"EU plans bills for EU CBDC and metaverse." Jan 24, 2023 - Transcripts

January 24, 2023

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The longest-running daily podcast briefing for news about bitcoin, blockchain, digital assets, and all other global cryptocurrency, web3, metaverse, and DLT updates.


It's 8am Eastern January the 24th and this is your daily crypto report. Bitcoin is up slightly at $22,982, Ethereum is down slightly at $1,628 and Binance Coin is up slightly at $314. The European Union is working on plans for a digital euro bill that will support the currency and also set out its strategy on the metaverse. The two bills are due out in May, the groundwork bill for the CBDC comes as the Commission indicates new laws could be needed to assert the planned EU's CBDC status as legal tender with the EU's Financial Services Commissioner saying it will be negligent if Europe did nothing now but at some point in 5 or 10 years had to urgently rush through releasing a CBDC. That's interesting because it gives an indication at least in her mind what the timeline is for this possible digital currency. More moves by the lawmakers in the EU, a new crypto tax is being proposed by lawmakers to help fund the budget, taxing capital gains, mining or options for taxing crypto transactions are all being looked at to fund the EU's $185 billion annual spending. These indicators come from the Parliament's Budget Committee, apparently the report suggests the introduction of a European tax on crypto assets whose revenues would flow into the European budget. The taxation at the block level is being considered as according to lawmakers taxing crypto assets at the EU level is more efficient than at a national level given their high mobility and cross border dimension. Meanwhile the French National Assembly will debate and vote today on whether crypto firms will need to abide by strict licensing in the coming years ahead of those broader European Union rules. The vote comes after weeks of French officials calling for stricter crypto regulation in the country. While the wormhole exploiter is moving funds after some inactivity, the address is swapping ETH for staked ETH and prepping it to move to DeFi, the hackers in the process of leveraging up. Wormhole responded to the exploiter reiterating its offer to capitulate with a $10 million bounty award for the return of all stolen funds via an on-chain message.

BlockFi is looking to sell around $160 million in Bitcoin mining loans amid its bankruptcy proceedings. Bloomberg said some of the loans may be under collateralized at this point due to the more than 80% decline in machine prices over the last year. And finally, New York-based exchange Gemini has laid off 10% of its staff according to the information. Co-founder and president Cameron Winklevoss said the layoffs were due to poor macroeconomic conditions and so-called unprecedented fraud in the crypto industry. This is the third round of layoffs the company has undergone in the last eight months. Well, that's all for us today and visit us at DailyCryptoReport.io for sources and

links and listen to us everywhere else you podcast under Daily Crypto Report. If you're wondering what businesses are doing and what more they should do to confront climate change, then check out the Climate Rising podcast. Produced by Harvard Business School and hosted by me, Professor Mike Toffel, Climate Rising gives you a behind-the-scenes view into how some of the world's best and brightest leaders are confronting climate change. That includes interviews with leadership from companies like New Belgium Brewing and HP about how they're adapting their operations and supply chains to address the impacts of climate change and from organizations like World Wildlife Fund and McKinsey on their roles to help companies reach their climate goals.

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