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Over the last few weeks, rumors have been gaining traction on the internet that GameStop is partnering up with Loopring to launch an NFT marketplace.
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“Altcoin” refers to any blockchain-based cryptocurrency that isn’t Bitcoin. The term “altcoin” was coined as a shorthand for “alternative to Bitcoin,” and the vast majority of altcoins were created to improve Bitcoin somehow. Namecoin, Peercoin, Litecoin (LTC), Ethereum and USD Coin (USDC) are examples of altcoins.
Like traditional currencies, cryptocurrencies express value in units — for instance, you can say “I have 2.5 Bitcoin,” just as you’d say, “I have $2.50.”
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Additionally, there are no standards to protect your business because authorities like the Financial Conduct Authority (FCA) do not regulate the cryptocurrency market. It could lose value and become useless if firms or consumers switch to a different cryptocurrency or stop utilizing digital currencies altogether.
Income tax: Profits and losses from cryptocurrency transactions must be shown in a non-incorporated business’s accounts and are taxable/allowable under conventional income tax laws.
Something is brewing over at SafeMoon. The DeFi project is close to launching a widely anticipated V2. The team is targeting greater adoption and additional use cases with the launch of V2.
Tokens have been created to use smart contracts or tokens as a form of currency. They do not have a blockchain and are used on decentralized applications (dApps).
Some mainstream companies also view blockchain technology itself with interest, evaluating various uses such as supply chain. The future of cryptocurrency and its associated technology appears bright, judging by the growth and adoption that has been seen since 2008 when Nakamoto published the framework for a little asset called Bitcoin.
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Before coming to POLITICO, Caitlin worked on the social desk for ABC News’ D.C. Bureau, where she used social media to monitor coverage areas, curated images and videos for broadcasts, pitched and reported out stories and collaborated on breaking news.
Cryptocurrencies are seen as an alternative to traditional banking methods, cheaper to move money around due to not being regulated by the government or its banks.
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Tokens have been created to use smart contracts or tokens as a form of currency. They do not have a blockchain and are used on decentralized applications (dApps).
A news story claiming Walmart would accept cryptocurrency Litecoin was fabricated, the retail giant says.