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Do Kwon Reportedly Lawyers Up, Colombia May Fight Tax Evasion with Digital Currency, Unstoppable Domains Lunches App + More News

Sead Fadilpašić
Last updated: | 2 min read
Source: AdobeStock / Barna Tanko

 

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. 
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Legal news

  • Co-founder of the distraught crypto project Terraform Labs, Do Kwon, has reportedly hired a South Korean law firm, in anticipation of potential charges against him. As per Naver News, no charges have yet been filed against Kwon, but he still submitted a letter of appointment to an attorney in the Seoul Southern District Prosecutor’s Office, which is currently looking into the Terra-LUNA fiasco.
  • During Celsius (CEL)’s second day hearing, which took place this Tuesday, judge Martin Glenn, chief judge of the US Bankruptcy Court for the Southern District of New York, approved the bankrupt crypto lender’s plan to sell mined bitcoin (BTC) to cover operational expenses.

Tax news

  • The Colombian government is looking at creating a digital currency, local media are reporting. As per a Semana report, the country’s Head of the Colombian Tax and Customs National Authority, Luis Carlos Reyes, argues that the new president will seek to introduce a digital currency to tackle tax evasion that, at the moment, equals around 8% of the country’s GDP.

NFT news

  • Non-fungible token (NFT) domains service provider, Unstoppable Domains, announced the launch of a mobile app, as a simple way for users to manage their NFT domains and Web3 digital identity, said a press release shared with Cryptonews.com. Through the app, the company says, users will be able to buy, mint, and manage NFT domains, build profile cards, and log into more than 180 integrated apps, metaverses, and games.
  • The emoji brand and Web3 platform RECUR announced a partnership today, the result of which should be a large NFT collection of the world’s most popular emojis. From September 22 onward, customers will be able to choose among 2,222 PFPs.

Exchange news

  • Crypto.com announced today it has received regulatory approval from the UK Financial Conduct Authority (FCA) as a cryptoasset business. This registration will enable the crypto exchange to offer a suite of products and services to customers in the UK, compliant with local regulations.
  • BitGet announced today that its partnership with Juventus football club will continue into the 2022-2023 season. The company will remain its Official Sleeve Partner, benefitting from the considerable visibility that comes with Juventus’ large global audience.

Payments news

  • B2B crypto payments startup Request Finance introduced a new feature called Salaries, to help Web3 teams automate their crypto payroll. Per the announcement, to date, the app has already processed over USD 220m in invoices, salaries, bonuses, and rewards in crypto, for more than 2,000 enterprises.
  • Payments platform Paysafe announced that it is registered as a Virtual Asset Services Provider (VASP) with Italy’s Organismo Agenti e Mediatori (Agents and Brokers Body). The registration is mandatory in the country, for all companies offering crypto trading, custody, or other similar services.

Investment news

  • Institutional-grade digital asset custodians GK8 are now integrated with Polygon (MATIC), the company confirmed via a press release earlier this week. The news means GK8 customers should get more flexibility necessary to manage a diverse portfolio, without additional research and development, or integrations, they added.

Economics news

  • The inflation rate in the UK hit 10.1% in the 12 months to July, up from 9.4% in June, the country’s Office for National Statistics (ONS) said, per BBC. Soaring food costs have pushed inflation into double digits for the first time since 1981, with prices continuing to rise at their fastest rate for more than 40 years, it said.