Kadena CEO Stuart Popejoy on blockchain design: proof of work is a feature, not a flaw
The former JPMorgan executive shared how he learned to love crypto and why the Kadena is not letting go of its firm embrace of proof of work.
The former JPMorgan executive shared how he learned to love crypto and why the Kadena is not letting go of its firm embrace of proof of work.
Trademark applications filed this year covered various disparate sectors.
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According to the FSOC, issues at FTX had “precipitated price decreases in Bitcoin and other crypto-assets” but “had a limited impact on the broader U.S. financial system.”
Bullish crypto momentum fizzled after Fed Chair Powell poured cold water on investors’ hopes that a positive CPI report would trigger a trend change, but higher time frames remain interesting.
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While billions of dollars in crypto assets have been withdrawn from Binance, the world’s largest exchange in terms of volume, the stablecoin BUSD has seen its coins in circulation drop considerably during the last three days. While 20% of BUSD’s supply was drained since last month, statistics show that 14.77% of the reduction took place […]
Presently Japanese crypto firms pay a set 30% corporate tax rate on their holdings, regardless of whether or not they made a profit. Due to this stringent tax law over the past years, some local crypto firms reportedly chose to move their business elsewhere. Related Reading: Solana: This Minor Hiccup Didn’t Discourage Investors From Acquiring SOL – Until Today This development has impacted the country’s economic growth, and the LDP, having identified it as its primary task, wants to set things right. The Liberal Democratic Party (LDP) of Japan addresses issues with administrative reform and collaborates with the U.S. to enact defensive and foreign policies. The term Administrative Reform refers to multiple themes in the nation. An example of such themes is adopting measures like tax reform to stand the test of economic strain. Japan Set To Ease Stringent Tax Rules In line with its objectives to promote fast economic growth, the Japanese ruling party’s (LDP) tax committee held a meeting on December 15. The meeting was to deliberate on tax reforms. While at it, they approved an August-tabled proposal. The proposal seeks to remove taxes on crypto companies’ paper gains from issuance or custody tokens. The Japanese government seeks to ease tax requirements on domestic crypto firms to facilitate the growth of the tech and finance sectors. Submission of more lenient crypto tax laws to parliament will commence in January and will take effect in the next financial year beginning in April. LDP lawmaker and member of the Web3 policy office, Akihisa Shiozaki, spoke on the recent development in an interview with Bloomberg. Shiozaki noted that the move is a step forward in the economic reforms. He added that it would allow more companies to start token issuance businesses. Related Reading: Bitcoin Price Crystal Ball – What Happens To BTC After Christmas 2022? Japan’s Passion For Digital Currency Remains Unfazed Despite Crypto Winter The new move from the Japanese government suggests it is keen to promote and foster the growth of the domestic crypto and Web3 sector. It also indicates that the current bearish trend in the crypto industry, including FTX’s crisis, did not affect its interest in blockchain technology. Japanese Prime Minister, Fumio Kishida, hammered on the roles of NFTs, blockchain, and Metaverse in the county’s digital evolution in a statement in October. He cited practical examples using the digitization of national identity cards. In October, the Japan Virtual and Crypto Assets Exchange Association announced plans to ease the strict screening process for listing tokens on exchanges. Kishida addressed this issue in June, asking the organization to loosen its stringent rules on the screening process. Some top leaders in the private sector also shared the same thoughts with the Prime Minister. On December 8, Sumitomo Mitsui Financial Group (SMBC) announced an ongoing project to explore use cases of soulbound tokens (SBTs). SBTs were part of Vitalik Buterin’s, co-founder of Ethereum, proposal to use tokens to represent people’s digital identity.
With the collapse of FTX, the crypto markets are down. The collapse was "plain old-fashioned embezzlement" with nothing to do with crypto itself. Regulation seems to be one of the main talking points of the hearing. In your opinion, do you think this is the push we need to make the people take regulation seriously…
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The top 100 DeFi token had a mixed week with majority of them losing bullish momentum from the last week.