• White House supports tougher crypto tax regulations
• : I will create my own hard fork, with low combustion and gas costs
• FTX Updates: Binance Tokens, Yield Guild Games, League of Legends
• Xiaomi (OTC 🙂 opens cryptocurrency payments in Portugal
• Geek watch: Spider-Man digital figures become Marvel’s first official NFTs

White House supports tougher crypto tax regulations

President Biden’s administration has expressed support for the more stringent crypto regulatory changes in the Infrastructure Bill. The amendment, proposed by Senators Warner and Portman, excludes developers and miners of PoW from tax reporting requirements.

The original infrastructure bill was intended to require digital asset “brokers” to report their crypto capital gains. Senators proposed two concurrent amendments, seeking to clarify the term “broker”.

Alternative amendments by Senators Wyden, Lummis and Toomey propose exempting miners, crypto validators, protocol developers and wallet creators from taxation.

The final vote is expected to take place tomorrow.

Flipsider:

• Bitcoin has supporters in the White House, eh? All kidding aside, if tougher taxation goes into effect, the U.S. crypto space could face the risk of capital migrating to more crypto-friendly environments.

Ethereum: I will create my own hard fork, with low combustion and gas costs

The long-awaited London hard fork happened yesterday. The upgrade aimed to implement two major improvements: lowering gas prices and limiting supply in order to create pressure on prices.

For now, the upgrade performs the mentioned functions in half. Over $ 10 million in ETH has been destroyed so far. So far, the price has not increased as impressively as expected. The gasoline costs haven’t really changed since the update, in fact the level of gwei is even higher than it was during the whole month of June.

Flipsider:

• Maybe it will take a while to feel the difference, or maybe we need to escape the summer lull first. In any case, the NFTs have so far had more influence on gas prices than the London hard fork.

FTX Updates: Binance Tokens, Yield Guild Games, League of Legends

The FTX exchange has listed the native tokens of its competitor: BUSD and BNB. Cryptos are supported on FTX wallet services. FTX CEO Sam Bankman-Fried commented, “Withdrawals are live – I * think * deposits are; otherwise, they will be very soon.

FTX has signed an agreement with Yield Guild Games to sponsor 137 players from developing countries. Selected users will receive FTX scholarships to cover the cost of “breeding” Axie.

This is not the first time that FTX has touched the video game industry. Just two days ago, FTX announced a 7-year sponsorship deal with League of Legends, and its brand will be featured in the League of Legends Championship Series (LCS). The move is to allow FTX to acquire the naming rights to the professional esports team “TSM” for $ 210 million in June.

Flipsider:

• The FTX exchange has seen a lot of media turnover in recent weeks. Is this just a well-prepared PR campaign, or a series of real developments being made at the speed of light?

Xiaomi open for cryptocurrency payments

Crypto-friendly Portugal has become a testing ground for Chinese electronics giant Xiaomi, where the company’s official retailer, Mi Store, has started accepting cryptocurrency payments.

The Mi Store allows the purchase of technological gadgets with various cryptocurrencies, including Bitcoin, Ethereum, and Tether.

Xiaomi has overtaken Apple (NASDAQ 🙂 and is now the second largest smartphone maker in the world.

Portugal is one of the most crypto-friendly countries in Europe and does not impose any taxes on cryptocurrency capital gains.

Flipsider:

• Xiaomi officially declares that the Mi Store operates independently and is not linked to the Xiaomi company.
• Last May, Xiaomi was taken off the US blacklist. The former presidential administration had linked her to the Chinese military, and Xiaomi herself has been accused of spying on users’ personal data through smartphones.

Geek Watch: Spider-Man digital figures become Marvel’s first official NFTs

The comic book giant is entering crypto! Marvel has showcased Spider-Man sculptures that will retail for between $ 40 and $ 400 each through the VeVe Marketplace. Following the recently revealed partnership between Marvel and VeVe, Spider-Man will not be the only character that will be officially purchasable as NFT, as beloved characters such as Wolverine, Iron Man and Captain America will be available at the to come up. .

Be part of @Marvel’s story! Spider-Man FIRST APPEARANCE in premium digital collectible format drops August 7 at 8:00 a.m. PT. (3/5) #MARVELxVeVe pic.twitter.com/SDLbV8udVi

– VeVe | Collection 2.0 (@veve_official) August 4, 2021

Flipsider:

• A very interesting choice of marketplace. How much did they pay Marvel to promote them?

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