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.