NFT.Storage is Filecoin's new platform for decentralized off-chain storage of NFT tokens. This and more news in this handy daily digest so you're always up to date with the latest events happening within the crypto world.
Bitcoin and Blockchain Adoption
📍The Resorts World Las Vegas announces which will soon begin allowing its guests to use cryptocurrencies and digital assets within the casino resort, to enhance their user experience. Resorts World said it wants to become one of the most crypto-friendly resorts on the Las Vegas Strip, offering guests the convenience and security of using cryptocurrencies.
📍Goldman Sachs leads $15 million Series B funding round of Coin Metrics. The cryptocurrency financial intelligence company announced Its most important participant was the American bank Goldman Sachs, as well as other important firms.
Coin Metrics said that the funds acquired in this round of financing will be used to improve its blockchain data and analysis tools, the solutions it offers to different companies and to expand its service offering in Europe and Asia.
NFT and DeFi Markets
📍Filecoin launches a new decentralized platform for data storage NFTIn a recent announcement shared on Twitter, decentralized blockchain storage protocol Filecoin announced the launch of NFT.StorageAccording to the creators, it is a new decentralized digital platform that will allow users and NFT token holders to store their non-fungible assets off-chain, thus keeping them highly secure.
NFT.Storage uses the technology of IPFS, Inter Planetary File System or Interplanetary File System.
📍 The auction house Sotheby's announced its second NFT auction, and this time it brings to its prestigious marketplace the world-renowned “NFT never created”, “Quantum” by Kevin McCoy. In the releaseSotheby's notes that Quantum is timestamped 05-03-2014 09:27:34 and is universally regarded as the first NFT ever created.
📍The cryptocurrency investment firm P, and the famous DJ and music composer 3LAU, participated in the investment round of showtime, a project that seeks to build an NFT social networking platform, where users can interact and share their non-fungible tokens. Showtime is a digital platform created by Alex Masmej, known for tokenizing himself last year.
CBDC and Central Banks
📍The Central Bank of Kazakhstan (NBRK) opened one public consultation to know the general opinion regarding the creation of a digital currency CBDC for the country. The bank reported that making the decision to create a CBDC that works as a complement to the current financial system requires the participation of the financial market, the community of experts and international partners.
The entity wants to know the benefits and risks of issuing a digital currency, as well as what the method for issuing and distributing it should be, what technology will be used, and the impact it will have on monetary policy, financial stability, and the country's payment ecosystem.
Miners
📍Data released by F2Pool co-founder, Chun Wang, highlight that China's dominance over Bitcoin mining power is declining compared to pools located in the United States.
📍Meanwhile, in South Korea, a local media outlet informs that cryptocurrency miners could begin to enjoy tax exemptions, deductible from their energy expenses starting in 2022, when the future crypto tax law is implemented.
According to statements from the South Korean Ministry of Economy and Finance, profits of more than 2,5 million won, or about $2.230, obtained from cryptocurrency trading will be subject to 20% tax. While miners, or any expenses associated with mining activity, will be tax deductible.
Development and Technology
📍The project of Digital Identity (DIDI) announced which will provide funding for the promotion of projects focused on ID, up to 50.000 dollars. In its press release, the project explains that the call is open for projects that are developed in Argentina.
Rules and Regulations
📍The United States District Court for the Northern District of California authorized al United States Internal Revenue Service (IRS) to demand from several exchanges and local cryptocurrency exchange platforms, the confidential data of their clients and users, and the list of transactions carried out within the platform, to identify all holders of cryptocurrencies and digital assets with commercial operations exceeding $20.000 between 2016 and 2020.
With this measure, the IRS seeks to force cryptocurrency holders to comply with their tax obligations in the country, and reduce tax evasion. On the other hand, a report Coinbase's transparency report notes that the IRS, FBI, HSI and other US, German and UK government agencies requested customer and user data 4.227 times in 2020.
📍The current SEC Chairman, Gary Gensler, believes it is necessary for the United States Congress to implement a new regulatory framework for cryptocurrencies and digital assets. During his participation in the The hearing At a House Financial Services Committee hearing on Thursday, Gensler stressed that a new, clear regulatory framework for the crypto industry will provide a high level of confidence for investors by offering and ensuring protection against fraud or manipulation, which will attract a greater number of investors to the digital industry.
Gensler also stressed that the authorization and creation of a regulatory framework for the crypto industry is the responsibility of Congress, not the SEC, which will not overstep its functions under its mandate.
Continue reading: Bitcoin and Ethereum to make history at Sotheby's with physical Banksy artwork
