crypto strategy

In crypto: the European Parliament votes for simplified tax rules on crypto

Cryptocurrency

The European Parliament has voted in favor of simplifying tax rules for those involved in occasional or small cryptocurrency transactions.

The non-binding resolution, passed with the support of 566 out of 705 members, said blockchain technology could be used to automate tax collection.

He also called for the use of technology to combat tax evasion in general.

“Blockchain’s unique features could offer a new way to automate tax collection, limit corruption, and better identify ownership of tangible and intangible assets to better tax mobile taxpayers,” the resolution says.

“Work needs to be undertaken to identify best practices for using technology to improve the analytical capacity of tax administrations.”

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Cryptocurrency Shorts

S. Daniel Leon, co-founder and chief strategy officer of collapsed crypto lender Celsius Network, has stepped down. Former CEO Alex Mashinsky stepped down last week amid ongoing bankruptcy proceedings.

M31 Capital has launched a new investment fund dedicated to Web3. It has raised $50 million to date and will cap the fund at $100 million.

Cryptocurrency exchange Coinbase will expand its services in Australia. On Friday, a documentary titled Currency: the story of a founder, giving a glimpse of life within the American company over the past three years, will also be released on Amazon Prime, iTunes and YouTube.

Mastercard has launched a new product – “Crypto Secure” – to combat crypto-related crime. Powered by CipherTrace, the software will help banks and card issuers identify and block fraudulent transactions through crypto exchanges.

Hugo Boss partners with Web3 company Imaginary Ones to launch NFTs “encouraging everyone to connect with their emotions and share a message that all feelings – positive and negative – are valid and should be embraced.” The 1,001 NTFs with 3D animations will each include one of six characters representing either joy, sadness, fear, anger, love, or all five emotions together.

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Crypto prices

The aggregate market cap of the 21,200+ coins is $964 billion at the time of writing (7am UK), an increase of 2.1% in the last 24 hours.

For summaries of recent developments in cryptocurrency news, click here.

For valuations of the top 100 coins by market cap in US dollars, plus 24-hour price changes, see below.

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