“Coinbase is opening a derivatives exchange in Bermuda as part of an international expansion plan that comes as the publicly traded firm faces regulatory headwinds at home.
Called Coinbase International Exchange, the new facility will initially let traders bet on the price of bitcoin and ether via perpetual futures contracts with up to five times leverage and all trades will settle in the stablecoin USDC. In a blog post Coinbase said trading has begun.
Rest assured that Coinbase is committed to the U.S., but countries around the world are increasingly moving forward with responsible crypto-forward regulatory frameworks to strategically position themselves as crypto hubs. We would like to see the U.S. take a similar approach instead of regulation by enforcement.”
See Also: Coinbase Grew Quickly by Working With U.S. Regulators. Will It Expand Even More by Disregarding the SEC?
See Also: Coinbase Sued for Privacy Violations Over Users’ Biometric Data
“Sports Illustrated’s ticketing marketplace SI Tickets has developed “Box Office” in partnership with Ethereum software firm ConsenSys, the company behind crypto wallet MetaMask.
The announcement on Tuesday says it will be the world’s first complete NFT ticket service, allowing event owners, organizers and promoters to use Box Office to build further engagement opportunities into tickets, such as highlights, collectibles and offers through a feature called “Super Ticket.”
Blockchain is the future of ticketing, and now owners, promoters, hosts and attendees have access to an advanced ticketing experience that transforms the antiquated barcode into engaging and collectible content.
Blockchain technology offers significant benefits for consumers, particularly ticketing, including enhancing payment security, and eliminating scalping and fraud.”
“Interest in “Bitcoin Request for Comment,” or BRC-20, tokens built with Ordinals and stored on the Bitcoin base blockchain has skyrocketed. A pseudonymous on-chain analyst named Domo created the BRC-20 token standard in early March to facilitate the issue and transfer of fungible tokens on the Bitcoin blockchain.
The BRC-20 standard sounds like the popular ERC-20 standard, but the two are different, with the former lacking the ability to interact with smart contracts. Most active BRC-20 tokens fall into meme coins.
This [BRC-20] is not a token standard like you’re accustomed to with [Ethereum Virtual Machine] chains, which create smart contracts that manage the token standard and its various rules. Instead, it’s simply a way to store a script file in Bitcoin and use it to attribute tokens to satoshis and then allow them to be transferred between users.”
See Also: Sui Token and Network Launch: What You Need to Know
See Also: Bitcoin ‘Flash Rally’ Briefly Pushed BTC Derivatives Above $56K on Bitfinex
“Tax advisers in the U.K. have welcomed proposed rules for decentralized finance (DeFi) lending and staking activities, calling it a positive step that offers some “certainty” for the crypto industry. The new framework proposes that capital gains tax charges for DeFi lending or staking be triggered only with some activities – and not for all transactions.
The government said in its consultation that it agreed with industry members who had previously called for specific rules for DeFi markets, similar to those for repo and stock lending. Advocates were calling for new crypto tax rules for DeFi lending as the old ones triggered too many taxable events and were “outdated” policies.
We applaud HMRC for being the first tax administration to provide specific rules for DeFi.”
See Also: White House Pushes for Punitive Tax on Crypto Mining
See Also: US congressmen chide presidential advisers over crypto stances in economic report
“Crypto conglomerate Digital Currency Group (DCG) said Chief Financial Officer Michael Kraines stepped down in April and revealed that it fully repaid a $350 million senior secured term loan during the first quarter. DCG has engaged Heidrick & Struggles for a new CFO search, according to a letter to shareholders.
Also in the letter, DCG reported first-quarter revenue of $180 million, up 63% from the fourth quarter as crypto prices soared. DCG lost $1.1 billion in 2022 citing plunging crypto prices and the restructuring of Genesis.”