Weekly Crypto News for 7/26/21 to 8/1/21 — Curated by BearTax

1/ Binance Launched A Tax Reporting Tool

It is an API tool that allows Binance users to:
- Track crypto transactions
- Transfer transaction history to third-party crypto tax software
- Obtain instant overviews of their local tax liabilities

2/ Cocacola Now launched its first NFT Collection (Coco-Cola Friendship Box) on the eve of Friendship Day 2021!

The NFT collection contains:
a) Branded bubble jacket that can be worn in the Decentraland metaverse. A ‘Rooftop Party’ was hosted on the platform to celebrate the launch
b) A Sound visualizer (such as the sound of a bottle opening or a beverage being poured over ice)
c) Friendship card inspired by the collectible trading cards launched by Coca-Cola in the 1940s

3/ New Infrastructure Bill Looks to Raise $30Billion Through Crypto Taxes

The bill is still under-going changes. We are maintaining a thread on twitter to capture live updates & progress. Bookmark it to stay updated.

4/ Shopify will start allowing merchants to sell #NFTs directly on their platform!

Before Shopify offered this capability, merchants would have to sell through a 3rd party marketplace, which meant lesser control of the sale and customer relationship. The new offer will change everything from Shopify Merchants. However, the option will be available to only a few.

5/ PayPal to Launch Crypto Trading Services in UK:

Trading of crypto assets such as Bitcoin (BTC), Ethereum (ETH), and LiteCoin (LTC) is planned to arrive for PayPal UK users by the end of August!
However, users won’t be able to transfer their crypto assets to a private wallet.