POKKET Official
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POKKET Official

POKKET Weekly News: This Week In Crypto (25–31 May)

Altcoin season has begun. While Bitcoin volatility declined further this week, Ethereum and altcoin volatility crawled higher. As a result, our interest rates on altcoins and ETH were higher while BTC stayed back.

In other news, Wall Street giant Goldman Sachs made a lot of enemies this week when it compared Bitcoin to the Tulip mania during an investor call and blasted Bitcoin and other coins as unsuitable investments for its clients.

A little update from our side: we’ve recently deposited the $100 TUSD prize money to our customer who gave the best feedback on our customer survey conducted a while ago. As a result of these customer surveys, we’re planning many new exciting updates on our platform. Starting from Monday 1 June, we’re adding 13 new tokens on our platform. Stay tuned!

While you’re at it, check out our interest rates including our top 10 earning tokens below.

Here are this week’s highlights

China Passes Law Protecting Cryptocurrency Inheritance

China has passed the country’s long-awaited civil code which expands the scope of inheritance rights to include cryptocurrency, such as bitcoin. Inherited cryptocurrencies will be protected under the new law. Meanwhile, several Chinese courts have recently ruled that bitcoin and ethereum are properties protected by law…

Financial Giants Fujitsu & Nomura to Launch Digital Asset Trading on Blockchain

Per a report from Nikkei, Fujitsu is working on the project with Nomura’s Boostry blockchain affiliate, and the parties have already completed a number of tests on their new platform, which they say will be ready to roll out in the second half of the current financial year…

RBI Confirms No Ban on Cryptocurrency Exchanges, Businesses or Traders in India

India’s central bank, the Reserve Bank of India (RBI), has confirmed that there is no longer any banking ban on crypto exchanges, companies, or traders. This follows the supreme court decision to quash the RBI circular prohibiting banks from providing services to any customers dealing in cryptocurrencies. The ban lasted for almost two years…

Facebook Replaces Calibra with Novi, Confirms Mandatory KYC

Social media giant Facebook rebranded its Calibra subsidiary, responsible for the Libra project, saying that the first product Novi Financial will introduce is the Novi digital wallet designed for Libra digital currencies…

South Korean Crypto Tax ‘Coming Next Year for Traders, Miners & ICOs’

Per reports from E Daily and Decenter, the Ministry of Economy and Finance is preparing to make an amendment to the existing Income Tax Act that will include clauses about taxing profitable cryptocurrency sales, as well as the profits of crypto mining projects. The ministry also spoke about taxing the proceeds of initial coin offerings (ICOs) — perhaps a slightly puzzling statement for some, as ICOs remained banned in the country…

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