• Wed. Jun 22nd, 2022

German Inflation Rate Jumps, Kazakhstan Considers Higher Tax for Bitcoin Miners, Binance in Italy + More News

ByHazel R. Lang

May 30, 2022
Source: iStock/Hamid Ebrahimi

Get your daily digest of crypto-asset and blockchain-related news – by investigating stories that fly under the radar in today’s crypto news.


Economic News

  • Annual inflation in Germany is expected to be +7.9% in May 2022, according to DeStatis, the country’s Federal Statistical Office. In April 2022, the inflation rate was 7.4%. Prices rose 0.9% in one month, they added.

Mining News

  • Kazakhstan’s government has said it will seek to raise tax rates for bitcoin (BTC) and crypto miners – as long as it can receive parliamentary approval. In an official statement, the country’s finance ministry said a “draft law is currently under consideration” by MPs, which aims to “increase the rate of [tax] payment” for minors. The ministry added that in the first quarter of the fiscal year, miners paid more than $15 million in taxes – most of that income coming from miners based in the capital Nur-Sultan (formerly Astana).

Adoption News

  • Crypto exchange Binance announced that Binance Italy has obtained regulatory approval in the country by registering as a cryptocurrency service provider with the Organismo Agenti e Mediatori (OAM), the Italian agency of agents and brokers, dedicated to service providers offering virtual currency and digital wallet services in Italy.
  • Digital Asset Custodian Digital Anubi declared to have subscribed to the list of virtual currency operators maintained by OAM. In accordance with registry regulations, Anubi Digital will transmit to the OAM data on transactions carried out in Italian territory on a quarterly basis.

Investment News

  • Asian bank Commercial Bank of Siam announcement that its venture capital investment subsidiary SCB 10X has deposited a portion of its uninvested funds in the decentralized finance (DeFi) protocol Compound (COMP)’s US Dollar Coin (USDC) Yield Generating Product for Institutions.
  • esports organization galaxy runner in partnership with the metaverse project Quintet, also investing $25 million in the project’s native QUINT token. The partnership will also see the crypto company become the “Native Ecosystem Token Partner” of the esports organization, they added.

CBDC news

  • The Reserve Bank of India (RBI), the country’s central bank, has proposed a three-step graduated approach to deploying a central bank digital currency (CBDC) “with little or no disruption” to the traditional financial system. Stages would include proof of concept, pilots and launch, while the RBI said it was verifying the feasibility and functionality of launching a CBDC.

News of mergers and acquisitions

  • The global industry association for the blockchain technology ecosystem Global Blockchain Business Council (GBBC) announced a merger with the association of market standards for the adoption of crypto and digital assets, Global digital finance (GDF). The combined association will have nearly 500 institutional members and 178 ambassadors, operating in 95 jurisdictions and disciplines, they added.

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