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Payment services giant, PayPal, and remittance service provider, Western Union, have filed trademark application s for crypto -related services. The news was shared on Twitter by USPTO-licensed trademark attorney, Mike Kondoudis. As per the document, PayPal has filed trademark applications for “PAYPAL” and its overlapping Ps logo. The trademark document claimed that the firm plans to exchange, trade, and process transfers of blockchain and digital assets, including crypto. The application was submitted to the United States Patent and Trademark Office on October 18th. The serial numbers for the applications are 97636933, 97636892, and 97636857. #PayPal has filed trademark applications for PAYPAL and its “overlapping Ps” logo The apps claim plans for exchanging, trading, and processing transfers of ✅ Blockchain + digital assets ✅ Crypto + digital + virtual currencies …and more#NFTs #Metaverse #Web3 #Cryptocurrency pic.twitter.com/FadV1SiCfV ...

The Internal Revenue Service (IRS) has updated the crypto section in the 2022 draft instructions for tax form 1040. “For example, digital assets include non-fungible tokens (NFTs) and virtual currencies, such as cryptocurrencies and stablecoins,” the tax agency detailed. New IRS Instructions for Tax Form 1040 The Internal Revenue Service (IRS) released its 2022 draft instructions for tax form 1040 last week. Form 1040 is the tax form used for filing individual income tax returns in the U.S. The new instructions contain several changes relating to cryptocurrency. The section titled “Virtual Currency” has been replaced with one titled “Digital Assets.” The IRS detailed: Digital assets are any digital representations of value that are recorded on a cryptographically secured distributed ledger or any similar technology. For example, digital assets include non-fungible tokens (NFTs) and virtual currencies, such as cryptocurrencies and stablecoins. I...

Digital asset platform Nuri has told customers to withdraw their funds in the next two months, after taking a hit from the crypto winter . Formerly known as Bitwala, the Berlin-headquartered cryptocurrency bank filed for insolvency earlier this year and failed to find a buyer. Nuri to Maintain Trading Until Last Day of November, Prepares to Close Down Crypto bank and exchange Nuri has instructed users to withdraw their funds by Dec. 18, 2022 at the latest. The Germany-based company will then terminate and liquidate its digital asset business, according to a letter from its CEO Kristina Walcker-Mayer, who assured: Customers have access and will be able to withdraw all funds until the aforementioned date. All assets in your Nuri account are safe and unaffected by Nuri’s insolvency. The chief executive pointed out that the platform will continue to support trading until Nov. 30, 2022. The announcement comes after Nuri filed for temporary insolvency in August. Reports at the time noted...

Source: CoinShares Inflows into digital asset investment products reached $12m last week, marking a strong improvement from the net outflows recorded the week before. Total assets under management (AuM) in crypto investment funds has now reached $25bn. The $12m of inflows into investment products backed by digital assets was made up largely by inflows into regular bitcoin (BTC) funds, as well as short-bitcoin funds that rise in value as bitcoin&rsquo ;s price falls, new data from the crypto research and investment firm CoinShares showed. For bitcoin-backed funds, the inflows for the week reached $8.8m, while short-bitcoin funds saw $6.7m of inflows. Coming in as the third most popular digital asset fund category were to so-called multi-asset funds, which are backed by two or more digital assets. This category saw inflows of $0.4m. Worth noting is that the numbers mark the fifth consecutive week of inflows into bitcoin -backed funds , although some of the effe...

Source: AdobeStock / Iryna Budanova Binance Pool, the crypto mining services arm of cryptocurrency exchange Binance, aims to support Bitcoin miners to weather the crypto winter with a $500 million loan.  The ongoing bear market has had deep impacts on almost all industry participants, particularly miners. Amid rising fuel and electricity prices and the crypto market downturn, this cohort has been hit the most, with many miners proceeding to shut down their machines as profitability becomes negligible.  In a bid to help miners and in turn, help the broader crypto market from further damage, Binance Pool, one of the world’s largest crypto mining pools, has decided to offer a $500 million loan to support Bitcoin miners, the company said in a Friday blog post.   "Binance Pool has a responsibility to help maintain a healthy digital asset ecosystem," the post read. "In light of current market conditions, Binance Pool is launching a $500mill...

Prominent crypto exchange, Binance has been zooming through the bear market with an array of its initiatives. Now, once again, the exchange decided to extend support to the Bitcoin [BTC] mining industry. In a recent blog post, Binance Pool revealed that it formulated a $500 million lending project for Bitcoin miners. This included both private and public miners. Through this initiative, the exchange intends to provide loans to these miners. However, the miners will be required to present security to attain the loan, which will last between 18 and 24 months, in the form of tangible or digital assets. In addition to this, these loans will entail interest rates ranging from 5 to 10 percent. This wasn’t the only thing that was part of Binance Pool’s latest initiative. The blog post noted that the exchange intends to roll out cloud mining products. Elaborating on the same Binance wrote, “As the cloud mining hash power will be directly purchased from bitcoin mi...

Binance has been in the news recently for furthering their spree of acquiring licenses to operate in more jurisdictions, as the CEO Changpeng Zhao presses on with his mission to bring hundreds of millions of people into crypto within the next few years.  Current forecasts estimate that by 2024 or 2025, there will be over one billion people worldwide who own at least some cryptocurrency, and as the leading cryptocurrency exchange and digital asset services provider, Binance is one of the companies that is best positioned to capitalise on this explosive growth.  Binance receives license to operate in Kazakhstan  According to a recent press release, Binance has obtained a license to provide custody services for digital assets in Kazakhstan.  Binance received the license from the AIFC Federal Services Regulatory Committee and will henceforth be able to offer the aforementioned services from the Astana International Financial Centre.  Binance is ...

Join Our Telegram channel to stay up to date on breaking news coverage Whether it is rising or falling, bitcoin attracts a lot of attention: In 2021, 94% of financial advisors answered client inquiries about cryptocurrencies, according to a Bitwise and ETF Trends poll . According to the same survey, 47% of advisors had cryptocurrency assets in their personal portfolios. However, only 16% of advisors have cryptocurrency allocated in client accounts. Even while investors are interested in holding cryptocurrency, advisors may seem reluctant to suggest the category of digital assets. Whether your adviser will assist you with your cryptocurrency investments will rely on how they feel about the future of cryptocurrencies, the resources they have at their disposal, as well as your risk tolerance and financial objectives. In this article we explain why your advisor might be hesitant to suggest cryptocurrency, what questions to ask your advisor about cryptocurrency, and what to do if y...