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The Spanish Ministry of Finance aims to enhance its authority to seize crypto and non-fungible tokens (NFTs) as part of a new tax reform . The Ministry of Finance of Spain is gearing up to push a new tax reform that would grant it new power to seize cryptocurrencies and digital collectibles in case of failure to pay taxes, according to the Spanish daily newspaper El Economista. The report says the ministry has proposed reform s to the General Tax Law, specifically Article 162, that would empower the local tax agency authority to seize crypto when executing a user debt. Additionally, amendments to the General Collection Regulations are suggested to enable the embargo of cryptocurrencies. El Economista notes that the ministry already has information on taxpayers’ crypto holdings, adding that individuals and companies starting this year are obligated to declare their crypto held abroad. You might also like: Ex-Spain FA boss Rubiales launches NFTs amid sexual assault ac...

Major NFT collection s see increased demand as sales and trading volume soar across several networks.  As the crypto market rallied after a prolonged crypto winter, the non-fungible tokens (NFT) market also hints at a comeback — the trading volume of several major collections recording significant highs after months of steady decline.  NFT markets are rallying again Here's all the bullish news you need to know In 4 minutes or less pic.twitter.com/GuZM6X2zQu — Bankless (@BanklessHQ) November 12, 2023 According to the data from Coingecko, the floor prices of the top 15 NFT collections have significantly soared over the last few days, demonstrating increasing demand. Most notably, the floor price of the Bored Ape Yacht Club (BAYC) collection has increased over 70% in a month, from $24.8 in the first week of October to $30.90 on Nov. 13. BAYC’s 24-hour trading volume has also risen by 51% today, showcasing increased trading across market places.  TOP NFTs | S...

Funds raised during this event will provide assistance to 4,000 individuals grappling with the burdens of cancer , as well as local residents in dire need of immediate, life-saving support . An NFT artist recently accomplished a remarkable feat by generating nearly $140,000 (equivalent to 114,000 British pounds) through an art exhibition held in the enchanting city of Edinburgh, Scotland, all in the noble pursuit of advancing cancer treatment. This extraordinary sum found its way to Maggie’s Edinburgh, a revered establishment passionately committed to offering free cancer treatment. The generous benefactor behind this monumental contribution was none other than Trevor Jones, a highly regarded crypto artist hailing from the picturesque landscapes of Scotland. Jones orchestrated a mesmerizing charity exhibition and auction, which unfolded amidst the grandeur of the annual Web3 Castle Party, nestled in the vicinity of Paris. According to the Maggie’s Edinburgh Fundraising team, Trevor...

Mihailo Bjelic suggested that adding zero-knowledge proof technology could bolster the network’s security while still keeping fees low. Polygon co-founder Mihailo Bjelic has proposed upgrading the Polygon proof-of-stake (PoS) network to a “zkEVM validium” version, according to a June 20 forum post. If the upgrade is implemented, the new version will rely on zero-knowledge proofs to increase security. HUGE UPDATE ON #Polygon Polygon may go through some huge changes in near future. @MihailoBjelic shared a polygon improvement proposal few hours ago which discussed to upgrade polygon POS to zkEVM Validium. According to the proposal, Polygon POS is facing three key challenges… — Hitesh Malviya (@hmalviya9) June 20, 2023 Polygon PoS is an Ethereum scaling solution that has over $900 million in total value locked within its contracts and does over 2 million transactions per day. It was first launched in 2019. In March, the Polygon team launched a second network, Polygon zkEVM, that uses ze...

As the world moves toward a Web3-focused future, the debate remains: Do these technologies help or hinder our sustainability goals? Bitcoin (BTC) mining is estimated to emit 65.4 megatons of CO2 annually. This is the conclusion reached in 2021 by a group of climate and economic researchers in Europe in the report “Revisiting Bitcoin’s carbon footprint.” This emission is comparable to the carbon footprint of an entire country like Greece, which emitted approximately 56.6 megatons of CO2 in 2019. Estimated global carbon footprint of the Bitcoin network. Source: Cell.com However, it is worth noting that cryptocurrencies and blockchain technology, when used appropriately, can make a positive contribution to the environment. Recently, the World Economic Forum (WEF) highlighted the potential of blockchain technology as a vital tool in the fight against climate change. In a white paper released on April 25, the WEF shed light on the myriad of advantages of integrating blockchains into the cl...

According to public prosecutor, marketing models such as rewards and dynamic rights and interests can easily evolve into illegal pyramid schemes. On May 15, the Supreme People’s Procuratorate of the People’s Republic of China, the national agency responsible for legal prosecution, shared its thoughts on the non-fungible token (NFT) market . In an article published, three authors laid out the prosecutor s’ vision of the market risks and the following reasons to enforce it more actively. The article pays attention to the tendency of “securitization” of NFTs, i.e. the shared ownership of one copy by multiple users, which, in the authors’ opinion, no longer corresponds to criteria of non-reproducibility, indivisibility and uniqueness. Among other threats, the prosecutors see the “inflation of prices” on NFTs, triggered by marketing methods such as airdrops, blind boxes and limited sales. Taking the ambitious breed of esthetic and economic analysis, the authors mention a lack of “artistic...

Trump’s first NFT collection has seen its value plummet by more than 60% following the latest launch which comes ahead of his 2024 presidential bid. Trump drops series 2 NFT collection ahead of presidential run Another round of digital nonfungible tokens (NFTs) trading cards have dropped bearing the likeness of former United States President Donald Trump, with 38,001 minted on Polygon (MATIC). The collection was launched on April 18 at a price of $99 each, it currently has a floor price of 0.0659 ETH ($145) according to data from NFT marketplace OpenSea and has racked up a volume of 592 Ether (ETH), or over $1.2 million. Based on the collections creator fee of 10% the sales have generated over $100,000, while the initial subscription generated an additional $3.76 million of revenue based on a sale price of $99. A screenshot of Trump's April 18 Instagram post. Source: Instagram Posting to Instagram, Trump suggested that he kept the price the same as it was for the first series “bec...

A new class action lawsuit has been filed against CryptoZoo and Logan Paul for allegedly stealing millions worth of cryptocurrency through a “fraudulent venture.” The plaintiff, Don Holland, contended that Paul and executives at CryptoZoo executed a ‘rug pull’. The official filing detailed that the team allegedly promised NFT purchasers a host of benefits, including access to cryptocurrency assets. Other incentives included rewards and access to an online ecosystem to use and market CryptoZoo NFTs. However, the team ended up turning their back on the project and retained funds, the filing noted. We have officially filed a class action lawsuit in the Western District of Texas against Logan Paul et al. for the CryptoZoo fiasco. (This is in addition to the numerous cases heading to arbitration on the matter.) pic.twitter.com/BIC5v63TGZ — AttorneyTom (@attorney_tom) February 2, 2023 Also Read: Here’s How Logan Paul ’s Crypto Dreams C...

The new class action lawsuit aims to help BAYC and APE buyers get compensation from Yuga Labs due to the firm allegedly misleading investors. Troubled cryptocurrency fintech Yuga Labs is about to face more lawsuits in relation to its nonfungible tokens (NFT) collection, Bored Ape Yacht Club (BAYC) and other projects. Rosen Law Firm, a global law firm focused on investor rights’ protection, announced on Jan. 30 that it’s planning to file a class action lawsuit against Yuga Labs.  Rosen invited purchasers of Yuga securities — including BAYC NFTs and the native token ApeCoin (APE) — to join the class action against Yuga by the lead plaintiff deadline set for Feb. 7. The Law firm emphasized that Yuga securities’ investor s that bought BAYC and APE between April 23, 2021, and Dec. 8, 2022, may be entitled to compensation without payment of any additional costs through a contingency fee arrangement. The new case targets a large number of defendants, including Yuga Labs co-founder Wylie Ar...

The sports merchandise giant has got cold feet in the shrinking NFT market. Sports merchandise firm Fanatics is divesting its stake in nonfungible token (NFT) company Candy Digital as confidence in the asset class wanes. On Jan. 4, it was reported that Michael Rubin’s sports company Fanatics was offloading its majority 60% stake in the NFT startup. Fanatics was started in 2011 and has become a known name in sports merchandising and e-commerce, valued at $31 billion.  MLB ICON Leadoff NFT Collectibles, launched by Candy Digital in Apr. 2022 Source: MLB However, the crypto bear market has hit the NFT sector hard in 2022, and Rubin’s firm is seemingly now looking to turn away from “standalone” NFT businesses. The investor group led by Novogratz’s Galaxy Digital will be purchasing the stake in Candy Digital, according to CNBC. In an email shared with the outlet, Rubin wrote: “Over the past year, it has become clear that NFTs are unlikely to be sustainable or profitable as a standalone bu...

NFT gaming is at a similar stage to the early mobile gaming days, says a Magic Eden exec, while an analyst from Dune Analytics claims 58% of NFT trading volume this year has been wash trades. After a sell-out launch that pocketed roughly $4.45 million from primary sales, former United States president Donald Trump’s NFT collection is already on a crash course towards earth. Trump rolled out his odd-ball self-themed 45,000 NFT trading card collection on Dec. 16 for $99 a pop. The NFTs were all gobbled up within a couple hours of launch, and within the next two days the floor price shot up to an all-time-high of around 0.83 Ether (ETH), or $1,006 on OpenSea. Since then however, the floor price has been volatile, while some in the community have highlighted that the NFT artwork may been plagiarized from other sources. According to OpenSea data at the time of writing, the floor price sits at 0.2 ETH ($242), marking a hefty retracement of roughly 75%. Trump NFTs Tanking as Hype Dies, Floor...

Over 40 people and companies are named as defendants in the lawsuit, including Paris Hilton, Snoop Dog, Jimmy Fallon, Justin Bieber, Madonna. Yuga Labs, creators of Bored Ape Yacht Club (BAYC) and crypto fintech Moonpay are facing a class-action lawsuit for allegedly using celebrities to misleadingly promote and sell nonfungible tokens (NFTs).  Over 40 people and companies are named as defendants in the lawsuit , including Paris Hilton, Snoop Dog, Jimmy Fallon, Justin Bieber, Madonna, Serena Williams, Post Malone, and Diplo. The class-action was filed on Dec. 8 by John T. Jasnoch of Scott+Scott Attorneys at Law LLP in the Central District of California and claims the crypto companies used its Hollywood network to promote the digital assets without complying with disclosure requirements. The document states: "This case epitomizes these concerns as it involves a vast scheme between a blockchain start-up company, Yuga Labs, Inc. (“Yuga”), a highly connected Hollywood talent agent (...

The platform said Apple wanted Coinbase Wallet to disable NFT transactions, introducing “new policies to protect their profits at the expense of consumer investment in NFTs." The self-custody crypto Wallet from Coinbase said users can no longer send nonfungible tokens, or NFTs, due to interference from Apple. In a Dec. 1 Twitter thread, Coinbase Wallet said the tech company with a more than $2 trillion market capitalization had blocked the latest release of its app in an effort to “collect 30% of the gas fee” through in-app purchases. The platform claimed Apple wanted Coinbase Wallet to disable NFT transactions, introducing “new policies to protect their profits at the expense of consumer investment in NFTs and developer innovation across the crypto ecosystem.” “For anyone who understands how NFTs and blockchains work, this is clearly not possible,” said Coinbase Wallet. “Apple’s proprietary In-App Purchase system does not support crypto so we couldn’t comply even if we tried. ...

Two collections have appeared on NFT marketplace OpenSea depicting images and art related to the rare widespread protests in China over its lockdown policies. China’s COVID-19 protests cemented as NFTs Nonfungible Tokens (NFTs) depicting the ongoing protests in China against the country’s tough zero-tolerance COVID-19 policy have found their way to the NFT marketplace OpenSea. At least two collections have been created in November, the first is a Polygon (MATIC)-based collection called “Silent Speech” featuring 135 NFTs depicting images of protesters, signage, graffiti and even social media screenshots related to the ongoing protests up for auction starting at 0.01 Ether (ETH), or just under $11.50. A Silent Speech NFT titled “Beihang University” (translated) shows an image of multiple tealight candles within surgical masks. Candles are an often used symbol of remembrance. Another collection titled “Blank Paper Movement” of 36 Ethereum-based NFTs with a floor price of 10 ETH, or nea...

The hype around NFTs (non-fungible tokens) is long gone. By now, most of the industry is well aware of the fall in prices for major NFT projects. NFT trading volume on Solana , one of the most popular networks for NFT minting, fell by half for the month of October. According to Dappradar, NFT sales witnessed new monthly lows in October. According to Dappradar, NFT trading volume on Solana fell from  $134 million in September to $67 million in October. The higher September volume can be attributed to the highly anticipated launch of the yoots NFT mint passes. Nonetheless, Solana was not the only network to record falling NFT volumes. Ethereum (ETH), saw its volume drop from $$687 million in September, to $518 million in October. However, there could be a lag in the Ethereum numbers as Dappradar is yet to track trading data from Blur, a new Paradigm-backed marketplace launched in September. Why are Solana NFT numbers falling? Frankly, it is not just Solana, but the general NF...

NFT (non-fungible token) minting on the XRP Ledger is just around the corner, according to Ripple’s Q3 market report. Now, Ripple developers proposed native NFT support on the network back in Q1 of 2022. The aim was to give developers access to non-fungible token minting, trading, and burning functionalities. However, a bug was discovered that can potentially be used by ill-intended players “to perform a denial-of-service attack on NFT issuers.” Thus, developers withdrew their votes. Instead, a new proposal to remove the mechanism which caused the bug to appear was presented. As per the report, the new proposal has over 80% votes, more than the number needed for its implementation. The community expected the proposal to go live in Q4 of this year, which is upon us already. Additionally, the report shed light on the second wave of recipients of Ripple ’s Creator Fund. The Creator Fund is a $250 million initiative to provide creators with the resources they need to resear...

NFTs are not in their best shape now. The whole hype seems to have worn off, which is evident in the notable drop in NFT sales on several NFT marketplaces, including OpenSea. However, the scrutiny over NFTs doesn’t seem to wear off as Yuga Labs faces an investigation from the SEC. Bored Ape Yacht Club ( BAYC ) creator Yuga Labs faces a probe from the US Securities and Exchange Commission (SEC), according to Bloomberg. The investigation is to enquire whether the Bored Ape Yacht Club NFT collection violated federal law. BREAKING: 🇺🇸 SEC launches investigation into Bored Ape Yacht Club creator Yuga Labs. — Watcher.Guru (@WatcherGuru) October 11, 2022 SEC is examining whether BAYC NFTs are securities As per the details from the person familiar with the matter, the SEC is looking into the possibility of whether a few of the NFTs sold by Yuga Labs are similar to securities and whether they should follow similar rules. The SEC is also looking...