Italy Will Impose Crypto Gains Tax at 26% Starting in 2023
According to Bloomberg, Italy will begin taxing capital gains from cryptocurrencies at a rate of 26% from 2023 on. The country’s lawmakers are proposing the tax levy in its 2023 budget plans. The tax will only apply to profits greater than 2,000 Euros.
UNI Rallies As Uniswap’s Active Addresses Hit 19- Month High, Here’s Why
Amid the crypto market bounce back this week, altcoins have been showing strength with big gains. One altcoin that stands out is UNI, the native cryptocurrency of Ethereum-based decentralized exchange (DEX) Uniswap.
Ripple Unlocks 900M XRP From Escrow After A 2 Months Pause
Ripple today resumed its monthly XRP escrow unlocks after an unexplained two months break.
Binance Users Head Out of the Exchange After FTX Collapse
Starting from November 7th, the BTC Netflow indicator (Inflow — Outflow) on the Binance exchange began to fluctuate wildly. On November 11, it reached a record low for the month. Users have withdrawn more than 42 thousand BTC from the platform.
Manitoba Halts New Crypto Mining Projects Due to Expected High Energy Demand
Authorities in Manitoba are temporarily suspending the connection of new crypto-mining facilities to the power grid. The Canadian province, which relies heavily on hydroelectric generation and attracts miners with low electricity rates, fears it may face overwhelming energy demand. (Bitcoin.com)
Shiba Inu Army Burns 666 Million Shib In November
Over 666.90 Million Shiba Inu (SHIB) burned in November.
Legal Professionals Astonished as SBF Admits Failures, Apologizes 12 Times in Interview
n a wide-ranging video interview, Bankman-Fried was asked to answer a number of questions surrounding the downfall of the now-defunct exchange, with some even suggesting that some of his statements could be used to incriminate him in legal proceedings. In a Nov. 30 Twitter post, crypto attorney Jeremy Hogan, Partner at Hogan & Hogan said that the “light cross-examination” of Bankman-Fried at the DealBook Summit has already returned “at least 3 incriminating statements so far.” (Cointelegraph)
North Korea is Yet Another Victim of FTX collapse, Analyst Says
The collapse of FTX.com and its far-reaching impacts will hinder North Korea’s ability to profit from cryptocurrency hacks, Troy Stangarone, senior director at the Korea Economic Institute of America (KEI), wrote in the online news magazine The Diplomat. North Korea has been funding its nuclear and ballistic missile programs with profits from cyberattacks on crypto exchanges, Reuters reported earlier this year, citing a confidential United Nations report. (forkast)
Meta’s Mark Zuckerberg is Still Optimistic About the Metaverse
Meta Platforms Inc., Chief Executive Officer Mark Zuckerberg, said that he remains optimistic about the future of the metaverse over a “five-to-ten-year horizon” despite widespread skepticism of his company’s venture into the technology, he said during the New York Times DealBook Summit on Wednesday. Users continue to criticize the platform’s graphics and lack of inspired activities to do there. “Congratulations to Mark Zuckerberg for upgrading his Metaverse avatar from looking like a creepy PS1 era model to an Xbox360 default avatar,” wrote one Twitter user. (forkast)
Troubled Hong Kong Crypto Exchange AAX Unlikely to Reopen, Says Former Executive
Hong Kong-based crypto exchange AAX is likely to end operations and restructure, its former vice president for global marketing and communications, Ben Caselin, told CoinDesk TV on Wednesday in his first interview since he announced his resignation on Monday. AAX is the latest in a series of liquidity crunches following Sam Bankman-Fried’s FTX exchange filing for bankruptcy on Nov. 11 and freezing accounts and funds for as many as a million users. Cryptocurrency exchange BlockFi declared bankruptcy on Tuesday. (forkast)
