Crypto Market Overview Jule 5th | Dex-Trade
Crypto.com CEO Fights Crypto Community Panic on Twitter
The CEO of cryptocurrency trading and payment platform Crypto.com, Chris Marszalek, today busied himself with debunking rumors about the company's provocative actions and a possible slowdown in the withdrawal of funds in order to reassure its users. In particular, Marszalek recalled that despite large-scale efforts aimed at optimizing the economy and stabilizing means of payment, there are still many FUD (fear, uncertainty, doubt) rumors in the world that are reposted every day. Only at the beginning of this week, clickbait headlines thundered on the social network that Crypto.com was slowing down the withdrawal of client funds and holding special promotions for making deposits. The entrepreneur called these rumors false. He added that the firm's withdrawal policy was "the same as it always was," and made it clear that no special deposit incentives had been introduced. And in addition, Marszalek decided to share his imperial ambitions and said that regardless of the desire or unwillingness of anyone from the crypto industry, everyone will have to accept the fact that Crypto.com will enter the top five, and maybe even the top three in terms of profit among crypto sites this year. By the way, he is very optimistic about the future of the crypto market and even claims that “after sub scale companies with broken business models are out,” the industry will become much better. Very similar to a statement to the antimonopoly committee...
EU Wants to Extend Anti-Money Laundering Laws to NFTs
A group of Members of the European Parliament has proposed an amendment to the union's anti-money laundering (AML) legislation that will apply to NFTs and will be part of a larger package of proposals submitted by European lawmakers called Prevention of the misuse of the financial system for the purpose of money laundering or terrorism. The authors of the proposal are Green MEPs Ernest Urtasun of Spain and Denmark’s Kira Marie Peter-Hansen, as well as socialist lawmakers France’s Aurore Lalucq and Csaba Molnár of Hungary. If the current amendment is made to the final version of the AML bill, NFT platforms will become "obligated entities" subject to its rules. The MPs propose that the amendment apply to “crypto-asset service providers, trading or acting as intermediaries for importing, minting, sale and purchase of unique and not fungible crypto-assets that represent ownership of a unique digital or physical asset.” By the way, the list of such assets includes works of art, real estate, digital collectibles and game items, as well as any other value. Well, in addition to this, the bill expands the powers of Brussels in the control of the so-called "unhosted wallets." Most experts from the crypto community call this measure harmful, as it could hinder the development of the crypto sector in Europe.
UK Authorities Want to Impose a Tax on DeFi
Due to the growing uncertainty in the digital market and in most major economies, the UK government intends to seek advice and collect expert opinions on the taxation of decentralized finance (DeFi). 8 weeks have been allocated for collecting opinions and discussing, starting from July 5, 2022 and ending on August 31, 2022. During this period, the authorities intend to find out whether it’s possible to reduce administrative costs for taxpayers. Officials are interested in how the tax regime can be better synchronized with the underlying economy. The government release mentions that DeFi lending and staking includes a series of activities that reward users who contribute their tokens to the pool. A detailed review of this process will address issues related to the tax treatment for investors involved in lending and staking. Other DeFi-related matters will not fall within the scope of this requirement and will not require proof.