The Bahamas Prime Minister's Office is looking into enabling tax payments with cryptocurrencies and its CBDC, the Sand Dollar, this year. This and more news is in this handy daily roundup so you're always up to date with the latest developments in the crypto world.
Bitcoin and Blockchain Adoption
📍Bahamian residents will be able to pay taxes with cryptocurrency this year. The government of the Bahamas has informed that its citizens could start paying taxes using cryptocurrencies this year, alongside the country's central bank digital currency.
According to the announcement, made by the office of the Prime Minister of the Bahamas, the initiative seeks to promote the adoption of cryptocurrencies, and create new use cases for its digital currency CBDCIn addition to this, the Bahamian government announced that it will create a digital asset policy committee, as well as a digital advisory panel, which will allow all branches of government to approach new technologies, in order to transform the Bahamas into the main digital asset hub in the Caribbean.
📍SFLMaven Corp will begin accepting Bitcoin as a payment method in its stores. Customers and users of the luxury goods company SFLMaven Corp will be able to use cryptocurrencies, such as Bitcoin (BTC), as a payment method in its physical and virtual stores. SFLMaven Corp, which made its entrance into the metaverse in February of this year, is opening the door to cryptocurrencies as a new alternative form of payment, to offer more options to its clients and consumers.
Joseph Ladin, CEO of SFLMaven, commented that he is excited to begin accepting Bitcoin as a valid form of payment in the company's physical and virtual stores, which will allow it to further expand its presence in the crypto industry and in the Metaverse.
Miners and Node Validators
📍Sanctions imposed on Russia lead US company Compass to sell its Bitcoin mining equipment. Crypto mining company Compass, which has a branch in Russia, is selling all of its mining equipment valued at more than $30 million, according to a report report from Bloomberg.
It appears that the Bitcoin mining company is trying to avoid sanctions for operating from Russia by the US government. Recently, its namesake BitRiver was sanctioned by the US government for maintaining its active operations in the country. The US government reported that BitRiver's mining operations could be helping the Russian government to evade sanctions imposed since it started its war against Ukraine.
Innovation, Development and Technology
📍Twitter content creators will now be able to receive USDC payments on Polygon thanks to Stripe. Twitter will add a new cryptocurrency monetization option for its content creators through the company Stripe. The social media platform is integrating Stripe's payment function into the stablecoin USD Coin (USDC).USDC), through the Ethereum scalability network, Polygon Network.
In this way, Twitter will expand the options that creators have to monetize their content on the social network. In addition to USDC, creators can also receive payments using the main cryptocurrencies on the market, Bitcoin (BTC) and Ethereum (ETH).
📍The French president foresees a “hopeful” future for innovation and technological development. In a interview Given to Big Whale, French President Emmanuel Macron said that Web3 is an “opportunity that must not be missed.” Answering questions from the interviewer, the French president stressed the importance and opportunities for France and Europe to lead future generations of the web and move towards a technological and innovative future.
Macron also noted that there are still many challenges to overcome in the technology industry. He also expressed concern that the country and the continent do not fall behind giants such as the United States or China. By 2030, he said he hopes to have spurred the creation of 100 French unicorns and 10 European tech giants.
Rules and Regulations
📍Uniswap blocks user addresses for allegedly being involved in illicit activities. The decentralized finance protocol (DeFi) Uniswap has begun blocking user addresses that are associated with any illegal activity.
On Twitter, several users have made public that their cryptocurrency addresses have been blocked by the DeFi protocol.
From Uniswap, the developers they explained The move is intended to mitigate the use of cryptocurrencies in illicit activities. The DeFi protocol is using crypto surveillance tools developed by TRM Labs to identify addresses associated with financial crimes and other illicit activities.
“It is Uniswap Labs’ policy to prevent people engaged in illegal behavior from using our application,” the developers commented in their Q&A section regarding address verification. The news has not been well received by the crypto community, as it undermines privacy and decentralization. Uniswap is currently the largest decentralized exchange or exchange DEX most used in the entire crypto world.
Continue reading: Ukraine restricts the use of the hryvnia in the purchase of Bitcoin and other cryptocurrencies
