Stablecoins. A cryptocurrency house of cards worth $125 billion.

ByMr. Advice

Stablecoins (tokens such as USDT, USDC, BUSD, DAI, UST, PAX and others whose value is unchanged at $1.00) have become the backbone of the cryptocurrency ecosystem. They play a key role in the functioning of cryptocurrency trading and decentralised finance (DeFi). Their market capitalisation has quadrupled since the beginning of 2021 and now stands at more than $125 billion. However.

Former Reserve Bank official pushes India to accept cryptocurrencies

ByMr. Advice

Former RBI deputy governor sees cryptocurrencies as a taxable asset or commodity. A former deputy governor of the Reserve Bank of India (RBI) has spoken on the country's financial and crypto ecosystem and said that digital assets need to be accepted. Speaking at the inaugural HODL '21 virtual conference organised by the Blockchain and Crypto Assets Council (BACC) on 7 September, Rama Subramaniam Gandhip said,...

El Salvador buys first 200 BTC, confirms President Bukele

ByMr. Advice

El Salvador is the first country in the world to recognise bitcoin as legal tender. Despite opposition from local groups, the government believes the cryptocurrency will be a net positive for the economy and society. Salvadoran President Nayib Bukele confirmed on Monday that his government had bought its first 200 bitcoin (BTC) ahead of Tuesday's introduction of a new law to make the cryptocurrency legal tender. "Our brokers will be buying ...

You can now pay for parking tickets in Bitcoin across Europe

ByMr. Advice

Seety, SHOP.COM and Worldline are the latest companies to accept cryptocurrencies as a means of payment. Belgian digital start-up Seety has enabled its app customers to pay for parking in Antwerp and Brussels using Bitcoin (BTC). In addition to the king of cryptocurrencies, the option includes other digital assets such as Ethereum (ETH) and Dogecoin (DOGE). As reported by local media outlet DataNews, the Belgian app...

Slovenian financial authority proposes 10% tax on revenue from cryptocurrency sales

ByMr. Advice

Slovenian financial authorities have announced a proposal to tax cryptocurrency users, in particular on the activity of selling cryptocurrencies. According to local media, the Financial Administration of the Republic of Slovenia, or FURS, is considering imposing a 10% income tax on cryptocurrency trading in the near future. Under the current legislative method, the authority analyses a person's activity in digital assets in each case with...

3-year sentence for Russian man for stealing friend's cryptocurrency digger

ByMr. Advice

The 34-year-old convict was reportedly unable to use the stolen mining equipment due to a 'lack of adequate knowledge'. Authorities in Russia's Zavolzhsky district have found a 34-year-old resident guilty of stealing cryptocurrency mining equipment worth more than 1.6 million Russian roubles (almost $22,000). According to a report released by the Yaroslavl Region Prosecutor's Office, the prosecutor confirmed that the Yaroslavl resident in February...

DeFi's leading projects launch $100m global adoption initiative

ByMr. Advice

A consortium of leading decentralised finance protocols (DeFi) has announced a $100 million joint funding venture entitled 'DeFi for the People'. The DeFi apps involved in the project - including Aave, SushiSwap, Curve, 0x and PoolTogether - will provide a total of up to $100 million in educational initiatives, grants and incentives to educate people around the world about...

Almost 8% of BitCoin held by corporations

ByMr. Advice

As reported by Bitcoin Treasuries, as many as 1,660,473 BitCoin (BTC) are on the balance sheets of companies and corporations. This is approximately 8% of all Bitcoin that may ever be in circulation. If we take the current number of BTCs that are currently in circulation, it is safe to say that as much as 10% of all Bitcoin is in the hands of companies. The largest holder of Bitcoin among companies is.

Swiss B2B bank InCore launches new tokenisation tool using Tezos

ByMr. Advice

InCore Bank has also announced the upcoming launch of Tezos custody, staking and trading services aimed at financial institutions. Deutsche Boerse-backed digital asset company Crypto Finance AG and Swiss transaction bank InCore are launching a new tokenisation tool based on the Tezos blockchain. InCore Bank officially announced the new partnership with Crypto Finance on Tuesday....

Dogecoin will help real dogs - Chicago animal shelter adopts cryptocurrency

ByMr. Advice

"We want to connect with the growing cryptocurrency community that can help support the future of animal welfare in Chicago and save animal lives," - Susanna Homan, CEO of PAWS Chicago, said. PAWS Chicago, an animal rescue organisation dedicated to ending the use of euthanasia for its resident cats and dogs, is now accepting cryptocurrency donations. In Tuesday's announcement, PAWS...