People Bank’s Of China Official Announces Further Crackdown

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Bitcoin (CRYPTO: BTC) and other cryptocurrencies “are not legal tenders and have no actual value support,” according to Deputy Director of the Financial Consumer Rights Protection Bureau of the People’s Bank of China (PBoC) Yin Youping.

What Happened: According to a report by local news outlet People’s Daily Online, Youping said that cryptocurrencies are purely speculative assets. He also advised the public to increase its risk awareness and stay away from the crypto market to “protect their pockets.”

The PBoC official also said in anticipation of the possible crypto market rebound and their related operations in China, the central bank

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Slovenian finance authority proposes 10% tax on crypto income

Benz Seo

According to regional media reports, the Financial Administration of the Republic of Slovenia, or FURS, is considering imposing a 10% taxable income bill on cryptocurrency asset activity in the near future.

Under the current legislation method, the authority analyzes an individual’s digital asset activity on a case-by-case basis by trawling through their buy and sell transactions. This can result in a stagnant and tedious crypto administrative process.

The introduction of this progressive initiative aims to digitally streamline the process, focusing solely on the purchase of goods and services, or the conversion of crypto assets into fiat currencies. Within these parameters,

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How to Earn Passive Income with Cryptocurrency

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Photo by Executium on Unsplash

When you take your money and invest it in the market, your primary goal is to grow your bottom line. One way to do that is to consider diversifying your portfolio to include various investment niches and types. Ultimately, you want to reach a point where you can rely on your investment choices to bring in new income even while you’re sound asleep. To do that and have your money work for you, design your portfolio in a way that generates passive income.

But setting up a passive income source can be a challenge in

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Japanese financial regulator considers imposing stricter crypto rules

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Japan’s financial regulator, the Financial Services Agency (FSA), has started discussions around imposing stricter regulations for cryptocurrencies in an effort to provide better protection to Japanese investors.

Back in July, the FSA established a dedicated section as well as a panel of financial experts to help the government oversee digital and decentralized finance. The agency will also be responsible for keeping track of developments in cryptocurrencies and central bank digital currency initiatives, as reported by Jiji Press.

The financial regulator intends to have replaced and imposed the new crypto regulations by mid-2022. With the new regulations in place, the

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Top 5 Crypto Exchange Products Breaking Into Global Market

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The numbers don’t lie; more and more people are getting into cryptocurrency than ever before – Naturally, this means more people are trading on exchanges and exploring the ever-expanding list of investment methods, on varying protocols, and with traditional or innovative approaches. This has given rise to a new crop of crypto exchange products that push the boundaries of how cryptocurrency can be leveraged whilst offering more convenient ways to trade crypto and make a profit.

While the crypto exchange sector is currently going through a metamorphosis, some exchange products that have dominated local markets are now aiming at taking

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ADA, SOL Lead the Way as Crypto Market Sees Price Pullback

Benz Seo

The crypto market is a sea of red, with Solana’s SOL, Cardano’s ADA tokens and other alternative cryptocurrencies taking a bigger hit than bitcoin and ether. The move seems typical of a breather often observed after notable rallies.

ADA was trading at $2.67 at 10:53 UTC, representing a 7.6% drop on a 24-hour basis, and SOL was nursing a 13% loss at $68, according to data source Messari. ADA debuted on Japanese cryptocurrency exchanges today. Earlier this month, Sebastien Guillemot, CTO at dcSpark and a former executive of Cardano-founding entity EMURGO, hailed ADA’s entry to Japan as being similar

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