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Useful Cryptocurrency Resources / Argentina’s Mendoza province now accepting crypto for taxes and fees

« on: September 04, 2022, 09:47:13 PM »

In another shift toward widespread crypto adoption in Argentina, citizens from the Mendoza Province can now pay government fees and taxes using cryptocurrencies.

In a Saturda statement, the Mendoza Tax Administration (ATM) described the new crypto payment service as fulfilling “the strategic objective of modernization and innovation,” giving “taxpayers different means to comply with their tax obligations.”

The service officially began operation on Aug. 24, but at this stage, it will only accept stablecoins such as Tether (USDT) for tax payments.

Citizens can pay through the portal on the ATM website using any crypto wallets like Binance, Bybit and Ripio.

Once the user chooses cryptocurrencies as their payment option, the system.
More information:click

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Useful Cryptocurrency Resources / Most of crypto is still junk’ and lacks use case — JPMorgan blockchain head

« on: September 04, 2022, 09:46:00 PM »

The head of JPMorgan’s digital assets unit Umar Farooq has suggested that most of the crypto assets on the market are “junk” and that real crypto use cases have yet to fully present themselves.

During a panel discussion at the Monetary Authority of Singapore’s Green Shoots Seminar on Tuesday, Farooq stated that regulation is yet to catch up to the burgeoning industry, which is holding back many traditional financial (TradFi) institutions from getting involved.

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Useful Cryptocurrency Resources / Binance Aus ramping up measures to protect vulnerable users, says CEO

« on: September 04, 2022, 09:45:04 PM »

Binance Australia is tightening up its onboarding process for new users as part of a push to protect users it has flagged as most vulnerable to financial crypto crime.

The new measures were mentioned in Binance Australia’s June quarter Economic, Social, and Governance (ESG) report on Monday, which noted that the exchange was working on a “stringent and user-focused onboarding experience” aimed at groups with a higher occurrence of financial crime.

Speaking with Cointelegraph, Leigh Travers, CEO of Binance Aus, and Zachary Lu from the exchange’s Financial Crime, Risk and Compliance unit, noted the company has been actively working on ways to protect “vulnerable users,” which starts from the onboarding process.more

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Useful Cryptocurrency Resources / Binance Pay partnership allows UAE entrepreneurs to set up business using crypto

« on: September 04, 2022, 09:43:38 PM »

Binance marked its presence among the Middle East investors by running various licensed operations in Abu Dhabi, Dubai and other regions. Targeting efforts in the United Arab Emirates' (UAE) mainstream corporate sector, Binance partnered with company formation specialist Virtuzone, allowing new entrepreneurs to set up businesses in the UAE using cryptocurrencies.

Virtuzone joins the list of mainstream businesses in the UAE, such as JA Resorts and Hotels and Majid Al Futtaim, to officially accept cryptocurrencies after integrating Binance Pay into its payment gateway. In addition, by providing businesses the option to use crypto, the company intends to reduce barriers to entrepreneurship and support the startup communities.click

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Useful Cryptocurrency Resources / MAS doesn’t trust retail crypto investments, mulling more regulations

« on: August 29, 2022, 01:35:29 PM »

The managing director of the Monetary Authority of Singapore (MAS), Ravi Menon, addressed the agency’s mixed signals on crypto in the public sphere at a seminar on Aug. 29.

The public claimed that local regulators were spreading crypto-positive sentiments while simultaneously threatening more regulations. According to the new statement from Menon, the observation is not entirely wrong. He says the agency needs to do “a better job explaining” the situation.info

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Useful Cryptocurrency Resources / Dubai issues crypto marketing rules to better protect investors

« on: August 29, 2022, 01:34:11 PM »

Amid Dubai moving forward with a new license program for cryptocurrency service providers, local regulators are introducing additional marketing and advertising rules for the industry.

Dubai’s Virtual Asset Regulatory Authority (VARA), the city’s dedicated crypto regulator, reportedly announced new regulatory guidelines on marketing, advertising and promotions of virtual assets on Aug. 25.

In the rules, the VARA referred to all forms of outreach, communications and advertising, dissemination of information, building awareness, customer engagement, investor solicitation and others, the local news agency Gulf News reported.read

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Useful Cryptocurrency Resources / Bitcoin is ‘one of the worst cryptocurrencies’ claims Cyber Capital founder

« on: August 29, 2022, 01:32:36 PM »

Founder and chief investment officer of crypto-focused fund Cyber Capital Justin Bons have called Bitcoin (BTC) “technically one of the worst cryptocurrencies,” and a “purely speculative asset without utility” in comparison with other cryptocurrencies due to its lack of technological progress.

Bons added his two cents in an 11-part Twitter thread on Sunday, stating that Bitcoin and BTC’s value proposition has long deteriorated due to a broken long-term security model, comparatively weak economic qualities and lack of capacity, programmability and composability. click

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Useful Cryptocurrency Resources / Bear market uncertainty is the perfect time to build and learn, says Sato exec

« on: August 27, 2022, 04:45:06 PM »

The decisions made by companies during bear markets play a pivotal role in determining their longevity in the crypto ecosystem. Representing Canadian Bitcoin (BTC) mining firm Sato Technologies, COO Fanny Philip revealed what it takes to survive the bearish loom as the market prepares for the next bull run.

Speaking to Cointelegraph during the Surfin’ Bitcoin 2022 event in France about the impact of bear markets on business, Philip said now is the time for mining companies to build and learn.
More information:click

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Useful Cryptocurrency Resources / Binance froze $1M corporate account due to law enforcement request

« on: August 27, 2022, 04:43:20 PM »

Major crypto exchange Binance has confirmed it restricted account access to $1 million in crypto for a Tezos tool contributor after being called out on social media.

In a Thursday Twitter thread, Binance said it had restricted the account of Tezos staking rewards auditor Baking Bad “as the result of a law enforcement request.” The Tezos contributor alleged that the crypto exchange had blocked access to its corporate account containing Bitcoin (BTC), Ether (ETH), Polgyon (MATIC), Tether (USDT) and other tokens since July 1 “without any explanations” — a claim Binance denied.read more

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Useful Cryptocurrency Resources / Pro-blockchain narratives hinder Bitcoin adoption, says StackinSat founder

« on: August 27, 2022, 04:41:06 PM »

Over a decade-long evolution later, for self-justified personal reasons, a handful of the crypto community members chose to believe in siding against Bitcoin (BTC), resulting in a narrative that preached "blockchain is great, Bitcoin is bad."

Josselin Tonnellier, the founder of Bitcoin exchange StackinSat and organizer of the Surfin' Bitcoin 2022, believes that this particular notion is one of the main barriers to broader BTC adoption in France.

In an exclusive interview with Cointelegraph reporter Joseph Hall, Tonnellier discussed several important topics, including the adoption of Bitcoin and crypto in France, the origins and goals of the Surfin' Bitcoin conference, and  read more:click

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Useful Cryptocurrency Resources / Bitcoin miners say NY ban will be ineffective and ‘isolate’ the state

« on: June 10, 2022, 11:59:49 PM »

Bitcoin miners say NY ban will be ineffective and ‘isolate’ the state

Brian Newar
Jun 10, 2022 • 5 min read
Two Bitcoin miners have told Cointelegraph that if the bill banning proof-of-work (PoW) mining for two years in New York becomes law, it would end up triggering an exodus of mining companies from the state and do little to address the intended goals of the moratorium.

GEM Mining CEO John Warren told Cointelegraph on Wednesday that he and other miners now view New York as an unfriendly place where they likely would not want to open up shop:

“Miners won’t consider going there after the ban became part of the discussion.”
Environmental sustainability has been at the heart of the New York state government’s argument against proof-of-work mining. The controversial mining ban bill would prohibit any new mining operations in the state for the next two years. It would also refuse the renewal of licenses to those who are already operating in the state unless it uses 100% renewable energy.

GEM Mining recently commented that the bill will not only miss its intended target but also discourage new, renewable-based miners from doing business in the state. Warren told Cointelegraph that his operation is already 97% carbon neutral.


GEM Mining is a South Carolina-based Bitcoin (BTC) mining operation that contributes 1.92 Exahash per second (EH/s) of hashing power to the Bitcoin network as of May.

Similarly, the CEO of Sweden-based White Rock Management digital asset miner Andy Long also feels that Bitcoin mining is “moving in the right direction toward fossil-free energy use,” as he stated in emailed comments to Cointelegraph.

The company boasts 100% dependence on hydroelectric power for its 712 Petahash per second (PH/s) hashing power contribution.

Long echoed the idea that the PoW mining freeze “would not have the intended effect and sends the wrong message:”

“We want to see more states and local governments encourage investment rather than stifle growth with prescriptive regulations that would likely be the thin end of the wedge.”
Roughly 10% of the United State’s hashing power comes from New York, according to the Cambridge Bitcoin Electricity Consumption Index (CBECI). This makes it the fourth-biggest producer in the country. As of April, miners indicated in a survey with the Bitcoin Mining Council that about 58% of the energy used for mining is from sustainable sources.

How New York goes, California goes
The bill, should it come into effect, could see an outflow of mining firms from New York into other states just as miners exited China in a rush following its mining ban last year.

However, Warren believes the contributions from other states will continue to grow whether the moratorium comes into effect or not, adding that it would probably not cause a domino effect of other bans, except that “how New York goes, Cali goes.”

He added that even if Governor Hochul signs the moratorium into law, “New York’s hashing power would drop anyway as Kentucky, North Carolina, Texas and other states add new incentives for miners:”

“What you’re seeing throughout the country is a bipartisan support of mining and the jobs that they provide. They add stability to the power grid as well.”
Squaring up to the competition
New York is already losing its competition with states such as Kentucky and Georgia for miners. Georgia is the United State’s top state for hashing power. Fortune reported in February that miners may be flocking there for the below-average cost of electricity and the opportunity to offset their emissions with renewable credits. Georgia produces 35.6% of its electricity from nuclear and renewable sources.

Kentucky’s Governor Andy Beshear signed into law last March a tax incentive for Bitcoin miners who set up shop and help support the state’s fledgling renewable energy infrastructure. Kentucky has surpassed New York’s hashing power for third place in the union but produces only 6.6% of its electricity from renewable sources.

Related: IMF recommends eco-friendly CBDCs and non-PoW mechanisms for payments

The controversial mining bill is currently sitting on the desk of New York Governor Kathy Hochul, who has yet to publicly commit to signing the bill. Instead, she noted that her team will be looking “very closely” at the proposal over the next few months.

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Useful Cryptocurrency Resources / Crypto tax calculator Koinly integrates Terra into its platform

« on: April 27, 2022, 12:45:32 PM »

Crypto tax calculation platform Koinly added Terra (LUNA) wallet support to make tax calculation easier for LUNA holders as the Canadian tax report deadline draws near.

Tony Dhanjal, head of tax at Koinly, said that LUNA support has been requested by many Koinly users, and with the integration, LUNA users will have a "way to accurately track and record their transactions to meet their tax obligations."

Calculating crypto tax is easy if a user’s crypto affairs are simple. However, Dhanjal told Cointelegraph that “the average crypto investor is connected to three to five exchanges, wallets or blockchains.” Because of this, working out the taxes using these sources is very difficult and the risks of errors are high. This is why Dhanjal recommends the use of a simple crypto tax calculation tool.

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Useful Cryptocurrency Resources / Elon Musk buys Twitter for $44B — crypto industry reacts

« on: April 27, 2022, 12:44:38 PM »

In the hours and days before Tesla CEO Elon Musk’s purchase of social media giant Twitter, discussions on free speech were common among many online users both in and out of the crypto industry.

Twitter announced on Monday that it will become a privately held company following its board of directors accepting a bid from Musk to purchase the firm’s stock for $54.20 per share in cash — roughly $44 billion. Though the transaction is expected to close in 2022, it is still subject to the approval of Twitter stockholders as well as certain regulators.

In one of his last tweets prior to news of the purchase becoming public, Musk said, “I hope that even my worst critics remain on Twitter because that is what free speech means.” Twitter quoted the Tesla CEO saying “free speech is the bedrock of a functioning democracy, and Twitter is the digital town square.”

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Useful Cryptocurrency Resources / New York legislators to vote on PoW mining moratorium this week

« on: April 27, 2022, 12:43:44 PM »

New York's legislature might ban proof-of-work (PoW) crypto mining in the state for at least two years, citing environmental concerns.

Over the past weekend, on Saturday and Sunday, several crypto advocacy groups — including the Blockchain Association and Crypto Council for Innovation — rang the alarm over the upcoming vote in the New York Assembly. The state Senate's official webpage did not indicate a specific date for the vote.
 bill, S6486D/A7389C, seeks to establish a two-year moratorium on cryptocurrency mining that utilizes a proof-of-work (PoW) consensus mechanism. It would amend the existing environmental conservation law to comply with the 2019 Climate Leadership and Community Protection Act, which implies a 40% greenhouse gas emission reduction by 2030. As the co-sponsors of the bill believe, PoW mining stands in the way of reaching this goal. Hence, they propose a moratorium on mining permits issuance and renewal.

The bill offers some important reservations, though. As one clause goes, “the department shall not approve an application to renew an existing permit [...] if the renewal application seeks to increase or will allow or result in an increase in the amount of electric energy consumed or utilized by a cryptocurrency mining operation.” This could mean that mining businesses' applications seeking to preserve the existing capacities already licensed by the state would not be subject to new restrictions.

Another important caveat is that both moratorium paragraphs are aimed at the “electric generating facilities” that “utilize a carbon-based fuel,” meaning that the proposed legislation would not extend to the operations that use renewable energy in mining. It would, however, cover facilities like Greenidge Generation's converted natural gas power

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Useful Cryptocurrency Resources / City of Fort Worth votes in favor of Bitcoin mining program

« on: April 27, 2022, 12:37:49 PM »

Fort Worth, Texas has launched a pilot program to mine Bitcoin in partnership with the Texas Blockchain Council.

In a Tuesday city council meeting, Fort Worth approved a resolution to start running three Antminer S9 Bitcoin (BTC) miners donated by the Texas Blockchain Council in the city hall building. The pilot program was aimed at recognizing “the exponential growth of the blockchain and cryptocurrency industries” in addition to encouraging Fort Worth to become a tech leader.

"This is a very small opportunity for Fort Worth that has big possible returns on investment," said Fort Worth Mayor Mattie Parker at the council meeting. "We are going to become the first city in the world to mine Bitcoin here on site at city hall."
Source:read