Bill to Exempt Foreigners from Crypto Taxes in Israel Passes Preliminary Reading
On June 5, the Knesset (parliament) passed the preliminary reading of a bill that would exempt foreigners from capital gains taxes on the sale of digital currencies and digital assets. The measure would also increase the parity between crypto bonuses and stock options for employees by reducing the tax on the former from 50% to […]
China to Tighten AI Chip-making Materials Exportation
The Chinese government has declared plans to regulate the export of metals (gallium and germanium) primarily used in producing semiconductors for artificial intelligence (AI) system development. The Chinese Ministry of Commerce and the General Administration of Customs issued a joint statement on July 3 stating that the controls are intended to safeguard national security and […]
Law Firm bills Voyager Digital Creditors $5.1M Legal Claim
McDermott Will & Emery, a law firm based in New York, has filed a $5,1 million claim against the creditors of defunct crypto brokerage firm Voyager Digital. The claim covers legal services between March 1 and May 13, 2023. In a court filing dated July 3, the law firm billed the “Official Committee of Unsecured […]
Jinan City Embraces CBDC Payments
Jinan, the capital of Shandong Province in eastern China, has begun promoting the adoption of the country’s central bank digital currency (CBDC) by implementing digital yuan payments on all of its bus routes. The city implemented CBDC payments on two bus lines during the demonstration phase. Following the trial period, the city announced that the […]
Hut 8 Relocates 6,400 Rigs as Demand for AI Computing Rises
Hut 8 Mining seeks to reactivate 6,400 machines relocated from its inactive North Bay, Ontario, site as it is experiencing an increased demand for artificial intelligence (AI) and high-performance computing. As previously reported, Hut 8 and its third-party energy supplier Validus Power are engaged in an ongoing legal dispute over alleged failure to satisfy contractual […]