The UK government is seeking public opinion on how to tax loans and staking for crypto assets in the context of decentralized finance (DeFi). The government is particularly keen on learning more about the taxes on crypto-asset loans and...
Despite warning against cryptocurrencies, the International Monetary Fund (IMF) has pointed out that digital assets could be useful replacements for traditional financial instruments. According to a blog post, some cryptocurrencies and central bank digital currencies (CBDCs) may be more...
As we eagerly await the transition to a more secure and censorship-resistant website that gives users complete control over their data, it is critical to understand how we can profit from this new decentralized internet. The fantastic thing about...
The issuer of the largest US dollar-pegged stablecoin, Tether, announced in a press statement that it plans to expand its services by introducing GBPT, a stablecoin pegged to the British pound. The token, scheduled for launch in July, will...
Circle Internet Financial, the company behind USD Coin (USDC), announced the introduction of Euro Coin (EUROC) on June 16. Euro Coin is a stable coin tied to the euro that will be available to the general public starting June...
There are various types of cryptocurrencies, each with its own set of characteristics. Some cryptocurrencies are designed to be utility tokens, which means they can only be used within the issuing ecosystem. A cryptocurrency may be a DeFi token,...
On-chain data shows that Inverse Finance, an Ethereum-based DeFi protocol, was hacked for more than $1.2 million in cryptocurrencies on June 16th. The exploiters committed the atrocity by using a flash loan attack to fool the protocol and steal...
DeFi is a rapidly growing blockchain sector with enormous potential. Decentralization technologies have the potential to totally transform the financial system, making it safer, more open, and less expensive for end-users. Every year, more and more people learn about...
In the wake of the collapse of TerraUSD, an algorithmic stablecoin, it was widely expected that financial regulators would take swift action to set some ground rules for stablecoins. (See “Terra LUNA 99% Crash: How Did It All Go...
On 8 June 2022, the New York State’s Department of Financial Services (DFS) issued a Regulatory Guidance on Baseline Criteria for USD-Backed Stablecoins. The Guidance applies to entities licensed by the DFS to engage in virtual currency business activity (so-called “BitLicense”)...
