Month: October 2024

The Arbitrum Foundation has announced its Road to Devcon initiative as it “doubles down” on Asia’s potential for rapid growth. Pointing to factors including the region’s burgeoning developer community and increasing rates of retail crypto adoption, the Foundation announced a three-pronged campaign ahead of Devcon 2024 in Bangkok. A pair of face-to-face ArbiLink events in Vietnam and Indonesia will provide…

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The United Arab Emirates has introduced VAT amendments that impact crypto transactions, redefining tax obligations for companies in the digital asset space. Under the new rules, businesses dealing with cryptocurrencies and other digital assets must carefully evaluate their tax positions, especially as some provisions retroactively affect transactions since 2018. UAE’s VAT Amendments Introduce Retroactive Tax […] Source: https://news.bitcoin.com/uae-introduces-retroactive-vat-exemptions-for-crypto-transactions/

The Australian Federal Police have taken a major step against organized crime by seizing $9.3 million in cryptocurrency. The operation uncovered a secret encrypted communication platform, Ghost, leading to the arrest of its alleged mastermind. Through digital forensics, authorities cracked the suspect’s crypto accounts. With previous operations yielding millions in seized assets, the ongoing investigation […] Source: https://news.bitcoin.com/australian-police-seize-9-3m-in-crypto-bust-mastermind-behind-ghost-platform/

Swift will begin live trials for digital asset and currency transactions in 2025, engaging banks across North America, Europe, and Asia in a major step toward real-world applications. By leveraging its existing network, Swift aims to merge digital and traditional assets, addressing the challenges of disconnected platforms. The trials build on successful blockchain experiments, seeking […] Source: https://news.bitcoin.com/swift-to-pilot-digital-asset-and-currency-transactions-in-2025/

Analysts believe that, in the future, outflows derived from cryptocurrency purchases could affect the domestic exchange rate in Brazil. The Central Bank of Brazil indicates that crypto assets and recreational services account for $14.7 billion that flowed out of Brazil through August, hinting at the use of virtual assets as payment tools. Cryptocurrency Outflows Dangerous […] Source: https://news.bitcoin.com/experts-fear-cryptocurrency-outflows-may-affect-exchange-rates-in-brazil/

Ethereum and Bitcoin, two of the world’s largest blockchains, are facing significant challenges in scaling their networks. As more users and transactions move to layer two (L2) solutions, these systems could undermine the security and sustainability of the base layer (L1), with fees and rewards for miners and validators dwindling. Growing L2 Adoption Raises Concerns […] Source: https://news.bitcoin.com/l2-scaling-challenges-may-undermine-ethereum-and-bitcoins-long-term-security/

In the latest episode of Regina’s Web3 Gaming Odyssey, she dives headfirst into Nifty Island—a metaverse brimming with customizable islands, NFT integration, and social interaction. Last week’s quick recap Last episode’s livestreamed game showcased Spellborne’s side quests. After delving into Spellborne’s side quests, I also shared my personal insights and explored the game’s tokenomics. Want […] Source: https://news.bitcoin.com/discovering-the-creator-driven-world-of-nifty-island/