ICOs, revamped taxation, and investor protection reverse a past crypto reluctance under the incoming administration.

Yoon Suk-yeol is South Korea’s new president. He is known for his crypto-friendly approach. Many of his campaign promises appealed ...

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Yoon Suk-Yeol, a conservative presidential contender, has officially been elected as the new president of South Korea. According to news reports, Yoon of the People Power Party defeated his politically progressive opponent, Lee Jae-Myung, by less than 1%. In South Korea, cryptocurrency dominated the election discourse, with both candidates launching NFTs connected to their campaigns.…

The post South Korea Has A New President – And He Likes Crypto appeared first on Bitcoin News Miner.

Whatever funds come from the token will go to sheltering kittens, funds to help with their vet visits, digital and physical adoption services, and finally, the trade of digital assets. 

The project gets its inspiration from Floki, one of the most trendy meme cryptocurrencies in the market today. Moreover, it has forged partnerships with the Binance Smart Chain, OpenSea, the Metamask wallet, PancakeSwap, and Amazon Smile.

Tuxi has taken its time to build a platform that will make changes and create a name for itself in the crypto world. Its team recognizes the time it has spent perfecting the project and surviving the process while bringing significant connections on board, including developers, designers, advertisers, to mention but a few. So far, the project is not doxxed, and the team remains anonymous. 

The TUXI Token

The TUXI token will be charity-driven, as earlier mentioned, to help people who love cats. Furthermore, the token aims at bringing hype to the project while remaining credible to all users. As such, the token has a secure contract on Unicrypt, hoping to provide security audits and KYC verifications with time. You can view the contract here for more details, including access to its source code. 

TUXI's initial DEX offering will be on Unicrypt, with a 180 BNB hard cap, and a 50 BNB soft cap. The low cap aims at driving the token's volatility. To limit bias during the presale, each account involved can only spend 1.5 BNB. After the presale, the token will also be available on PancakeSwap. Notably, it is a tax-free token, and it is advisable to use low slippage during the sale. 

The project assures its investors that the token will have a finite supply to increase the scarcity of its market supply. Additionally, part of it will be locked to increase the project's liquidity, besides scheduled weekly token burns to improve its market valuation. Therefore, investors can rest easy as $TUXI will be a good option for long-term investment opportunities. 

The project will also encourage long-term community participation, giving more power to the users in decision-making processes. Its soon to come raffle dApp (TUXI Hat Daw) will give users a chance to win huge prizes, increasing the incentives for participation. Its Verifiable Random Functions (VRF) will add to the fairness of how the raffle dApp will work. 

About Tuxi

Tuxi has plans to develop its first dApp that will enable users to connect their wallets to donate to its charity address. It builds a marketplace for NFTs and other merchandise for users to trade assets globally using their Metamask wallets. 

The TUXI Kennel will be an avenue to adopt kittens in the US digitally or physically. On the other hand, TUXI University will help fund aspiring veterinarians who have issues with their education costs.

Another objective is to acquire CoinMarketCap or Coin Gecko's fast-tracking services to get a listing on the sites. Finally, it will have high-end advertising opportunities, including erecting billboards in huge cities and leveraging Dextools.

For more details about Tuxi, visit its website, Telegram, and Twitter pages for updates.

Welcome, Coin Bureau readers, to an article about the ever-exciting world of taxes. Who doesn’t love taxes? I know I sure do! But, writing about it, reading about it, talking about it, paying it, I just can’t get enough! Who’s with me? Can I get a high-five…? anyone? Yeah, yeah, I know. You’d probably rather […]

The post Top Crypto Tax-Friendly Jurisdictions appeared first on Coin Bureau.

Much has been said about the legal implications of DAOs, but little attention has been paid to the tax and reporting considerations for DAOs and their token holders.

Crypto news was abuzz recently with speculation of the U.S Internal Revenue Service (IRS) writing off the tax on income generated from unsold staked cryptocurrencies. Many, including crypto influencers on social media revered the implication derived from a district court ruling in Nashville. However, experts are now claiming that the industry might have been too […]

Crypto Stakers and miners could finally breathe a major sigh of relief as the IRS has decided not to tax unrealized gains derived from crypto staking or mining digital assets. This has been a major relief as many crypto proponents have been voicing their opinion against these proposed taxes over the last few months. Blockworks’

The post Just In: Big Relief for Crypto Stakers and Miners, IRS Won’t Tax Unsold Crypto Tokens appeared first on CoinGape.

The president of El Salvador, Nayib Bukele announced the purchase of 410 Bitcoin (BTC) for $15 million in the midst of a day of sharp declines in the cryptocurrency markets, as the flagship cryptocurrency trades below $37,000, last seen during July 2021. “I was wrong, didn’t miss the Bitcoin dip. El Salvador just bought 410 BTC for only 15 million dollars, Some guys are selling really cheap,” Bukele said in a Tweet on Friday. Nope, I was wrong, didn’t miss it. El Salvador just bought 410 #bitcoin for only 15 million dollars 🥳 Some guys are selling really cheap 🤷🏻‍♂️ https://t.co/vEUEzp5UdU — Nayib Bukele 🇸🇻 (@nayibbukele) January 21, 2022 With the latest addition, the total Bitcoin holding of El Salvador stands at 1801 BTC, currently valued at about $66 million. A few hours before the announcement, news was also revealed that the government of El Salvador has planned on offering small and medium-sized companies (SME) for $10 million in crypto loans during the first quarter of 2022. Acumen, a Solana-based lending platform, will be financing the initiative of the National Commission for Micro and Small Businesses (CONAMYPE) with an annual interest between 6 percent and 7 percent with a maximum of 10 percent. The platform will use stablecoins like USDC or USDT to Conamype which would then distribute to entrepreneurs through Banco Hipotecario, a government-owned bank. The entrepreneurs would then pay the loan and its interest in the U.S. dollars to the Mortgage Bank, which would then be in charge of paying the debt to Acumen. In September, El Salvador became the first country in the world to adopt bitcoin as legal tender despite criticisms from global financial institutions like the IMF and World Bank. After the acceptance of BTC, the country announced tax exemption for foreign investors on BTC profits. The President of El Salvador later pledged to build a tax-free Bitcoin City for certain crypto investors in addition to establishing geothermal bitcoin mining facilities to make the Central American country a global crypto mining hotspot.

The post El Salvador Just Bought 410 BTC for $15M appeared first on Cryptoknowmics-Crypto News and Media Platform.

The agenda for this article is the cryptocurrencies in the middle of hard news. We go through the most common cryptocurrencies and their uses....