Report: Indian Government Updates Progress on Crypto Regulation

The Indian government has reportedly provided an update on its progress toward the country’s regulatory framework for cryptocurrencies. The government provided its latest stance in areas such as the national cryptocurrency and licensing of crypto businesses. It is pursuing crypto regulations “with due caution,” according to reports. Source: News.Bitcoin.com

More Countries Abandon US Dollar, Cryptocurrency is Possible Alternative

Countries around the world, such as China, India, Iran, Turkey, Russia, Venezuela, and others are abandoning the United States dollar for alternative payment methods to take back their sovereignty. China has taken significant steps towards strengthening their own yuan by accumulating gold reserves, launching yuan-denominated crude oil futures, and using their currency with trading partners. Russia, Iran, and Turkey have been pushed away from the United States dollar through sanctions that arose from political disputes. This further compounded into their trading partners, such as India, using various national currencies other than the dollar for international trade deals. Source: Dashnews.org

Overstock Will Pay Some of Its 2019 Taxes in Bitcoin

Digital retail giant Overstock.com plans to pay at least some of its taxes using bitcoin this year. The company announced on its investor portal Thursday that it would pay some of its state commercial activity taxes in Ohio using bitcoin, becoming the first major business to do so. Ohio announced last year that it would allow businesses to pay taxes in bitcoin, though the payments would be converted into dollars by a third party before the state accepted them. Source: Coindesk

BitTorrent to Sell Crypto Token on Binance Launchpad

Binance’s cryptocurrency token creation platform Binance LaunchPad will introduce a minimum of one token to its users every month in this year, as revealed by the world’s largest crypto exchange today. The first projects that will be launched in this initiative include the TRON-affiliated BitTorrent and Fetch.AI. Binance offers two platforms for blockchain and crypto projects. Binance Labs provides funding to innovative blockchain startups while Binance LaunchPad offers a platform for raising funds through token sales. The latter supports projects which are already funded and need a renowned space to reach more crypto users. The LaunchPad lists Bitcoin wallet Bread and blockchain-based gifting platform Gifto as its successful token projects in the past. Source: CCN

 

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