Crypto
Decrypt hires Napolitano to cover cryptocurrency – Talking Biz News
![Decrypt hires Napolitano to cover cryptocurrency – Talking Biz News](https://talkingbiznews.com/wp-content/uploads/2023/06/Elizabeth-Napolitano.jpeg)
Decrypt Media has hired Elizabeth Napolitano to cover the cryptocurrency industry.
![](https://newspub.live/wp-content/uploads/2022/03/np-logo.png)
Crypto
Russia weighs risk of embracing crypto for international payments
![Russia weighs risk of embracing crypto for international payments](https://www.reuters.com/resizer/v2/NMCBWRRT2ZPRZNXMUSR6LRBLSY.jpg?auth=fe7c7af12d27174adbcbc53a44981511cbc11d04faea68cb6edb2a46eb3682ae&height=1005&width=1920&quality=80&smart=true)
Crypto
Finmont Partners with the World’s Largest Provider of Cryptocurrency Payment Services, BitPay
![Finmont Partners with the World’s Largest Provider of Cryptocurrency Payment Services, BitPay](https://ffnews.com/wp-content/uploads/2024/07/Finmont-Partners-with-the-Worlds-Largest-Provider-of-Cryptocurrency-Payment-Services-BitPay.jpg)
Global payment orchestration platform FinMont has announced a new partnership with BitPay, the world’s largest provider of Bitcoin and cryptocurrency payment services. The strategic partnership will see the addition of cryptocurrency to the FinMont payment ecosystem allowing merchants to utilise payments from all cryptocurrencies.
The founders of German airline, Hahn Air, launched FinMont to offer the travel industry a unique solution that, unlike other options available, streamlines not only B2C payments but also B2B payments. Combining both payments into a single view will help decision-makers identify and fix inefficiencies in their current payment processes. The firm’s mission is to help travel merchants use payments as a strategic tool to stand out from competitors.
BitPay pioneered blockchain payment processing to enable borderless payments using cryptocurrencies like Bitcoin (BTC), Bitcoin Cash (BCH), ApeCoin (APE), Dogecoin (DOGE), Ethereum (ETH), Litecoin (LTC), Polygon (MATIC), Shiba Inu (SHIB), Wrapped Bitcoin (WBTC), XRP (XRP), 7 USD-pegged stable coins (BUSD, DAI, GUSD, PYUSD, USDC, USDP, and USDT) and 1 EURO-pegged stable coin (EUROC) and others. BitPay’s business solutions eliminate transaction fraud, reduce the cost of payment processing, and enable borderless payments in cryptocurrency.
The FinMont platform aims to revolutionise payments by connecting multiple banks and providers through one simple gateway. The partnership with BitPay will allow the global payment platform to incorporate the world’s largest provider of cryptocurrency payment services into its eco-system allowing travel merchants to benefit from the opportunity to offer crypto payments globally.
Suby Valluri, CEO of FinMont, commented, ‘We are delighted to announce this strategic partnership with BitPay and incorporate their leading cryptocurrency payment services into our global ecosystem. This strategic partnership will allow our international client base to offer and facilitate crypto payments globally.”
“Our partnership with FinMont will help realise the potential for crypto to transform the Travel industry, making payments faster, more secure, and less expensive on a global scale,” said Merrick Theobald, Vice President of Marketing at BitPay. “Our goal at BitPay is to make accepting crypto a seamless process and increase adoption as we believe crypto is the future of payments.”
Crypto
S.Korea's Cryptocurrency Tax Delays Open Opportunities For Threats: 2028 Target Date Eyed
![S.Korea's Cryptocurrency Tax Delays Open Opportunities For Threats: 2028 Target Date Eyed](https://www.tronweekly.com/wp-content/uploads/2024/07/CAMP-2024-07-16T114230.856.jpg)
In the world of cryptocurrency, delays in taxation have put the entire system at risk. Originally set for October 2021, the tax law passed during the Moon Jae-in administration was first postponed to January 2023, then again to January 2025 under Yoon Seok-yeol. Concerns over investor burden and market confusion were the reasons given each time.
If the ruling party postpones it again, the tax on cryptocurrency income will be delayed for over six years. Critics argue that public opinion heavily influences tax policy. The Financial Services Commission reported that by the end of last year, domestic cryptocurrency investors numbered 6.45 million. People in their 30s and 40s make up more than half of this group, holding significant sway over public opinion. This demographic’s influence is why politicians are paying close attention to cryptocurrency investors.
Dissatisfaction with cryptocurrency taxation has grown with recent drops in Bitcoin and other cryptocurrencies. An insider noted that the daily trading volume on domestic exchanges fell from 20 trillion won in March to 2 trillion won recently. Imposing the tax next year might drive away investors and further reduce trading.
Meanwhile, the financial investment income tax, scheduled for early next year, is under review. The government may abolish it, but former Democratic Party leader Lee Jae-myung suggested rethinking its timing. If cryptocurrency taxation proceeds while the financial investment tax is delayed, investors will feel relatively deprived.
Need for Cryptocurrency Regulation
Critics argue that full-scale taxation is tough due to insufficient systems and institutional preparation. A government official mentioned the need for secondary legislation to classify cryptocurrencies and detail business types for easy tax implementation. Yet, others counter this claim, pointing out that after two delays and three years of preparation, the excuse of “lack of preparation” is weak.
There are concerns that postponing the tax again, due to public opinion and market conditions, might lead to its eventual collapse. If postponed until January 2028, a general election in April that year could lead to another delay.
The principle of “where there is income, there is tax” is being undermined by repeated delays. Some argue that early next year, before the 2026 local elections, is the right time to implement the tax. The government will announce its tax law revision bill at the end of this month. Deputy Prime Minister Choi Sang-mok stated that they are reviewing the matter. The Democratic Party will clarify its stance after the government’s announcement.
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