Bitcoin News and Finance: What You Need to Know

The global crypto community has actively supported humanitarian efforts in Ukraine and two crypto exchanges are also looking to help Ukrainian refugees abroad. Binance, the largest coin trading platform, and the Ukrainian Whitebit have turned their attention to the Ukrainians who had to leave their country as a result of Russia’s invasion. Binance to Launch Charity Crypto Card for Ukrainian Citizens Escaping Conflict The world’s leading cryptocurrency exchange, Binance, will launch a “charity crypto card” this month for those who have been forced to leave Ukraine and need help, Ukraine’s Minister of Digital Transformation Mykhailo Fedorov announced on Telegram, following a conversation with the company’s CEO Changpeng Zhao. “This is an important support for our citizens during the war,” the government official stated, quoted by the crypto news outlet Forklog. He noted that the exchange continues to work with his department on cryptocurrency adoption and plans to support educationa...

Left your crypto taxes until the last second? Here’s how to get your crypto taxes done by April 18 with the least amount of friction possible. The IRS has been really clear that cryptocurrency is definitely taxed – and that they’re able to track crypto investments through various channels. In brief, crypto is subject to Capital Gains Tax and sometimes Income Tax. You’ll pay long-term Capital Gains Tax between 0% to 20% or you’ll pay short-term Capital Gains Tax or Income Tax between 10% to 37%, depending on your Income Tax bracket. Let’s just cut to the chase with what you need to do to report your crypto tax by April 18. Get a comprehensive view of all your crypto dealings, from every exchange – and the very beginning of your trading journey. Aggregate your complete trading history into a single chronological record – and in US dollar terms. Identify your capital gains and separate the total into long-term and short term gains. Identify your income from crypto. You can file...

Britain’s top financial regulator, the Financial Conduct Authority (FCA), has allowed five crypto firms to continue to operate in the U.K. with temporary registration. The deadline for crypto firms to register with the FCA was last week but these five firms’ applications are still pending. Five Crypto Firms Can Continue to Operate in the UK With Temporary Registration The U.K. Financial Conduct Authority (FCA) updated its list of crypto asset firms with temporary registration Thursday. There are now five firms on the list: Cex.io Ltd., Copper Technologies (UK) Ltd., Globalblock Ltd., Revolut Ltd., and Moneybrain Ltd. At the end of March, the British financial regulator said that it extended the registration deadline for some crypto firms to meet its regulatory requirements. At that time, there were 12 firms on the temporary registration list. Companies that are not on the latest list cannot continue to operate after April 1. The financial regulator has registered 33 firms altoge...

The third-richest billionaire in Mexico, Ricardo Salinas Pliego, has shared his experience of living through hyperinflation. He warned that the U.S. and several other civilized countries are “going exactly the same route” his country went through in the 1980s. Mexican Billionaire Warns About Inflation Mexico’s third-richest billionaire, Ricardo Salinas Pliego, gave some advice Thursday regarding inflation, hyperinflation, bitcoin, and fiat currencies at the Bitcoin 2022 conference in Miami, Florida. Salinas is the founder and chairman of Grupo Salinas, a group of companies with interests in telecommunications, media, financial services, and retail stores. According to Forbes’ list of billionaires, his net worth is about $13 billion currently. The billionaire began by sharing his own experience living with inflation. “I was making $2,000 in 1980 and a few years later I was making 20 bucks — the same salary was down from 2,000 to 20 bucks,” he said, adding: So I know about hyperin...

Tesla and Spacex CEO Elon Musk has suggested making the meme cryptocurrency dogecoin (DOGE) a payment option for the Twitter Blue subscription service. Musk is now Twitter’s biggest shareholder. He recently joined the social media giant’s board of directors and promised to bring “significant improvement” to Twitter. Elon Musk Suggests Allowing Payments in Dogecoin Elon Musk, the CEO of Tesla and Spacex, has actively been engaging Twitter’s users regarding potential improvements to the social media platform since he took a 9.2% stake in the company and joined its board of directors. He has promised to make “ significant improvements ” to the platform. One of the ideas he has been discussing on Twitter concerns the authentication checkmark. Musk suggested that everyone who signs up for the Twitter Blue subscription service and pays $3 a month should get an authentication checkmark. Replying to a user asking for the fee to be lower in Argentina since an entire family eats for $3 the...

On Friday, Grant McCarty, the director of policy and public affairs at Bitcoin Magazine, announced the launch of three political efforts aimed at bolstering bitcoin public policy at the Bitcoin 22 conference in Miami. McCarty revealed the Bitcoin Advocacy Project (BAP), the Bitcoin Policy Institute (BPI) and an independent expenditure-only political committee called the Financial Freedom PAC. 3 Newly Launched Political Efforts Aim to ‘Bring About an Orange Wave Across Washington’ A new bitcoin-themed Super PAC has been launched to help “elect bitcoin champions.” According to the Financial Freedom PAC website introduced by Bitcoin Magazine’s Grant McCarty, the new Super PAC supports “candidates that aim to defend and uphold the following rights of bitcoin owners in the United States.” In recent times, bureaucrats have unveiled a number of regulatory policies toward digital currencies and many fear that strict crypto regulation can stifle technological innovation. Basically, a Sup...

On Sunday, April 10, 2022, the Terra (LUNA) project and Luna Foundation Gaurd (LFG) acquired 4,130 bitcoin worth $176.1 million at the time of settlement. Using today’s bitcoin exchange rates, LFG now has a total of 39,897.98 bitcoin worth $1.7 billion. Luna Foundation Gaurd Obtains $176 Million in Bitcoin for the UST Decentralized Forex Reserve Two days ago, the Luna Foundation Gaurd (LFG) announced a partnership with the Avalanche Foundation and disclosed it would be purchasing $100 million worth of avalanche (AVAX) in an over-the-counter (OTC) exchange. The $100 million in AVAX is meant to diversify the reserves held for the project’s UST Decentralized Forex Reserve. Terrausd or UST is Terra’s (LUNA) algorithmic stablecoin and LFG has also been backing the forex reserve with bitcoin ( BTC ). Four days ago, on April 6, LFG acquired 5,040 bitcoin ( BTC ) which pushed the stash up to 35,767.98 bitcoin. Today, on April 10, LFG obtained another large amount of BTC as it deposited ...

Another week has passed in the action-packed world of crypto, so it’s time to kick back, take stock of the situation, and enjoy this week’s bite-sized digest of the hottest crypto news from the past seven days. On the menu this go-round is Tesla CEO Elon Musk talking about Twitter’s ‘single most annoying problem,’ a deep dive into the world of Bored Ape Yacht Club NFT gains, a pile of bitcoins connected to Mt Gox still shrouded in mystery, and tax developments in Indonesia. Without further ado, this is the Bitcoin.com News Week in Review. Elon Musk Promises to Make ‘Significant Improvements’ to Twitter — Calls Crypto Spam Bots ‘Single Most Annoying Problem’ Tesla and Spacex CEO Elon Musk has joined Twitter’s board of directors and promised to “make significant improvements” to the social media platform. Some changes he is considering include adding an edit button and solving the crypto spam bot problem, which he sees as the “single most annoying problem on Twitter.” Read More An...

The Ministry of Finance of the Russian Federation has revised a draft law designed to regulate the country’s crypto space, introducing provisions for cryptocurrency mining. The bill has been resubmitted to the government and may be adopted during the parliament’s spring session. Updated Law ‘On Digital Currency’ Filed With Russian Government Russia’s Ministry of Finance has amended a bill intended to implement comprehensive rules for the Russian cryptocurrency sector. The latest version now takes into account the positions announced by other government institutions on the matter, the department announced Friday. The finalized draft law “On Digital currency” has been returned to the cabinet of ministers in Moscow. The legislation, which was initially submitted to the federal government in February, aims to regulate crypto transactions in Russia as well as the activities of crypto market players. It was prepared to fill the regulatory gaps left after the adoption of the law “On Dig...

The HBAR foundation, a nonprofit organization designed to accelerate the development of the Hedera Hashgraph ecosystem, has announced the launch of a new Metaverse fund. The fund, which launches with $250 million, will serve to entice builders and programmers to bring their metaverse products to the Hedera network and make use of its decentralized ledger technologies. HBAR Foundation Wants the Metaverse to Happen on Hedera The battle for the metaverse is intensifying, and many organizations are offering incentives for these experiences to be built using their own infrastructures. The HBAR Foundation, an organization devoted to the growth of the Hedera Hashgraph ecosystem and the apps on it, has announced the launch of the THF Metaverse Fund that will offer $250 million in incentives to programmers that want to bring their metaverse apps to life by using Hedera Hashgraph’s tools. On why the HBAR Foundation believes that Hedera is an ideal platform for metaverse inspired apps, it st...