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Cathie Wood says central banks might add crypto to their balance sheets. Here's the list of bitcoin-skeptic central bankers who think otherwise

17 days ago   |   By Business Insider

Summary List Placement Superstar investor Cathie Wood said on Thursday central banks in emerging markets could add cryptocurrencies to their balance sheets to protect against the effects of deflation as the economic boom cools.
She told CoinDesk's Consensus event that emerging market central banks - and maybe even the eurozone - could well start holding hard assets like bitcoin "because they know their currencies are going down, and that they will be under attack as reserves go down."
Yet central bankers have by and large been dismissive of crypto, including those in emerging economies...
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Bitcoin sinks 8% as crypto market volatility again rears its head

Bitcoin sinks 8% as crypto market volatility again rears its head

17 days ago   |   By Business Insider

Cesc Maymo/Getty Images
Bitcoin falls more than 8% Friday as part of a wider slump in the cryptocurrency market.
South Korea is reportedly set to levy a 20% tax on crypto transactions starting next year.
The value of the global cryptocurrency market has slid to $1.6 trillion during May.
See more stories on Insider's business page .
Bitcoin dropped by more than 8% to trade under $36,000 during Friday's session, slumping alongside other cryptocurrencies as the market starts wrapping up a month rocked by regulatory threats and Tesla's about-face on accepting bitcoin as payment. The world's...
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Australian crypto investors must report profits or face penalties for tax evasion, government official says

Australian crypto investors must report profits or face penalties for tax evasion, government official says

17 days ago   |   By Business Insider

Summary List Placement Australian crypto investors must report their profits to the Australian Tax Office or risk penalties for tax evasion, assistant commissioner Tim Loh told news.com.au. Crypto is classed by the ATO as an asset, not a currency, and so is taxable - something many investors are unaware of, he said.
The ATO will contact around 400,000 people in 2021 to ask them to review their previous statements about cryptocurrency investments or to divulge the profits and losses they made on these, news.com.au reported.
Crypto assets and investments are treated in the same way as shares...
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