Krasimir Buchvarov

Krasimir has been following the development of blockchain technology for several years and is optimistic about its potential. He covers breaking news in the sphere, focusing on innovation, regulation, and the cryptocurrency market.

Gemini Announces 3% Cashback Crypto Credit Card

  • The introduction of the Gemini Credit Card was accelerated with the acquisition of fintech startup Blockrize.
  • The new card will allow its users to earn up to 3% back in Bitcoin on their purchases.

Visa & Plaid’s Merger Blocked by DoJ Antitrust Suit

  • The U.S. DoJ has alleged that Visa was using the acquisition to snuff out its competition.
  • The planned $5.3 billion acquisition was canceled almost one year after it was announced.

China Trials Digital Yuan ATMs in Shenzhen

  • Citizens of Shenzhen can now use the newly released CBDC ATMs to convert their cash and savings to and from the digital yuan.
  • The new CBDC trial comes shortly after the city of Shenzhen announced its second CBDC lottery, which distributed around $3 million worth of the digital currency to 100,000 citizens.

South Korea to Implement 20% Tax on Crypto in 2023

  • The South Korean government has introduced an amendment which will see profits made from crypto trading taxed at 20%.
  • After being announced in July 2020, the new tax rules suffered several delays, and will now reportedly come into effect in 2023.

Gaming Giant Nexon to Acquire Bithumb

  • According to local media, the gaming company will acquire a 65% stake in Bithumb at an evaluated price of $460 million.
  • If successful in its acquisition, Nixon will become the owner of three crypto exchanges, having previously acquired Bitstamp and Korbit.

HDBank First to Issue Blockchain Letters of Credit in Vietnam

  • HDBank is one of the few Vietnamese banks that can offer confirmation for L/Cs, and is the first to issue a L/C on the blockchain.
  • The bank joined the Contour open trade finance network, which focuses on digitizing the L/C process, back in May 2020.

LCX Exchange Secures 8 of 11 Crypto Licenses in Liechtenstein

  • LCX has become the first crypto exchange in Liechtenstein to obtain 8 out of the 11 crypto-related licenses.
  • It is now able to not only operate as a digital asset custodian, but also generate security tokens for its clients.

Stellar to Help Ukraine With CBDC Development

  • By signing the memorandum of understanding, Stellar has agreed to assist Ukraine's government in creating their own CBDC.
  • The organization will also help the country in creating and implementing regulations for stablecoins in the country.

Shenzhen Conducting Digital Yuan Giveaway, Again

  • Winners in the lottery will have until 17 January to spend their digital yuan's at one of the 10,000 restaurants and supermarkets participating in the trial.
  • The last digital yuan giveaway, in December, saw the city of Suzhou distribute almost $3 million to 96,614 lottery winners.

India Considering 18% Tax on $5B BTC Market

  • The country's finance ministry has submitted a draft document, which would impose an 18% goods and services tax on Bitcoin transactions.
  • India's Central Economic Intelligence Bureau has estimated that taxing Bitcoun could earn the country around $1 billion a year.