In a recent announcement, the Swedish tax authority, Skatteverket, made significant rulings on the Value-Added Tax (VAT) treatment of Non-Fungible Tokens (NFTs). With the growing economic importance and interest in NFTs within the digital realm, the authority clarified that the standard 25 percent tax rate applies to NFTs associated with digital works. The ruling highlights
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Solana meme coins have been making waves in the cryptocurrency market recently, with SLOTH being one of the standout performers. While Bitcoin and Ethereum have seen modest gains of around 4% and 7% respectively, Solana has lagged behind with only a 1.7% increase in value over the last 24 hours. This has led to other
In the first quarter of 2024, Ethereum and its Layer 2 scaling solution, Polygon, emerged as the top contenders in attracting new users to their blockchain platforms. According to the latest report by Flipside, Ethereum and Polygon collectively acquired a substantial number of new users, with Ethereum gaining 13.4 million and Polygon boasting 12.3 million.
The Cardano (ADA) network has recently achieved a significant milestone in terms of the number of transactions processed. Data from Cardano’s weekly development report indicates that the network has processed 88.6 million transactions to date. This milestone is crucial as sustained network activity can have a positive impact on ADA’s price. The achievement also dispels
The persistent disconnect between policymakers and technology often leads to regulations that overlook crucial aspects of new technologies. In the United States, lawmakers and regulators are faced with the daunting task of regulating emerging technologies such as blockchain and artificial intelligence. Senator Cynthia Lummis has recognized the importance of innovation in the financial sector and
Bitcoin kicked off the year 2024 with an impressive surge, climbing over 73% in the first quarter to hit a new all-time high of $73,750. Despite the subsequent price correction, the major stakeholders in Bitcoin have displayed a consistent pattern of accumulation in the first three months of the year. This accumulation trend suggests a
Bitcoin halving is a process that occurs approximately every four years, aimed at slowing down the creation of new Bitcoins. This mechanism ensures that the last Bitcoin will be mined over a hundred years from now, despite the fact that over 19.6 million Bitcoins are already in circulation. The reduction in production speed, coupled with
In the ever-evolving world of cryptocurrency investments, meme coins have gained significant popularity among investors looking for high returns in a short period. Dogecoin (DOGE) has long been considered the king of meme coins, with its iconic Shiba Inu logo and enthusiastic community. However, as Dogecoin consolidates near its 21-day moving average at $0.18, investors
The recent decision by the bankrupt crypto exchange FTX to sell its Solana holdings at a significant discount to crypto venture firms has sparked strong disapproval from creditors. Reports have emerged that FTX sold 30 million SOL at a rate of $64 each to VC firms such as Pantera Capital and Galaxy Trading, representing a
Ethena Labs, the creators of USDe, have recently announced the incorporation of Bitcoin (BTC) as backing into their synthetic dollar-pegged offering. This strategic move aims to scale USDe’s supply beyond its current $2 billion mark. The team emphasized BTC’s role in enhancing USDe’s scalability, pointing out its increasing open interest in major exchanges. BTC has
