Bitcoin trades higher, India passes stiff digital asset laws — Crypto Moves

Bitcoin, the leading international cryptocurrency, was trading higher on Saturday, rising 0.58 percent to $44,662.37 as of 8:30 a.m. Riyadh time.

Ether, the second most traded cryptocurrency, was priced at $3,144.65, up 1.15 percent, according to data from Coindesk.

India Passes Strict Crypto Laws

Meanwhile, India passed the Finance Bill 2022 on Friday, which introduced a new tax on digital assets, including cryptocurrencies.

The new law will impose a 30 percent capital gains tax on cryptocurrency transactions, placing digital assets in the same tax bracket as traditional stocks.

Ukraine Launches ‘War Museum’ NFT in Crypto Crowdfunding Push

Ukraine began auctioning off a collection of non-fungible tokens, or NFTs, on Friday in an expansion of a cryptocurrency fundraising push that kyiv says has already raised more than $65 million for its war effort.

The ‘Meta History: Museum of War’ collection is a series of digital images, including silhouettes of fighter jets, screenshots of news reports, and a cartoon-style image of an explosion, each marking a different day in the conflict.

Ukraine’s Ministry of Digital Transformation began soliciting donations in digital tokens like bitcoin and ether three days after Russia launched its invasion, which Moscow calls a “special military operation.”

Brazilian company says NFTs are capable of saving Amazon

A Brazilian company that owns 410 square kilometers of Amazon rainforest is offering a new way to finance conservation: selling non-fungible tokens, or NFTs, that allow buyers to sponsor the preservation of specific areas of the rainforest.

NFTs are a type of crypto asset that exploded in popularity in the past year, with a unique digital signature that ensures they are unique. Other efforts to fund conservation through NFTs include plans for a wildlife reserve in South Africa.

On Friday, the company called Nemus began selling NFTs, which give buyers a one-time sponsorship of different-sized tracts of forest, with the proceeds going to preserve trees, regenerate logged-over areas and encourage sustainable development.

Token holders will not own the land itself, but will have access to key information about its conservation, from satellite images to licenses and other documentation, said Nemus founder Flavio de Meira Penna.

He said that Nemus had sold 10 percent of an initial token offering for 8,000 hectares on the first day.