February 2021

Kazakhstan wanted to snatch 1% of global cryptocurrency turnover

Kazakhstan’s Ministry of Digital Transformation is working on creating domestic cryptocurrency exchanges to control miners. Ministry of Digital Development, Innovation and Aerospace Industry of the Republic of Kazakhstan (R K) intends to create their own crypto-exchanges to handle 1% of global cryptocurrency turnover. Bagdat Musin, head of the ministry, announced this at an extended board meeting. According to him, the President of Kazakhstan has agreed on the development of the institute of crypto-exchanges on the basis of the International Financial Center “Astana” (M F C A). At the same time, the cryptocurrency market itself in Kazakhstan will remain unrecognized. “We will not recognize cryptocurrency in Kazakhstan, but we will participate in the global cryptoindustry,” Musin said. Thus, crypto exchanges created on the basis of the MFCA will collect taxes on $30 million mined by miners in the country, Musin added.Kazakhstan has long been trying to take control of the local crypto market. For example, back in August 2020, the government of the republic proposed to introduce a 15 % tax on mining companies. At that time, the taxation was explained by the need to create infrastructure to combat the COVID-19 pandemic. However, the local crypto market was almost immediately skeptical of the authorities’ proposal. Kazakhstan’s Xive mining company said that the tax on miners would reduce the investment attractiveness of businesses in the country. It is noteworthy that last summer the Kazakh authorities announced their intention to attract almost $ 740 million of investment to the local crypto market that equal to 1% of global cryptocurrency turnover. Whether or not the authorities succeeded in achieving this or not, remains unknown. However, it is known that this had no effect on the legalization of the crypto market. Recently it was reported why Ukraine decided to block cryptosites and who is behind it?

Bitcoin got support from two Wall Street investment companies

Early on February 24, bitcoin was able to recover from the decline to $43,000 seen on February 22-23 and surpass the $50,000 level. The market was positively influenced by news about investment companies from Wall Street. Square, which is managed by Jack Dorsey, who is also the shareholder and CEO of social network Twitter, announced that it had bought 3,318 thousand bitcoins for $170 million. Thus, the organization’s investment in the No. 1 cryptocurrency reached $394 million, or about 5% of the value of the line item in Square’s Cash and Marketable Securities balance sheet. Jack Dorsey reportedly plans to double Square’s involvement in bitcoin. Ark Investment Management, an investment group, was another company that backed bitcoin. Its head Kathy Wood said that she is “very positive about bitcoin, and very happy to see that the market is seeing a very normal market correction of the asset,” which is how she reacted to the downward price movement of the number one cryptocurrency that was seen in the previous two days. Kathy Wood also agreed with Bespoke Investment Group, which said that the decline in the price of bitcoin was “very moderate.” Institutional investor interest in bitcoin has increased recently, especially after the Canadian regulator approved the launch of the world’s first cryptocurrency ETF. In just one week, the amount of funds that ended up invested in bitcoin ETFs exceeded $564 million. Recently it was reported that BTC.com mining pool will have a new owner.

Germany's largest bank creates crypto-depository

Germany’s largest bank creates crypto-depository

Germany’s largest bank creates its own cryptocurrency storage solution for institutional investors Germany’s leading financial institution Deutsche Bank is developing its own cryptocurrency depository. This is reported in a report of the World Economic Forum. With it, the Germany’s largest bank…

Amazon is developing its own digital currency

Amazon is developing its own digital currency

The world’s largest online retailer Amazon is working on its own digital currency technology for the Mexican market Amazon is developing digital payment technology. At least this is evidenced by the company’s open position. For example, the company is looking for…

Cryptocurrency scammers began to flood Discord

Cryptocurrency scammers have targeted Discord users to steal digital currencies. This is reported by the British division of Kaspersky Lab. It is reported that the scam schemes are designed for users who somehow appeared in the public cryptochats Discord. After identifying…