Cryptocurrency holders in India will soon be subject to a 30% tax, while Thailand goes back into discussions regarding its 15% tax plan. In a positive development for cryptocurrency holders in India, Nirmala Sitaraman announced that 30% of virtual digital assets known as cryptocurrencies will be imposed in her 2022-23 budget.
The minister also made it very clear that no deduction in respect of any expenditure or allowance is to be allowed while computing such income except the cost of acquisition. Loss from the transfer of virtual digital assets cannot be set off against any other income.
In the meantime, Thailand backs down and scraps the plan to tax crypto transactions by 15%. After facing pushback from the crypto industry, the Thai Revenue Department has published a manual outlining the new tax rules applicable to cryptocurrencies and digital tokens.
According to tax officials, income from crypto could be reported as capital gains and added that the new rules will allow traders to offset their annual losses against gains made in the same year.
In another part of the world, Botswana is one step ahead of crypto regulations. A number of African countries have recently decided to not only encourage the development and application of blockchain technology but also to integrate it into central bank digital currencies (CBDCs), a move that Nigeria pioneered and which South Africa is now considering.
Amidst these moves, the government of Botswana has taken the bull by the horns and formally introduced to parliament a government gazette that will regulate the blockchain and cryptocurrency sectors.
Even though this is not yet a law, it would be subject to deliberation by parliamentarians. If this proposal is approved, Botswana would become the first African nation to regulate crypto.
Reports show that Bitcoin Mining is responsible for only 0.8% of the world’s CO2 emissions. In its report, Coinshares, a cryptocurrency firm, shows that the arguments against bitcoin mining through its Proof-of-Work system and the electrical consumption associated with it are exaggerated. According to the report, Bitcoin’s mining infrastructure produces 0.08% of the world’s carbon dioxide (CO2) today.
Despite the fact that bitcoin mining contributes to current emissions, Coinshares emphasized that these emissions are not only insignificant on a global scale, but in no way necessary. Bitcoin will become 100% renewable as soon as all of our energy comes from renewable sources. Instead of stifling the development of monetary technology, we should focus on expanding renewable energy.
In other news, Disney has posted jobs indicating its interest in getting into NFTs. The company posted jobs for Director, Sales and Digital Marketing, Culture Trend Marketing Manager, Business Development, and ESPN Business Development and Innovation.
All four jobs require some knowledge of digital collectibles from the candidates.
In the description for Manager of Business Development, for instance, the post says that whoever is chosen “will help lead Disney’s efforts in the NFT space including monitoring the evolving marketplace, setting category strategy, and managing key partners. ”
Klever & Moonbeam collaborate to enable the GLMR token in the Klever ecosystem
Klever Wallet enables Moonbeam, a fully Ethereum-compatible parachain on Polkadot.
Klever and Moonbeam have collaborated to activate parameters inside the Klever Ecosystem; those features are now available in Klever Wallet’s new update for Android and iOS.
With Klever Wallet, you can easily and securely receive and send using GLMR. In addition, we have activated our Charge feature, perfect for selling products or billing for services in GLMR.
What is Moonbeam ($GLMR)?
Moonbeam is an Ethereum-compatible smart contract parachain on Polkadot. Moonbeam lets you build or redeploy Solidity projects in Substrate-based environments with popular Ethereum development tools.
Click below to find out the new features implemented into Klever Ecosystem.
Misha Lederman hosted Felipe Rieger to discuss Klever NFT Marketplace
Misha Lederman hosted the Klever Exchange Product Manager & Head of NFT at Klever, Felipe Rieger to discuss NFT Marketplace and how Klever is launching a new era of secure and fast NFT, buy, trade, store, and management.
What is Klever NFT Market Place?
Klever NFT Marketplace is a centralized marketplace, which means the NFTs are in our custody. As a result, blockchain fees do not apply to listing, bidding, or buying NFTs. The seller of the NFT only has to pay a very low fee once the order has been completed, unlike Ethereum and decentralized Marketplaces, which charge huge gas fees for listing, bidding, or transferring NFTs through smart contracts.
Did you miss this special Livestream about NFT? Relax, there’s still time! Click below and watch this amazing full conversation.
PODCAST: Part 2 – Understanding Blockchain and Klever’s purpose
Blockchain adoption in the virtual sector has paved the way for a new era of the internet
In this Part 2 of The Klever Story, you’ll get to know more about who we are and everything that makes us the best Ecosystem of Blockchain and Cryptocurrencies in the world.
Following the implementation of blockchain technology, companies like Google, Facebook, Twitter or any user-generated social media platforms that were selling users’ personal data and earning billions of dollars will no longer be able to do so.
KleverChain Explorer: Blockchain feature explained
KleverChain Explorer is not like etherscan, tronscan, or bscscan; it has more features than anyone else today.
KleverChain Explorer, also known as KleverScan is the first blockchain browser/explorer in the Klever ecosystem.
By using KleverChain, users will have a complete browsing and search experience with all the information they need in real-time. The information contains blocks, transactions, accounts, nodes, assets, validators, market capitalizations, prices, transaction histories, and much more.
KleverChain is set to launch on 31 March 2022, so let’s see how that will impact how users use other chain explorers right now.
Love Monster NFTs: Expand your horizons
Love Monster NFTs. The Next Generation in Metaverse Gaming.
Many underestimate the creative genius of developers like those behind the Love Monster platform. It’s no wonder the project is making waves in the crypto and gaming industries.
An NFT application that combines the flexibility of an NFT platform with the robustness of a gaming platform, offering the opportunity to earn while playing (P2E), is by far the most exciting industry to be created by any developer.
What is the Love Monster?
Love Monsters is a limited series of 9999 handcrafted Monsters designed with Love. Such that each monster is governed by its own unique traits and levels that determine its ranking. Love Monsters are scored on the monster meter from 1 to 10 for each of its levels which range from the number of Editions that have been minted.
Klever NFT Marketplace’s Stats can be used to your advantage
Klever NFT Marketplaces provide access to insight that should never be underestimated.
Although it might seem ambitious at first, anyone who wants to be a great crypto trader and investor should always conduct their own due diligence before making any investments.
To be able to participate in NFT sales and play-to-earn games in the Klever Ecosystem, you need to understand how statistics work within the Klever NFT marketplace. In order to be a successful trader or investor, you must conduct a thorough market analysis.
Click below to take note of some key statistics on the Klever NFT Marketplace in no particular order of importance.