US Senator Introduces Bill to Ban Direct-to-Consumer Central Bank Digital Currency
U.S. Senator Ted Cruz has introduced “legislation to prohibit the Federal Reserve from developing a…
US Senator Introduces Bill to Ban Direct-to-Consumer Central Bank Digital Currency
U.S. Senator Ted Cruz has introduced “legislation to prohibit the Federal Reserve from developing a direct-to-consumer” central bank digital currency (CBDC). The lawmaker warned that it “could be used as a financial surveillance tool by the federal government.” Another senator stressed: “The American people ought to be able to spend their money how they choose…
Web 3.0 Does Have UI/UX Problems
Web 3.0’s UI/UX has been a source of concern to many crypto natives for years now. User interface (UI) and user experience (UX) in this context are the features that determine how satisfied users are with the apps they use. In contrast to Web 3.0 dApps, Web 2.0 companies like Google, Alphabet, and Microsoft spend…
Liquid Staking: The Ultimate Guide
Liquid staking is a method of turning illiquid-staked assets into liquid assets. This means that liquid staking gives these assets value while providing the same benefits as staking. The main benefit of liquid staking is that it frees up assets that would have otherwise been locked. However, this benefit comes with some risks. These risks…
Best Cryptocurrency Tax Software: Complete Guide to the Top Options
The rise of the cryptocurrency industry, alongside the high profits that people can earn through the purchase, trade, and investment of digital currencies have encouraged governments throughout the world to update their taxation policies, in order to take crypto-based profits into account. However, cryptocurrencies are very dynamic, whereas keeping track of all transactions for taxation…
UK think tank launches a crusade against ‘surveillance’ CBDCs
The Bank of England’s plans for a CBDC launch raises concern among UK Tax Reform Council and the broader Bitcoin community. The U.K. Tax Reform Council has launched a campaign against the Bank of England’s plan to introduce a central bank digital currency (CBDC). The non-profit organization warns that such a move could seriously harm…
Brazilians Will Be Able to Pay Taxes With Crypto
Brazilians will now be able to pay part of their state taxes using cryptocurrencies. Banco do Brazil, a mixed ownership bank, is launching the option of paying a set of taxes with crypto, using Bitfy, a Brazilian cryptocurrency startup, as a payment processor, exchanging the cryptocurrencies paid for Brazilian reals on the fly. Brazilians Will…
5 key features of machine learning
Machine learning is based on the idea that a system can learn to perform a task without being explicitly programmed. Machine learning has a wide range of applications in the finance, healthcare, marketing and transportation industries. It is used to analyze and process large amounts of data, make predictions, and automate decision-making processes, among other…
UAE central bank to issue CBDC as part of its financial transformation program
The issuance of a CBDC aims to address inefficiencies in cross-border payments and drive innovation for domestic payments. The Central Bank of the United Arab Emirates (CBUAE) is planning to launch a central bank digital currency (CBDC) for cross-border and domestic use as part of the first of its newly-launched financial infrastructure transformation (FIT) program. …
New York Regulator Reportedly Stops Paxos From Issuing BUSD, but is it Just FUD?
The world’s largest crypto exchange has reportedly admitted that the New York Department of Financial Services has ordered Paxos to stop issuing the Binance USD (BUSD) stablecoin. BUSD is the seventh-largest cryptocurrency, with a market cap of over $16 billion. “Paxos has informed us that they have been directed to cease minting new BUSD by…
Income Tax Applies to Crypto Trading in Bosnia, Tax Administration Says
Individuals are expected to pay income tax on gains from cryptocurrency trading, the tax authority of Bosnia has determined. In the absence of dedicated regulations, the federal government in Sarajevo has set up a working group to assess various risks associated with digital assets. Income Tax Is Due on Profits From Crypto Trades, Bosnia Tax…
