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Cryptocurrency exchange and custodian Gemini has plans to sub-custody a Bitcoin ETF in Canada, which was filed on Jan 11. The filing was done by Arxnovum, a Canadian investment firm, and if approved, will be listed on the Toronto Stock Exchange under the ticker “BIT.U.” Bitcoin ETF Still Needs to… ....
Reading Time: 2 minutes by Evan Ezquer on January 13, 2021 Regulation On Jan 8, two legislators in Kentucky have recently submitted a bill that aims to make the US state a very attractive option for cryptocurrency miners in the form of tax breaks. Kentucky Crypto Mining Bill The proposal was submitted to the General Assembly, which would see Bitcoin and other cryptocurrency miners enjoy some tax exemptions. The legislators of the bill are Republican lawmakers, Steven Rudy and Chris Freeland, who referred to the bill as: “AN Act relating to the taxation of the commercial mining of cryptocurrency.” The thirteen-page document would see miners enjoy 6% sales taxes and 6% excise tax exemptions on tangible personal mining property being directly used, as well as electricity being consumed, for the purpose of mining cryptocurrency commercially. Additional leverage would also be added for these miners especially when it comes to power and energ ....
Reading Time: 2 minutes by Evan Ezquer on December 17, 2020 Bitcoin Quontic Bank becomes a pioneer FDIC-insured financial institution to launch a Bitcoin rewards checking program, as announced yesterday in a press release by PR Newswire. Earn Bitcoins While Shopping According to the announcement, users of this reward system would have access to surcharge-free ATMs, ApplePay, GooglePay, SamsungPay, and Zelle peer-to-peer payments at no cost. In addition, customers would also be able to earn at least 1.5% back in Bitcoins on any eligible purchases they make with their Quontic debit cards. The bank is working with NYDIG, a Bitcoin specialist firm that would act as the custodian of the crypto asset. The bank would also be working with FIS to build a mobile app that would keep track of such Bitcoin rewards. It is expected that the app would be launched by the second quarter of 2021. ....
Reading Time: 2 minutes by Evan Ezquer on December 16, 2020 Regulation The newly-elected crypto-loving Senator Cynthia Lummis has announced that she will be having Tyler Lindholm, also known as the ‘Crypto Cowboy,’ as the Policy Director for the State of Wyoming. State Rep. Tyler Lindholm is a former representative from Sundance and was a Co-Chair of the Wyoming Blockchain Task Force back in 2018 and 2019. Lindholm, A Long-Time Blockchain Sponsor Lindholm was known by the crypto-community for his support of several blockchain initiatives. Amongst his most notable records include his sponsorship of 13-blockchain enabling laws that aimed to establish a framework for blockchain development. ....