Bitcoin News and Finance: What You Need to Know

Epic Games, the game developing studio, and Lego, the famous construction block company, have announced a partnership to develop a metaverse designed for kids. This metaverse world aims to allow kids of all ages to become builders and design their own experiences while protecting their right to play by putting online safety as one of its main objectives. Epic Games and Lego to Launch Joint Metaverse Epic Games, the developer behind Fortnite, and Lego, the famous toy building block company, have inked a partnership to produce a joint metaverse. The metaverse initiative will be designed from the ground up to be suitable for kids of all ages who, according to the press release issued on the Epic Games website, will be able to create their own experiences. The press release detailed: The family-friendly digital experience will give kids access to tools that will empower them to become confident creators and deliver amazing play opportunities in a safe and positive space. Neither o...

Cryptocurrency trading volumes in India have plunged further across exchanges as traders mull over the 30% crypto taxation. In addition, popular payment service provider Mobikwik has stopped service to exchanges. Crypto Trading Volume in India Plunges Further Cryptocurrency trading volume in India continues to slide after the government began taxing crypto income at 30% without allowing any loss offsets or deductions. According to crypto research firm Crebaco, cryptocurrency trading volumes have fallen from last week across all major exchanges, Moneycontrol reported. Wazirx suffered a 72% drop in trading volume, Coindcx 52%, and Zebpay 59%. In addition, MobiKwik reportedly withdrew its services across exchanges on April 1 amid unclear regulations. Mobikwik was one of the preferred methods of payment to purchase cryptocurrencies at exchanges. A crypto exchange executive was quoted by the publication as saying: Mobikwik did not give any specific reason for withdrawing its service...

David Rubenstein, the founder of Carlyle Group, one of the largest investment firms managing over $300 billion, says he was skeptical of crypto but now believes that “the genie is out of the bottle” and the crypto industry is not “going to go away anytime soon.” David Rubenstein on Crypto David Rubenstein, co-founder of Carlyle Group, one of the largest private equity firms in the world, has shared why he changed his mind about crypto in a recent interview by Colossus . Rubenstein co-founded the Carlyle Group in 1987. Since then, the company has grown into a firm managing $301 billion from 26 offices around the world. Among many credentials, Rubenstein is chairman of the Council on Foreign Relations, a trustee of the Brookings Institution and the World Economic Forum; and a recipient of the Carnegie Medal of Philanthropy. “I was skeptical of crypto in the beginning because I figured there’s nothing underlying this,” he began, elaborating: But it’s clear to me now that many youn...

Iran will not recognize cryptocurrencies as a means of payment, a high-ranking government official has indicated. His statement came as the Central Bank of Iran announced rules for the issuance of digital coins in the country. These are meant, however, for its own “crypto rial,” the pilot phase of which should start in the near future. Accepting Cryptocurrency for Payments Is a Red Line, Iranian Minister Says Cryptocurrencies like bitcoin will not be treated as legal tender in the Islamic Republic of Iran. Discussing regulatory matters related to the storage and exchange of cryptocurrencies, Iran’s deputy minister of communications, Reza Bagheri Asl, emphasized: We do not recognize payments with cryptocurrencies. The government official was commenting on the latest resolution by the Digital Economy Working Group regarding crypto assets. He pointed out that the use of any foreign currency is outside the sovereignty and against the monetary and banking law of Iran. “So, we will b...

PRESS RELEASE. GREENSBORO, April 11, 2022 — DAO Maker, a leading launchpad for cryptocurrency projects, is launching an NFT collection celebrating the late Argentinian football hero Diego Maradona this month. It is the first official Maradona-licensed NFT project and has the backing of all five of the athlete’s heirs. The football legend’s daughter Jana Maradona stated, “Maradona D10S NFTs is the first time all heirs have come together in a creative collaboration since Diego’s passing.” The collection comprises 5,000 profile pictures of Maradona, which fans can use as avatars and support nearly any blockchain. The token is Ethereum-based and launches with the opening of the 2022 FIFA season to memorize the global icon. It is also an opportunity for DAO Maker to impact the industry positively. Per CEO Christoph Zaknun, “The NFT space quickly became toxic and full of fraudulent activity. We are entering this market with an aim to fix these problems while offering a venue for celebri...

The digital currency trading platform Coinbase is producing a three-part film series with the popular non-fungible token (NFT) project Bored Ape Yacht Club (BAYC). The films will be crafted by Coinbase Entertainment and feature select BAYC NFT characters that will be crowdsourced from the Bored Ape NFT community. Coinbase Entertainment Is Working on a Three-Part Film Series That Will Feature Crowdsourced Bored Apes On April 11, Coinbase announced it has plans to release a film trilogy dedicated to the Bored Ape Yacht Club NFT collection. A report stemming from one37pm.com indicates that the crypto exchange is “celebrating and amplifying the BAYC community” via the film trilogy. Coinbase confirmed the films on Twitter after publishing a teaser tweet that said something was coming. A few hours later, Coinbase tweeted again and said: Definitely something. We’re creating an interactive three-part film featuring the [Bored Ape Yacht Club] & Apecoin communities. Come build wit...

Officials from Tanzania’s financial sector have called for a clearer global consensus on central bank digital currencies (CBDCs) and crypto-assets. The officials agreed that more discussions still need to be carried out before a final decision is made. Interoperability of CBDCs Just under a year after the Tanzanian President Samia Suluhu Hassan asked the country’s finance chiefs to prepare for cryptocurrencies, officials from the country’s financial sector are now calling for a clearer global stance towards central bank digital currencies (CBDC) and crypto-assets. The officials, the Finance and Planning Minister, Mwigulu Nchemba and the central bank governor, Florens Luoga, have both reportedly agreed that further discussions around the two topics are needed before any decision is made. According to a report published by The East African, the two officials said this while addressing a virtual summit organized by the Bank of Tanzania (BOT) and the International Monetary Fund (IMF)...

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...

European institutions are closing crypto loopholes for Russia with the latest package of penalties imposed by the EU over Moscow’s aggression against Ukraine. The new sanctions prohibit the provision of “high-value” crypto-asset services to Russian entities and residents. EU Limits Russian Crypto Wallet Deposits to €10,000 Expanding its sanctions in response to the Russian military assault on Ukraine, the European Union has again targeted cryptocurrencies. On Friday, the European Commission, the executive body in Brussels, welcomed the fifth round of restrictions agreed upon by the Council of the EU. They have been tailored to “further contribute to ramping up economic pressure on the Kremlin and cripple its ability to finance its invasion of Ukraine.” The new Council regulation, published in the Official Journal of the European Union, bans the provision of “high-value” crypto-asset services to the Russian Federation. It applies to crypto wallet, account, or custody services fo...

Billionaire Paypal co-founder Peter Thiel has compiled a list of bitcoin’s enemies, the “finance gerontocracy” he said is stopping the price of the cryptocurrency from soaring a hundred times. Berkshire Hathaway CEO Warren Buffett tops the list. Thiel called him “the sociopathic grandpa of Omaha.” Peter Thiel Unveils List of Bitcoin’s Enemies Billionaire Paypal co-founder Peter Thiel shared his list of enemies stopping bitcoin from rising 100x Thursday while speaking at the Bitcoin 2022 conference in Miami, Florida. The “enemies list [is] a list of people who I think are stopping bitcoin,” he said. “There’s a lot of them, they tend to have nameless faceless bureaucrat perspectives, which is of course one of the ways they hide.” Thiel continued: We are going to try to expose them and realize that this is sort of what we have to fight for bitcoin to go up 10x, 100x from here. “The central banks are going bankrupt. We are at the end of the fiat money regime,” he said. The first p...

Shark Tank star Kevin O’Leary, aka Mr. Wonderful, has predicted that trillions of dollars will flow into cryptocurrencies, particularly bitcoin. In addition, he said bitcoin mining will “save the world.” O’Leary Says ‘Spigots of Capital’ Will Flood Into Crypto Like You’ve Never Seen Shark Tank star Kevin O’Leary gave a keynote speech at the Bitcoin 2022 conference Thursday. He said that based on his experience in the indexing business, “massive pools of capital, these trillion-dollar pools” are waiting for policy. They currently own zero or very little crypto. “It’s the purvey of high net worth individuals, hedge funds, and retail investors,” he clarified. Mr. Wonderful detailed: What we’re missing is policy. When we get policy and the regulator regulates, that’s not a negative thing. The spigots of capital are going to flood into this sector like you’ve never seen. “So for those of us that can invest in it now, you are going to get ahead of what’s going to be a huge wave of i...

The mayor of the U.S. city of Miami, Florida, has unveiled his “Vision for Bitcoin America 2024.” Stressing that the U.S. needs to elect a pro-bitcoin president, he said “we need to integrate bitcoin into every aspect of our society” this year and “unleash the macro power of bitcoin.” Miami’s Mayor’s Vision of Bitcoin America Miami Mayor Francis Suarez talked about bitcoin at the Bitcoin 2022 conference that’s taking place in his city this week. The pro-bitcoin mayor has led several bitcoin initiatives in his city and state. His salary is already paid in bitcoin and his city employees can choose to be paid in bitcoin. “I need to articulate a vision for this country,” he said. “The vision is simple. I call it: Vision for Bitcoin America 2024.” Suarez explained that it has three points, stating: The first is we need to elect pro-bitcoin candidates, and yes the next president of the United States has to be a pro-bitcoin candidate. “Because what’s at stake is federal legislation th...

Global markets company and Chicago-based derivatives exchange CME Group plans to launch 11 new reference rates tied to specific crypto assets. The reference rates and real-time indices bolstered by CF Benchmarks are typically leveraged by exchange-traded products and other investment vehicles. 11 Crypto Assets Get Reference Rate Treatment From CME Group and CF Benchmarks CME Group is adding 11 more cryptocurrencies to the firm’s existing bitcoin and ethereum reference rates. Crypto reference rates like the CME CF Reference Rates are often used as a benchmark for exchange-traded funds (ETFs) and other financial products. The new rates cover polygon, solana, stellar, algorand, bitcoin cash, cardano, chainlink, uniswap, cosmos, litecoin, and polkadot values. Pricing data for the benchmarks will be provided by Bitstamp, Coinbase, Gemini, Itbit, Kraken, and LMAX. Each coin will leverage two exchanges, CME Group’s announcement discloses. “As the digital asset market continues to expand...

The head of the South African central bank has insisted that regulators and policymakers should be involved in directing any potential move to markets that are based on distributed ledger technology (DLT). Pondering the Implications of Innovation The governor of the South African Reserve Bank (SARB), Lesetja Kganyago, has argued that central banks, regulators, and policymakers should and must play a role in “shaping a potential move to DLT-based markets.” According to Kganyago, these stakeholders can achieve this objective by “pondering the implications of innovation, promoting responsible innovation for the public good.” In addition, they can also do this by “informing an appropriate policy and regulatory response.” In his virtual address following the launch of the Project Khokha 2 (PK 2) report, Kganyago shared his views concerning the future of central banks in a world that is based on the principles of decentralization. He said: From a regulatory perspective, I think it is...

Sky Mavis, the company behind the play-to-earn (P2E) game Axie Infinity, announced it has raised $150 million in a funding round to replenish the funds the company lost in the Ronin Network exploit. The funding round — which was led by Binance and had the participation of companies like Animoca Brands, a16z, Dialectic, Paradigm, and Accel — constitutes part of the actions the company is taking to recover its ecosystem and reimburse users. Sky Mavis Raises Funds to Replenish Its Ronin Bridge Sky Mavis, the operator of Axie Infinity, a recognized play-to-earn (P2E) video game in the Web3 ecosystem, has finally announced the actions it will take to recover the funds lost and restore trust in its Ronin Network. The company revealed a funding round where it raised $150 million, led by Binance with the participation of companies in the play-to-earn field like Animoca Brands, and other firms like a16z, Dialectic, Paradigm, and Accel. On the participation of Binance in this round, Changpe...