#27 e-Rupee is here🪙
By Muskaan Sethi and Aditya Humnabadkar
gm guys!
It was the second consecutive week of flat crypto prices. Not much movement on the market. However, we do have a lot to discuss as web3 made several headlines over the past few days.
Let’s dive into it.
This week in the cryptic land🤔
Say hello to E-Rupee From India👋
The RBI this week has started rolling out its version of digital currency by publishing a 'concept note' for the rupee's digital version, dubbed the e-rupee, which would be tested as an alternative form of money in different phases in the Indian market.
In a nutshell, even though the digital currency is well-intentioned and provides consumer protection benefits, it still defeats the purpose of cryptocurrency. To know more about the actual benefit of cryptocurrency, consider reading this article.
Portugal rolls out new crypto tax rules😟
The new cryptocurrency tax policy in Portugal announced in its 2023 budget has put a 28% capital gains tax on cryptocurrency gains made within one year, with gains after a year would be exempted from such a tax. There would also be a 4% tax on crypto transfers.
Portugal has always been a cryptocurrency haven in the past, but will the new approach towards crypto will have effects on its economy or not remains to be seen.
Samsung adopts blockchain for security💪
In an effort to develop robust security measures for its smart devices, Samsung has decided to incorporate the Knox Matrix solution. This will integrate various smart devices available on a network with the device ecosystem. Besides providing security, Knox Matrix will simplify login tasks across all user's devices.
In our opinion, this is a welcome move as far as blockchain adoption is concerned as it brings it into mainstream use.
You've been sued, says Coin Center to the US⚖️
Coin Center has accused the US treasury of banning the use of coin mixing services. The organization says that Tornado Cash is crucial as it is a privacy measure for Ethereum users and has accused the government of stopping people's right to private transactions. This also puts people donating to political causes such as the Ukraine war at risk as now they'd have to make their donations public on the blockchain.
What else are we nibbling on?
Users can now pay with Bitcoin, Ethereum, and Dogecoin on Google Cloud through Coinbase.
OpenSea Adds Avalanche NFT Support
Academy Award winner Anthony Hopkins sells out his NFT collection in minutes.
That’s it for this week folks. We’ll see you next week with more interesting content.