Category Archives: POLITICS

POLITICS

Joe Biden cryptocurrency law negatively impacted the crypto industry

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The crypto money bill that Joe Biden signed includes some changes, these changes are as follows.

“Aims to review structuring rules for information reporting requirements and other purposes applied to brokers regarding digital assets. Under current law, those engaged in digital asset mining, staking, digital asset hardware, providing software wallets or developing digital asset protocols may fall under the definition of ‘broker’ and may be subject to certain taxes.
“It will separate miners, stakers, wallet providers, developers and digital asset brokers from investors and allow brokers to report to the IRS.”

Currently, section 80603 of the law says:
“Return Requirement for Certain Transfers of Digital Assets Not Subject to Other Reporting.
Any broker (that is not part of a sale or exchange conducted by that broker) for one year in connection with, or known to, any transfer of security covered as a digital asset from an account held by that broker to an account not held by that broker. or an address unknown to a person who has reason to know is also a broker, in a manner to be determined by the Secretary for the calendar year in question, showing the information otherwise required.

Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility.

POLITICS

The country that calls cryptocurrencies Haram, Sharia and Crypto

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The Indonesian Ulema Council has considered cryptocurrencies haram. They say that the reason why they consider cryptos haram is that cryptos are harmful and contain uncertainties.

The Ulema Council announced at its meeting this week that crypto money is haram because it resembles gambling. They said cryptocurrencies can be bought and sold as commodities if they provide a benefit and comply with Sharia.

More than 200 million Muslims live in Indonesia and it is the largest Muslim country in the world. We are sure that the Ulema Council will definitely change their minds one day.

According to the news from Bloomberg; The statement made by the Ulema Council stated that it does not impose an official restriction on the use of cryptocurrencies. Despite being considered haram, there are an estimated 4.45 million crypto money investors and a crypto currency transaction volume of approximately $ 8.8 billion in the country.

Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility.

POLITICS

India’s Paytm Company May Launch Bitcoin If Government Legalizes Crypto

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Paytm, India’s major digital payments company, may consider adding Bitcoin trading to its offerings if it is approved with crypto in India. According to a report from Bloomberg, Paytm has expressed interest in adding Bitcoin trading to the platform. However, the government needs to clarify regulations regarding cryptocurrencies before considering doing so.

“Bitcoin is still in a regulatory gray area, if not a regulatory ban in India,” Madhur Deora, the company’s Chief Financial Officer, told Bloomberg TV in an interview. Over the past few years, the Indian government has repeatedly changed its stance on crypto, confusing investors with the regulatory rules surrounding it.

The Indian government’s indecision about cryptos is negatively affecting all crypto investors in India. We hope the Indian government will now pass a positive law.

Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility.

POLITICS

New York mayor Eric Adams says he will receive his first three paychecks in bitcoin

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Eric Adams, the new mayor of New York City, is a Bitcoin-loving mayor. By using the blockchain-based structure in New York City, it is preparing for the future before other cities.

Miami Mayor Francis Suarez has taken important steps to incorporate crypto into his governance, including the use of the CityCoins protocol in Miami. He tweeted that he plans to receive his next paycheck in “100% bitcoin”.

New York City Mayor-Elect Eric Adams said he will receive his first three paychecks in cryptocurrency so he doesn’t get left behind. “We always get big in New York, so when I become mayor I will get my first THREE paychecks in Bitcoin. NYC will be the hub of the cryptocurrency industry and other fast-growing, innovative industries! Wait!” he said in a tweet.

Eric-Adams-tweet

Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility.

POLITICS

Cryptocurrency purchase limits for local retail investors in Kazakhstan

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Kazakhstan has limited the amount of money local retail investors can put in crypto, Kazakhstan global news site kapital.kz reported on Wednesday.

Retail investors can invest 10% of their annual income or 5% of their total assets up to $100,000 per year, excluding their main residence, as long as they can prove their finances to the regulator, capital.kz reported.

Investors can invest up to $1,000 per month if they don’t provide any proof of their financing, according to Kapital.kz, which says it has obtained information directly from the Astana Financial Services Agency (AFSA).

AFSA was not available for comment at the time of publication.

Limits have been introduced to protect retail investors from crypto-related “high risks,” which could include a complete loss of capital, AFSA told kapital.kz.

AFSA has also created a roadmap to develop the crypto market in the country. According to the plan, crypto exchanges will operate as pilots for a year from the end of 2021.

According to the report, the rules set by AFSA went into effect on October 26.

According to capital.kz, the agreed rules are more stringent than those previously proposed by the Astana International Financial Center (AIFC). An AIFC committee suggested a monthly limit of $2,000 for retail investors.

Kazakhstan has seen a massive influx of crypto miners since China began a crackdown on the crypto mining industry in May. The country faces severe power outages, partly due to the influx of miners, and plans to limit the electricity consumption of new mines.

source: www.kapital.kz

Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility.

POLITICS

Eric Adams, New York will be the center of Bitcoins

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Saying “New York will be the center of Bitcoins” and supporting Bitcoin, Eric Adams became the new mayor of New York. America may come a new city that supports Bitcoin.

The nominee for the Democratic wing, former police officer and Bitcoin lover Eric Adams, has become mayor of York. Eric Adams, who received about 66 percent of the vote, won another Bitcoin-friendly city in the USA after Miami.

In his speech, 61-year-old mayor Eric Adams said, “I promise New Yorkers. When I’m elected president, you’ll see another city. “This will be the hub of science, cybersecurity, self-driving cars, drones and Bitcoins.”

Photo: nytimes.com

Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individua

POLITICS

African Rhino Conservation Foundation to Raise Aid Via NFT

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Black Rock Rhino, a South African rhino conservation organization, is preparing to raise funds for endangered species with an NFT auction. Together with the rhino protection foundation and blockchain technology firm Virtual Nation Builders, where more than 200 rhinos are protected, they plan to auction their NFTs in Momint, one of South Africa’s largest NFT markets.

The proceeds from the auction on November 11 will be used to pay for daily expenses related to the foundation, the Black Rock Rhino association explained. The statement reads: “The net income will go towards securing the area, feeding, vaccinations, animal welfare and other day-to-day operating expenses.”

Although rhino horns are prohibited, they are traded for $25,000. Black Rock Rhino officials believe digital horn NFTs will generate more returns. In this way, they try to prevent rhinos from being killed for their horns.

Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individua

POLITICS

SEC will not lead the regulation of stablecoins

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The SEC’s monopoly over control of the “systematically important” stablecoin industry was denied. On November 1, the US President’s Financial Markets Working Group (PWG) released its highly anticipated report (Download Report PDF) and policy recommendations for stablecoins. The report focuses on the risks that “payment stablecoins” – or those designed to provide stable value against a reference fiat currency – can pose to users and financial stability.

An important message from PWG is that, although the use of stablecoins is currently largely limited to simplifying digital asset transactions, under certain circumstances this asset class could become much more prevalent in retail, necessitating the adoption by congress of a comprehensive federal prudential regulation system.

The PWG consists of the leaders of the Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC), and the Federal Reserve and is led by the Secretary of the Treasury Department. The Federal Deposit Insurance Corporation (FDIC) and the Office of the Currency Controller (OCC) also contributed to the preparation of the interagency report. With such a large concentration of federal financial regulators, the results of their joint efforts were expected to provide a credible indication of the current administration’s stance on stablecoin regulation. Anonymous reports that surfaced shortly before the document was released claimed that the group had agreed to a plan to hand over significant power over stable tokens to the SEC. This further increased tensions around the interagency report.

The prospect of the SEC taking the lead in regulating the stablecoin is not encouraging for some players in the crypto space. K. Neil Gray, a partner at law firm Duane Morris, said before the report was released:

“Industry participants probably perceive the SEC’s desire to take a position in this space as another example of the SEC’s over-spreading in the cryptocurrency space and fear that the SEC will regulate stablecoins by enforcement rather than rule.”

Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individua

POLITICS

The much-anticipated Fed announces its interest rate decision

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With its decision, the FED (US Federal Reserve) did not change the policy rate and kept it constant in the range of 0-0.25 percent. The Fed decided to reduce its asset purchase rate by $15 billion per month.

The FED (US Federal Reserve) stated that it will slow down its asset purchases and decided to reduce the asset purchase rate to 15 billion dollars per month.

It will purchase $60 billion of treasury paper and $30 billion of mortgage-backed securities in December.

Of course, this decision will cause changes in the monetary values of countries and cryptocurrencies.

Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individua

POLITICS

Australia looks positively on crypto ETFs

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The new guidance provided by the Australian Securities and Investment Commission (ASIC) approves the creation of ETFs that invest directly in cryptocurrencies, as well as indirectly, such as mining pools and crypto exchanges.

The guidelines provided by ASIC came after the successful opening of two Bitcoin (BTC) ETFs from ProShares and Grayscale in the US last week.

Until recently, crypto regulation in Australia was behind the curve. Last week, Liberal Senator Andrew Bragg released a report saying “If Australia can create a forward-looking environment, the potential economic opportunities are huge” for new and emerging digital asset products.

“It is clear that Australia needs a robust policy and regulatory framework for digital assets to protect consumers, encourage investment in Australia and enable enhanced market competition,” he said.

The crypto industry is already booming in Australia. According to a recent survey, 17% of the population has already invested in cryptocurrencies, while another 13% said they plan to buy crypto within a year. With ASICs ETF guidelines, this number is likely to increase even more.

source: yahoo (Elliot Shirnia)

Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility.