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This Week in the News - November 21st

Updated: Nov 24, 2022

  1. Kenya Proposes Bill to Tax Crypto – Roughly 8.5% of the African country's population owns cryptocurrencies, according to a United Nations report. (source) The Capital Markets (Amendment) Bill, 2022 would allow for the taxation of crypto exchanges, digital wallets and transactions. Crypto investors in Kenya would have to pay capital gains tax to the Kenya Revenue Authority when they sell or use their crypto in a transaction.

  2. Bitcoin Regains $16K, But Analysts Are Still Bearish– The cryptocurrency has rebounded after it hit a two-year low in the past 24 hours, although one analyst said $12,500 is possible by year end. (source)

  3. Lawmakers Urge Fidelity to Drop Bitcoin Retirement Plan After FTX Crash– Three senators reiterate warnings to the investment giant, citing problems like “charismatic wunderkinds.” (source)

  4. Saudi Arabia’s NFT Collection Soars After Unexpected Soccer Win Against Argentina – Argentina's fan token, on the other hand, slid 21% following the team's loss on Monday. (source)

  5. FTX Bankruptcy Hearing: Bahamas Liquidators Transfer Case to Delaware, Creditor Names Remain Redacted– James Bromley, counsel to FTX’s new management, called the bankruptcy "one of the most abrupt and difficult collapses in the history of corporate America." (source)

  6. Thanks, Binance: Crypto Liquidity Shows Signs of Recovery–Over the past week, market depth has experienced a slight recovery, with the total quantity of bitcoin within 2% of the mid price. (source)

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