Despite the downtrend in the general crypto market, it has been an eventful and exciting week in the metaverse. Here are our weekly hot takes for this week (August 23-August 29).
Solon will form working group to study crypto and NFT taxes
Rep. Joey Salceda, the chairman of the Ways and Means Committee, recently resubmitted the Digital Economy Value Added Tax (VAT) Law. According to him, the House Bill 372 was introduced to “address ambiguities” relating to the Value Added Tax (VAT) and tax regulations. In addition, the congressman acknowledged that he intends to form a group to investigate the viability of taxing digital assets. This is big news for the country, as crypto will be introduced to more Filipinos.
Philippine Universities to offer Bitcoin and crypto courses in partnership with Binance
According to a news published by Bitcoin Magazine, Binance is partnering with Philippine universities to accelerate cryptocurrency education in the country. The world’s largest cryptocurrency exchange Binance recently attended a Philippine Senate session. The hearing discussed multiple things such as the access to financial literacy would be essential for the development of a functional regional framework and needing a proper regulatory structure would be required to safeguard the digital economy’s innovation, development, and security. With that hearing concluded, Philippine colleges will provide free courses on Bitcoin and other digital assets. In collaboration of Binance.
Samsung working on South Korean crypto exchange
Samsung Securities is now looking forward to start up a crypto exchange in the first six months of next year, 2023. Securing licensing is said to be in the advanced stages. One of the companies applying for the license told the NewsPim that the discussions that are necessary for building up the establishment are currently being finalized. Aside from that, a report stated that Samsung Securities is currently researching the best ways to enter blockchain-based businesses.
Eminem and Snoop Dogg brought the metaverse to the 2022 MTV VMAs
Rappers Eminem and Snoop Dogg delivered a performance that is truly “first of its kind”, as they performed their single “From the D 2 the LBC”. Their performance featured their BAYC and Otherside.
This performance is considered a milestone for the NFT space, as NFTs continue to make their way to pop culture, the mainstream and notable events like the MTV VMAs.
Editor’s Note: This article by The Mega Maxi is not a financial advise.