Nayib Bukele on Thursday night said he will be proposing a bill to El Salvador's congress eliminating all taxes on both software and hardware technology innovations.  Next week, I’ll be sending a bill to congress to eliminate all taxes (income, property, capital gains and import tariffs) on technology innovations, such as software programming, coding, apps and AI development; as well as computing and communications hardware manufacturing.— Nayib Bukele (@nayibbukele)  March 24, 2023  It is unclear yet if this measure will extend to bitcoin (BTC) applications, but El Salvador and its presiden

Arbitrum’s native ARB tokens saw more than $2 billion in trading volume in the first 24-hours since going live, data shows. The ARB token serves as a means of governance for the protocol. Holders of ARB can participate in decision-making processes, such as proposing and voting on protocol upgrades or changes. Among crypto exchanges, Bitget and Huobi led volumes with over $250 million worth of ARB traded. Decentralized exchange Uniswap, which relies on smart contracts to match trades between users, saw over $227 million in trading volumes – which netted over $500,000 in fees for liquidity provi

Terraform Labs founder Do Kwon has been charged with forgery in Montenegro and is due in court later Friday for extradition proceedings, according to a report by AFP. The South Korean national has been on the run following the collapse of stablecoin terraUSD, which sent shockwaves through the crypto markets last year. "A criminal complaint was filed against both persons for the criminal offence of document forgery," AFP cites Montenegro's police as saying Friday, a day after Kwon and a second person were arrested at Podgorica airport. A court official said Kwon would appear in a Podgorica cour

Nasdaq (NDAQ) is aiming to debut its crypto custody services by the end of Q2, Bloomberg reported on Friday. The stock market exchange operator's senior vice president and head of digital assets Ira Auerbach said that the firm is working on getting the necessary infrastructure and regulatory approval in place. Nasdaq applied to the New York Department of Financial Services (NYDFS) for a limited-purpose trust company charter which would oversee its custody service. Nasdaq announced its intentions last September as it looked to respond to the demand from institutional crypto investors. Tradition

U.S. accounting standards may be overhauled to specifically factor in crypto accounting, establishing a fair-value approach that would demand certain digital assets be measured at what they would go for in the markets, according to a change proposed this week by the Financial Accounting Standards Board. That’s a departure from the status quo, which marks only unrealized losses and has been seen by the industry as a barrier to crypto adoption. The nongovernmental standard-setting board, which is overseen by the Securities and Exchange Commission, has been working to institute standards for comp

The mining industry is well positioned to participate in a new bitcoin (BTC) cycle, Bernstein said in a research report Thursday. The broker sees positive catalysts from the largest cryptocurrency’s safe haven status, the reward halving due early 2024 and lower energy and equipment costs. Rising bitcoin prices – the largest cryptocurrency by market cap has climbed 70% this year – and easing energy and equipment costs bode well for cash generation and the leverage position of miners, the report said. This should help improve gross margins in 2023. If the bitcoin price continues to rally, Ber

Binance Spot Trading is resumed in less than an hour following temporary suspensionIn the latest update regarding the temporary suspension of spot trading on the exchange, Binance CEO CZ reassured all Binance users and traders in a tweet that the duration of the maintenance would only last approximately an hour. He then explained all necessary steps the exchange will follow as it resumes SOP (standard operating procedure) and how the bug happened during a customary engine screenshot. In a following tweet, CZ reposted Binance Blog announcement confirming that currently all users will be able to

The race between Ethereum scaling platforms to come out with the first ”zero knowledge Ethereum Virtual Machine” (zkEVM) – seen as a key advance in speeding up blockchain transactions and reducing the cost – culminated Friday as Matter Labs opened its zkSync Era to users.Matter Labs said zkSync Era, which launched last month for developers only, is now also open to general users.So-called ZK rollups are a type of blockchain scaling solution based on cryptography known as zero-knowledge proofs. A zkEVM is a special type of ZK rollup compatible with Ethereum Virtual Machine, a piece of software

In the latest global banking crisis, German multinational investment bank Deutsche Bank AG (NYSE: DB) signaled a red alert to investors on Friday. As of March 24, 12:06 p.m. CEST, Deutsche Bank shares traded around $8, down approximately 14 percent. Investors questioned the bank’s stability on Friday after the bank’s credit default swaps that insure against default shot to a four-year high. Troubles at Deutsche BankAccording to market data provided by S&P Market Intelligence, Deutsche Bank’s credit default swaps (CDS) – a form of insurance for bondholders – shot up above 200 basis points (bps)

Binance CEO CZ gave further details on Friday regarding the temporary suspension of spot trading on the exchange, tweeting that Engine 1 was "back online". "Still need more time to do reconciliations, and for other engines to catch up," the CEO said."We were a bit unlucky with this bug. Our engines take hourly snapshots. This bug happened 57 min in. So, replay/reconciliation takes a bit longer," CZ added.The exchange experienced an issue earlier on Friday which caused it suspend spot trading, with CZ attributing it to a matching engine bug based on initial analysis.