Crypto Around The World: May 7 Review
Crypto Around The World: April 29 Review
With institutional interest in crypto at an all-time high in the United States, here is how the rest of the world is reacting in a seeming push and pull between regulation and adoption.
Italian Soccer Says Si to NFTs
With digital collectible NFTs overtaking various art and sports mediums, 11 of Italy’s top soccer teams have announced that they will be joining blockchain digital soccer collectibles platform Sorare in order to launch their own non-fungible tokens (NTFs). This signals further interest in NFTs, positioning them as the future of collectibles.
Iran’s Central Bank Allows Use of Crypto
The Central Bank of Iran (CBI) has informed financial institutions that they are to be allowed to use cryptocurrencies in order to pay for imports. This is largely being seen as a method to circumvent the imposed economic sanctions on the country. Crypto mining is legal in Iran as long as miners obtain a license from the Ministry of Industry, and provided that they sell mined BTC to Iran’s Central bank.
Turkey’s Central Bank Reneges on Total Ban
The head of Turkey’s Central Bank has denied rumors of a total ban of cryptocurrencies, announcing possible regulations and rules coming soon. This announcement comes just days after authorities cracked down various crypto exchange platforms. This all coincides with the steady decline in the value of the Turkish Lira.
Asian Video Game Publisher Goes For Bitcoin
Japanese-South Korean video game publisher Nexon has announced the purchase of $100 million worth of bitcoin. The company managed to nab an impressive 1,717 bitcoins following in the steps of global companies like Tesla and Square. The CEO revealed that he thought bitcoin held “long-term stability and liquidity”. Meanwhile, the South Korean Minister of Finance Hong Nam-Ki described taxing crypto gains as “inevitable,” outlining that traders’ gains will be subject to a 20% tax on profits for over $2.5 million won, the equivalent of $2,252.
For a look at other noteworthy stories, check out our week in review covering crypto market trends and updates on crypto.
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