What Happened in the Crypto Industry & NOBI Over The Last Week?

Hi NOBI’s! This last week of September, the crypto industry was surprised by exciting news and fantastic achievements. One of these, came from Indonesia, where the crypto tax was recorded to have contributed Rp126.75 billion to the government. In addition, there is also a continuation of the story of Terra’s Do Kwon, who is reportedly hiding from Interpol! Then, what else? Let’s take a look at what’s new and interesting we have for you!

1. Within 3 Months, Crypto Tax Contributes Rp126.75 Billion in State Finance

The Indonesian Minister of Finance Sri Mulyani reported that the government had pocketed crypto tax receipts of Rp. 126.75 billion until August 2022. According to the policy, the tax on crypto asset commodities took effect on May 1, 2022. This levy consists of Income Tax (PPh) on crypto asset transactions to Value Added Tax (PPN).

In addition to crypto taxes, fintech companies will also be taxed starting May 1, 2022, which will begin to be paid and reported in June 2022. On the other hand, the Minister of Finance revealed that the PPN rate adjustment succeeded in increasing state revenue by Rp7.28 trillion during April to August 2022.

2. South Korean Authorities Look to Freeze More Than $60M Bitcoin Tied to Terra’s Do Kwon

South Korean authorities asked two crypto trading platforms to freeze more than $60 million worth of Bitcoin linked to Do Kwon. Reported from CNBC, Thursday (29/09/22).

Currently, the South Korean authorities are in the process of searching for the Terra boss, and claiming he has escaped. However, Kwon refuted the accusations and admitted that he did not run away. On Tuesday, he took to Twitter to say he was not trying to hide. On the other hand, the prosecutor also said that Interpol had issued a red notice for Kwon. Such notices are issued to wanted criminals, either for prosecution or serving a sentence.

3. Leveraging Its Unique Sharding Technology, Harmony Focuses on Ecosystem Growth

Recently, on September 23rd, in a tweet, Harmony stated that for now, his team will focus on preserving the Harmony blockchain foundation “with 0% mint.” They are also committed to listening to the voices of the validators and the community themselves.

Then, by taking advantage of the unique scaling technology of its uniform sharding, the team is also optimistic about realizing Harmony’s long-term vision. Where the main vision includes increasing network adoption and the growth of a more sustainable ecosystem.

4. Walmart Dives Into Metaverse to Attract Gen Z, with Walmart Land & Universe Of Play on Roblox

Walmart, the US multinational giant that operates the hypermart network recently announced the leak of its virtual store in the metaverse. This is the result of a partnership between Walmart and the metaverse game platform Roblox.

In the Roblox metaverse, the US retail giant presents Walmart Land which is a virtual store featuring a variety of items including fashion, entertainment and beauty. Walmart Land brings the appearance of the physical store and the official Walmart website page.

Not only that, Walmart also presents Walmart’s Universe of Play, which is a virtual space that presents a virtual gaming paradise. In addition, Walmart Land and Walmart’s Universe of Play also offer entertainment and interactive content to the 52 million daily users of the Roblox community.

5. Pound Sterling Tanking, Crypto Assets in the UK Are Skyrocketing!

Currently, the rate of adoption of crypto assets in various countries as alternative investment assets is still increasing. One of them is the UK, which now has a third of its citizens own crypto assets. Quoting from Beincrypto on Tuesday (27/09/22), more than a third of the UK population, with 41% of men and 27% of women having invested in crypto assets.

Apart from global growth in the crypto industry itself, it turns out that this increase was due to the economic crisis that occurred in the UK. Where the crisis caused a decline in the value of the British currency (pound), and soaring gas prices. However, the government currently held by Prime Minister Liz Truss seems to give positive sentiment to the crypto business. Apparently, the British government wants to make its country more open to crypto technology.

That wraps up for Crypto This Week. We’ll see you at the next one!

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