Indian Prime Minister Modi Chairs Crypto Meeting After Consulting With RBI, Finance Ministry

Indian Prime Minister Narendra Modi has reportedly chaired a comprehensive meeting on cryptocurrency and related issues in India. The meeting was an outcome of a consultative process involving the central… read more:
https://news.bitcoin.com/indian-prime-minister-modi-chairs-crypto-meeting-consulting-rbi-finance-ministry/

✴️ Exchange to be taxed in UK?

🔹Cryptocurrencies are not currencies. That's the interpretation made by the UK's tax department, HMRC, which refuses to exempt trading platforms from a tax applied to digital service providers.

🔹The tax in question has been around for a relatively short time: it was introduced last year to better tax certain tech giants, including Google and Amazon. It affects companies with an aggregate revenue of more than £500 million ($660 million or so), with UK sales of more than £25 million ($33 million).

🔹Financial services platforms can claim to be exempt from this tax. Except that the British tax service considers that cryptocurrencies are not currencies, nor "commodities" (raw materials). For the institution, exchange platforms are therefore not financial services.

🔹This means that cryptocurrency exchange platforms will have to pay the tax, which amounts to 2% of each sale. This affects a few giants in the sector, including the British version of Coinbase, which has seen its revenues increase sharply since last year.

✴️ Burma's government-in-exile chooses Tether

🔹As a reminder, the government in exile is made up of supporters of Aung San Suu Kyi, the former leader who was arrested following the military coup by the Burmese army. It is currently seeking funding, and has chosen the USDT stablecoin, which is backed by the dollar, according to a Bloomberg report.

🔹As a result, the National Unity Government (NUG) will now accept this cryptocurrency. The news was announced in a publication by Finance Minister Tin Tun Naing on Sunday.

🔹The move is also symbolic: the ruling junta had banned the use of digital currencies in May 2020. The penalties for those who choose to use them would be heavy: fines and even jail time.

🔹Using a cryptocurrency of this type can have several advantages for the government in exile: it is freely exchangeable without intermediaries, and allows to enjoy a stable price, being backed by the dollar.

Binance Will Delist $APPC , $EVX & $RDN on Dec 27
https://www.binance.com/en/support/announcement/feb78d8d93f54540a5ade2a970da87b3

Binance Will List Convex Finance (CVX) and ConstitutionDAO (PEOPLE) in the Innovation Zone
https://www.binance.com/en/support/announcement/52a591aab2a44b969187a00a15ca812e

Convex Finance (CVX) Listing Postponed
https://www.binance.com/en/support/announcement/c032da4b5cd04a76a005b6d852469a2b

Binance Adds AGLD, AUDIO, BICO, GTC, JASMY, LPT, QUICK, RNDR on Cross Margin and HIGH, MC, OOKI, SPELL on Isolated Margin
https://www.binance.com/en/support/announcement/91cc37baab8344f3b7bb9d13be2a4aaa

✴️ PayPal to launch a stablecoin?

🔹PayPal has confirmed plans to launch its own stablecoin, which would be called "PayPal Coin". The development of this project was discovered in the source code of its iPhone application by developer Steve Moser.

🔹Steve Moser's discovery found that the payments giant would have chosen to create a stablecoin backed by the dollar. However, Jose Fernandez da Ponte, clarified that the source codes for the iPhone app were developed during a recent internal hackathon.

🔹If the revelations prove true, the launch of a stablecoin could accelerate the adoption of cryptocurrencies among PayPal's 392 million users. As of May 2021, PayPal has reportedly already approached Ava Labs, the team behind the Avalanche blockchain (AVAX), to create its own stablecoin.

Breaking:
BITFARMS BUYS $40M WORTH OF BITCOIN

https://www.trustnodes.com/2022/01/10/bitfarms-buys-40-million-bitcoin

Binance Adds 43 New Tokens and 1,031 New Trading Pairs to the Convert & OTC Portal
https://www.binance.com/en/support/announcement/fde620479a554558bf640a19c35f0990

Notice of Removal of Trading Pairs - 2022-01-28
https://www.binance.com/en/support/announcement/d7d37bc2f94f4e45bc57571421bc16d1

✴️ META develops a supercomputer for the Metaverse

🔹Scheduled to be fully operational this summer, the new supercomputer of Meta (formerly Facebook), announces extraordinary computing power. Indeed, it will be able to process data equivalent to 1 exabyte, i.e. 1 billion GB, and will have a bandwidth of 16 TB/second.

🔹This will be a valuable tool for Meta to feed the research work of its future metaverse. And this tool is called AI Research SuperCluster, or RSC for the intimate.

🔹Incidentally, this computer already has 6080 NVIDIA graphics processing units (GPUs). These allow it a computing power that already places it as the fifth fastest supercomputer in the world. Eventually, the RSC should house up to 16000 GPUs. As for the company Meta, it did not wish to communicate either the cost or the location of this installation.

🔹It's hard to speculate at this point on how many and what monopolies of metaverse virtual worlds will be popular in the future. But one thing is for sure, whoever offers the best user experience will have a huge competitive advantage. So that's what the SuperCluster is all about: a tool that can process the goldmine of user data accumulated over the years by the companies in the group.

🔹This research work will enable the development of artificial intelligence that is as immersive and responsive as possible. This can of course be applied to virtual reality games, but also to conferences in several languages that would be translated in real time.

✴️ Arizona to use BTC as legal Currency?

🔹Some saw a Latin American country, Africa or the Kingdom of Tonga following El Salvador's lead. Could it be that the American state of Arizona will be the next territory to make BTC a legal tender?

🔹This is the wish of Wendy Rogers, a local senator from the Republican party. She has indeed filed a bill in this sense with the Senate of the western US state.

🔹The request was filed early last week and only reached the media this weekend. At this time, we do not know whether or not this bill will be discussed in the Arizona Senate.