With the growing interest in non-fungible tokens (NFTs), it becomes important for investors to understand all the tax implications linked to these digital assets. One method that can help crypto investors to minimize their tax liabilities is NFT tax-loss harvesting. Here, we will dive into the concept of tax-loss harvesting, its application in the NFTs… Continue reading NFT Tax-Loss Harvesting: A Strategy To Maximize Your Profits
Tag: NFT regulation
China’s Trademark Office Authorized NFT And Virtual Asset Marks
The Chinese Trademark Office approved multiple marks related to non-fungible tokens (NFTs) and metaverse services and goods. The move highlights their recognition of the growing importance of various virtual assets. Recent Trademark Approvals The Chinese Trademark Office’s recent approvals cover many digital assets and functionalities. Interestingly, they acknowledged digital files that are validated by NFTs.… Continue reading China’s Trademark Office Authorized NFT And Virtual Asset Marks
Major Marketplaces Enforce Trading Limits on Stoner Cats NFTs
The Stoner Cats NFT initiative, co-founded by the esteemed actress Mila Kunis, has faced trading restrictions on several major NFT platforms such as OpenSea, Blur, and Rarible. This development comes in the wake of legal action by the United States Securities and Exchange Commission (SEC), which has levied charges against the project’s creators, alleging the… Continue reading Major Marketplaces Enforce Trading Limits on Stoner Cats NFTs
FBI Warns About Criminals Impersonating NFT Developers
The latest reports indicate that the FBI has issued a warning about criminals who are impersonating legitimate NFT developers aiming to defraud users within the nonfungible token (NFT) community. These nefarious individuals either compromise the legitimate social media profiles of genuine NFT developers or fabricate accounts that closely mimic them. Subsequently, they endorse counterfeit NFT launches,… Continue reading FBI Warns About Criminals Impersonating NFT Developers
Space Runners And Smiley Partner To Offer A Revolutionary NFT Transformation
Smiley, a top urban lifestyle brand, has partnered with fashion tech innovator Space Runners to unveil their collaboration “Smiley Worlds” to fight NFT counterfeits. This now marks an incredible partnership that strives to reshape the Web3 space. Smiley Worlds which is a digital equivalent to social media’s blue checkmarks has come on board to make… Continue reading Space Runners And Smiley Partner To Offer A Revolutionary NFT Transformation
Binance Increases Support To Bitcoin NFTs On Its Marketplace
Binance is one of the biggest crypto exchanges in the world. The exchange confirmed its support for Bitcoin NFTs. The decision has come at a time of massive turmoil in the crypto sector, proving Binance’s commitment to adopting the budding NFT industry. Binance Joins The Bitcoin NFTs Market The launch of Bitcoin NFTs on Binance’s… Continue reading Binance Increases Support To Bitcoin NFTs On Its Marketplace
China Sets Strict Rules For The NFT Market
Nonfungible tokens have been on the recovery road since the start of 2023 after a severe bearish market. As a result, NFTs have caught the attention of Chinese authorities. China’s national agency that is responsible for legal prosecution, the Supreme People’s Procuratorate, recently published a document aimed at establishing a legal infrastructure for nonfungible tokens.… Continue reading China Sets Strict Rules For The NFT Market
NFTs Break Legal Ground Meant To Serve Anonymous Hackers
Nonfungible tokens (NFTs) made legal history in the past week. For the first time in a federal court, it was determined that sending an NFT can be considered serving legal notice. Judge Beth Bloom of the US District Court for the Southern District of Florida made this ruling. Why did the judge decide to use… Continue reading NFTs Break Legal Ground Meant To Serve Anonymous Hackers
BAYC Developer Yuga Labs And Moonpay Face Lawsuit Due To Celebrity NFT Promotions
The class action lawsuit claims that Yuga Labs leveraged a massive network of A-list athlete, celebrity, and musician clients to push the sales of their nonfungible token (NFT) collection. Yuga Labs, the developer of the popular Bored Ape Yacht Club (BAYC) NFTs, together with crypto fintech Moonpay is now facing class action lawsuits over the… Continue reading BAYC Developer Yuga Labs And Moonpay Face Lawsuit Due To Celebrity NFT Promotions
Bank Of Korea (BoK) Scales CBDC Test Programs To Global Remittances And NFTs
The Bank of Korea discovered that its central bank digital currency (CBDC) could process up to 2000 transactions per second, which is considerably below what the standard centralized ledger database provides. The central bank of the Republic of Korea together with the issuer of the Korean Republic won, the Bank of Korea (BOK), is allegedly… Continue reading Bank Of Korea (BoK) Scales CBDC Test Programs To Global Remittances And NFTs