Sat 12/16

Good Morning. RBI wants to ban the cryptos ( only if the govt could get more stupid smh), Trump launched and sold out his NFTs because why not, and Solana becomes the first to integrate with Discord. Have a great weekend everyone!

• Indian govt collects over Rs 60 crore from crypto TDS: The Government of India has revealed that it has received Rs 60.46 crore from TDS (tax deducted at source) from the trading of virtual digital assets. In addition to a 30 percent income tax, the government started levying a surcharge and cess on the transfer of digital assets this year. In July, the Centre also implemented a 1% TDS on transactions related to virtual digital assets.

• 'RBI Wants To Ban Crypto But Needs Global Support To Implement The Ban' Says FM Nirmala Sitharaman: Addressing queries related to cryptocurrency in the Lok Sabha on December 14, FM Sitharaman said that the RBI has recommended framing legislation on this sector. The RBI is of the view that cryptocurrencies should be prohibited. She added that cryptocurrencies are, by definition, borderless and require international collaboration to prevent regulatory arbitrage. "Therefore, any legislation for regulation or for banning can be effective only after significant international collaboration on evaluation of the risks and benefits and evolution of common taxonomy and standards," she said, as per the Mint report. FM Sitharaman reportedly said, "RBI has been cautioning users, holders, and traders of virtual currencies (VCs) via public notices on December 24, 2013, February 1, 2017, and December 5, 2017, that dealing in VCs is associated with potential economic, financial, operational, legal, customer protection, and security related risks. RBI had also issued a circular on April 6, 2018, prohibiting its regulated entities from dealing in virtual currencies (VCs) or providing services for facilitating any person or entity in dealing with or settling VCs."

• Donald Trump NFT Collection Sells Out: Former U.S. President Donald Trump’s recently launched his non-fungible token (NFT) digital trading card collection. It sold out early Friday, the day after its initial release. According to data from OpenSea, at the time of writing, the collection’s trading volume is 900 ETH, or about $1.08 million. Its floor price is about 0.19 ETH, or about $230 – more than double the original price of $99. According to data from Dune Analytics, nearly 13,000 users minted 3.5 tokens upon the collection's release. Additionally, 115 customers purchased 45 NFTs, which is the minimum number of tokens that guarantees a ticket to dinner with Trump; 17 people purchased 100 NFTs, which, according to the Trump Trading Card site, was the maximum quantity allowed to mint. However, additional metrics from Dune show that other wallets held far more.

• Discord Integrates Solana Wallets: Solana claimed it would be the first blockchain to be integrated into Discord’s Linked Roles, allowing users to link and authenticate their Solana wallets to servers with the Solana app installed. According to Solana, the new feature will help improve trust and safety on the instant messaging social platform by allowing server administrators to create roles based on metadata from a user’s Solana wallet. Servers with the Solana app installed can prompt users to link and authenticate with their Solana wallet, and assign "Linked Roles" based on the wallet.

• MoneyGram Partners with Stellar Development Foundation: Global payments company MoneyGram partnered with the Stellar Development Foundation (SDF) on the launch of Stellar Aid Assist, a blockchain-powered aid disbursement system “that delivers relief funds quickly, affordably and efficiently to individuals in crisis,” including the people of Ukraine, said an announcement. Stellar Aid Assist enhances existing cash assistance efforts by making it possible for organizations to distribute Circle’s USD coin (USDC) directly into an individual’s digital wallet, which can then be converted into cash and withdrawn at MoneyGram locations. The UN Refugee Agency (UNHCR) and the International Rescue Committee (IRC) both announced separate successful pilots of this system to help the people of Ukraine.

Web3 Blockchain Developer At Lumos Labs

What Is Hashing in Blockchain?: Hashing or hash is a common term when discussing blockchain technology. Hashing refers to the transformation and generation of input data of any length into a string of a fixed size, which is performed by a specific algorithm. In particular, the Bitcoin hash algorithm is SHA-256 or Secure Hashing Algorithm 256 bits. This algorithm is a one-way cryptographic function as the original data cannot be retrieved via decryption.

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