a need for global regulation of bitcoin, as a unified cryptocurrency regulation would serve as a better alternative to cover any loopholes.
Global-Regulation Necessary for Bitcoin
Speaking in an interview at the Reuters Next conference on Wednesday (Jan.13, 2021), the ECB president noted that bitcoin has been used for illegal activities such as money laundering. Lagarde also made a comment on bitcoin’s price volatility, calling the number one cryptocurrency a speculative asset.
In terms of the regulation of bitcoin and other crypto assets, Lagarde said that the effort should be global. An excerpt from the interview reads: