The study shows that video game developers in the United States of America and the United Kingdom discuss that Blockchain and NFTs could well become part of the standard within the industry.

A study recently carried out by the British agency Opinion highlighted that around 58% of the video game development companies consulted have already begun to explore possible uses of Blockchain within their next games.

According to data released by the agency, of the 197 US and UK-based developers consulted, 58% were already using the technology of digital currencies to improve their work, and at least 47% of developers started using Non-fungible tokens (NFT).

Going even deeper into the figures, at least 65% of the companies consulted perceived Blockchain as a constant within the ecosystem for the next two years.

The study revealed that at least 56% of the developers described this technology as a tool, and it would help develop many games in the long term.

Among the advantages perceived in the incorporation of Blockchain in video games are its innovative nature and the possibility for players to introduce capital into games in diverse ways.

Another highlight is the possibility of rewarding players with exclusive items that will have value in the real world. The investigation comes when many reputable companies have already expressed their interest in implementing Blockchain in their upcoming titles.

Such is the case of Ubisoft, which has already been exploring this technology for some time. Electronic Arts are also exploring how to get more involved with the sector, even if the latter does not have any solid strategy to carry this mixture out.

The Rise of Play-to-Win Games

Although the idea of   Blockchain and games is a subject that has been on the table for some time, in 2020 and 2021, games based on this Play-to-Win technology in which the Players could earn rewards in the form of tokens or collectibles became very popular.

The rewards in this type of game could later get traded on other platforms and exchanged for other cryptocurrencies or even fiat money.

The greatest example of this market is the game Axie Infinity, which has a base of more than two million players and is the game with the highest number of downloads and active users today.

Players must lead a team of three axies (either by purchasing them or through a scholarship) to play in an adventure mode or a combat arena against other members and thus derive rewards in Smooth Love Potion (SLP) tokens) which get priced at about USD 0.07 per unit approximately.

After the boom of Axie Infinity, many other games have come out that have tried to emulate and innovate the formula to attract a large user base, thus popularizing the methods of games based on NFT. But while a good part of the developers sees a future in the NFT and Blockchain sector, some do not want to tie at all with these technologies.

By: Jenson Nuñez

The president of the Santander bank confirmed the news that it would offer a Bitcoin ETF to its clients in Spain.

Banco Santander announced that it would soon launch a Bitcoin exchange-traded fund (ETF), Spanish media reported this week.

In this way, the Spanish bank will be able to satisfy the demand of its clients who want to invest in cryptocurrencies through a regulated product, said Ana Botín herself, president of the financial institution.

In this regard, the entity expressed that cryptocurrencies will be the most relevant issue in the finance industry in the short term. Botin also said that crypto is the big issue for the next few years; even when these assets get there, Santander would become a pioneer in the industry.

Botín also highlighted that this bank project is a consequence of customer requests and growing demand. However, she confessed that they performed slow actions in response to that call.

The representative also considers that regarding the crypto world, there is a lot of innovation from the private sector, but it is vital that the public upgrade their stances on the matter.

The question from now on is how central banks are going to handle the issue, considering whether they are going to administer it themselves or if they are going to create a legal framework and tell us how to do it.

Santander and its Relationship with the Crypto-World

Before this announcement, Santander had dabbled in crypto and other projects. It has worked with the Ripple Blockchain for remittances and made the first bank exchange of a bond in Ethereum.

Santander appeared to be the only entity that has automated the entire procedure in a public chain. Santander announced in 2019 that it would become the first institution to use a public blockchain to manage the bond issuance in its entirety.

According to the note, the bank used a custom token in Ethereum to represent the $ 20 million bond. Said bond got resolved with another coin as a counterpart that represented the cash in a custody account.

It is worth remembering that, until recently, the possibility of Bitcoin ETFs was closed in countries like the United States of America. However, since last month several ETFs got subsequently launched in the North American nation, with the solid endorsement of the Securities and Exchange Commission.

However, in a country like Spain, this type of product has not yet been registered. The Securities Market Commission (CNMV), which plays the role of the regulatory entity in that country, warned banks that they would not be able to manage or market ETFs in Spain without their prior authorization.

Santander told Bloomberg that they are leaders in crypto. They currently issue the first bond on the Blockchain and have a strong team working on it. Their clients want to purchase Bitcoin, but they have been slow to adopt it due to a series of regulatory issues.

By: Jenson Nuñez

The release of the US inflation data seems to have boosted the latest all-time high of the price of Bitcoin. The value of Ether recently went from USD 4,857.25 to USD 4,878.26 within 24 hours, also hitting a new ATH.

Once again this week, the price of the pioneering cryptocurrency hit another new all-time high. The value of Bitcoin reached USD 68,990, an increase of about USD 500 within 24 hours.

The bullish run occurred after the Bureau of Labor Statistics released the US inflation data. The Consumer Price Index (CPI) in the country increased at its fastest pace since 1990. It rose by 6.2% for all items in the 12 months to October, the highest in three decades. Economists had predicted an increase in the October CPI of 5.9% over the past 12 months.

By resuming its upward trend, Bitcoin won investors nearly USD 2,000 within 45 minutes. The cryptocurrency is currently trading at around USD 65,128 and has accumulated a loss of 0.7% in 24 hours, according to CoinGecko.

Zimbabwe Expresses Interest in CBDC Rather Than in Bitcoin

Monica Mutsvangwa, the Information Minister of Zimbabwe, recently denied that her country wants to adopt Bitcoin and other cryptocurrencies as part of its economy. Many speculate about the possibility of Zimbabwe following the steps of El Salvador, the first nation recognizing the pioneering cryptocurrency as legal tender.

She clarified that the Zimbabwean government would experiment with a central bank digital currency (CBDC) rather than adopt decentralized cryptocurrencies. In other words, she said that they do not seek to legalize the use of those assets.

Many reports about Charles Wekwete, permanent secretary to the president’s office, fueled the rumor about Zimbabwe’s adoption of cryptocurrencies.  The official had said that the government was holding talks with private sector companies to help them learn how to handle cryptocurrencies.

Austria Will Treat Cryptocurrencies like Stocks

Under the new rules, Austria is ready to treat cryptocurrencies like stocks and bonds. The Finance Ministry said that this could raise confidence among investors in those assets.

That agency explained that they are seeking equal treatment to reduce mistrust and prejudice towards this new technology. The bill indicates that 27.5% capital gains taxes will start applying to investments in crypto assets like Bitcoin and Ethereum in March 2022.

Ether Also Hits a New All-Time High and Flirts with USD 5,000

The price of Ether recently hit another new all-time high, going from USD 4,857.25 to USD 4,878.26 within 24 hours. The second cryptocurrency on the market has appreciated by more than 540% this year.

Ether is currently trading at around USD 4,765 and has accumulated a profit of 3.4% in the past week. Its daily trading volume is above USD 19.4 billion, and its market capitalization is nearly USD 564 billion, according to CoinGecko.

The influence of the price of Bitcoin on the general crypto market is increasingly evident. Ether recently accompanied the pioneering cryptocurrency when both crypto assets reached new all-time highs. The interest from investors in those leading crypto assets has been a crucial factor for that achievement.

By Alexander Salazar

The central bank of Singapore warned about the risk that investing in cryptocurrencies poses due to their high instability. Although CBDCs could facilitate cross-border payments and trade financing, Menon stated that the country does not consider them urgent.

The central bank and the financial regulators of Singapore recently expressed their concerns about cryptocurrencies. They alerted about sharp speculative swings and the high risk for retail investors who put their money in that market.

Ravi Menon, the managing director of the Monetary Authority of Singapore, expressed that they disapprove of cryptocurrencies and tokens as investment assets.

Bitcoin (BTC) is trading at around USD 64,300 and has accumulated a profit of 4.6% in the past week. Meanwhile, Ether (ETH) is worth approximately USD 4,635 and has grown by 1.9% in the same period, according to CoinGecko.

Unlike Bitcoin, which has grown by 132% during 2021, Ether has increased by 553% in the same period. However, the two decentralized cryptocurrencies have experienced significant volatile movements.

The cryptocurrency market lost billions of USD dollars during the first half of the year due to a post from Elon Musk on Twitter. The CEO of Tesla said that the electric car company would stop accepting Bitcoin as payment for its vehicles.

Menon stated that no economic fundamentals are the basis for the price of cryptocurrencies, which are subject to sharp speculative swings. Therefore, he believes that retail investors in these assets are at risk of losing significant amounts of money.

Many other countries are currently looking for ways to regulate cryptocurrencies like Bitcoin and Ether. However, El Salvador has taken the initiative by being the first to adopt Bitcoin as legal tender.

Singapore Expresses Its Stance on CBDCs

Ravi Menon said that Singapore is in no rush to develop a central bank digital currency for retail use. The official described CBDCs as a digital version of fiat currencies such as the US dollar (USD) and the Singapore dollar (SGD).

The managing director of the Monetary Authority of Singapore said that a retail CBDC in Singapore is not urgent. However, he stated they have a potential use case for facilitating cheaper and faster cross-border payments or trade financing.

Menon considers that physical cash is going nowhere, for which the need for a digital Singapore dollar is debatable.

A central bank digital currency offers benefits such as financial inclusion and expanded access to different financial services, said Menon. However, he noted that this is not a compelling reason in Singapore since many citizens have electronic bank accounts. At the same time, he highlighted that electronic payments in the Asian country are widespread, highly efficient, and competitive.

According to Menon, another reason to create a digital Singapore dollar is to guard against the possible replacement of the local fiat currency. That is particularly relevant when foreign stablecoins and CBDCs enter the market and become widely accessible.

Furthermore, Menon mentioned the issue of whether people in Singapore are comfortable with having only electronic bank deposits instead of physical cash.

To conclude, the Monetary Authority of Singapore recognized the potential benefits of a CBDC, but there is not a high demand for the asset. Menon added that the central bank would work with the private sector to develop a digital Singapore dollar if regulators require it.

By Alexander Salazar

Tucumán joins the Córdoba initiative to apply taxes to the sale of cryptocurrencies. The legislative branch of the Argentine provinces added cryptocurrencies as Gross Income.

Citizens must now declare their ownership of cryptocurrencies such as Bitcoin (BTC) and Ether (ETH) in Córdoba and Tucumán. Besides reporting the funds they keep in those assets to the government, they will also have to pay a tax on them as with Gross Income.

Córdoba was the first Argentine province to take the initiative in this policy in early 2021, and Tucumán joined it this month. The legislative branch of the latter recently decided to modify Law No. 5,121 to apply a tax to the purchase and sale of cryptocurrencies or tokens.

They added to article 223 the clarification that the trade of digital currencies is part of that subsection. This point appears within currency exchange and public securities operations.

Argentina Has Taxes on Bitcoin and the US Dollar

The head of the Tucumán Finance and Budget Commission, Juan Ruiz Olivares, explained the same tax applies to foreign currency exchange. In other words, the law includes cryptocurrencies like any other currency.

In addition to paying taxes on the trade of US dollars, citizens will now have to do so for cryptocurrencies like Bitcoin and Ether. However, this law is only provincial in scope instead of national, so it only applies in Tucumán.

This policy has also been in force in Córdoba for some months, but the law not only requires paying taxes on the sale of cryptocurrencies. It also demands that people or businesses that charge for their services or products in cryptocurrencies pay the tax.

There is a growing interest in taxing cryptocurrencies not only in Argentina but also internationally. The increased use of these assets has led officials to seek ways to regulate the funds of those who own them. For example, the Mexican attorney general’s office recommended applying a 20% tax to Bitcoin and altcoins.

Bitcoin and Other Cryptocurrencies Help Solve Global Problems

Cryptocurrencies can help the tourism industry in many ways, such as remote payments free of extra costs. El Zonte beach, in El Salvador, was a tourist attraction for being the first to accept Bitcoin. After that, it became the epicenter of the adoption that the law enacted in that Central American country regulates.

Besides that, the actors of the crypto community also seek to attract the population towards other exciting developments. For example, they promote the use of non-fungible tokens for artisans to monetize their creations. Although some of that training receive municipal and provincial support, the interest of the State is not yet deep.

There are still many steps to take, but the movement is advancing, and the community is struggling to show there are no limits. They believe that no mountain, valley, lake or glacier will stop the adoption of cryptocurrencies worldwide.

The increasingly prominent role of Bitcoin in the economy does not go unnoticed by lawmakers. The Argentine provinces Córdoba and Tucumán have decided to include cryptocurrencies as gross income that must have income taxes.

By Alexander Salazar

The news of the alleged scam has prolonged a sideways period, and the new downward pressure is not yet worrying. The significant rejection of low prices indicates that there will be no more declines, and there could be a bullish resumption.

Filecoin (FIL) had an excellent performance at the beginning of the year but is now suffering a deep correction that does not allow it to take off. In addition, that cryptocurrency is involved in a scam that seems to be creating more problems for its price.

FIL is trading at around USD 63 and has lost 0.3% in the last 24 hours. Its market capitalization is above USD 7.776 million, and it occupies the 31^st position in the cryptocurrency ranking, according to CoinGecko.

The Public Security Bureau of Feng Xian, China, arrested 31 people who work at the Star Alliance Network MLM (IPFS Union) company. At the same time, it seized almost CNY 400 million (equivalent to USD 63 million) worth of Filecoin and other crypto assets.

IPFS made a statement to ensure that the funds and arrests have nothing to do with the company’s business. Although most members have resumed their work, they will be fully back when the investigation ends.

Due to that situation, the price of Filecoin quickly reacted negatively. Fear even exerted pressure again, triggering a daily low of USD 56.86. However, much of the decline in its value has now disappeared.

The Scam Could Further Drag Down the Price of Filecoin

For now, that news is only prolonging a lateral period developing in the last week. In contrast to other cryptocurrencies, the price of Filecoin has been falling very weakly in the past two months.

The alleged scam in which Filecoin is involved is exerting new downward pressure that is not yet concerning.

The weekly chart shows the price is in a small range with resistance at USD 69.82 and support at USD 55.75. If the support level holds, the bulls will have no reason to worry.

The rising lows have allowed the price of FIL to maintain a dominant bullish direction.

There will be a resumption of the previous trend if the price of FIL breaks through the immediate resistance. That would allow it to go much higher soon and reach a relevant resistance at USD 113.71.

An Analysis of the FileCoin Price Daily Chart

The daily candlestick chart indicates tremendous bearish pressure due to the alleged scam involving Filecoin. This event still represents a considerable risk for the evolution of the price of the cryptocurrency.

However, the strong rejection of low prices seems to indicate that there will be no more falls. The buying pressure on the immediate support zone is defending FIL. For that reason, there could be a bullish resumption from the current point.

The price of Filecoin must break through resistance at USD 67.63 to confirm that the bulls will regain control in the short term. It is only a matter of time to see how the market for this crypto asset will develop.

By Alexander Salazar