Bitcoin News and Finance: What You Need to Know

President of Kazakhstan Kassym-Jomart Tokayev has signed into law a bill amending the country’s Tax Code to impose higher tax rates on crypto miners. The levy will depend on the amount and average price of electricity utilized in the extraction of digital currencies like bitcoin. Cryptocurrency Miners in Kazakhstan to Pay Higher Taxes President Tokayev of Kazakhstan has signed a new piece of legislation introducing changes to the nation’s law “On Taxes and Other Mandatory Payments to the Budget” and supplementary law enhancing the implementation of the Tax Code. The amendments introduce differentiated tax rates for cryptocurrency mining. The exact levies will be determined based on the average price of the electricity consumed to mint coins during a certain tax period. They start as low as 1 Kazakhstani tenge (approx. $0.002 at the time of writing) per kilowatt-hour (kWh), when a miner paid 25 tenge or more ($0.053) per kWh, and can reach 10 tenge, if the electricity tariff was in...

Berkshire Hathaway Vice Chairman Charlie Munger, Warren Buffett’s right-hand man, has a message for investors considering cryptocurrency. “Never touch it,” he stressed, adding that everyone should follow his example and avoid crypto “as if it were an open sewer, full of malicious organisms.” Charlie Munger Reaffirms His Anti-Crypto Stance Charlie Munger, Warren Buffett’s right-hand man and longtime business partner, threw more insults at cryptocurrency in an interview with The Australian Financial Review, published Tuesday. Munger previously called bitcoin “rat poison” and said last year that he hated the success of BTC . Noting that the “crypto craze” is a “mass folly,” he told the publication: I think anybody that sells this stuff is either delusional or evil. I won’t touch the crypto. The Berkshire executive continued: “I’m not interested in undermining the national currencies of the world.” Munger was then asked what advice he would give to other investors who may be consi...

Twitter Inc. has filed a lawsuit against Elon Musk to force the Tesla CEO to go through with the agreement to buy the social medial platform for $44 billion. Twitter alleges that Musk has breached the agreement repeatedly since he signed the deal with the company. Twitter v. Elon Musk: Lawsuit Battle Begins Twitter Inc. (NYSE: TWTR) has filed a lawsuit against Tesla and Spacex CEO Elon Musk for backing out of the deal to buy the social media platform. The lawsuit, filed in the Delaware Court of Chancery, names Musk and his companies — X Holdings I and X Holdings II — as defendants. Twitter alleges: Musk refuses to honor his obligations to Twitter and its stockholders because the deal he signed no longer serves his personal interests. The lawsuit explains that after Musk signed the agreement with Twitter, the market fell and the value of his stake in Tesla, and therefore his personal wealth, dropped by more than $100 billion since its November 2021 peak. The social media giant...

With live-tested transaction speeds of 64,000 TPS, infinitely scalable blockchain Everscale is undeniably one of the fastest out there, and if H1 2022 is anything to go by, its development progress is no less rapid. Despite seriously bearish trends in the crypto market triggered in large part by the collapse of Terra’s LUNA token and UST stablecoin, and later compounded by a significant crisis for crypto lender Celsius, Everscale continued to bolster its already considerable advantages at a rate of knots, ticking off plenty of roadmap goals as it went. Listings on major crypto exchanges such as Huobi, KuCoin, and BitMartare a testament to the blockchain’s achievements over the period. Everscale’s transaction costs were already comparatively very low before the recent developments, but Q1, which was still a green one for most tokens and positive for the industry in general, saw the platform’s gas fees reduce to just 0.014 EVER (currently around $0.0014). There was good news for an...

The government of Spain has announced it will issue a series of grants and aid for metaverse-related developments. The individuals and companies interested in receiving these grants will have to be based in the European Union or Spain and present a plan, and meet a series of requirements, to be considered. The first batch of grants will be dedicated to the gaming and entertainment sector. Spain Acknowledges Relevance of the Metaverse Countries from all over the world are now considering the metaverse and its related technologies as important developmental pillars for the future. Spain has announced it will dedicate more than $4 million in grants for metaverse-related projects. The grants program, which will be managed by the Ministry of Economic Affairs and Digital Transformation of the country, will be directed to companies and individuals working on the metaverse projects in the European Union or in Spain directly. Those interested in applying for these grants will have to prese...