German Inflation Rate Rises, Kazakhstan Mulls Higher tax for Bitcoin Miners, Binance, Italy + More News

According to DeStatis (the country's Federal Statistical Office), the annual inflation rate in Germany will be +7.9% by May 2022.

German Inflation Rate Rises, Kazakhstan Mulls Higher tax for Bitcoin Miners, Binance, Italy + More News

Economic news

According to DeStatis (the country's Federal Statistical Office), the annual inflation rate in Germany will be +7.9% by May 2022. The inflation rate in April 2022 was 7.4%. They increased prices by 0.9% per month.

Mining news

According to the government of Kazakhstan, it plans to increase tax rates on Bitcoin (BTC), and crypto miners as long as it receives parliamentary approval. The finance ministry of the country stated in an official statement that MPs are currently considering a bill to increase the tax rate for miners. According to the ministry, miners paid more than USD 15 million in taxes in the first quarter. This was mainly due to miners who are based in Nur-Sultan (formerly Astana).

Adoption news

Binance, a crypto exchange, announced that Binance Italy has been granted regulatory approval by the Organismo Agenti e Mediatori. This is the Italian body for agents and brokers dedicated to service providers of virtual currency and digital wallet services.

Anubi Digital, digital asset custodian, announced that it has been added to the OAM list of virtual currency operators. Anubi Digital will report to OAM quarterly data about transactions on the Italian territory, according to the registry regulations.

News about investments

Asian bank Siam Commercial Bank said that its venture investment arm SCB 10X had deposited part of its uninvested funds in decentralized finance (DeFi), protocol Compound (COMP),'s USD coin(USDC) yield-generating product designed for institutions.

Galaxy Racer, an esports organization, partnered with Quint's metaverse project and invested USD 25m in its native QUINT token. They also announced that the partnership will see the crypto company becoming the "Native Ecosystem Token Partners" for esports organizations.

CBDC news

The Reserve Bank of India (RBI), India's central bank proposed a three-step, graded approach to rolling out a central bank digital money (CBDC) with "little or no disruption" in the traditional financial system. The proof-of-concept, pilots and launch would be the stages. However, the RBI stated that it is currently evaluating the feasibility and functionality to launch a CBDC.

M&A news

Global Blockchain Business Council (GBBC), a global industry association that promotes blockchain technology, announced a merger of the Global Digital Finance (GDF), a market standards organization for adoption of digital assets and crypto. They added that the combined association will include nearly 500 institutional members as well as 178 ambassadors operating in 95 jurisdictions and discipline.

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