SINGAPORE TAXES INCOME EARNED FROM NFT TRANSACTIONS
Income tax registration in Singapore will be determined depending on the nature and use of the NFT.
Chapter 4. Fundamentals of technical analysis
What is a long position (purchase)?
A long position implies the purchase of an asset based on the growth of its value. Long positions are often used in the context of derivatives products and the foreign exchange market, but they are applicable to almost any asset class or market type. Buying an asset on the spot market in the hope of an increase in its price is also a long position.
Chapter 2. Financial Markets and Trading Instruments
What is a financial instrument?
To put it simply, a financial instrument is an asset that can be traded. Examples can be cash, precious metals (such as gold and silver), documents confirming ownership of something (for example, business or resources), the right to supply or receive cash, and much more. Financial instruments can be complex, but the basic idea is that, whatever they are and whatever they represent, they can be traded.
The governor of the Central Bank of the Philippines, Benjamin Diokno, said that the bank will not launch its own digital currency, since most citizens of the state prefer to use cash.
In September, the Central Bank of the Philippines Bangko Sentral ng Pilipinas (BSP) began exploring the possibility of launching a digital Philippine peso to improve the quality of financial services. However, in a recent speech, BSP manager Benjamin Diokno said that the central bank does not plan to launch it in the near future. He explained that the vast majority of the country's residents prefer to use cash, and are heavily dependent on it. In addition, settlement systems in their current state allow for fairly efficient payments in the country, Diokno said.
Cryptocurrency ownership is growing, but investors are not abandoning traditional financial services due to the growing interest in crypto assets. On the contrary, crypto investors are more likely to use multiple financial service providers than the general population, according to a recent report by the global business analytics company Morning Consult.
Mining company BIT Mining Limited has abandoned plans to build a data center for mining cryptocurrencies in Kazakhstan due to problems with energy supply in the country. This is stated in the company's documents.
It is reported that the company's equipment located at other sites in the country will continue to operate in the country.
In January 2022, bitcoin miners earned 20% less than their colleagues engaged in Ethereum mining
January turned out to be a difficult month for bitcoin miners. According to a BeInCrypto study, they earned $1.2 billion in a month. Although the figures seem impressive, total revenue for the month decreased by $220 million compared to December 2021 — a drop of 15%.
It looks like Georgia will be the last US state to consider potential tax breaks for cryptocurrency miners.
Georgia House Bill 1342, introduced on February 14, aims to "exempt from the sale or use of electricity used for commercial mining of digital assets." It was introduced by a quintet of Republican deputies.
This step is designed to maintain the profitable profitability of the stablecoin savings protocol at about 20% per year.
In a tweet posted early Friday, Do Kwon, founder of Terraform Labs, an organization developing the Terra Luna (LUNA) and Terra USD (UST) stablecoin ecosystem, announced an infusion of 450 million UST ($450 million) into the Anchor protocol reserves.