Weekly Roundup of Cryptocurrency News 24/06/2022

Here you will find all the latest breaking news from NFT, DeFi and crypto niches.

Crypto Broker Falcon X has raised $ 150 million and is estimated at $ 8 billion

A digital asset broker based in the United States said on Wednesday that it had raised $ 150 million in recent financial transactions led by Singapore wealth group GIC and Switzerland B Capital. Other potential investors include Thomas Bravo, Leopard Global Management and Adams Street, Investment Manager. In particular, the series D funding round comes when crypto companies lose money and try to stay afloat.

Falkon X’s total funding has now reached $ 430 million, the highest of $ 210 million from S Series C. Over a period of 10 months, the estimated $ 3.75 billion has more than doubled to $ 8 billion. The company uses part of its latest funding to develop new offerings and create new markets for its institutional customers.

Chief Executive Officer Ragu Yarlagada Crypto said the winter has not affected his organization. The company said it had zero material exposure due to its strong risk management strategy. This is linked to growth in a market-independent business model.

Indian finance ministers to discuss 28% GST on crypto transactions

A group of ministers from the Indian Ministry of Finance will meet to discuss the implications of cryptocurrency related transactions. Bloomberg He said the talks will be held in Chandigarh on June 28 and 29, citing sources familiar with the matter. The tax was introduced last month by the Indian Goods and Services Tax Council, and its implementation includes the Indians’ tax on crypto sales.

Individuals who chose to remain anonymous indicated that the ministry panel was using it as a tax haven to better monitor communications in the area. The group of ministers will not reach the final number in two days but a 28% figure is expected to be considered – the maximum tax rate is considered a luxury.

Crypto tax obligations in India

Crypto users in India will be required to pay a 30% tax on the crypto sales capital announced in February in a joint budget announcement.

The forthcoming talks reflect the recent efforts of the Indian government to frustrate those who want to enter the crypto sector. In April, former Prime Minister Bihar Sushil Kumar Modi introduced the cryptocurrency as a ‘gambling’ and ‘lottery’ and questioned the viability of the investment.

Sushill, a member of India’s ruling Bahraini Janata Party, has called on the government to impose more taxes on the young generation, who are desperate for virtual assets.

Last month, the Central Bank of Ethiopia (CBDT) imposed additional tariffs on decentralized revenue. This was in response to crypto fans leaving DeFi, which was not within the income tax limits. The Board announced yesterday that it will impose a 1% tariff on TDS on crypto transactions starting next month.

EBay acquired the NFT trading platform KnownOrigin

Online trading firm eBay acquired UK NFT market on Tuesday while KnownOrigin is doing more in the NFT. The move comes a month after eBay launched its original NFT suite with OneOf.

Elsewhere, Fintech Tech Zelph will soon be able to show off their favorite NFT sets on their watch. Unlike Tag Heuer, the company’s chief executive said the technology aims to achieve mass adoption and inclusion. It is hoped that this will benefit nearly 100 million users of Apple Watch in the big market.

Tetzer is a stable pound supported by the British pound, to launch GBPT

Tether’s main stable coin has been offered another coin by a group on the British Virgin Islands for fear of cutting the 1 ፡ 1 pig. Stable Coin Supply at the beginning of June will be the fifth token offered by Tetter after USDT, EURT, CNHT and the recently launched MXNT.

GBPT will initially launch on Ethereum. The UK Treasury announced in April that it was planning to make the country an international cryptocurrency hub, with Tater hoping to make a quick and inexpensive alternative to real estate. The UK government has proposed recognizing a stable coin as a valid payment method, making the country a global destination for crypto innovation.

Paolo Ardoino, Tether’s CTO, said the UK is the next frontier of blockchain innovation and the widespread application of digital assets in the financial markets. He also expressed his interest in working with financial authorities to ensure the success of Tetter’s stable coin adoption. Tether GBPT Launches The company’s stable stable USDT market value has plummeted to more than $ 80 billion and has now reached $ 68 billion.

Crypto.com has received approval from Singapore regulators

Singapore Financial Supervisor has applied for licenses to a number of crypto companies. One of them, the exchange platform, Crypto.com, announced on Wednesday that it is licensed to operate in Singapore.

Co-founder and CEO Chris Marszalk said the financial regulator maintains a high level of regulation that promotes innovation and protects consumer protection. The approval underscores the trust and security he has created in creating the platform. He praised Marshall’s business environment and promised to work with his supervisor to establish his company in the country.

Other companies that have been certified with Crypto.com include Sparrow and Genesis. Singapore Financial Supervisor orders all transactions to provide adequate consumer protection in compliance with anti-money laundering measures. MAS provides clear instructions for promoting their products for digital payment tokens (DPT).

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