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“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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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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Mastercard has completed a trial involving wrapping central bank digital currencies (CBDCs) on different blockchains, similar to wrapped Bitcoin (wBTC) and wrapped Ether (wETH).According to the Oct. 12 announcement, the trial was conducted with the Reserve Bank of Australia (RBA) and the country’s Digital Finance Cooperative Research Centre CBDC, along
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21co, the parent company of 21Shares, has expanded its product offerings by launching eight wrapped tokens. 21co, the parent organization of 21Shares, a provider of crypto exchange-traded products (ETPs), has made its foray into the world of wrapped tokens. With the launch of eight different wrapped tokens, including those for Bitcoin
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The anetaBTC project aims to attract bitcoin liquidity to the Cardano ecosystem. Source
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Cryptocurrency regulation tests aiming to help shape crypto laws in Zambia that simulate the real-world use of crypto are on track to finish by June.In an April 12 Reuters interview, Zambia’s innovation, science and technology minister, Felix Mutati, said the purpose of conducting the tests was to help the government
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All social media presence was deleted and Kokomo tokens fell 95%. Source
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Crypto lender Celsius Network, which is currently operating under bankruptcy protection, has established a crypto wallet with $25 million of digital assets for Celsius’ custodial account holders to withdraw, blockchain intelligence firm Arkham Intelligence said in a report. Source
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The supply of wrapped Bitcoin (wBTC) dropped to its lowest since May 2021 after the second-largest single-day burn on Feb. 27. A total of 11,500 WBTC worth about $260 million linked to now-bankrupt crypto lender Celsius was burned, turning its growth rate to negative. The current total supply of the wrapped
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Lido and Optimism aim to increase the availability of wrapped staked ether (wstETH) with OP tokens through the new liquidity mining and user incentives program. Original Source
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