Why Singapore needs to rethink its approach to regulating crypto
Singapore wants to attract institutional capital while shielding its people from crypto — but it can’t have it both ways, writes Donovan Choy.
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India’s Directorate of Enforcement said to question crypto exchanges
The country’s federal agency charged with investigating money laundering and violations of foreign exchange laws has reportedly reached out to Indian crypto exchanges to probe possible violations of foreign exchange rules. See related article: CoinDCX double downs as the going gets tough in India Fast facts The Enforcement Directorate has sought “further details and documents”…
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Most Indian traders impacted by India’s crypto tax: survey
India’s 30% tax on cryptocurrencies, which met with a public outcry, has deterred the trading frequency of 83% traders, according to a survey conducted by crypto exchanges WazirX and ZebPay. See related article: Only the big fish will survive as India cracks the whip on crypto: Binance-backed WazirX Fast facts The survey included 9,500 respondents…
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Crypto’s biggest problem is not volatility, but scalability
Notwithstanding this bear market, Web3’s more pressing issue is its inability to handle large volumes, writes Greg Gopman. Can sidechains offer a solution?
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Polium’s NFT/Web3 game console plan meets with plenty of skepticism
Web 3.0 company Polium’s plan to make the world’s first “multi-chain gaming console” to support games across different blockchains is an ambitious goal that has met a chorus of skepticism. See related article: What is Axie Infinity and how is it ushering in gaming 3.0? Fast facts Polium, a startup that first announced its plans…
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Monthly NFT sales fall below US$1 billion for first time in 12 months
Crypto industry sales are slumping, but it’s not just hedge funds and lenders that have been hit hard by the crypto winter. The NFT industry has also begun to feel the chill.
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Indian crypto trading volume drops as much as 63% after new tax
Trading volume in Indian cryptocurrency exchanges dropped by as much as 63% since July 1, when a 1% tax deducted at source (TDS) was imposed. See related article: India’s latest tax assault on crypto exchanges starts Friday Fast facts Daily trading volume at cryptocurrency exchange WazirX fell more than 63% on July 1 to US$5.36…
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India’s latest tax assault on crypto exchanges starts Friday
India’s government can’t seem to decide on following China with an outright ban on crypto trading. So is it bent instead on suffocating traders and exchanges with taxes?
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Axie Infinity’s Ronin Bridge up and running after months of repairs
Sky Mavis’ Ronin Bridge is back online after one of the largest decentralized finance (DeFi) heists in history prompted a three-month network hiatus, Ronin announced in a Tuesday newsletter. See related article: Are we helpless against attacks on blockchain bridges? Fast facts Ronin Bridge is used by non-fungible token (NFT) game Axie Infinity players to…