The Crypt0l0g1st publication #005
The Crypt0l0g1st is a curated weekly newsletter regarding Blockchain, web3, defi, gamefi, crypto investments and other.
The Crypt0l0g1st is here to stay! A weekly newsletter to inform you about the main facts of Crypto, BlockchainTechnology , Privacy & Other . The Crypt0l0g1st is 100% independent and does not take any money in the form of sponsorship from anyone, in this way we believe we can make unbiased communication on all events and ensure maximum information. Our commitment is to become the complete and engaging news source every week. Are you ready to go ? Let's go !
Project Icebreaker: Central banks of Israel, Norway and Sweden team up with the BIS to explore retail CBDC for international payments
The Bank for International Settlements (BIS) announced on the 28th that it will launch a joint CBDC (central bank digital currency) demonstration experiment with the central banks of Israel, Norway and Sweden.
The name of the demonstration experiment is "Project Ice Breaker." BIS's Nordic Innovation Hub will participate and explore how CBDC can be used for international retail payments and remittances.
π https://www.bis.org/about/bisih/topics/cbdc/icebreaker.htm
Compute North Files for Bankruptcy as Crypto-Mining Data Center Owes up to $500M
Compute North, one of the largest operators of crypto-mining data centers, filed for bankruptcy and revealed that its CEO stepped down as the rout in cryptocurrency prices weighs on the industry.
The company filed for Chapter 11 in the U.S. Bankruptcy Court for the Southern District of Texas and owed as much as $500 million to at least 200 creditors, according to a filing.
Compute North in February announced a capital raise of $385 million, consisting of an $85 million Series C equity round and $300 million in debt financing. But it fell into bankruptcy as miners struggle to survive amid slumping bitcoin (BTC) prices, rising power costs and record difficulty in mining bitcoin. The filing is likely to have negative implications for the industry. Compute North is one of the largest data center providers for miners, and has multiple deals with other larger mining companies.
β¦ Meanwhile, bitcoin hashrate is growing exponentially.
"USDT," announced on Twitter, the reserve assets as of the end of September
Paolo Ardoino, Chief Technology Officer (CTO) of Tether , which issues the crypto asset "USDT," announced on Twitter, the reserve assets as of the end of September.
U.S. Treasury bonds account for more than 58 percent of the reserves supporting stablecoins, up from 43.5 percent at the end of June. It also said that its holdings in commercial paper were less than $50 million at the end of September and that Tether aims to reach zero commercial paper by the end of 2022.
Commercial paper is an unsecured promissory note issued by a company to raise short-term funds. Issued mainly by blue chip companies for short-term financing purposes, the repayment period is generally less than one year.
Lugano Living Lab on LinkedIn: #Bitcoin #Tether #LVGA
These days some businesses affiliated with the MyLugano circuit are preview testing the new POS that allows them to accept cryptocurrency payments.
As of now you can pay with #Bitcoin Lightning #Tether and the city's stable Coin #LVGA at Mcdonalds restaurant, commercio restaurant, gabbani lugano, bijoux.io and Galleria Marco Lucchetti.
π²If you have already downloaded the app and obtained your mylugano card you also benefit from up to 10% #cashback.
@luganoplanb
https://www.linkedin.com/embed/feed/update/urn:li:ugcPost:6983361695234547712
Zcash blockchain and tripling its size to over 100 GB
Somebody's having fun spamming the zcash blockchain and tripling its size to over 100 GB. Rough estimate is that this attack is costing them ~$10 a day in transaction fees.
ETHEREUM - Unpopular opinion: staking is too difficult for common folk to do
In the Ethereum subreddit, a member brought up the topic of ETH staking and its difficulties. According to the user, it took an entire weekend just to set it up.
In addition to the difficulties in setup, the issue of high bandwidth consumption was also raised, with one user stating that the risk of experiencing an outage from their Internet provider is present.
Another user stated that the costs of exceeding the Internet data cap can wipe out the gains from staking.
Another, argued that staking is not designed to be simple for everyone.
https://www.reddit.com/r/ethereum/comments/xtn5ll/unpopular_opinion_staking_is_too_difficult_for/
Celsius Network gave out all the data about the transactions of their users
Crypto Lending Platform Celsius Network has published 14,000 pages of data containing the full name and timestamps of all user transactions, including deposits, withdrawals and liquidations.
β‘οΈ EU Economic Commission approves MiCA cryptocurrency law
The Economic Commission of the European Union (EU) has approved a draft law complete with regulations on cryptocurrencies : "MiCA" .
The Economic Commission reported that the final vote was 28 in favor and 1 against. This was also confirmed by Stefan Berger, MEP, who led the MiCA negotiations on behalf of the European Parliament.
MiCA stands for "Market in Crypto Assets" and is a proposed comprehensive regulation on cryptocurrencies announced by the EU in September 2020. It will focus on stablecoins and other digital asset transactions and will have licensing and consumer protection requirements.
Portuguese government increases tax rate for cryptocurrencies
It turns out that the 2023 budget proposal submitted to the Portuguese parliament has added an item on the taxation of cryptocurrencies (virtual currencies). This was reported by local newspapers and Bloomberg.
From 2019, Portugal will exempt cryptocurrencies from VAT and income tax. However, the document presented on the 10th includes a provision that from the next tax year, "capital gains obtained from the exchange of cryptocurrencies held for a period of one year or less" will be taxed at 28 percent.
In addition, a 10 percent tax is imposed on sending and receiving virtual currency and a 4 percent tax on virtual currency transactions through brokers (intermediaries).
In addition to cryptocurrency trading, income from cryptocurrency-related activities will also be subject to new taxes, including mining and cryptocurrency issuance.
Ripple has partnered with Lemonway and Xbaht to leverage its On-Demand Liquidity (ODL ) solution to offer crypto payments across Europe.
https://coinmarketcap.com/headlines/news/ripple-partners-with-lemonway-xbaht-to-bring-odl-payments-to-europe/
Google selects Coinbase to take cloud payments with cryptocurrencies and will use its custody tool
Google (https://www.cnbc.com/quotes/GOOGL/) said Tuesday that it will rely on Coinbase (https://www.cnbc.com/quotes/COIN/) to start letting some customers pay for cloud services with cryptocurrencies early in 2023, while Coinbase said it would draw on Googleβs cloud infrastructure.
GOVERNMENT OF DOMINICA ENTERS INTO AGREEMENT WITH TRON TO ADOPT BLOCKCHAIN TECHNOLOGY
the Government of Dominica entered into an agreement with TRON following the passage of legislation an agreement with TRON following the passage of the Virtual Assets Act in May 2022.
This is a historic step for Dominica in its efforts to improve economic growth through digital innovation.
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