Kozminski Techblog

Nirmala Sitharaman finance minister of India announced that all of digital crypto assets will be placed in highest tax bond. It means that around 20 million investors will have significantly lower revenue starting from this year.

According to studies there are around 400 bilion rupees (5,7 billion $) of crypto assets stored in india. The new regulations can signifcantly reduce this number.” If you made a profit of 100 rupees then including the 30% tax bracket, plus surcharge and cess the total tax outgo will be around 42 rupees,” said Amit Maheshwari, partner at AKM Global. This regulations can really disturb the market balance in India, but some people are seeing a good side of this crypto ,,acknowledgement”

“Thirty percent tax on income from virtual digital assets, while high, is a positive step as it legitimises crypto and hints at an optimistic sentiment towards further acceptance of crypto and NFTs,” said Avinash Shekhar, chief executive of ZebPay, a cryptocurrency exchange.

To summarize in the short-term this new proposed regulations can negatively impact crypto market in India but in a bigger picture this sets the groundwork for adopting De-Fi ona bigger scale

Resources:

https://www.bloomberg.com/news/articles/2022-02-01/india-to-launch-central-bank-digital-currency-next-fiscal-year

Back in October 2021 Facebook anounced that company will rebrand itself into ,,Meta” – in the effort to embrace the metaverse concept

“The metaverse is essentially a massive, interconnected network of virtual spaces. In theory, we’ll be able to move from one virtual world to another in the metaverse, but we’ll be wearing virtual reality goggles or maybe augmented reality.” says Rabindra Ratan profesor at Michigane state University

Technologies that are currently very well developed(such as VR googles, will play a crucial role in bringing metaverse to life. Companies like Meta are already investing in branches related to the metaverse as they try to enter this market and beat their competition. Tech giants trying to monopolize this decentralized space just as they did with WEB3. It raised concern aoround the question if the metaverse will really be a decentralized space or just a new stage of WEB2.

Nevertheless it is important to monitor this new concept as Metaverse concept with will be much more present in our daily life

Resources:

https://abcnews.go.com/Technology/metaverse-impact-world-future-technology/story?id=82419587

The 10.3 version of FSD(Full Self-Driving) brought an error that let the car to illegally roll through stop signs at speed of up to 5.6 MPH. The NHTSA(National Highway Traffic Safety Administration) wrote in the recall report that “Failing to stop at a stop sign can increase the risk of a crash”, but Tesla said that it doesn’t know of any crashes caused by this error. An OTA release to disable rolling stops is expected to be sent by early February.

Sources:
https://techcrunch.com/2022/02/01/tesla-recalls-full-self-driving-feature-that-lets-cars-roll-through-stop-signs/
https://www.aljazeera.com/economy/2022/2/1/tesla-agrees-to-disable-self-driving-feature-that-runs-stop-signs

Gilbraltar, a current stock exchange has just announced that the financier Richard O’Dell Poulden will buy an 80% stake in the Gibraltar Stock Exchange to create an exchange where you can trade stocks and bonds for cryptocurrencies. Essentially, this exchange is aimed to allow cryptocurrency holders to get more value out of their tokens since currently there is much that you still cannot purchase with cryptocurrencies. Moreover, it also allows the holder to avoid the volatility of the cryptocurrency market and instead convert their tokens into a lower-risk investment.

This new exchange is essentially a place where millionaires can avoid paying capital gains taxes, transaction fees and to be run by a company from a place that is considered a tax haven for millionaires to save millions of dollars with offshore bank accounts. I consider this to be a good idea for public companies in the sense that combining the cryptocurrency and stock market will bring two investors together that often stick to either stocks or crypto. There are many investors that solely invest in cryptocurrencies and likewise for stocks. It’ll mean that there will be millions of dollars worth of cryptocurrencies being used to buy up the stocks of companies with will drive their company value up which is absolutely good for managers and their companies. However, I do not believe that it is right for millionaires to be able to bypass paying taxes so in that regard I think that this idea is being created with the wrong vision and should put systems in place to prevent tax evasion as well as to regulate the winnings per transaction.

https://www.wired.com/story/gibraltar-crypto-exchange/

https://www.forbes.com/sites/investor/2020/05/13/bitcoin-and-stocks-correlation-reveal-a-secret/