Crypto Market Overview November 10th | Dex-Trade

Crypto Market Overview November 10th | Dex-Trade

Mastercard Announced The Launch of Bitcoin Cards for Digital Payments

Mastercard announced a partnership with CoinJar, Bitkub and Amber Group to launch simple digital cryptocurrency payments using the payment giant's cards, which consumers, businesses and other organizations applying to the service provider can receive. CryptoNewsz reports. The cards should allow customers to easily convert their digital currency to fiat anywhere in the world where Mastercard is accepted. At the first stage of cooperation, the companies plan to launch a service for paying bills in BTC. Users will pay by digital currency, and payment will be calculated in fiat money, recalculated at the current rate, the provider of which is still unknown. Bitcoin payment cards will initially be used to make payments in the Asia-Pacific region. According to the announcement made by the payment service, linking to cryptocurrency will be possible for both credit and debit cards. Rama Sridhar, Executive Vice President of Digital and Emergency Partnerships for Asia Pacific, said the company is committed to helping digital currencies reach their full potential by empowering customers with real opportunities.


The International Chess Federation to Launch a Global NFT Trading Platform

The International Chess Federation (FIDE) has announced a partnership with Everscale Network (ex-FreeTON) developers, TON Labs, to launch a new chess NFT ecosystem called News.Bitcoin reports. Thus, FIDE actually became the first global sports federation to launch its own non-fungible token market. The full functionality of the trading platform will be launched at the end of November — for the upcoming World Chess Championship in Dubai. ChessNFT will be available for both players and chess fans. Users will be able to place bets and buy chess NFTs featuring iconic tournament moments, unique collectibles, themed art, and other "genre" features. The platform interface will allow the use of both fiat and digital currencies. But what is most interesting — chess NFTs will be created in the new TrueNFT format on the Everscale network (new name of the FreeTON network). It is reported that they will have a number of advantages over the existing formats, but there is no specifics yet.


India May Start Levying Indirect Taxes on Crypto Asset Holders

In anticipation of the winter session of the Indian parliament, at which it is planned to pass regulatory laws for the crypto industry, the country's leadership said that it is considering the possibility of imposing a goods and services tax (GST) on digital assets. AMBCrypto reports. Before that, it was only about a direct tax on profits from crypto assets, but the authorities clarify that if digital money is used to pay for services and products, then such transactions will fall under the jurisdiction of the tax on goods and services. The November session is considered crucial for the country as India has recently softened its stance on cryptocurrencies. The country does not openly intend to grant them legal tender status, but it also sees no point in banning them altogether. Now about 20 million residents of the country are the owners of the cryptocurrency. If the government passes a regulation law that allows for indirect taxation, crypto platforms are likely to charge traders and investors 18% GST. In addition, cryptocurrencies are planned to be taxed based on individual tax rates using surcharges, the calculation of which has not yet been explained.