In the United States, the IRS has issued a new series of tax request letters to cryptocurrency users and holders. Since September last year, the IRS has been encouraging digital asset users to comply with their obligations as taxpayers. This and more news in this handy daily summary so that you are always informed with the most recent events that occur within the crypto world.
📍The United States Internal Revenue Service (IRS) issued a series of letters warning users and holders of cryptocurrencies, and digital assets on paying taxes in the United States. According to CoinTraker.io, a company dedicated to providing services related to crypto assets, the IRS is sending a new wave of letters to all of its clients and cryptocurrency users. The source reported that one of the platform's clients sent them evidence about these letters, which were issued on August 14 of this year. The letters sent by the IRS seek to encourage users and cryptocurrency holders to file taxes correctly with the entity, before the IRS orders an audit of those who are considered to be hiding their funds.
📍The Bank for International Settlements, also known as BIS, presented a report titled “Central Bank Digital Currency Development: Momentum, Focus, and Technology” in which he states that central bank digital currencies (CBDC) are increasingly developing as a way to complement fiat money. According to the BIS report, CBDCs are not designed to replace or eliminate the use of cash, but thanks to their characteristics, the new digital currencies issued by banks have the potential to promote and drive effective innovation by central banks and governments towards the development of new technologies and towards the consolidation of a new model of digital financial system.
📍In China, it seems that the currency of the digital yuan will be launched during the celebration of the Olympic Games in Beijing 2022. According to the statements de Sun Guofeng, head of the Monetary Policy Department of the People's Bank of China (PBoC), the launch of the CBDC may take place during the games. Meanwhile, the official stated that the Asian nation will maintain its monetary policy.
📍Although many experts predict the fall of Ethereum at a value close to $300 USD, others assure that the cryptocurrency will reach a value equal to or greater than $500 USD. As of the date of this publication, Ethereum shows a drop in its value of more than 5%, reaching $380 USD per unit due to the influx and increase in the selling pressure of the cryptocurrency, which caused ETH to break its value below $400 USD.
📍In Spain, technology blockchain is being implemented in the food sector to give greater confidence and security to this industry. The initiative goes hand in hand with the nuts company calconut, which is implementing a blockchain-based system that will allow its customers to know detailed information about the origin of the products, as well as the distribution process and the supply chain. Blockchain innovation in the food sector will allow this industry to have a higher level of transparency, security and reliability in all its production processes.
Continue reading: OSL Digital Securities becomes the first audited exchange in Hong Kong
