Bitcoin News and Finance: What You Need to Know

Exxon Mobil Corporation is reportedly participating in a pilot program that leverages excess natural gas to power crypto mining machines, according to a recent report quoting people familiar with the matter. The report states that the oil giant is partnered with the firm Crusoe Energy Systems, and the pilot is purportedly taking place in North Dakota at the Bakken shale basin. Unnamed Sources Say Exxon Is Piloting a Bitcoin Mining Operation in North Dakota Using Flare Gas On March 24, Bloomberg author Naureen S Malik reported that the largest American oil and gas corporation Exxon Mobil (NYSE: XOM ) is participating in piloting a bitcoin mining project with excess gas. Malik wrote that “people familiar with the matter” told Bloomberg that they could not be named because the information is not public. However, the people who asked to not be named said that currently, Exxon Mobil is working with Crusoe Energy Solutions in the state of North Dakota. Crusoe Energy is a firm that prov...

PRESS RELEASE. MetaGods , the world’s first play-to-earn 8-bit action role-playing game built on the blockchain, introduced an upcoming in-game land sale with a group of amazing backers involved, including world-famous Youtuber MrBeast. MetaGods is a game based on Greek mythology where players fight against gods as they ascend through the virtual world. Gameplay requires players to acquire unique characters through NFTs to increase their chances of winning battles and earning rewards. MetaGods players can also team up and fight epic bosses on their path to becoming gods. The blockchain-based role-playing game (RPG) uses two tokens – $MGOD and $RELIC – powering the entire MetaGods ecosystem. Players use $MGOD as the platform’s governance token, and also to participate in special in-game events. On the other hand, $RELIC is a token players earn through gameplay, usable for purchases in the MetaGods marketplace. Lands in the MetaGods Game Players can use either $MGOD or $ BNB to acq...

Meta Inc., formerly Facebook, has filed eight trademark applications relating to a wide range of crypto services and the metaverse. They include cryptocurrencies, crypto trading, blockchain software, crypto wallets, and crypto exchanges. Meta’s Trademark Filings Cover a Range of Crypto Services and the Metaverse Facebook owner Meta has filed eight new trademark applications with the United States Patent and Trademark Office (USPTO) for its logo covering a range of crypto-related products and services. A USPTO-licensed trademark attorney, Mike Kondoudis, tweeted Wednesday explaining that the applications (serial numbers: 97320155, 97320153, 97320149, 97320147, 97320146, 97320144, 97320140, and 97320136) were filed on March 18. They cover a wide range of crypto-related products and services including crypto tokens, cryptocurrencies, blockchain software, crypto exchanges, and crypto trading. Kondoudis described Meta’s applications as a blueprint for how the company intends to engage...

The CEO of the world’s largest asset manager, Blackrock, says the Russia-Ukraine war has a “potential impact on accelerating digital currencies.” He confirms that Blackrock “is studying digital currencies, stablecoins and the underlying technologies to understand how they can help us serve our clients.” Blackrock on the Acceleration of Digital Currencies Blackrock CEO Larry Fink published his 2022 letter to shareholders Thursday with a section on digital currencies. Blackrock is the world’s largest asset manager, overseeing more than $10 trillion. “The Russian invasion of Ukraine has put an end to the globalization we have experienced over the last three decades,” Fink wrote. After extensively discussing the impact of the war, the CEO noted: A less-discussed aspect of the war is its potential impact on accelerating digital currencies. The war will prompt countries to re-evaluate their currency dependencies. Several renowned investors have predicted that the Russia-Ukraine war c...

Florida governor, Ron DeSantis explained at a press conference on Tuesday that he’s spoken with state agencies and told them to figure out ways for businesses to pay tax with cryptocurrencies. During the signing ceremony for a bill focused on financial literacy, DeSantis said that the government is working on accepting bitcoin “for payments in the state of Florida.” DeSantis Is Concerned About Biden’s Executive Order On Tuesday, Ron DeSantis, the 46th governor of Florida appeared at a press conference with fellow colleagues in order to sign a bill that mandates financial literacy in schools throughout the state. DeSantis touched on many subjects as Florida’s governor noted that he is concerned about U.S. president Joe Biden’s recent digital currency-focused executive order . According to DeSantis, there’s a lack of understanding when it comes to decentralized crypto assets and centralized digital bank currencies (CBDCs). “There’s a difference between a decentralized digital crypto...

Spain’s Ministry of Treasury has admitted that Spanish citizens are not forced by law to declare their cryptocurrency holdings under the disputed Model 720, which involves declaring funds held abroad. While the antifraud law approved last year established this duty, there are still no rules regarding cryptocurrency after Model 720 was declared to be illegal by European laws. No Obligation to Include Crypto in Tax Statements Under Model 720 The Spanish Treasury Ministry has admitted that the current legal framework does not include the obligation for Spaniards to declare their cryptocurrency holdings under Model 720, which has to do with funds held abroad. The Spanish Tax Agency confirmed that citizens don’t have any duty to report their cryptocurrency holdings, not even in an informative way, after the underlying ruleset has not been established by the authorities. This means that citizens need not include any of their crypto-related info in the upcoming Model 720 statement corres...

The Japanese social media and messenger software firm Line Corporation has announced the company is introducing a non-fungible token (NFT) marketplace on April 13. Line detailed on Wednesday that the market will be called “LINE NFT” and it will showcase “more than 100 types of NFTs.” Japan’s Line Corporation to Launch LINE NFT Marketplace In March 2021, Line Corporation completed a merger with Softbank Group, Yahoo Japan, and Z Holdings. The merged company aims to encompass the digital world from all aspects and last week, reports revealed Z Holdings was launching a global NFT marketplace that will operate in 180 countries. 13 days later, Line announced the company is also launching an NFT marketplace called “LINE NFT.” Line’s press release notes that the market will showcase more than 100 types of NFTs. LINE NFT will launch on April 13, and LINE app users will be able to use the marketplace via the app, the company details. The LINE NFT launch will see participation from Nissy (...

PRESS RELEASE. Bitcoin of America is a popular virtual currency exchange, registered as a money services business with the United States Department of Treasury (FinCEN)(RegNum). Apart from ensuring a fast and hassle-free transaction, they are known for their customer support. Bitcoin of America has announced their newest addition to their Bitcoin ATM machines (BTMs). Dogecoin is now available at Bitcoin of America ATM locations. Bitcoin of America added Ethereum in October of last year. They recognized the growing popularity of Dogecoin and decided it was time to include it in their BTMs. To date, Bitcoin of America has 1800 plus BTMs across 31 states. Bitcoin of America also offers Bitcoin and Litecoin options online and at their BTM locations. To find a BTM you can visit their website and enter in your address to find the nearest one. Bitcoin of America has made several updates to their machines and services over the past year. In May of last year, Bitcoin of America announced th...

The CEO of Almonty Industries has warned that it could take the Federal Reserve 10 years to get inflation under control if they do not act now and stop spending money. “And they need to raise rates. That’s the only tool that works,” he said. Federal Reserve Could Take a Decade to Get Inflation Under Control Almonty Industries CEO Lewis Black discussed the state of the U.S. economy and inflation in an interview with Kitco News this week. Almonty is a global mining company focused on tungsten mining and exploration. Black has over 15 years of experience in the tungsten mining industry. He recently explained that one key use for tungsten is in the batteries used in electric vehicles. “Tungsten is used in anodes and cathodes in batteries, helping vehicles charge quicker,” he said. While noting that the Russia-Ukraine war is directly contributing to the recent inflation surge, the executive pointed out that many commodities were already near record highs before Russia began its invasio...

Billionaire Carl Icahn, the founder of Icahn Enterprises, has predicted that the U.S. economy could be heading into “a recession or even worse.” The famous investor warned of “a lot of trouble ahead” and “a rough landing.” Billionaire Carl Icahn Predicts a Recession in the US Famous investor and billionaire Carl Icahn said Tuesday in an interview with CNBC that a recession or something worse could be on the horizon for the U.S. economy. Icahn is the founder of Icahn Enterprises, a public company and diversified conglomerate holding company based in New York City. His current net worth is approximately $17 billion. Noting that surging inflation is a major threat to the economy, he said: I think there very well could be a recession or even worse. He explained that based on his experience sitting on the boards of a lot of companies, “when you get to understand what these boards do, the system is needing fixing.” He also noted that at this point, “we have supply chain problems” bec...

On Tuesday, the international governing body of association football, FIFA, announced the exchange Crypto.com will be an official sponsor of the FIFA World Cup Qatar 2022 tournament. According to the announcement, the digital currency trading platform will “activate its official sponsorship” during the tournament “in many ways.” FIFA Chooses Digital Asset Exchange Crypto.com as an Official 2022 World Cup Sponsor in Qatar Crypto.com is continuing its trend of leveraging to sports to showcase the brand and generate digital currency awareness. On March 22, FIFA announced the organization has chosen Crypto.com to be an official sponsor for this year’s FIFA World Cup. The World Cup is watched by millions of people all around the world and this year the tournament is taking place in Qatar. FIFA World Cup Qatar 2022 will start on November 21 at the Al Bayt stadium in Al Khor. FIFA’s announcement says that Crypto.com “will be the exclusive cryptocurrency trading platform sponsor of Qatar ...

A major crypto exchange in Japan is going public in the U.S. in a $1.25 billion merger deal. Coincheck is regulated by the Financial Sevices Agency (FSA). It will be listed on Nasdaq under the symbol “CNCK.” Japanese Crypto Exchange Coincheck to List on Nasdaq Japanese cryptocurrency exchange Coincheck revealed Tuesday its plan to go public in the U.S. by merging with Thunder Bridge Capital Partners IV, a special purpose acquisition company (SPAC), in a $1.25 billion deal, which is expected to close in the second half of this year. The combined entity will be named Coincheck Group NV. It is expected to be listed on the Nasdaq Global Select Market under the symbol “CNCK.” SPACs are publicly listed shell companies that carry out initial public offerings (IPOs) to raise funds for acquiring a private entity at a later date. Tokyo-headquartered Coincheck operates one of the largest multi-cryptocurrency marketplaces and digital asset exchanges in Japan. The company is regulated by Japan...

The PSG (Paris Saint-Germain) FC, a soccer club in Europe, has taken its first steps to building an online presence in the metaverse. The club has filed a series of trademark applications to register its name in order to offer a number of services, including software, memorabilia, and articles linked to non-fungible tokens (NFTs) for authentication purposes. PSG Gets Ready for the Metaverse The Paris Saint-Germain (PSG), a French soccer club with a large European following, is interested in having a presence in the metaverse, and is now securing its name to be used in these ecosystems. The club filed a series of trademark applications that seek to establish the brand on several virtual memorabilia and trading cards, all authenticated by non-fungible tokens (NFTs). The trademark application, which was introduced March 16th, includes downloadable audio and video recordings, downloadable multimedia files containing text, audio, and video relating to sports highlights, and goods for us...

PRESS RELEASE. Mercuryo is an international fintech company based in London founded in 2018, focused on providing cryptocurrency payment solutions. The company’s cryptocurrency infrastructure provides global access to fast and cheap money transfers with a bank-level oversight and it’s mission is to reinvent the ease of making digital transactions. Features Of Mercuryo: Integrated Multicurrency Wallet: This feature is an inbuilt crypto on-ramp capability in a custodial multicurrency wallet that is engineered to let you purchase, trade, hold, and spend a wide variety of digital assets, easily exactly like you would with fiat currency. Crypto exchange from your Mercuryo account to any other wallet or blockchain address: Mercuryo wallet users may top up their cryptocurrency wallets by buying crypto through their website or transferring crypto from another wallet. By the same token, customers can also transfer crypto from their Mercuryo account to another account or blockchain addre...

The CEO of Southeast Asia’s largest bank, DBS, says cryptocurrency “can be an alternative to gold.” He added that regulating crypto “out of the formal banking system is an unwise thing to do.” DBS’ CEO on Cryptocurrency and Regulation DBS Bank Group CEO Piyush Gupta talked about cryptocurrency and its regulation at the recent Economic Times Global Business Summit. DBS is Southeast Asia’s largest bank by assets. The Economic Times quoted Gupta as saying: I don’t think that cryptocurrencies will become money as we know it, but it can be an alternative to gold and its value. “The other big challenge [of cryptocurrencies] is volatility in value. If you want to use this to pay for something, you don’t know what it’s costing you,” he elaborated. “Today cryptos are a potential source of speculated value, it’s unlikely that this is a source of money as we know it.” The executive said that central banks across the world should consider bringing cryptocurrency into the regulated space. H...

The European Central Bank (ECB) warns cryptocurrencies are being used to evade sanctions by Russians. ECB President Christine Lagarde warns crypto firms against becoming “accomplices” in the crime. ECB President Lagarde Is Certain About Crypto Being Used to Evade Russian Sanctions Christine Lagarde, president of the European Central Bank (ECB), said Tuesday at the Bank for International Settlements (BIS) Innovation Summit that cryptocurrencies are “certainly” being used by Russian firms and individuals to bypass sanctions. A growing number of countries have levied heavy sanctions against Russian entities after Russia began its invasion of Ukraine . Expressing concerns over crypto’s continued use, the ECB chief said: They are certainly being used as a way to try to circumvent the sanctions that have been decided by many countries around the world against Russia. “A specific number of players, either individuals or corporates, are obviously trying to convert their rubles into cry...

The U.K.’s advertising authority has sent an enforcement notice to more than 50 companies that advertise cryptocurrencies. “We will monitor for compliance and implement sanctions if we do not see improvements,” said the regulator. British Advertising Regulator’s ‘Red Alert’ Priority Issue The U.K. Advertising Standards Authority (ASA), the country’s regulator of advertising, announced Tuesday: We have issued an enforcement notice to over 50 companies which advertise cryptocurrencies, instructing them to review their ads and to ensure they understand and are complying with the rules so that consumers are treated fairly. “The enforcement notice provides guidance to the crypto industry on how to stick to the rules and warns that we will monitor for compliance and implement sanctions if we do not see improvements,” the ASA added. “The notice applies to ads for cryptocurrencies, crypto exchanges and ads or promotions which otherwise involve the transfer, sale or supply of cryptocurr...

An account blockade that happened more than five months ago due to money laundering issues has prompted some Colombian users of Binance to commence legal action against the exchange in the country. According to reports the funds blocked exceed $1 million, and after an investigation from the FIOD, the Netherlands’ anti-money laundering watchdog, the funds were linked to financial crimes. Binance Account Blockage Prompts Legal Action in Colombia Binance is facing legal issues in Colombia after blocking the accounts of a group of citizens whose activities were allegedly linked to a money-laundering investigation from the FIOD, the Fiscal Intelligence and Investigation Service of the Netherlands. According to reports , the value of the cryptocurrency blocked in these accounts totals more than $1 million, with users being unable to move the funds since five months ago. Some users noted they’ve been victims of a seizure of funds, like Jairo Velez, who stated: I have been blocked since...

On Monday, Tommy Hilfiger has announced the company is joining the inaugural Decentraland Metaverse Fashion Week from March 24th to March 27th, 2022. During the Metaverse Fashion Week, the American fashion design firm said it will showcase its Spring 2022 collections and provide consumers with a “digital retail platform” that features Tommy Hilfiger-crafted NFTs. American Fashion Designer Tommy Hilfiger Is ‘Inspired by the Power of Digital Technology’ At the end of February, Decentraland, the virtual blockchain metaverse, announced the project’s first Metaverse Fashion Week (MFW) would take place this year. Additionally, Decentraland mentioned that visitors would see appearances by Dolce & Gabbana, Selfridges, Jacob & Co, Franck Muller, Garrett Leight, Cavalli, and The Fabricant. It was also noted at the time that the American fashion design firm Tommy Hilfiger would be in attendance. On March 21, Tommy Hilfiger explained that joining the Decentraland MFW represents the “b...

Nepalese actress and model Priyanka Karki is being questioned by the police after her picture was found in promotional material for a cryptocurrency scheme. “The investigation is still underway. We are trying to find out if the actress is involved in the crypto trading promotion or only her picture was used,” said the police. Actress Priyanka Karki Questioned in Connection With a Cryptocurrency Scheme Nepalese actress and model Priyanka Karki has been questioned by Nepal’s Central Bureau of Investigation (CBI) in connection with a cryptocurrency scheme. The CBI brought Karki in for questioning after they found a cryptocurrency ad with her picture on Facebook. The CBI released her on bail Sunday. However, the police said that the investigation is not yet completed and seized her mobile phone for investigation, according to local media. CBI Deputy Inspector General (DIG) Dhiraj Pratap Singh explained, “The bureau began an investigation after seeing cryptocurrency promotional content...

PRESS RELEASE. Nestree is a blockchain-based community messenger that is incentivized in nature. It is also a messaging platform that specializes in the development and revival of diverse communities by exposing them to blockchain technology and cryptocurrencies. In 2022, Nestree will deploy an NFT Aggregator Service (Beta). Nestree has evolved into a specialist platform for NFTs, a fast developing asset class. Moreover, by connecting with multiple worldwide platforms, the team hopes to increase the utility value of the EGG token. Understanding NFT Aggregators Several NFT markets have recently emerged throughout the world. This has resulted in knowledge asymmetry and fragmentation, particularly in relation to NFTs. Thus far, the world has seen a tremendous quantity of knowledge and cash come into the NFT sector, but we’ve also seen an equal amount of bogus and malevolent information flood in. In fact, the greatest crypto fraud case (worth approximately $4 million USD), happened ...

India’s ministry of finance has clarified in parliament how the government plans to tax cryptocurrency transactions. A proposed new section to the Income Tax Act states that gains from crypto transactions will be taxed at 30% while losses cannot be deducted. Indian Government Reveals Taxation Plan The Indian ministry of finance answered some questions Monday in Lok Sabha, the lower house of parliament, regarding how cryptocurrency transactions will be taxed going forward. Minister Pankaj Chaudhary, the minister of state in the ministry of finance, explained that The Financial Bill 2022 has proposed to insert section 115BBH to the Income Tax Act 1961 to provide for the taxation of income from transfers of virtual digital assets (VDAs). He stated: As per the proposed section, any income from transfer of VDA shall be taxed at the rate of 30%. “Further, while computing the income from transfer of VDA, no deduction in respect of any expenditure (other than cost of acquisition) or al...

Flexid Technologies, a blockchain startup promoting the use of digital identities, said its solution was recently used by thousands of Zimbabwean households and patients that participated in a local health survey study. Using Technology to Drive Down the Cost of Healthcare A blockchain startup, Flexid Technologies, revealed it recently made its digital identity solution available to 15,000 households and 50,000 patients that took part in a Zimbabwean baseline survey. The survey was conducted between 2021 and early 2022 by a local healthcare provider, Ubuntu Clinic. In his remarks published by Techzim following the release of the study findings, Flexid Technologies CEO and co-founder, Victor Mapunga explained why his company decided to be a part of the survey. He explained: We believe that harnessing the power of technology in the healthcare sector is paramount in driving cost down and most importantly improving patient outcomes. Mapunga also suggested the survey findings would...

With a war raging in their homeland, thousands of Ukrainians, including many involved in the crypto space, have chosen Portugal as their new home. The country is an attractive destination, not only because of its warmer climate but also its relatively affordable cost of living and crypto-friendly tax regime. Portugal Attracts Crypto Talent and Business From War-Torn Ukraine The Russian invasion of Ukraine has sent millions of refugees fleeing to other European nations and Portugal is no exception. Despite the great distance from the conflict zone, the country has already accepted 13,000 refugees in the past weeks after the authorities in Lisbon simplified the arrival procedures for Ukrainians. Those among them who had been working in Ukraine’s growing crypto industry are likely to find it easier to settle down in Portugal than in other countries on the Old Continent, BNN Bloomberg noted in a report. Much like Ukraine before the war, this EU member state is becoming a cryptocurrenc...

Cryptocurrency exchange Binance has informed the Ontario Securities Commission (OSC) that it is committed to ceasing opening new accounts for Ontario residents and winding down certain services to comply with regulations. Binance Promises to Increase Efforts to Comply With Regulation Cryptocurrency exchange Binance sent a letter to the Ontario Securities Commission (OSC) Wednesday. In the letter, Binance listed a few commitments to the OSC, including “ceasing opening new Ontario accounts,” “ceasing trading in existing Ontario accounts, with exceptions to protect investors, along with winding down its businesses in certain products,” and “providing fee waivers and offering fee reimbursement to certain Ontario users.” In addition, Binance will also make reports to OSC staff and retain an independent third party to ensure the effectiveness of its efforts to implement its commitments. Binance decided to withdraw its services from Ontario in June 2021. The exchange told Ontario users...

PRESS RELEASE. MV/USDT pair will be listed on Gate.io, a leading Cryptocurrency exchange, on March 23, 2022 at 11:00AM (UTC).. The Gensokishi Online Project is a GameFi and metaverse incarnation of the award winning Nintendo Switch/PS4 game “Elemental Knights’. It has set numerous records since releasing its website and various social networking sites on December 2, 2021. The community has grown to over 230k members since its release. Gensokish Online Project’s token MV(Metaverse) is also ranked second in most held tokens out of all 1,000+ tokens built on Polygon, indicating the high expectations for The Gensokishi Online Project. Gate.io Gate.io is one of the leading Cryptocurrency exchanges established in China, founded in 2013. Operating under the direction of Gate Technology Inc., the company provides centralized and decentralized systems for comprehensive protection of user funds, while offering trading and instant deposit and withdrawal services based on state-of-the-art...