Portugal considering capital gains tax for cryptocurrency
The minister of finance, Fernando Medina, confirmed on Friday during a working session that crypto assets will be subject to taxation in the near future.
The Portuguese tax authorities are currently looking at cases in other countries to inform recommendations for regulation. At present, Portugal doesn’t view cryptocurrencies as an asset and they are instead treated as a currency.
Algorithmic stablecoin from DEUS Finance loses dollar peg, plunging 30%
DEI, a hybrid algorithmic stablecoin from the DeFi protocol DEUS Finance, lost its dollar peg on Sunday, according to data from CoinMarketCap.
The DEI stablecoin currently trades at $0.66 after recovering from an all-time low of $0.55 recorded on May 16. According to the main announcement from the project team in the past 24 hours, Deus Finance is proposing a bond program to fix the exchange rate problem for DEI.
376 billion SHIB bought by a whale as SHIBA INU is back on top 10 most-traded tokens list
The second-largest meme token, SHIBA INU, has returned to the list of the most traded coins, according to a recent tweet by WhaleStats crypto tracking platform.
Meanwhile, another large investor on Ethereum chain has purchased a whopping 375,977,961,547 SHIBA INU tokens, paying $4,568,132 for that chunk of meme crypto.
Animverse announced launching official version
Animverse, an NFT game inspired by the Anime universe, announced launching the official version on mainnet on May 19th.
South Korean politician calls for Do Kwon to attend hearing on TerraUSD’s collapse
Yun Chang-Hyun, a representative from South Korea’s ruling People Power Party, has called for a parliamentary hearing on TerraUSD (UST) after the stablecoin’s sudden collapse last week, local news outlet Newspim reported on Tuesday.
Korea’s Financial Services Commission (FSC) and the Financial Supervisory Service (FSS) have reportedly asked crypto exchanges to share information on transactions linked to UST and Luna, including their trading volumes and the number of relevant investors. The two regulatory agencies have also reportedly asked exchanges to provide their countermeasures to the UST crash and their analysis of what caused it.
H3RO3S rises 174.55% after 24h
After a few days fluctuating around 53 VNDC – 57 VNDC, H3RO3S, the native token of the H3RO3S game’s system, surged dramatically.
H3RO3S has gained 174.55% in the last 24 hours and is trading at 151 VNDC. With these achievements, H3RO3S has become the leading asset in the Top Gainers and ranked 3rd on Top Trending on ONUS with 92,296 views.
China returns as 2nd top Bitcoin mining hub despite the crypto ban
China became the second-largest Bitcoin hash rate provider as of January 2022, months after the local government banned all crypto operations in the country, according to the latest update from the Cambridge Bitcoin Electricity Consumption Index (CBECI).
Bitcoin miners in China accounted for 21.1% of the total global BTC mining hash rate distribution as of early 2022, following only the United States, which produced 37.8% of the total hash rate as of January, according to the data.
Do Kwon says Terra could fork into two blockchains
Luna Foundation Guard CEO, Do Kwon, has released a new proposal entitled “Terra Ecosystem Revival Plan 2.”
The new plan means that Terra will be forked into two chains, Terra and Terra Classic. Those chains will host the Luna (LUNA) and Luna Classic (LUNC) cryptocurrencies respectively. Only the classic chain will have the algorithmic stablecoin TerraUSD.
Institutions poured $300 million into Bitcoin funds during Terra meltdown
Bitcoin price volatility seems to have been a sale klaxon for institutional investors last week, some of which poured $299 million into exchange-traded Bitcoin funds, according to a new CoinShares report.
It’s an unprecedented level of bullish investment in Bitcoin funds during extreme market volatility, according to James Butterfill, CoinShares’ head of research.
Dubai-based law firm starts accepting crypto payments
Ashish Mehta & Associates, Solicitors and Legal Consultants, a Dubai-based law firm, has announced plans to start accepting crypto for payments.
Through this integration, the law firm’s clients will be able to pay for services in digital currencies, including Tether (USDT), Bitcoin (BTC), and Ether (ETH).