BitDigest April 27 · Issue #889

Apr 27, 2021
  • Crypto market cap back above $2 trillion
  • South Korea to impose capital gains tax on crypto starting in January
  • Indonesia considers plan to tax crypto trades directly on exchanges
BitDigest April 27 · Issue #889

Crypto Fear & Greed Index

Following last week’s post suggesting that the Fear & Greed Index for bitcoin and other large cryptocurrencies was holding due to an increase in altcoin activity, the index began to fall, collapsing 46 points to a 12-month low of 27 “fear” yesterday before gaining 85% overnight to return to a mid level “neutral” 50.

BitDigest April 27 · Issue #889

The Headlines

BitDigest April 27 · Issue #889

South Korea to Tax Capital Gains from Crypto Starting Next Year

www.reuters.com
South Korea’s finance minister said the government will begin taxing capital gains of more than ₩2.5 million ($2,253) derived from trading virtual assets in January
BitDigest April 27 · Issue #889

Korean Financial Watchdog Requires Employees to Declare Crypto Holdings

www.koreatimes.co.kr
South Korea’s Financial Service Commission is requiring all employees to report any crypto holdings as an effort to deter any employee misconduct.
BitDigest April 27 · Issue #889

Irish Enacts VASP Registration Initiative

www.cointelegraph.com
The Central Bank of Ireland has enacted legislation under the EU’s Anti-Money Laundering Directive making it a criminal offense to operate a Virtual Asset Service Provider (VASP) in Ireland without registering the company’s operations.
BitDigest April 27 · Issue #889

Indonesia May Tax Crypto Trades at Exchanges

www.phnompenhpost.com
Indonesia’s Commodity Futures Trade Regulatory Agency is considering a plan to tax cryptocurrency transactions by automating levying an income tax on trades at the nation’s 13 licensed digital asset trading platforms.
BitDigest April 27 · Issue #889

Nevada to Set Up Committee to Review Self-Governing Innovation Zones

www.gov.nv.gov
Nevada’s Governor is creating a special committee to study his plan to create self-governing innovations zones in the ‘Silver State.’
BitDigest April 27 · Issue #889

JPMorgan May Offer Bitcoin Fund

www.coindesk.com
JP Morgan is reported to be preparing to offer an actively managed bitcoin fund for private wealth clients and could begin to offer this fund as early as this summer.
BitDigest April 27 · Issue #889

Ant Group Has Been Working on DCEP Since 2017

www.scmp.com
The parent of Alipay, Ant Group disclosed a detailed timeline of its work on the PBoC’s digital currency electronic payment (DCEP) initiative showing the Chinese financial company was invited to begin working with the central banked on the project in 2017 and began testing the DCEP on its mobile platform last summer.
BitDigest April 27 · Issue #889

JD.com Paying Some Salaries in Digital Yuan

www.techcrunch.com
Chinese e-commerce company JD.com is working with the PBoC on its digital currency electronic payment (DCEP) roll out and has begun paying salaries for some employees in digital yuan.
BitDigest April 27 · Issue #889

Tesla Reports Bitcoin Gain in Q1 Update

www.tesla-cdn.thron.com
📈Tesla (NASDAQ: TSLA) reported a $272 million sale of digital assets gaining a “$101 million positive impact” during the first quarter. The company closed the quarter ending March 31, 2021 with $1.3 billion in digital assets remaining on its balance sheet. 🐦CEO Elon Musk denied that he ‘pumped and dumped’ the digital currency tweeting that he did not sell any of his personal bitcoin and only sold 10% of the company’s digital currency “to prove liquidity of Bitcoin as an alternative to holding cash on balance sheet.”
BitDigest April 27 · Issue #889

Medici Formally Separated from Overstock

www.investors.overstock.com
📈Overstock (NASDAQ:OSTK) has closed on its previously announced spin-off of its captive venture fund Medici Ventures, converting the entity into a single owner-limited partnership to be managed by Pellon Venture Partners, an independent third party venture capital firm.

Daily Cartoon

BitDigest April 27 · Issue #889

Reports you may have missed

Happy Halving Day to all. It has been another volatile 24 hours for crypto markets, with war-related headlines sending risk assets lower overnight. BTC 0.67%  briefly dipped below the $60k mark but has since recouped all its losses and is now trading above $64k. ETH -0.21%  followed BTC's initial drop, trading below $2900 last night, but it has now rebounded to above $3000. SOL 0.44%  has shown remarkable resilience amid the turmoil, now...

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