Whilst the price of Bitcoin at the time of purchase was not disclosed, Townsquare said it recorded an impairment loss of $400,000 resulting from “changes to the fair value” of its digital asset holdings over the quarter.
The New York State government is considering the introduction of a bill that could place a two-year ban on all new PoW mining facilities in the state that use carbon-based fuel to power their operation.
Reports on the imposition of GST on cryptocurrencies have been doing the rounds ever since the government announced a flat 30% tax on income from cryptos and other virtual digital assets.
UK’s Economic and Finance Ministry had in April declared that it intended to “take the necessary legislative steps” to bring stablecoins into its regulatory framework as part of a “package of measures” aimed at incorporating crypto assets and blockchain technology.
