Category: Cryptocurrency

6th September,2024, Wyoming

Japan’s Financial Services Agency (FSA) is interested in the VAT or value-added tax that was proposed in a flat 20% taxation on any gains made from cryptocurrencies like Bitcoin similar to the application of the taxes on share profits. At the moment, crypto profits and gains are subjected to tax rates ranging from 15% to 55% with the additional 35% for every ¥200,000 ($1,377) of profits made. Some of the criticism has already prompted debate over reforms as many blames the present system for reducing the motivation to invest.

The proposal presented by the FSA intends to regulate cryptocurrency in the same way as an ordinary financial instrument which will be beneficial for the holders of cryptocurrencies. This is backed by the Japan Blockchain Association, who stressed that reductions in taxes would further the growth of investment in the sector.

If adopted by the Japanese parliament then new taxation structure might come into force from the year 2025 and would come as a great tax exemptions for both the personal users and companies with bitcoin exposure.

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Solana (SOL) is making headlines once again, as new developments and partnerships strengthen its position in the blockchain world. From growing adoption in decentralized finance (DeFi) to increasing use cases in NFTs, Solana has become a favorite for projects looking for speed and scalability.

Recently, partnerships with major platforms and developers have further fueled interest in Solana, bringing fresh utility to the network.

For traders and blockchain enthusiasts, this is a moment to watch. Solana’s performance continues to attract attention as it scales up its ecosystem, offering faster transaction times and lower fees than its competitors. This makes it appealing for projects requiring high throughput, such as gaming, finance, and real-world asset tokenization.

While challenges like network outages and scalability concerns have cropped up in the past, Solana’s community and developers are working hard to address these issues. With its focus on innovation and expanding partnerships, the blockchain is setting itself up for long-term success.

As Solana continues to evolve, the future looks bright for this high-performance blockchain.

Keep an eye out for upcoming projects, it might just be the next big thing in crypto.

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Bitcoin (BTC) is seeing a major slowdown in activity, with transactions plunging 30% over the past six months. The decline is tied to fading investor interest, as the once king of crypto struggles to hold attention amid stagnant prices.

With BTC hovering in a narrow range, traders and investors are shifting focus to more dynamic assets, leaving Bitcoin’s transaction volume in the dust.

For crypto enthusiasts, this could be a warning sign. As the market moves quickly, it’s important to stay ahead of trends. Bitcoin may be the OG, but its recent performance suggests the crypto space is evolving, and diversification could be key to maximizing gains.

What’s behind the slump? Analysts point to a combination of macroeconomic factors, including inflation worries, regulatory scrutiny, and Bitcoin’s limited utility in day-to-day transactions.

While Bitcoin still holds value as a store of wealth, its transactional use is being outpaced by other cryptos with faster and more scalable networks.

This decline marks a pivotal moment for Bitcoin, as its dominance continues to be challenged. Keep an eye on how this plays out.

Bitcoin’s next move could determine whether it remains a cornerstone of the crypto world or starts to fade into the background.

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The FBI has issued a warning about North Korea’s growing cyber threats targeting the crypto industry. North Korean hackers are using advanced social engineering tactics to deceive employees of crypto businesses, including DeFi applications, and deploy malware to steal funds.

The agency highlighted a focus on crypto ETFs, signaling potential future attacks. Even companies with strong cybersecurity measures are at risk due to the sophistication of these schemes.

The FBI recommends businesses use multi-factor authentication, avoid storing wallet info online, and report suspicious activity immediately.

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The Swiss based Zürcher Kantonalbank (ZKB) has now partnered with Crypto Finance to provide the brokerage of crypto assets. With the help of this, the clients of ZKB will be able to buy and sell Bitcoins and Ethereum using the bank’s mobile applications and electronic banking services.

Switzerland-based Zürcher Kantonalbank (ZKB) will deploy crypto asset brokerage services through cooperation with Crypto Finance. Through this partnership, ZKB is now is enacting a cryptocurrency trading service to enable its clients to buy and sell Bitcoin or Ether using the bank’s mobile application and eBanking.

In goal, it seeks to enhance Switzerland’s status as a global hub for financial technology and bring digital assets into the conventional finance. Peter Hubil, who is the head of digital asset solutions in Zurich Cantonal Bank – ZKB, lauded Crypto Finance’s experience in the area, and in a similar sentiment, Crypto Finance’s CEO, Stijn Vander Straeten, said that the development was to mark a crucial step in the country’s acceptance of digital assets.