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Ever since the Terra Luna crash, the debate for further regulation has intensified. At Davos, crypto was once of the most discussed topics. We are at that point where regulation is imminent. While this might reduce your chances of making 100x gains overnight, it will make crypto markets easily accessible to all. The increase in liquidity will ultimately benefit us all. In today’s newsletter we tell you about what’s latest in the world of crypto regulation, new NFT platforms and bitcoin mining!
Crypto Platform CoinTracker Enters Indian Market
CoinTracker, a crypto tax compliance and portfolio tracking startup, has entered the Indian market with an official product launch in the country. The crypto tax compliance and portfolio tracking products offered by CoinTracker are now available for crypto users in India. CoinTracker wants to collaborate with partners and the community to boost crypto adoption and usages in India. Besides engaging with Indian crypto users, it also aims to hire talents to grow its local team in the country.
The crypto exchange platform has built tools for cryptocurrency users to build wealth, file taxes, and optimise their portfolio year round. Essentially, it helps crypto investors sync all of their activities across exchanges and wallets into one place and calculate capital gains and losses. In the coming months, the crypto startup plans to rapidly expand its integrations and partnerships with all the popular exchanges and tax products used in India. Globally, it has partnered with big names such as NFT marketplace OpenSea and crypto wallet Phantom.
https://economictimes.indiatimes.com/markets/cryptocurrency/cointracker-forays-into-indian-market/articleshow/91787722.cms
World Economic Forum Asks Crypto Companies to get their house in order during the conference in Davos
Cryptocurrency firms, many of which lined the main street in Davos this week, were told they will need to clean up their act before gaining complete acceptance from the World Economic Forum’s old guard. “The future of crypto, I’m sorry to say, looks regulated to me,” said Nela Richardson, senior vice president and chief economist for human resources software provider ADP. She said she thinks central banks will step in to provide oversight.
Blockchain and crypto firms blitzed Davos with parties, briefings and panels on the sidelines of the main conference, with the hope of gaining credibility and inking deals with companies ranging from Tyson Foods Inc to Salesforce.com Inc also perched on the main street. Some of the events outside the security cordon of the main event featured speakers from traditional financial institutions, including Perella Weinberg Partners and State Street.
https://economictimes.indiatimes.com/tech/technology/get-your-crypto-house-in-order-old-guard-tells-davos-debutantes/articleshow/91817718.cms
India has the third most NFT companies headquartered in the world
India is home to the third-largest number of NFT companies in the world, a report by community platform NFT Club said. NFT Club claims to be a community platform offering resources to help new users understand about the industry. According to the report, titled ‘A World of NFT Adoption’, 11 NFT companies are headquartered in the country, just behind the US and Singapore. Indian NFT marketplaces formed 5.02% of the total NFT companies in the world led by players such as WazirX, Jupiter, among others.
“India is known for having a strong IT and communications sector so it should come as no surprise that a country this big is one of the top places for NFT companies,” noted the report. According to the report, the US is home to 91 NFT companies, while Singapore plays host to 24 NFT players.
https://inc42.com/buzz/india-home-to-third-largest-number-of-nft-companies-in-the-world-report/