El Salvador's Bitcoin wallet Chivo scores $52M in remittances in 2022
Salvadorans living abroad have sent over $50 million in remittances from January to May this year, according to the El Salvador Central Reserve Bank.Douglas Rodríguez, president of the El Salvador central bank, unpacked the general economic outlook for the country on the local television news program Frente a Frente on Wednesday.
Chivo was launched in September 2021 as the Central American country became the first in the world to adopt Bitcoin (BTC) as legal tender. The launch of the app reportedly attracted more than 2 million users in less than a month, leading to major teething problems for the state-endorsed payment platform.The government-sanctioned payment service provider was relaunched in February this year, necessitated by the onboarding of an estimated 4 million users looking to make use of low fees for payments and transfers made in BTC.
Salvadorans living abroad have sent over $50 million in remittances from January to May this year, according to the El Salvador Central Reserve Bank.Douglas Rodríguez, president of the El Salvador central bank, unpacked the general economic outlook for the country on the local television news program Frente a Frente on Wednesday.
Chivo was launched in September 2021 as the Central American country became the first in the world to adopt Bitcoin (BTC) as legal tender. The launch of the app reportedly attracted more than 2 million users in less than a month, leading to major teething problems for the state-endorsed payment platform.The government-sanctioned payment service provider was relaunched in February this year, necessitated by the onboarding of an estimated 4 million users looking to make use of low fees for payments and transfers made in BTC.
Indian Crypto Taxes Crush Trade Volumes as Local Exchanges Eye Exodus
Trading volumes across crypto exchanges in India have plummeted after a new transaction tax law was recently enforced.According to this rule, it’s now mandatory for exchanges to deduct 1% of the transactional value from the buyer. That amount should then be paid as taxes to the Government.
Following the tax’s implementation last week, the trading volumes across exchanges including WazirX, ZebPay, and CoinDCX fell by at least 50%.On June 30, Binance-backed WazirX hosted a daily trading volume of $14.23 million which slipped to just $5.32 million on July 1. It then dropped as low as $2.73 million on July 3, according to data from Nomics. Though Chainalysis reported that India ranked second for cryptocurrency adoption, the increased tax burden and current bear market have pushed some firms to migrate to crypto-friendlier nations including Dubai and Singapore.
Source
@tamil_btc
Trading volumes across crypto exchanges in India have plummeted after a new transaction tax law was recently enforced.According to this rule, it’s now mandatory for exchanges to deduct 1% of the transactional value from the buyer. That amount should then be paid as taxes to the Government.
Following the tax’s implementation last week, the trading volumes across exchanges including WazirX, ZebPay, and CoinDCX fell by at least 50%.On June 30, Binance-backed WazirX hosted a daily trading volume of $14.23 million which slipped to just $5.32 million on July 1. It then dropped as low as $2.73 million on July 3, according to data from Nomics. Though Chainalysis reported that India ranked second for cryptocurrency adoption, the increased tax burden and current bear market have pushed some firms to migrate to crypto-friendlier nations including Dubai and Singapore.
Source
@tamil_btc
Over the last two years, the dominance of #Tether has been in macro decline.
$USDT has fallen from 88.3% of the stablecoin market, to 45.2% today, now less than half of the market.
$USDC dominance has grown 4.2x, $BUSD by 7.5x, and $DAI by 3.9x over the same 2y timeframe.
$USDT has fallen from 88.3% of the stablecoin market, to 45.2% today, now less than half of the market.
$USDC dominance has grown 4.2x, $BUSD by 7.5x, and $DAI by 3.9x over the same 2y timeframe.
Binance Will Support the REI Network (REI) Upgrade & Hard Fork
https://www.binance.com/en/support/announcement/d2a6ac3008db4bd9a40b7aed80f9724f
https://www.binance.com/en/support/announcement/d2a6ac3008db4bd9a40b7aed80f9724f
Binance
Binance Will Support the REI Network (REI) Upgrade & Hard Fork | Binance Support
Fellow Binancians, Binance will support the REI Network (REI) upgrade and hard fork. The REI Network (REI) upgrade and hard fork will take place at the REI Network block height of 5,606,557 , or a...
Crema Finance hacker returns $7.6 million worth of stolen crypto
https://www.theblock.co/post/156250/crema-finance-hacker-returns-7-6-million-worth-of-stolen-crypto
https://www.theblock.co/post/156250/crema-finance-hacker-returns-7-6-million-worth-of-stolen-crypto
The Block
Crema Finance hacker returns $7.6 million worth of stolen crypto
The Crema Finance hacker has returned the majority of the $9 million they stole last weekend.
JUST IN: Robinhood has added support to send and receive all listed #cryptocurrency assets on the platform.
Eid Mubarak! Wishing you and your family, peace, harmony, happiness, good health and prosperity.
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#EidAlAdha #EidMubarak
❤1👍1
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📋Trading pair: #FREE/#USDT
😉Deposit & Withdrawal: 9AM July 11, 2022
🥳Spot Trading: 9AM July 12, 2022
*UTC
Details: signup.asia/a