CoinCodeCap Weekly Glance: 02 April – 08 April

The week started with the good news that Reddit has included ethereum NFTs in its platform. The collection of the NFTs on Reddit is called CryptoSnoos. It features the alien mascot Snoo in contrasting movements and situations based on art history. 

A few officials from the central banks, crypto exchanges, few cryptoprenuers will join a conference hosted by The Bank for International Settlements (BIS). It will be live-streamed from Zurich and the topic of discussion will be “Does Safe DeFi Require CBDCs?”

Good news for Australia, Senator Andrew Bragg announced the country’s intentions to regulate DAOs. The recommendation was put forth in October 2021. The Corporations Act, which establishes criteria for company governance and personality, should be applied to decentralized autonomous groups.

Good news for some people and bad news for some people of Oklahoma, Oklahoma is considering tax incentives for crypto miners of the state. A bill has been proposed by the state senator and the state representative. John Montgomery, the state senator, and Ryan Martinez, the state representative, are sponsoring The Commercial Digital Asset Mining Act of 2022. The aim of the Act is to reduce expenses in mining. 

Federal prosecutors in the Southern District of Florida successfully forfeited approximately $34 million in cryptocurrency. The forfeited cryptocurrency was tied to illegal Dark Web activity in one of the largest cryptocurrency forfeiture actions ever filed by the United States.

A US Representative introduces legislation to prevent El Salvador from adopting Bitcoin, calling the action a “careless gamble.” Despite multiple good reviews from the House and Senate on cryptocurrency, one lawmaker seemed to perceive more disadvantages than advantages in the adoption of Bitcoin in particular.

Singapore imposes new laws on crypto. The Monetary Authority will decide which individuals are fit to perform important financial duties. Financial institutions will now have to pay more taxes.

El Salvador Prez won’t be attending Bitcoin 2022 Conference. Bukele cited “unforeseen circumstances” in his country due to which he had to take this step. People are speculating that this could also point to the increasing gang violence cases as reported in the news of the country. This also made the country go into a state of emergency on March 27. 

Bolt Financial Inc, an online checkout firm, is acquiring cryptocurrency infrastructure provider Wyre Payments Inc. The acquisition will deregulate commerce and facilitate digital shopping. The deal was closed at $1.5 Billion, further details were not disclosed.

Editorial Team
Editorial Team

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