Bitcoin News and Finance: What You Need to Know

The Argentine tax authority (AFIP) is increasing its scrutiny when it comes to digital wallets. The institution recently revealed it found irregularities in at least 184 tax statements that include digital wallets and cryptocurrencies. These taxpayers did not include their wallet holdings as part of their 2021 tax statements, leaving close to $7.6 million in such assets undeclared. Argentine Tax Authority AFIP Finds Irregularities The Argentine tax authority has ramped up its vigilance for digital and cryptocurrency taxes. Recently, the institution announced that it had discovered a series of irregularities that involved at least 184 taxpayers, who failed to refer to their digital and cryptocurrency holdings in their tax statements. The scrutinized tax statements, corresponding to fiscal year 2021, involve a difference of close to $7.6 million in assets undeclared, which will have to be paid according to rules for existing estate taxes. The AFIP explained this was the result of c...

On Sunday evening, March 19, 2023, at 5:00 p.m. Eastern Time, the U.S. Federal Reserve, along with several central banks including the Bank of England, Bank of Canada, Bank of Japan, the European Central Bank, and the Swiss National Bank, announced a coordinated action to enhance the provision of liquidity via the standing U.S. dollar liquidity swap line arrangements. The announcement followed a banking crisis that began with the collapse of three U.S. banks and spread internationally. Turmoil in Banking Industry Leads to Coordinated Action to Enhance Liquidity Before Wall Street opened on Monday and ahead of the next Federal Reserve meeting, the U.S. central bank, along with five other major central banks, announced decisive action to add liquidity to the financial system. The participating banks included the Bank of England, Bank of Canada, Bank of Japan, Swiss National Bank, and the European Central Bank (ECB). In fact, all participating central banks published similar press rel...

Bitcoin was trading above $28,000 on Monday, as cryptocurrencies extended a bull run to start the week. This upwards sentiment comes as the Federal Reserve and other major central banks made coordinated moves to enhance market liquidity. Ethereum continues to trade close to $1,800. Bitcoin Bitcoin ( BTC ) started the week trading above $28,000, as markets responded to the deepening global banking crisis. The coordinated action by several major G7 central banks comes as Credit Suisse was bought out by rival UBS, a move engineered by Swiss authorities. BTC /USD jumped to an intraday peak of $28,527.72 earlier today, which comes a day after trading at a low of $27,196.76. Bitcoin chart by TradingView As a result of the rally, bitcoin climbed to its strongest point since last June, with many now anticipating a move above $30,000. Overall, this surge has sent prices into overbought territory, with the 14-day relative strength index (RSI) now tracking at 72.73. The next visib...

Blockchain technology can help solve current issues with settlements, according to the deputy chief executive of Sberbank. Russia’s largest bank is working with other financial institutions to develop blockchain-based payment applications, the banker revealed. Sberbank Sees Solution to Russia’s Troubles With Settlements in Blockchain With major Russian banks disconnected from the main global interbank payment system, SWIFT , due to Moscow’s war on Ukraine, blockchain will help to solve the problem with payments, Sberbank’s First Deputy CEO Alexander Vedyakhin is convinced. “It is blockchain technology that will make it possible to solve this issue because this is a distributed ledger, there is no one point of decision making, no center, no knife switch that can be shut off,” Vedyakhin explained, quoted by the Interfax news agency. “Everyone has everything recorded, there are special protocols that make it possible to do this confidentially,” the executive added during a meeting of...

PRESS RELEASE. WATERPORT PLACE, GIB., March 20th, 2023 – Digital Asset Management Limited and the Damex group (“Damex” or “Damex.io”)), a Distributed Ledger Technology provider based in Gibraltar, recently announced its utility token IEO, the Damex Token ($DAMEX), which can be used within the Damex App along with other non-fungible tokens (NFTs), to earn rewards for adopting a healthier and more active lifestyle. Damex announced its token IEO for 19th April. Its utility went live and was tested during the Q1 of 2023, with future developments for both the Damex Token and the Damex App slated throughout the year. The total supply is 370 million Damex Tokens. The goal of these new offerings by Damex is to encourage users to become healthier individuals while, at the same time, educating them about cryptocurrency and promoting environmental sustainability. What can users gain in exchange for staking Damex Tokens? For instance, when a user stakes 5,000 Damex Tokens, they can get acce...

A report issued by Globaldata, a global consulting and data analysis company, predicts that China will become a leading country in metaverse tech during 2023. The firm believes that the development of other technologies like artificial intelligence (AI), virtual reality (VR), augmented reality (AR), and 6G will allow China to configure itself as a metaverse hub. China to Lead Metaverse Industry in 2023 While the interest in the metaverse seems to be waning at a worldwide level, China is still pushing to become a leader in the industry. According to a recent report prepared by Globaldata, a consulting firm, China is positioning itself to surpass the West when it comes to metaverse tech, as the country will keep investing in technologies related to this field. The report states the importance that China gives to these accessory technologies will allow it to become a center for the metaverse. It states: The growing emphasis on VR, AR, AI, and 6G aims to outpace advances in the West...