Category: digital currency
Crypto community slams ‘disastrous’ new amendment to Biden’s big infrastructure bill
Biden’s major bipartisan infrastructure plan struck a rare chord of cooperation between Republicans and Democrats, but changes it proposes to cryptocurrency regulation are tripping up the bill. The administration intends to pay for $28 billion of its planned infrastructure spending by tightening tax compliance within the historically under-regulated arena of…
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US Treasury calls for stricter cryptocurrency rules, IRS reporting for transfers over $10K
President Biden’s vision for an empowered, expanded IRS is poised to have a big impact on cryptocurrency trading. According to a new report from the U.S. Treasury Department, the administration wants to put new requirements in place that would make it easier for the government to see how money is…
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Blockchain startup S!NG wants creators to lean on NFTs to protect their intellectual property
After a years-long crypto winter, it been the spring of NFTs, but as digital art prices sober up after an explosion in sales, blockchain founders are looking to find more stable opportunities in the space that can grow over time even as speculative interest in NFTs shifts. One particular interest…
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China’s e-commerce giant JD.com starts paying some staff in digital yuan
China’s plan to introduce its digital currency is getting a lot of help from its tech conglomerates. JD.com, a major Chinese online retailer that competes with Alibaba, said Monday that it has started paying some staff in digital yuan, the virtual version of the country’s physical currency. China has been…
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As contactless menu ordering becomes the norm amid COVID, China pushes back
Digital ordering and paying at restaurants was already gaining much ground in China before the COVID-19 pandemic hit. The tap-to-order method on a smartphone is part of the greater development in China where cash and physical documentation is increasingly being phased out. Many restaurants across large cities go as far…
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African turns to mobile payments as a tool to curb COVID-19
Africa is using digital finance as a means to stem the spread of COVID-19. Governments and startups on the continent are implementing measures to shift a greater volume of payment transactions toward mobile money and away from cash — which the World Health Organization flagged as a conduit for the…
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