Weekly summary of cryptocurrency messages 23.05.2022

• Despite China's ban on crypto mining, the hash rate remains a leading
• Portugal issues regulations for the introduction of a capital gains tax on cryptocurrencies
• Japanese Bank Nomura later founded a crypto subsidiary
this year
• Russia's Minister of Commerce insists that the crypto legalization is not a question of the OB, but when it is
• Shopify dealers can now integrate Crypto.com Pay for payments into their stores

report: China lags the USA at Bitcoin mining in the middle of last year only in the middle of last year

crypto mining, especially Bitcoin, is and will continue to be an environmental problem, since it uses a proof-of-work consensus model that is naturally energy-intensive. Last year China banned the entire cryptocurrency mining in the country because of the massive power consumption before it later issued a blanket ban on crypto activity.

newly published Data from the Cambridge Center for Alternative Finance (CCAF), a year later, indicates that the Chinese crypto ban has not yet had its full effect. The data show that China in the Bitcoin mining activities only stayed behind the USA last December (current figures). It recorded 21 % of the total Bitcoin Hash rate, while the United States was leading 37.84 % of the global hash rate.

to believe that after a decline in the hash rate to 0 % between July and August last year, it would only be due to hidden crypto mining activities. The CCAF explained that such miners would probably do small companies and to move into power-independent electricity to avoid china strict anti-crypto posture.

Kazakhstan, Canada and Russia complete the top 5 with 13.22 %, 6.48 % or 4.66 % of the hash rate.

That is why Portugal's status as a "crypto tax oasis" could soon be over

Portugal is known for its tax-free crypto environment in the community, a factor that has supported the development of crypto and blockchain technology in the country. However, this could change soon. Local news agency

The statements of the finance minister followed António Mendonça Mendes, State Secretary for Tax Affairs. He proposed to introduce VAT and a stamp tax on cryptocurrencies.

nomura is on the best way, a crypto subsidiary in accordance with a Publication Financial times last Monday sent . with the plan to bring the crypto unit on the market later this year, the bank would enable customers to interact with products around crypto, not fungible tokens (NFTS), stable coins and decentralized finances.

Loudly with the matter, the unit would be fully under the bank and would probably have around 100 employees by 2024. The Japanese mammoth bank intends to expand the department so that it can compete with the banking giants that already offer digital users.

At the end of last week, Nomura announced that it has completed his first excessive trade with Bitcoin derivatives. According to a published explanation, the option and appointment trade on Bitcoin in cooperation with Cumberland DRW was carried out at the CME Group's Appointment Exchange.

In the intention of serving the increasing demand that the bank currently sees, Rig Karkhanis, Head of Markets at Nomura, Asia Ex-Japan, said that the new product would enable it to serve interested institutional customers. By moving, Nomura belongs to the Majors Welt banks, including JPMorgan and Goldman, who have dealt with different products about different products To offer engagement in cryptocurrencies.

It is a question of when not, says a Russian official about crypto legalization

The Minister of Industry and Trade in Russia, Denis Manturov, has interfered in the discussion about cryptocurrencies. Manturov believes that the legalization of cryptocurrencies to use when processing payments in the country is a question of legalization when this will happen. "

Speech at the New Horizon Education event, local news agency TASS reported that this was the case, since both the government and the central bank are now Read crypto from the same side. In fact, he insists that the legal crypto use will come " Sooner or later in one or the other format."