Australian Tax Office warns: taxpayers on the hook for crypto tax earnings
Officials are concerned that many investors may not be aware crypto trading is taxed in a similar way to share trading.
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Singapore’s UOB and ADDX exchange partner on US$37 million sustainability-linked digital bond
Singapore’s United Overseas Bank (UOB) and digital securities exchange ADDX today announced the digitization of a S$50 million (US$37 million) sustainability-linked bond using blockchain and smart contract technology. Fast facts The bond allocation was part of a S$675 million (US$496 million) sustainability-linked bond issued on Sept. 29 by Singapore-based energy provider Sembcorp Industries, through its…
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Ripple partners with Qatar’s largest bank to improve cross-border payments
Blockchain payments company Ripple has partnered with Qatar National Bank (QNB) to improve cross-border payments and launch a new remittance platform, Ripple announced on Tuesday. Fast facts QNB will pilot RippleNet, a network of banks and other payment companies developed using Ripple’s technology, with QNB Finansbank in Turkey as part of a group rollout, the…
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Bitcoin mining difficulty rose to the hardest since June
Bitcoin miners saw another mining difficulty adjustment on Tuesday, with an increase of 4.71%, according to data from BTC.com. Fast facts The mining difficulty level is now at 19.89 trillion at block height 703,584, reflecting the most difficult level since a previous adjustment on June 14, the data show. The latest increase follows five increases after four…
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Kazakhstan, hotbed for crypto mining, mulls restrictions amid power shortages
Xive co-founder says its one mining farm in the south of the Central Asian nation has been forced to disconnect from the grid.
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Top South Korean exchange accused of listing faulty tokens for fees
A lawmaker claims Upbit earned hundreds of millions by listing sketchy cryptocurrencies, while the exchange rebuts that it follows fair and strict standards.
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Bitcoin price crosses $50K, but market dominance continues falling
This is the second time the world’s largest cryptocurrency has hit the mark in recent months. Does that mean this price point is here to stay?
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U.S. Bank launches Bitcoin custody service as more banks enter crypto realm
U.S. Bank, the country’s fifth-largest retail bank, will now offer custody services for cryptocurrencies, starting with Bitcoin, the bank announced on Tuesday. New York Digital Investment Group, a fintech firm dedicated to Bitcoin, is the first crypto sub-custodian in the bank’s network of providers, the statement said. Fast facts The services are geared toward institutional…
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Global bodies propose regulatory standards and greater oversight for stablecoins
The Bank for International Settlements (BIS) Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (IOSCO) today published a joint report proposing that international standards for payment, clearing and settlement systems should be applied to “systemically important stablecoin arrangements.” Fast facts The BIS, CPMI and IOSCO report comes amid the…