• May 27, 2022

Tether enters Latin America with a stable currency linked to the Mexican peso

Tether enters Latin America with a stable currency linked to the Mexican peso

On Thursday, Tether added to its list of stablecoins, launching its MXNT token pegged to the Mexican peso. In this way, Tether enters Latin America.

The token will initially be compatible with the Ethereum, Tron and Polyong blockchains, the company said. MXNT is Tether’s first foray into Latin America and joins the company’s other pegged currencies: USDT (US dollar), EURT (euro) and CNHT (Chinese yuan).

Mexico is “a prime location for Latin America’s next crypto hub,” Tether said. He also pointed to a Triple A report that indicates that 40% of Mexican companies are interested in adopting blockchain and cryptography in some way.

One of the reasons why Tether enters Latin America, and in Mexico especially, is the “unique opportunity” that exists in the country. Thanks to the multimillion-dollar flow of remittances and the difficulties involved with internal money transfers.

The Assembly of the Republic of Portugal rejects two cryptocurrency tax bills

Portugal has long been considered a tax haven for cryptocurrencies; crypto trading has been tax-free since 2018. In addition, trading digital assets is not considered an investment income in Portugal. This has attracted Lisbon to cryptocurrency startups and events. Despite the fact that businesses that accept Bitcoin must pay income tax for it.

Portuguese Finance Minister Fernando Medina had recently stated that cryptocurrencies in the country will soon be subject to capital gains taxes. However, two minor political party bills to tax cryptocurrency assets were rejected by the Assembly of the Portuguese Republic.

According to the economic daily ECO, the proposals were from the left-wing parties Bloco de Esquerda and Livre, which were rejected during the 2022 budget vote on Wednesday afternoon. The government was asked to explore the possibility of taxing cryptocurrency earnings that exceed 5,000 euros (USD 5,345.75).

MetaMask has a plan to help victims of crypto scams

MetaMask, the browser-based wallet for navigating the world of Web 3, can now help victims of crypto scams and phishing attacks recover their lost assets. Or, at least try.

London-based Asset Reality, a specialist in the investigation and recovery of stolen cryptoassets, will act as a case manager. It will also help MetaMask users around the world to build an investigation in case they are victims of fraud. This was stated by the companies on Thursday.

Nvidia shares plunge after first-quarter figures

Shares of U.S. graphics card maker Nvidia plunged Thursday in after-hours trading. This, because the revenue outlook for the second quarter has not met expectations.

Quarterly growth between the fourth quarter of 2021 and the first quarter of 2022 was strong, with an 8% increase in revenues to USD 8,980 million. Thus, as a 3% increase in profit per share to USD 1.36.

It also stated that it would continue with a share repurchase program worth USD 15,000 million until the end of 2023. According to the filing with the U.S. Securities and Exchange Commission (SEC).

However, the outlook for the second quarter is much less promising and they project that revenues will be USD 8,100 million, 4% less than expected.