Cryptocurrencies

• [New] In a new bill, India plans to ban most private cryptocurrencies and establish a framework for creating an official digital currency to be issued by the Reserve Bank of India. CNBC
• [New] Google has warned users about the use of its Google Cloud platform by malicious actors to mine cryptocurrencies. Bitcoin News
• [New] El Salvador's plans to build the world's first Bitcoin City and Adidas's entry were the bright spots for digital assets in a week that saw major cryptocurrencies clobbered by fears over the new coronavirus variant Omicron. ARY NEWS
• [New] Amid growing inflation and the ongoing COVID-19 pandemic, global investors have been increasingly looking at cryptocurrencies like Bitcoin as a hedge against financial risk. CoinTelegraph
• [New] In early June, El Salvador announced that it was going to be the first country in the world to accept Bitcoin as legal tender. The Fintech Times
• [New] As a global currency not tied to any country, bitcoin has the potential to act as a hedging opportunity against country-specific risks. OnManorama
• [New] Through the Cryptocurrency and Regulation of Official Digital Currency Bill, 2021, India is looking to make a framework for the official digital currency that will be issued by the Reserve Bank of India. Gadgets 360
• [New] The Bitcoin bond will pay 6.5% annual interest in addition to 50% of El Salvador's Bitcoin gains once its initial investment costs for its mining infrastructure have been recovered. CoinTelegraph
• [New] India's government will introduce a bill to ban private cryptocurrencies and create a framework for a central bank-backed digital money. DAWN.COM
• [New] Under the IIJA, the IRS will grow its regulatory power over cryptocurrencies by increasing the reporting requirements surrounding digital assets. JD Supra
• [New] El Salvador is delving further into bitcoin and plans to issue sovereign bitcoin bonds. PYMNTS.com
• [New] Indian Prime Minister Narendra Modi has warned that bitcoin presents a risk to younger generations, sounding a hawkish tone as his government prepares to introduce legislation to regulate cryptocurrencies. The Doha Globe
• [New] As reported by Cointelegraph, India plans to lower the Goods and Services Taxes on cryptocurrency exchanges from 18% to 1% through regulatory reclassification. CoinTelegraph
• [New] El Salvador continues to lead the Bitcoin adoption drive as President Nayib Bukele announces the launch of Bitcoin City, which will be funded initially by $1 billion Bitcoin bonds. CoinTelegraph
• [New] The U.S. dollar will remain the dominant currency in the world despite the increasing popularity of cryptocurrencies. CoinTelegraph
• [New] IRS Sees Crypto Seizures Worth Billions of Dollars in 2022 [Bloomberg] The Internal Revenue Service could seize cryptocurrency valued at billions of dollars that's linked to tax fraud and other crimes in the coming year. Going Concern
• [New] If inflation continues to rise around the world, we could see interest in cryptocurrency and other investment options rise with it. Brandwatch
• [New] National cryptocurrencies - where central banks create their own coins that they can control, rather than adopting existing decentralized coins - are another area where we will see growth in 2022. Forbes

Last updated: 05 December 2021