UK Digital services tax targets crypto exchanges
According to a report, crypto exchanges in the United Kingdom will have to pay a 2% digital services tax. Britain’s tax authority, HMRC, does not recognize digital assets as financial instruments and therefore exchanges are not eligible for financial exemptions. The digital services tax on revenue was introduced in April 2020 targeting social media and search giants such as Facebook and Google.
Omicron token spikes 900%
A relatively obscure cryptocurrency called Omicron (OMIC) has surged to an all-time high today as a new fast-spreading COVID-19 variant got christened with the same name. Analysts said that it is in a giant bubble.
Democratic senators oppose President Biden’s OCC Omarova nomination
A group of five Democratic senators has reportedly rejected United States President Joe Biden’s nominee, Saule Omarova, to head the Office of the Comptroller of the Currency (OCC).
Vitalik Buterin proposes calldata limit per block
Ethereum co-founder Vitalik Buterin has proposed a new limit on the total transaction call data in a block to decrease the overall transaction call data gas cost over the ETH network.
Cryptocurrency ban in India will lead to more unlawful usage, complete tax evasion, says BACC
IAMAI’s Blockchain and Crypto Assets Council (BACC) said that a blanket ban on cryptocurrencies in the country will encourage non-state players, thereby leading to more unlawful usage of such currencies. IAMAI stands for Internet and Mobile Association of India. Its mandate is to expand and enhance the online and mobile value-added services sectors.