South Korea’s Financial Services Commission, or FSC, announced Tuesday that nonfungible tokens, or NFTs, will be taxed starting next year. According to The Korea Herald, this tax law amendment would impose a 20% tax on income from virtual assets that exceed 2.5 million won ($2,102) as of Jan. 1, 2022. The FSC’s vice chairman Doh Kyu-sang specified that only some…
El Salvador is positioning itself to be the Bitcoin capital of the world. At the weekend, the country’s eccentric president, Nayib Bukele, announced plans to build a “Bitcoin City”—a tax-free paradise for Bitcoin bros the world over, powered by a volcano and funded by Bitcoin-backed bonds. Though just how easy is it to spend the biggest and most famous digital…
Watch This Episode On YouTube Listen To This Episode: In this episode of “The Bitcoin Magazine Podcast,” host Christian Keroles was joined by Bitcoin entrepreneur and founder and CEO of Coinfloor, Obi Nwosu. Nwosu found out about Bitcoin via an email in 2011, and has been building in the Bitcoin space since 2013 when he created Coinfloor, the longest-running U.K.-based…
U.S. football Star Odell Beckham Jr. is taking his new salary in bitcoin and is giving away $1 million in the cryptocurrency in partnership with Square’s Cash App. “To all my fans out there … I’m giving back a total of $1M in BTC right now,” he wrote. Football Star Odell Beckham Jr. Will Take His New Salary in Bitcoin…
In an event streamed live on Wednesday, Bank of England governor Andrew Bailey and deputy governor for financial stability Sir Jon Cunliffe answered questions from lawmakers from the Economic Affairs Committee. When asked about the growth of innovation surrounding digital currencies in the country, Sir Cunliffe gave the following comment: “It’s quite difficult to predict how innovators will take money and…
Joe Longo, chair of the Australian Securities and Investments Commission, or ASIC, spoke at the Australian Financial Review Super and Wealth Summit on Monday at the Fullerton Hotel in Sydney. The rise of crypto, he said, has been “nothing short of phenomenal, and impossible to ignore.” As a corporate and markets regulator, Longo admitted to a certain fascination with decentralized…
After five days of uncertainty, the decentralized autonomous organization ConstitutionDAO announced today it will be shutting down operations, turning its Discord community to read-only and leaving its Juicebox funding portal open only for contributors to claim refunds. “We believe this project has run its course,” the ConstitutionDAO website now states. The DAO was formed earlier this month with the goal…
Many Bitcoiners have highlighted parallels between some of Bitcoin’s ideals and the book first published in 1997, “The Sovereign Individual.” To take you in an altogether different direction, I’ll draw attention to a relatively unknown and gentler text, which I’ve noticed also contains a number of parallels to the Bitcoin world. This is “How To Be Idle,” written by Tom…
In a statement released to customers on Tuesday, Israeli cryptocurrency exchange eToro announced it would delist Cardano (ADA) and Tro (TRX) for U.S. customers by the end of the year. After Dec. 31, U.S. users will no longer be able to open new positions in the tokens nor stake ADA and TRX. In addition, wallets will be effectively in withdraw-only mode…
Sure, the NFT market has been called a bubble. But now Macy’s has brought balloons to the party, adding more hot air to the gaggle of corporate brands minting NFTs. The department store behind the eponymous Thanksgiving Day Parade in New York is giving away 9,500 Ethereum NFTs to celebrate its 95th year of presenting the event. Ten “ultra rare”…
