BitYard Weekly Roundup (2022/03/15 – 2022/03/22)

2022 年 4 月 7 日

Top News Released:

1) New NFT collections by Diesel, AN1 & Swappable

Swappable partnered with digital fashion brand Another-1 (AN1) to launch NFT sneaker collection, NTR1-Meta, with phygital products, unique runway garments, and metaverse wearables, featuring a token with a unique physical and digital showpiece, while Diesel recently launched D:VERSE, its bridge between the virtual and real world, with phygital products, unique runway garments, and metaverse wearables, featuring a token with a unique physical and digital showpiece.

2) Russian Banks to track crypto-related transactions

The Central Bank of Russia (CBR) has advised commercial banks to pay more attention to their clients’ cryptocurrency transactions. In light of currency limits imposed by western sanctions, the regulator compels financial institutions to monitor such activities. The CBR’s latest attempt to restrict crypto-related transactions comes despite recent statements indicating that Russia is interested in using digital currencies to restore its access to global finance, which has been severely hampered by sanctions imposed in response to its military invasion of Ukraine. Western partners have taken steps to prevent Moscow from evading the sanctions by using digital assets

3) Thailand Relaxes Tax Rules for Digital Assets for 2022

Thailand’s lawmakers have relaxed tax rules for investments in digital assets to help promote and develop the industry following a surge in cryptocurrency trading. Finance Minister Arkhom Termpittayapaisith indicated in a press conference that the rules will allow traders of digital assets to offset losses against gains for taxes due on cryptocurrency investments, as well as exempt cryptocurrency trading on authorized exchanges from a value-added tax of 7%.

4) Indian crypto tax policy to treat each digital asset investment independently

The government intends to treat each crypto trading pair transaction separately, deterring traders as it would only tax their profits without accounting for the losses.

Indian crypto tax policy became even more complicated just a week before the new tax laws are set to come into effect. A new parliamentary note answering queries about the new tax policies on virtual digital assets suggests that traders can’t offset their losses from one digital asset against profit on another.