It’s been a relatively quiet week in the crypto-verse. Most of the action has been from governments and large corporations, which are getting into ‘crypto mode’ with ever more urgency and enthusiasm.
However, at Dacxi, it’s a totally different story.
We’ve been super busy over the past few months developing some exciting updates — with a few new features that we think you might like (more on this below)…
Bitcoin (BTC) entered the week with positive momentum, quickly rising to a weekly maximum at $19,700. Then bid volumes continued to weigh down on price throughout the week — temporarily breaking below the $19,000 support level on Friday, to a weekly low of 18,660. BTC rapidly bounced back to $19,160, for a +1.62% return week on week.
Ethereum (ETH) had a slightly better week than Bitcoin, but it was still up and down, moving in a range from a low of $1252 to a high of $1365 — for a week-on-week return of 4.48%.
News from the wide world of crypto
The Australian Federal Government has confirmed that cryptocurrencies will be taxed as an asset and not a currency.
That means investors will pay capital gains tax when they sell crypto assets (if they have made a profit) as well as when they trade digital assets for each other. The usual capital gains tax discount will also apply. However, any government-issued digital currency or central bank digital currency will continue to be taxed as foreign currency.
Currently, Central Bank Digital Currencies, or CBDCs, are a hot topic and are being explored by many governments around the world. The Reserve Bank of Australia is undergoing a pilot program to see how an Australian dollar-backed CBDC might be developed and used.
Understanding Global Crowdfunding: What You Need to Know
What could the next era in innovation funding mean for you?
Join us on 3 November for an insight-packed fireside session on everything you need to know about the next stage in global crowdfunding, and what it will mean for the future of the innovation landscape.
- What is global crowdfunding?
- How will global crowdfunding work in the future?
- How will Dacxi Chain help lead this change?
Time: 7:00 pm AEDT
Secure your spot here.