Author: NBTC
A coalition of Nigerian civil society organizations has applauded the plan by Zacch Adedeji, head of the Federal Inland Revenue Service, to include cryptocurrencies in the tax system. The CSOs believe this move will boost confidence in the crypto market and attract foreign investors. The CSOs believe a regulatory framework specifically designed for cryptocurrency trading is crucial for the effective management of the sector. Nigerian Tax Laws Outdated for Digital Economy A coalition of Nigerian civil society organizations (CSOs) has praised Zacch Adedeji, the executive chairman of the Federal Inland Revenue Service (FIRS), for his proposal to integrate cryptocurrencies into…
Kraken, a major US-based cryptocurrency exchange, has added to Shiba Inu (SHIB) as new collateral for futures contracts. The second-largest meme cryptocurrency can now be used in order to gain exposure to more than 200 perpetual futures. Apart from SHIB, dogwifhat (WIF) and Bonk (BONK) can now also be used as collateral. In order to use any of these three tokens as collateral, traders have to transfer them from their spot wallet to their futures wallet. Kraken makes it possible for traders to deposit several collateral currencies into a single wallet. The list of collateral currencies includes fiat currencies like…
Since March, Bitcoin’s price has been consolidating in a wide range and gradually declining. This rangebound movement might eventually lead to a long-term bullish trend. Technical Analysis By TradingRage The Daily Chart On the daily chart, the price has recently broken below the 200-day moving average, located around the $63K mark. Yet, the market has rebounded from $50K and has retested the 200-day moving average but has been rejected to the downside. Currently, the price is likely to test $56K. If the level holds, the market could once again rally toward the 200-day moving average and probably higher, which could…
The crypto market is continuously evolving, with diverse projects witnessing huge growth. PHOENIX, a famous crypto analytics firm, disclosed that many projects have expressed top performance in August, indicating significant potential and resilience. The analytics provider took to its official social media account to provide statistics about these projects. BEST PERFORMING PROJECTS IN THE LAST MONTH$SUN $KSP $VIDT $ATR $RARE $ZANO $PORK $VITE $ALPACA $YFII $TLOS $INSP $HNT $NULS $BSW pic.twitter.com/mH7U2GCfpQ — PHOENIX – Crypto News & Analytics (@pnxgrp) August 31, 2024 $SUN Tops the High-Performing Crypto Projects Over The Last Month In its list, PHOENIX placed $SUN in the…
Kamala Harris, the current vice president of the United States and the Democratic candidate for the 2024 presidential election, faced criticism over her plans to tax unrealized capital gains. CNBC’s “Squawk Box” hosts, Rebecca Quick and Joe Kernen, were vocal in their opposition, calling the proposal ‘unfair’ and ‘unconstitutional.’ Bharat Ramamurti, one of the unofficial economic advisers to the Harris’ campaign, defended the Biden-Harris plan, but the hosts remained unconvinced. Quick compared the proposal to ‘pulling forward the taxes that would be paid later when someone sells the stock.’ Ramamurti responded: “I think that this reaction to unrealized gains is…
Bybit has launched a new update that waives foreign exchange fees for Mastercard holders in seven European countries. This service is available for users in Poland, Bulgaria, Croatia, the Czech Republic, Denmark, Sweden, and Hungary. According to an exchange statement, this offering aims to enhance user experience by offering seamless, cost-effective financial solutions. Effective immediately, Bybit Cardholders can make purchases in local currencies, PLN, BGN, HRK, CZK, DKK, SEK, and HUF, without incurring the standard 0.5% FX fee. This update is particularly advantageous for frequent travelers and those conducting business across these regions, as it eliminates the concern of hidden…
Bitcoin miners faced their most challenging revenue month of the year in August, marking the lowest earnings since September 2023. Onchain fees collected in August also dipped, reaching a low not seen since last year, with a $4.14 million drop compared to July. August Bitcoin Mining Revenue Drops $99.75M Lower Than July The ongoing effects of the Bitcoin halving are keeping miners on their toes, with hashprice staying low and onchain participants shelling out minimal fees. Data from theblock.co reveals that miners experienced their leanest month of earnings in 2024 so far. A total of $851.36 million was generated between…
Norway’s sovereign wealth fund, Norges Bank Investment Management (NBIM), recently increased its indirect Bitcoin holdings by 938 BTC due to sector weighting and risk diversification rules—not a targeted move towards more cryptocurrency. This increase in holdings has been driven by greater stakes in companies like MicroStrategy, Marathon Digital, Coinbase, and Block Inc, reflecting Bitcoin’s growing significance in diversified investment portfolios. As Bitcoin continues to gain acceptance, it underscores the broader trend of integrating cryptocurrency into mainstream financial strategies. Norway’s sovereign wealth fund expands Bitcoin holdings, reflecting the growing importance of cryptocurrencies in diversified investment strategies. Discover the key factors driving…
Former Goldman Sachs analyst Murad Mahmudov has predicted that dogwifhat (WIF) is going to be a Solana-based meme coin that is set to outperform in 2025. The analyst pointed out to the fact that the WIF community has the most impactful and efficient holders with at least $1K. According to CoinGecko data, WIF is currently the fourth-biggest meme coin with a market cap of $1.47 billion. The meme cryptocurrency is currently changing hands at $1.48 after slipping by nearly 2% over the past 24 hours. WIF to $88? Cryptocurrency research firm Cryptonary recently predicted that the price of Dogwifhat (WIF)…
Famous wealth advisor Mickle says Judge Torres’ decision concerning the secondary market trading of XRP does not establish a binding precedent for other courts to follow. Mickle made the assertion while reacting to a comment from famous crypto YouTuber Wendy O, who acknowledged the importance of XRP’s non-security status in the secondary market. According to Wendy O, this classification is important to the broader crypto and NFT (non-fungible token) industry. The comment suggests that the classification could impact how other digital assets could be treated. The Issue Reacting to the development, Mickle said the only problem with the “ruling” is…