Bitcoin News and Finance: What You Need to Know

An Indian industry association has written to the country’s finance minister seeking clarity on cryptocurrency taxation in Union Budget 2022-23. “The budget should ideally offer coherent rules on direct taxation and the GST Council should detail the applicability of taxation, else there will be confusion.” Industry Wants Clarity in Crypto Tax Laws in Union Budget 2022-23 Indian industry association Indiatech has written to the country’s finance minister, Nirmala Sitharaman, regarding cryptocurrency taxation. The association represents major cryptocurrency exchanges in India, including Coinswitch Kuber, Wazirx, and Coindcx. In its letter, the association asked the finance minister for clarity regarding crypto taxation in Union Budget 2022-23. The industry body also urged the government to amend existing tax laws to include crypto assets. Indiatech’s president and CEO, Rameesh Kailasam, told Ettech: The budget should ideally offer coherent rules on direct taxation and the GST Counc...

Mai Capital Management’s chief equity strategist and regional president, Chris Grisanti, has predicted that this year will be tough for crypto largely due to regulations. However, he expects established cryptocurrencies, such as bitcoin and ether, to “do quite well” once regulations come into focus. Equity Strategist’s Crypto Predictions Mai Capital Management’s Chris Grisanti shared his outlook for the cryptocurrency market in an interview with CNBC Thursday. Grisanti, CFA, is chief equity strategist and regional president of Mai Capital Management, a wealth management firm that provides planning and investment advisory services. Noting that crypto is “almost a victim of its own success,” Grisanti detailed: I think it’s going to be a tougher year for crypto … There will be calls for regulation from all over the place — from China, from Europe, and here in the United States. Nonetheless, the equity strategist sees some cryptocurrencies coming out ahead. “I do think there will b...

Just recently the reality star, American Youtuber, and Tiktoker Stephanie Matto made international headlines after raising $200K from selling her farts contained in mason jars online. After Matto had to go to the hospital and after a doctor told her the farting idea was causing her to get hospitalized, she’s decided to sell her fart jars as non-fungible token (NFT) collectibles. Tiktoker Reveals Fart Jars NFT Collection The Youtuber and Tiktoker Stephanie Matto chose an interesting career choice when she decided to sell her farts in mason jars to paying customers online. The wind-breaking entrepreneur managed to acquire $200,000 for her mason jarred farts, but the idea was taking a physical toll on her body. That’s according to a doctor who told her the farting idea was an issue after Matto was recently hospitalized. In order to be more conscious of her body, Matto is now leaning on blockchain technology to continue her fart-selling career. Matto, the former reality star of TLC’s...

Last month, the lead vocalist of System of a Down, Serj Tankian, hosted an art exhibition with the non-fungible token (NFT) platform and marketplace Curio NFT. The physical and virtual-melded art show was called “Not for Touching” and this week Tankian told Bitcoin.com News that he believes NFT technology has opened new doors for his artistic expression. This week Bitcoin.com News chatted with System of a Down’s (SoaD) lead vocalist, Serj Tankian , about non-fungible token (NFT) tech and how it has given him the ability to express his art in a new way. In December, Tankian and Curio NFT hosted an art exhibition featuring the artist’s NFT artwork called “Not for Touching.” Tankian has been an artist for years, but NFTs has given the SoaD singer a new way “to affect multiple senses simultaneously” and he stressed that he’s always interested in having “a stronger impact artistically.” The following is an in-depth discussion with SoaD’s Serj Tankian that Bitcoin.com News recorded on Ja...

Police in Kosovo seized another batch of over 200 mining devices as part of raids that started on Thursday. The offensive against underground crypto farms was launched after authorities in Pristina banned the power-hungry minting of digital currencies amid an energy crisis in the country. Authorities in Kosovo Confiscate Mining Hardware in Serb Majority North Law enforcement officers in Kosovo have confiscated hundreds of mining machines as part of efforts to curb crypto mining activities in the face of electricity shortages. One person has been arrested in the latest police operation in the predominantly Serb northern part of the country. A statement issued by the Kosovo police revealed that the authorities have seized 272 devices used for the production of cryptocurrency in the municipality of Leposavic, AFP reported. “The whole action took place and ended without incidents,” Interior Minister Xhelal Svecla noted in a post on Facebook. Finance Minister Hekuran Murati also took t...

China’s social media giant, Wechat has said it will support the digital yuan in a move that is expected to increase the of Chinese residents that use the central bank’s digital currency (CBDC). Wechat’s support of the digital yuan potentially avails the digital currency to the social media’s 800 million active users. New App Provides Access to CBDC Wechat, one of China’s biggest messaging and payment apps, is reportedly set to support the digital yuan, China’s CBDC. The addition of the CBDC to the social platform is expected to boost the adoption rate of the digital yuan. The messaging giant’s decision to support the CBDC comes shortly after the central bank’s launch of the e-cny app that gives users in certain Chinese regions and cities access to the digital yuan. However, as the report in the Coinrivet notes, Wechat’s announcement, as well as the inclusion of Alibaba’s Alipay in the digital currency’s ecosystem, suggests that the e-cny app alone may not achieve the central bank...

PRESS RELEASE. Chicago, IL – 9th January, 2022 – Denjary Watru , the creator of the Game On NFT has dropped an NFT that is sure to become highly sought after by all those who know and understand Bitcoin, its implications for society going forward, and who have an appreciation for the value of digital art. According to Denjary, the inspiration for the Game On NFT happened during his routine treadmill workout and while talking on the phone to a friend, attempting to explain Bitcoin. Surrounded by sports themed pictures on the walls of the exercise area of his home, he had the thought of using a football metaphor to help his friend (who loves football) to better understand Bitcoin. At the end of the call, when the friend said the metaphor had really helped him to get it, Denjary went to his desk and began sketching some of the ideas expressed during the call. Eleven months later, after assembling a team of creatives, the Game On NFT was born. The artwork is titled Game On because...

The government in Turkey does not intend to impose a 40-percent levy on crypto-related gains as has been alleged, members of the ruling AKP party have indicated to the local press. They have also emphasized that the current regulatory efforts are aimed at creating a sustainable environment for the blockchain industry. Turkey to Establish Regulatory Base for Cryptocurrency Market A legislative proposal tailored to regulate cryptocurrency trade in Turkey is likely to be submitted to the parliament in the upcoming weeks. Sources from the Justice and Development Party (AKP), the country’s ruling political force, have “strongly denied” allegations that authorities in Ankara are going to tax cryptocurrency gains at a rate of 40%, the Turkish newspaper Hürriyet reported. One of the AKP representatives, the deputy leader of the party’s parliamentary group Mustafa Elitaş, commented on social media last month that the new law will serve to regulate Turkey’s crypto system, while “preventing ...