Today in crypto: the Portuguese parliament rejects the tax

Portugal’s parliament has refused two new crypto taxes, according to a report, as the Assembly of the Republic considers its state budget for the year.

The proposals were made by two small left-wing parties. The majority socialist party did not make a proposal, but the finance minister said a crypto tax was coming.

Several former Binance executives have created a $100 million venture capital fund to focus on the metaverse and bring more crypto adoption to emerging markets, Yahoo reported.

The fund is backed by traditional venture capital funds, family offices and angel investors, and is called Old Fashion Research.

A spokesperson said there is “greater potential” for crypto adoption in emerging markets, where people are struggling with the financial and banking system.

In other news, MetaMask, in partnership with Asset Reality, will improve customer support with a new way to trace, track and recover stolen funds.

Even reporting small losses can help MetaMask integrate case data into larger investigations and eventually recover the asset.

Meanwhile, Tether, which operates the largest stablecoin, launched Tether tokens pegged to the Mexican peso, according to a press release.

It will come with support for Ethereum, Tron, and Polygon.

The token joins other fiat currency-linked tokens, including the US dollar, euro, and Chinese yuan.

In other crypto news, cryptocurrency firms will need to “clean up their act,” according to the old guard at the World Economic Forum, Reuters wrote.

Nela Richardson, senior vice president and chief economist at ADP, an HR software provider, said the future of crypto will be regulated and central banks will eventually provide oversight.

While crypto firms were plentiful in Davos, inside the gates there was a call for regulation, and some were concerned about the risks.

Finally, the relaunch of the Luna token, which had been a catalyst in the digital currency turmoil, was met with enthusiasm, Bloomberg wrote, as crypto exchanges have already planned to list it.

Luna’s raise will help save the network after the one-to-one peg collapse of the UST coin. The new part will be called Luna classic and will separate from the original part.



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