India needs to make up its mind over crypto
Although India hoped that taxation would be a step toward regulation rather than a ban, the high tax rates and proposed rules seem to be geared toward dissuading crypto trading.
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CCTV NFTs hit resale market before transfer permitted
Non-fungible tokens (NFTs), or digital collectibles, issued by China Central Television (CCTV), the nation’s largest state-owned broadcast media, are appearing in China’s largest online second-hand market for at least 10 times the original price in a pre-sale bid, even before trade embargoes on the assets have lifted. See related article: China’s mouthpiece newspaper is giving…
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BIT Mining ditches Kazakh data center due to rocky power supply
BIT Mining, a Hong Kong-headquartered cryptocurrency miner, has terminated its data center construction in Kazakhstan due to an unstable local power supply, the company said in its quarterly report. See related article: Crypto mining’s Great Migration continues — out of Kazakhstan Fast facts BIT Mining now abandons a US$9.3 million pledge to a Kazakh data…
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Circle’s growth outpaces Tether as it doubles valuation
Circle’s USDC, the world’s second-largest stablecoin, is gunning for the title of the world’s top stablecoin as it closes in on Tether’s market capitalization after doubling its valuation to US$9 billion in a revised merger deal. See related article: Stablecoin issuer Circle to go public in US$4.5B SPAC deal Fast facts USDC’s market cap has…
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Buyers snap up Olympics panda NFTs
Animoca Brand’s nWayPlay sold out second batch of Bing Dwen Dwen mascot NFTs on Thursday as prices of first set fetched 900% in average resale value.
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Crypto market rebound is short-lived as Russia tensions loom
Investor relief at last week’s slight market rebound gave way to concerns over military tensions in Ukraine, sending crypto and traditional markets reeling.
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Israel added to Binance’s list of global regulatory trouble spots
Israel’s capital market watchdog is asking major cryptocurrency exchange Binance for clarifications on its services in the country and licenses under which it operates, local media reported Thursday. See related article: Binance US under probe for ties with trading affiliates: report Fast facts Binance has stopped all Israel-focused activities and marketing, the Globes reported, citing…
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Bitcoin leads market-wide downturn as Russia fears rise
Bitcoin led a market-wide sell-off Thursday night Asia time by losing almost 8% coming into business hours Friday Asia time, and was trading at US$40,578 at press time. See related article: Is Bitcoin’s rocky start to 2022 a sign of things to come? Fast facts All other major tokens were down around the same amount,…