US Treasury called for regulation of high-value art in the NFT market

Cryptocurrency NewsBy 07/02/2022

The US Department of the Treasury believes that privacy in the digital art market and simplification of logistics through tokenization will lead to an increase in money laundering through NFTs. The U.S. Treasury Department posted a report based on the Money Laundering Act of 2020, which says that the regulator has found evidence of the involvement of owners of high-value works of art in money laundering. The US Department of the Treasury, based on its…

Nike sued StockX for selling NFTs featuring the brand’s shoes

Cryptocurrency NewsBy 04/02/2022

Sports footwear and apparel manufacturer Nike has sued online reseller StockX for illegally selling non-fungible tokens featuring the brand’s sneakers. According to a lawsuit filed by Nike in New York federal court, Detroit-based online platform StockX began selling these NFTs last month. StockX promised buyers that they would be able to exchange tokens for physical Nike shoes in the near future and sold over 500 NFTs. The branded merchandise maker has claimed that StockX collectible…

IOC released mobile game with rewards in NFT

Cryptocurrency NewsBy 04/02/2022

The International Olympic Committee (IOC) has announced a partnership with game developer nWay to launch the NFT-enabled multiplayer Olympic Games Jam: Beijing 2022. According to CNBC, users can now download the app on their mobile phone, play a variety of sports-inspired games from the Winter Olympics program, and receive special collectible tokens. NFT data can be used to gain new character and equipment levels, as well as “super powers” that allow the character to develop…

The Central Bank of Nepal is exploring the benefits of launching its own digital currency

Cryptocurrency NewsBy 03/02/2022

The Central Bank of Nepal began to explore the possibility of launching its own digital currency, but in the next three years the Central Bank is not going to introduce it into the country’s financial system. Revati Prasad Nepal, Director of the Foreign Exchange Department of Nepal Rastra Bank, announced the creation of a special working group that will explore the benefits and risks of the possible introduction of a state stablecoin. In addition to…

IRS will refund a Tennessee couple’s Tezos staking tax deductions

Cryptocurrency NewsBy 03/02/2022

The Internal Revenue Service (IRS) has recognized that staking profits are not subject to income tax unless denominated in USD and are prepared to reflect this in future tax rules. The U.S. District Court for the Middle District of Tennessee has ruled that the IRS is required to refund the Jarretts the tax credits they paid as Tezos (XTZ) staking income tax. In May 2021, Joshua and Jessica Jarrett filed a lawsuit alleging that the…

DeFy Trends CEO: “Industry Self-Regulation Drives Global Crypto Adoption”

Cryptocurrency NewsBy 02/02/2022

DeFy Trends founder and CEO Imgesu Çetin said that regulatory uncertainty and price volatility is hindering the global adoption of cryptocurrencies. Imgesu Cetin believes that it is vital for the cryptocurrency industry to create effective self-regulation no matter how slow some countries are moving in regulating the industry. In his opinion, regulatory uncertainty, price volatility, concerns about illegal activities all affect the cryptocurrency markets and show why they need to be regulated. The CEO of…

APRA called for the development of regulation of the blockchain and cryptocurrencies

Cryptocurrency NewsBy 02/02/2022

The Australian Prudential Regulation Authority has stated that it is necessary to develop blockchain and cryptocurrency regulation in order to promote innovation and protect the interests of users. Many financial companies are ready to modernize their business processes by introducing blockchain into them and using digital assets. The Australian Prudential Regulatory Authority (APRA) believes that the development of the latest technologies should develop specific guidelines that will allow these organizations to apply innovations without compromising…

Everest platform announced integration with Polygon

Cryptocurrency NewsBy 01/02/2022

Financial services provider Everest will provide Polygon developers and users with access to biometric IDs, eKYC/AML and the $CRDT stablecoin. Integration with Everest should allow developers using Polygon to create DeFi protocols for platforms with native eKYC, fiat conversions, and the Everest $CRDT stablecoin. It becomes possible to customize the use of $CRDT, for example, for placing fiat deposits, or to limit the use to a specific purpose, a specific seller, or a period of…

Court banned the Argentina national football team from cooperation with Binance

Cryptocurrency NewsBy 01/02/2022

Football fan token operator Chiliz has blocked a sponsorship agreement between the Argentine Football Association (AFA) and the Binance exchange in arbitration. The injunction directs AFA to cancel all trades announced or signed with Binance, as AFA previously entered into an exclusive fan token issuance contract with Chiliz-owned platform Socios. The judge who decided on action against AFA considered that the agreement signed with Socios conflicts with the terms of the new contract with Binance.…

Deloitte: More than 50% of Indians are ready to continue investing in cryptocurrencies

Cryptocurrency NewsBy 31/01/2022

According to a Deloitte study, even amid the uncertainty of cryptocurrency regulation in India, more than half of investors are ready to continue investing in cryptocurrencies. Analytical company Deloitte, at the request of the Indian newspaper Times of India, conducted a study during which it polled 1,800 respondents from India about their willingness to invest in cryptocurrencies. The Deloitte report says that more than 50% of those surveyed intend to continue investing in cryptocurrencies, 26.8%…

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