Digital Assets

BNY Mellon, the oldest bank in America, has revealed that it would be moving into cryptocurrencies. This Move is a major one for the crypto industry as it continues the rapid adoption of crypto-assets by traditional financial institutions.  Crypto custodial services The custodial bank revealed on Thursday that it would be launching a crypto-based custodial service. This service will help hold, transfer, and issue crypto-assets, including bitcoins, on behalf of its institutional clients.  BNY Mellon will also enable the transfer…

According to reports, Russian officials have been informed that they must get rid of their crypto-assets before April 1. This is part of the sweeping regulations introduced by the European country in its quest to reduce corruption. Government Officials Must Relinquish Crypto-Assets The directive was issued by the Russian Ministry of Labor in a letter dated December 16th and recently published on the Ministry’s website. According to the contents, government officials at federal and local levels are prohibited from owning…

Recently, South Korean wallet provider known as Childly carried out a survey. Over 5,750 cryptocurrency users across the world were involved in the poll. The results revealed that 66 percent of respondents support cryptocurrency asset taxation. Likewise, it showed that one out of five cryptocurrency users do not support digital asset taxation. Generally, the survey showed that the cryptocurrency community is warm towards taxation. Forty-eight (48) percent of the respondents said it is mandatory to tax cryptocurrency assets; hence, they…

Cryptocurrency, most commonly identified as digital money, was first instituted in 2009 with the famous Bitcoin launch. Litecoin followed the launch in 2011; since then, many more crypto assets have joined the crypto world.  Cryptography secures the currency in crypto, thus protecting against counterfeiting and double-spending. The host of crypto is blockchain, a decentralized ledger system using state-of-the-art infrastructure.  Recently, the advancements in the crypto world have made many people think of investing in crypto. Naturally, beginner investors want to…