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Crypto Fails To Impress For Corporate Tax Payments

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When the state of Ohio partnered with cryptocurrency company BitPay last year, it meant the state would become the first in the U.S. to allow businesses to pay their corporate taxes in bitcoin. Ohio’s effort signaled a renewed push for corporate adoption of cryptocurrency.

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NY Creates Cryptocurrency Task Force

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A New York State politician announced the creation of what he called the nation’s first cryptocurrency task force, to “study how to properly regulate, define and use” the currency, according to a Facebook post and reports. Cryptocurrency, however, is more than just an asset that stores value.

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Bitcoin Daily: Russia’s Sberbank To Launch Stablecoin This Year; Pornhub Expands Crypto Payment Options

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The filing process only takes about 45 days, but Sberbank is also still debating how Sbercoin will be taxed, according to Cointelegraph, citing news agency Interfax. In other news, Pornhub added four more cryptocurrencies to the site’s payment options, The Block reported. and Singapore, The Block noted. Meanwhile, Nebraska Sen.

Nebraska 142
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Avanti Plans Real-Time Settlement Solution For Corporate Treasurers

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dollars that does not suffer from the delayed settlement and chargeback issues of traditional payment solutions, or the legal, accounting and tax issues of stablecoins,” the release stated. SPDIs may focus on traditional assets as well.” ” The state already had a reputation as a pioneer in digital financial transactions.

Wyoming 153
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The ‘Peril And Promise’ Of Blockchain

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” Oliver was discussing cryptocurrencies and blockchain on his show, highlighting the massive potential the world of FinTech has touted for the last year or so. Earlier this week, the head of the International Monetary Fund (IMF) described this dichotomy as the “peril that comes along with the promise” of cryptocurrencies.

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Bitcoin Daily: Seagate Data Storage Firm Uses Blockchain To Fight Fraud; Brazil Citizens Must Report Crypto Transactions To RFB

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In other news, Brazil’s Tax Authority has announced that transactions involving cryptocurrencies must now be reported to the Department of Federal Revenue ( RFB ). Those who do not comply will face penalties ranging from 100 to 500 Brazilian reais or from $25 to $130, according to Cointelegraph.

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Canada Mulls Public Digital Coin

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The Logic was the first to report that the country’s central bank is investigating both opportunities and challenges focused on the project, with some believing that creating a public central bank digital currency (CBDC) could help tackle direct threats related to cryptocurrency.