Wednesday, February 28, 2024
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Tether’s ‘new era for capital raises’ Bitfinex bond flops

Bitfinex’s recently launched Tether (USDT) tokenized bond, hailed as a “new era for capital raises,” appears to have failed to garner the investment and interest the firm anticipated.Bitfinex Securities, a platform focused on listing tokenized real-world assets (RWA), announced its first tokenized bond in October, called ALT2611 Tokenized Bond, with

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Capital Gains Tax Applies to Wrapped Tokens and DeFi, Australian Tax Authority Clarifies

“Being able to wrap tokens is a valuable and necessary cross-chain interoperability tool,” said Michael Bacina, Digital Assets lawyer at Piper Alderman Lawyers. “To have a purely technological function triggering a tax event and tax payable is not something users would expect when using crypto-assets.” Source

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Australia to impose capital gains tax on wrapped cryptocurrency tokens

The Australian Taxation Office (ATO) has issued guidance on capital gains tax (CGT) treatment of decentralized finance (DeFi) and wrapping crypto tokens for individuals, clarifying its intent to continue taxing Australians on capital gains when wrapping and unwrapping tokens.In May 2022, the ATO outlined crypto capital gains as one of

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